Bitcoin miner reawakens wallet, transfers $3.3 Million
Today, a remarkable transaction was one of the earlier deals; the value was estimated at 50 Bitcoins; this amount is equivalent to $3.3 million. Being mined in April 2010, these coins were asleep for around 14 years. The fling implies initiatives like wallet consolidation or readiness for sale by one of the early Bitcoin miners. […]
Iraq’s Energy Update Teases Big Moves in Bitcoin Mining
Iraq has publicized its resolve to reuse flare gas, a well-known by-product of the oil extraction process. At the U.S.-Iraq Higher Coordinating Committee meeting, where Iraq’s deputy prime minister Muabamad Ali Tamim sat together with the USA’s Secretary of State Antony Blinken, the Iraq administration pledged to adopt new technologies to enable energy independence and […]
Luxor forecasts massive migration of Bitcoin rigs ahead of halving
The Bitcoin halving event is sparking a major shift in the mining industry, and the stakes couldn’t be higher. Luxor’s eye-opening analysis predicts a whopping 600,000 S19 bitcoin rigs packing their bags and heading for greener pastures. The mass exodus from the U.S. to energy-affordable locales like Africa and South America is not just a […]
Marathon Digital buys 200MW Bitcoin mining hub for $87m
Marathon Digital Holdings, stepping up its game in a big way, has shelled out a cool $87.3 million in cash for a Texas-based Bitcoin mining powerhouse with a capacity of 200 megawatts. Yep, you read that right. They’re not playing around, paying straight from their deep pockets, waiting for no man (or price adjustment) to […]
Bitcoin mining difficulty hits all-time high as BTC price tumbles
On March 14, the cryptocurrency market watched as Bitcoin mining difficulty skyrocketed to an unprecedented 83.95 trillion hashes. This shows that miners are getting more and more competitive as they try to solve the hard puzzles that keep the Bitcoin network running. And guess what? This happened right when Bitcoin’s price decided to play its […]
Bitcoin (BTC) miners liquidate holdings as halving nears
As the much-anticipated fourth halving of Bitcoin (BTC) approaches, the cryptocurrency market has observed a notable trend among miners. According to insights from CryptoQuant, miners have begun to liquidate their Bitcoin holdings. This move aims to capitalize on the ongoing bull run and prepare for future profitability by upgrading their equipment. Despite this sell-off, the […]
Bitcoin mining tax faces resistance from industry leaders
In a recent statement, Perianne Boring, CEO of the Chamber of Digital Commerce (CDC), expressed strong opposition to the Biden administration’s plan to introduce a 30% tax on Bitcoin mining. Boring highlighted the critical role of Bitcoin mining in enhancing energy security and critiqued the tax proposal as politically motivated. According to her, this move […]
The White House is very angry with Bitcoin and Bitcoin miners
The clash between the cryptocurrency industry and the powers-that-be in Washington has reached a boiling point, with the White House throwing a massive side-eye towards Bitcoin and its energy-hungry mining operations. As BTC’s price soars to heights unseen since 2021, reaching a whopping $60,400, it seems to have triggered more than just investor frenzy; it’s […]
White House Highlights Bitcoin Mining’s Strain on Power Grid
White House has sounded the alarm about the rising strain Bitcoin mining puts on the national power grid, citing environmental worries amid the cryptocurrency’s surging demand. As more people mine Bitcoin to increase its value, the significant energy consumption required for the process has drawn intense scrutiny. This concern stems from the environmental impact of […]
U.S. Government pauses scrutiny of Bitcoin mining’s energy consumption after court ruling
The U.S. Department of Energy (DOE) has temporarily halted its controversial survey to assess the energy consumption of cryptocurrency mining operations. This decision comes in the wake of legal challenges from industry participants, including Riot Blockchain, a leading mining company, and the Texas Blockchain Council. The suspension was disclosed in a recent filing with the […]
Bitcoin hash rate soars to 562.81 EH/s amid rising mining difficulty
Bitcoin’s mining difficulty has exceeded 80 trillion, setting a new record. According to data from BTC.com, the difficulty level reached an unprecedented 81.73 trillion on February 16, indicating a continuous upward trend that began in January 2023. This increase in difficulty is paralleled by a surge in the network’s hash rate, which has achieved a […]
BRICS starts Bitcoin mining – What does this even mean?
Gone are the days when the BRICS coalition was just a fancy acronym for an emerging economic alliance. Ethiopia, the latest jewel in the BRICS crown, has boldly stepped into the Bitcoin mining arena, sealing the deal with China, a move that has everyone’s eyebrows dancing. This is a full-on leap into the digital currency […]
Argo Blockchain shares fall 7.5% amid production dip
London-based mining company Argo Blockchain saw its shares drop by 7.5% on Monday after revealing a 20% decline in mined Bitcoin production for January. The company cited various factors contributing to this decrease, including a 16% reduction in Bitcoin-denominated hash price and weather-related curtailments in Quebec, Canada, and Texas, USA. Production decline and share price […]
Ionic Digital Acquires Celsius Mining Assets, Targets Market Leadership via Public Listing
Ionic Digital is poised to make a significant impact in the North American bitcoin mining industry as it acquires the mining assets of the bankrupt lender, Celsius, and prepares for a public listing. With an ambitious plan to hit a mining capacity of 12.7 exahash per second (EH/s), the company is gearing up to become […]
Bitcoin mining sets new sustainability record with increased green energy use
The Bitcoin ecosystem has achieved a notable environmental milestone. According to a recent report from the Bitcoin ESG Forecast, sustainable energy use in Bitcoin mining has reached an unprecedented peak of 54.5%. This statistic, derived from the Bitcoin Energy and Emissions Sustainability Tracker (BEEST), marks a significant increase of 3.6% in sustainable mining practices throughout […]
Unmasking Bitcoin’s Environmental and Financial Impact
In early 2022, Daniel Batten embarked on an in-depth evaluation of Bitcoin’s environmental footprint and its association with money laundering. His findings challenge prevailing beliefs about BTC. Daniel is the co-founder of CH4 Capital. Bitcoin and the environment: A complex relationship The assertion that “Bitcoin harms the environment” holds a kernel of truth. However, it […]
Bitcoin miner Phoenix splurges nearly $200m on equipment
Phoenix Group PLC, the trailblazing firm in the cryptocurrency mining and blockchain arena, recently made a bold move in the Bitcoin mining sector. This group, firmly rooted in the Abu Dhabi securities market, has made a hefty investment of $187 million to escalate its influence and capabilities in the Bitcoin mining landscape. The deal, conducted […]
Indonesian authorities crack down on illegal Bitcoin mining operations
Over the Christmas weekend, Indonesian authorities conducted a targeted operation, raiding ten sites suspected of illegal Bitcoin mining activities. The crackdown addressed the illicit use of electricity from the national grid to power these operations. Energy theft and massive seizures In Medan, North Sumatra, authorities discovered 1,314 bitcoin rigs at the raided sites. The 26 […]
Celsius Network gets green light for Bitcoin mining
Cryptocurrency lender Celsius Network has received the green light to make a strategic shift into bitcoin mining, following approval from a U.S. bankruptcy judge. The decision represents a significant pivot for the company, which had originally aimed to earn fees from validating crypto transactions but had to alter its course after encountering regulatory obstacles. Here’s […]
Crypto mining stocks surge double digits – The effects ahead of the 2024 Bitcoin halving
Bitcoin miners’ stocks, such as Marathon Digital Holdings and Riot Platforms, have outperformed the largest digital currency this year, with returns of more than 800% and 400%, respectively. During the same time frame, the US crypto exchange Coinbase Global and Bitcoin proxy MicroStrategy both increased by more than 350%. In 2023, Bitcoin will have increased […]
Russian firm BitCluster to establish 120 MW Bitcoin mining center in Ethiopia
Russian Bitcoin mining solutions provider BitCluster has unveiled plans to establish a 120-megawatt (MW) data center in Ethiopia. The move aims to position Ethiopia as a key player in the global Bitcoin mining landscape. BitCluster’s ambitious project in Addis Ababa BitCluster’s initiative focuses on constructing a state-of-the-art data center spanning 30,000 square meters in Addis […]
Core Scientific all set to make a comeback in January
Core Scientific, a prominent player in the cryptocurrency mining industry, has announced its expected emergence from bankruptcy by mid-to-late January. The Austin, Texas-based company, which had filed for bankruptcy protection in December last year, is now on the brink of a significant turnaround. This potential revival comes at a time when the crypto industry is […]
Marathon Digital Holdings Expands Bitcoin Mining Operations with $179 Million Acquisition
Marathon Digital Holdings, Inc. (NASDAQ: MARA), a prominent figure in the Bitcoin ecosystem, has announced a definitive agreement to acquire two operational Bitcoin mining sites from subsidiaries of Generate Capital, PBC, for a total of $178.6 million. The strategic acquisition, paid in cash from the company’s balance sheet, marks a significant shift in the company’s […]
Hut 8’s Strategic Expansion: Developing a New Mining Site in Texas
Canadian Bitcoin mining firm Hut 8 has announced an interim agreement to establish a new mining site in Cedarvale, Texas. The development, announced on December 18, is part of the ongoing proceedings surrounding the bankruptcy of the Celsius Network and represents a strategic expansion for Hut 8. The Cedarvale site is set to become a […]
Where there is smoke there is fire, Qatar investment in crypto with El Salvador
After Qatar was pushed into the crypto scene back in September claiming that the visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador would include discussions on Bitcoin mining, once again Qatar is being shoved into the crypto scene with rumors that the Qatar Sovereign Fund will be purchasing $500 […]
Jack Dorsey’s new mission is to revolutionize Bitcoin mining
Jack Dorsey, widely recognized as the co-founder of Twitter (now X) and a vocal proponent of Bitcoin, is diving into a new venture aimed at transforming the world of Bitcoin mining. He has recently spearheaded a $6.2 million seed funding round for Mummolin, the parent company of Ocean – a pioneering Bitcoin mining pool. This […]
Bitcoin mining difficulty continues to hit record high
The Bitcoin mining landscape is witnessing yet another groundbreaking moment. Recently, at block height 818496, the mining difficulty of Bitcoin escalated by 5.07% to reach an unprecedented 67.96 terahashes (T). This development underscores the continually growing computational power dedicated to Bitcoin mining, with the average network hashrate now standing at a staggering 504.80 exahashes per […]
UAE first crypto mining ICO for Phoenix Group raises $370 million with retail clients as biggest investors
As the crypto market goes green so is crypto mining investment in the UAE. For the first time in the MENA region, a UAE home grown crypto mining entity Phoenix Group has carried out a successful IPO 33 times oversubscribed with retail clients being the biggest investors. The IPO which started on November 16th 2023 […]
Tether has an ambitious plan to dive into Bitcoin mining
Tether, the giant in the stablecoin realm with an impressive $87 billion in circulation, is making a seismic shift towards the world of Bitcoin mining. Paolo Ardoino, poised to assume the reins at Tether, has revealed a bold plan to channel approximately $500 million into a strategic expansion within the Bitcoin mining sector over the […]
Bitcoin mining revenue reaches yearly high amid growing ETF anticipation
Bitcoin mining revenue has soared to unprecedented heights, outstripping even the lucrative days of the Ordinals frenzy earlier this year. On November 9, mining income reached about $42,386,514.038, propelled by a buoyant Bitcoin price, which climbed to over $37,000, according to data from Blockchain.com. However, this remarkable growth is closely linked to the burgeoning optimism […]
Antminer S21’s profitability examined – Here’s the verdict
Mining cryptocurrency isn’t for the faint of heart, and Bitmain’s latest Antminer S21 series is now under the microscope. We’re tearing apart the profitability facade and giving it to you straight. No sugar-coating, no bullshit. Buckle up, because we’re diving deep into the nitty-gritty of what this piece of hardware can actually do for your […]
Bitcoin mining and AI meet in a new Texas data center
In the evolving world of data technology, there has been an eruption of significant innovations. Among them are Artificial Intelligence (AI) and Bitcoin Mining. As per recent events, the two brilliant innovations have come together in a surprising union in Texas. The renowned state famous for its pioneer spirit hosts the cutting-edge data center in […]
Hut 8 mines and holds amid market and merger moves
Hut 8, a Bitcoin mining company based in Canada, has made headlines for its innovative strategy to protect its Bitcoin reserves. Hut 8 is defying market trends and setting an intriguing precedent by secretly collecting a considerable Bitcoin reserve as the company continues with its merger with industrial cryptocurrency miner US Bitcoin (USBTC). In a […]
Marathon’s Bitcoin experiment hits a roadblock
Marathon Digital, a major player in the Bitcoin mining arena, recently faced an unexpected hurdle in its ambitious endeavors. The company, known for pushing boundaries, conducted an experiment in their ongoing quest to enhance operations. However, this endeavor didn’t go as planned, leading to the mining of an invalid Bitcoin block. The Risky Business of […]
Venezuelan authorities seize Bitcoin mining machines in raid on notorious Tocoron prison
Venezuelan authorities have seized a collection of Bitcoin mining machines from the Tocoron prison. The operation also uncovered an array of heavy weaponry, including rocket launchers and grenades. Over 11,000 police and soldiers, backed by tanks and armored vehicles, stormed the prison. They targeted the Tren de Aragua gang, which had been using the prison […]
Could Qatar be part of El Salvador’s Bitcoin mining project after Qatar’s Prince official visit?
The visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador today September 13th 2023 has raised questions that bitcoin mining could be part of the discussions The news of the visit sparked the interest and imagination of some influencers and enthusiasts in the crypto community. Could Qatar be part of […]
Marathon’s Bitcoin mining suffered a slight declined in August
In August 2023, Marathon Digital Holdings, a United States-based cryptocurrency mining operator, achieved significant milestones in its operations. The company produced 1,072 Bitcoin during the month, marking a 9% decrease from July but an impressive fivefold increase compared to August 2022. The firm recently shared unaudited BTC production and miner installation updates for August, providing […]
Bitcoin mining stocks are dominating 2023 with over 200% yearly growth
Bitcoin mining, once a niche market, has witnessed unprecedented growth in 2023, especially with stocks like Cipher Mining (CIFR) showcasing a spectacular near-400% rise. Despite a recent 10% dip in Bitcoin’s value, largely attributed to speculations about SpaceX’s possible sale of its crypto holdings, its annual increment stands firmly at 50%. This positions the pioneering […]
The shocking costs of Bitcoin mining
In a recent study by CoinGecko, the costs associated with Bitcoin mining at the household level were analyzed, revealing significant disparities across different regions. The study shows that Europe and Australia are the most expensive regions for mining Bitcoin, followed by the United States. On the other hand, some countries in West Asia and North […]
Bitcoin miners’ new tech boosts winning odds by 260%: Experts
While many remain entranced by the volatile price of Bitcoin, few may realize the pivotal shifts occurring behind the scenes. Quantum Blockchain Technologies (QBT), a UK-based research firm, is flipping the script with groundbreaking tech that promises to shake up the Bitcoin mining landscape. Harnessing the Power of AI in Bitcoin Mining Let’s cut through […]
