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 […]
Marathon Digital’s investors sue top executives because of this
Marathon Digital, a leading cryptocurrency mining company in the United States, is facing a lawsuit brought on by its shareholders. The court action names Fred Thiel, the CEO, as well as other top-tier executives, citing allegations of fiduciary duty breaches, unjust self-enrichment, and misuse of corporate assets. Legal actions and claims The spotlight is squarely […]
Bitcoin miners are not looking forward to Bitcoin halving
As the intricate dance of technology and economics unfolds in the realm of cryptocurrencies, Bitcoin miners are nervously anticipating an event which, while maintaining the currency’s value, puts them in a precarious position. This is the quadrennial phenomenon of Bitcoin halving, a coded aspect of the cryptocurrency world that is now casting shadows of uncertainty […]
Why Marathon Digital didn’t mine enough Bitcoin in June
In the sphere of digital currency, Marathon Digital has typically stood as a titan, helping to secure and support the Bitcoin ecosystem. June 2023, however, brought an unexpected shift in the company’s Bitcoin mining performance. Notably, the production numbers took a dip as Marathon Digital generated a lesser number of bitcoins, causing industry stakeholders to […]
Hut 8 mining gains financial edge with Coinbase credit facility ahead of Bitcoin halving
Hut 8 Mining, a prominent Bitcoin (BTC) mining firm based in Canada, has recently secured a credit facility from Coinbase Inc., a renowned cryptocurrency exchange headquartered in the United States. This partnership marks a significant milestone for Hut 8, enabling the company to bolster its financial position amidst the upcoming Bitcoin halving event. Under the […]
Core Scientific’s chapter 11 plan paving the way for Bitcoin mining titan’s resurgence
Core Scientific, a Bitcoin mining company facing serious difficulties due to the current bankruptcy procedures, has taken a decisive step to ensure its long-term viability. The company has recently filed for Chapter 11 bankruptcy protection in order to demonstrate its commitment to reorganizing its business and pleasing its creditors. The Chapter 11 plan was submitted […]
Binance starts Bitcoin mining cloud venture away from the US
Binance, the leading global cryptocurrency exchange, has ventured into a new realm of business: the Bitcoin mining industry. This groundbreaking venture starts with a bang, offering a subscription-based cloud service dedicated to the mining of the world’s first digital currency, Bitcoin. Binance ushers in a new era of Bitcoin mining As of June 15, this […]
Hut 8 smashes expectations in May with BTC mining records
May was a ground-breaking month for the North American digital asset mining pioneer, Hut 8. This innovation-driven infrastructure provider didn’t merely meet the expectations; it actually smashed them, setting new benchmarks in Bitcoin (BTC) mining, a sphere it has chosen to master. It seems the month had all the right ingredients for a fantastic recipe […]
El Salvador’s Volcano Energy raises $250m for Bitcoin mining
A remarkable venture in El Salvador has recently taken a notable step forward. Volcano Energy, an organization working hand-in-hand with the country’s government, has obtained an investment of $250 million. This funding is part of an ambitious $1 billion vision to establish a Bitcoin mining farm utilizing renewable energy. The allocation of this initial investment […]
Bitcoin mining and energy use: A catalyst for positive change?
At a time when climate change is a pressing concern, energy consumption in Bitcoin Mining has been a topic of heated debate. Detractors argue that the amount of energy consumed in mining Bitcoin is unsustainable and detrimental to the environment. However, some analysts believe that Bitcoin has the potential to catalyze a positive change in […]
Massive Bitcoin mining rig theft in Paraguay: DAS makes breakthrough arrest
The Anti-Kidnapping Department (DAS) conducted a recent raid in Paraguay, a landlocked country in South America. DAS successfully arrested individuals involved in the crime, revealing 300 stolen Bitcoin (BTC) mining rigs. In April, the culprits stole mining rigs at the Arimar farm in the Alfredo Pla neighborhood of Presidente Franco, Alto Parana. According to the […]
Kingdom of Bhutan shocks with Bitcoin mining revelation
The Kingdom of Bhutan, nestled in the Himalayas, has stunned the world with the recent disclosure that it has been mining Bitcoin using its abundant green energy resources. The small nation, known for its commitment to “gross national happiness” over GDP, has capitalized on its rich hydroelectric power generated by run-of-the-river projects to mine the […]
Block Company paves the way for decentralized Bitcoin mining with 5nm chip prototype
Recently, Block Company, a financial and technology firm, announced the completion of a prototype design for its new Bitcoin (BTC) mining chip. The chip, which operates at five nanometres (5nm), will be the main component for supplying and decentralizing Bitcoin mining rigs. In a press release, the San Francisco-based company acknowledged that reaching this milestone […]
WEF mining promo video causes controversy in the crypto market
According to recent market developments, the World Economic Forum (WEF) highlighted the facilities and technology utilized by a crypto mining company, implying that its operations were the “biggest winner” for the environment. However, it is important to note that WEF has diverted from acknowledging BTC mining. Recent reports indicate that WEF has indirectly become an […]
Bitcoin mining reaches new heights amidst price decline
Despite Bitcoin’s price hovering around the $30,000 mark, the cryptocurrency’s underlying network fundamentals, such as difficulty and hash rate, continue to set new records. The 2023 Bitcoin recovery has significantly impacted miners, who have experienced a much-needed turnaround following the bear market that had previously squeezed their profit margins. As BTC/USD gained 70% in Q1, […]
Crypto enthusiasts go after New York Times for its BTC mining report
Crypto misinformation has taken root in current reporting. In recent times Mainstream Media houses have come under pressure for false reports on the crypto ecosystem. You might be forgiven to think these houses took note and planned a different reporting strategy. They did not. Once more, the crypto community has voiced their displeasure with fabricated […]
Bitcoin mining firm Sphere 3D sues partner Gryphon Digital Mining for losing $500k in fraud
Sphere 3D, a bitcoin mining firm, has filed a lawsuit against its partner Gryphon Digital Mining, alleging that the latter lost $500,000 worth of Sphere 3D’s bitcoin in a spoofing attack and failed to act in the best interest of the partnership. The complaint was filed on Friday with the Southern District of New York. […]
Mining Bitcoin just got a lot harder—see why
Mining Bitcoin has become significantly more difficult over the past few days. Its mining difficulty is up to a new peak of 39.35 trillion, which rose by 4.68% from 37.59 trillion on Sunday. Mining difficulty refers to how much computing power it takes to mine one BTC. It adjusts every two weeks depending on the […]
Bitcoin miners reactivate their rigs following BTC’s rally
Bitcoin miners have been getting back to work as the cryptocurrency market stages a comeback. Following the resurgence of Bitcoin (BTC), many bitcoin miners have turned on their rigs and are mining again in search of profits. The difficulty of mining cryptocurrency, as measured by the total amount of computing power needed to produce Bitcoin, […]
Bitcoin mining pool BTC.com was hacked earlier this month
The Bitcoin mining pool known as BTC.com has revealed that it was the target of a cyberattack on December 3, 2022. During the incident, a number of digital assets were taken, the value of which was roughly 700,000 dollars and was held by customers of BTC.com. The value of the assets owned by the company […]
This publicly-listed Bitcoin mining company has gone bankrupt, but it’s not so bad
A bankruptcy petition has been submitted by yet another Bitcoin mining business. Just a few days after a creditor volunteered to assist Core Scientific, one of the largest Bitcoin miners in the world and also the only publicly-listed one, in avoiding potential bankruptcy, the company stated on Dec. 21 that it is going to file […]
Are crypto miners losing faith in Bitcoin? Over 10K BTC dumped
The ongoing crypto winter has been harsh for everyone involved in the overall DeFi space. However, it has been specifically challenging for miners who are struggling to make profits from long-term holdings. Miners have always been synonymous with HODLing. Bitcoin volatility has brought tremendous returns for miners in the past decade, as significant bull runs […]
Alameda/FTX invested heavily in Bitcoin miner Genesis Digital
At the peak of the collapse of the world’s former second-largest cryptocurrency exchange FTX, the disgraced founder, Sam Bankman-Fried, placed his biggest bet with the Bitcoin mining business Genesis Digital Assets. According to a story that was published by Bloomberg on December 2nd, Alameda kept pouring money into the company even though the price of Bitcoin […]
PoW crypto mining banned by NY governor: Will mining become extinct?
Last week, New York Governor Kathy Hochul signed new regulations to ban certain crypto mining operations. The signed moratorium bans proof-of-work mining facilities that use any carbon-based power source for the new two years. Mining companies that use 100% renewable energy are exempt from this new law. The governor stated that this initiative will curb […]
Cleanspark acquires BTC mining facility with 86 MW capacity
The market has remained unfavorable for miners and investors for a while because of the lower influx of capital. Despite bearishness, some mining companies have continued to expand their operational capacity. Cleanspark is one of those names that have continued to look for enhanced services. It has added a significant amount to its capacity and […]
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Hosting provider Dynamics Mining has ended its hosting arrangement with Compass Mining. Dynamics the firm has failed to pay essential bills and was in default on its obligations under the terms of their hosting agreement. They canceled the hosting agreement as of June 14th, according to Dynamics’ letter uploaded to Twitter on June 26th evening. […]
Fort Worth becomes first U.S city government to launch Bitcoin mining project
TL;DR Breakdown Fort Worth is the first city government in the United State to mine Bitcoin. The City’s Mayor expects the project to put the suburban town on the global map. The mining site is located in the city hall and is to run 24/7. Fort Worth, one of Texas’s major cities, is the first […]
EU officials discuss a potential ban on BTC trading
TL; DR Breakdown EU officials want to ban BTC trading The officials want to eliminate proof of work mining EU officials are yet to make a decision Officials of the European Union have communicated a likely ban on all trades of Bitcoin in line with the previous proposal of a ban on Proof of Work […]
