Virginia Senate debates bill easing digital asset mining laws
The Virginia State Senate is currently deliberating a bill to establish new guidelines for digital asset mining and transactions, potentially impacting the treatment of such activities under tax laws. Introduced by Senator Saddam Azlan Salim, the youngest member of the Senate at 34, Senate Bill No. 339 presents groundbreaking changes in the legal landscape for […]
Bit Mining sells its mining pool operations for $5 million
Bit Mining Limited recently made headlines with the announcement of the sale of its mining pool operations associated with Btc.com for a substantial sum of $5 million. This strategic move is poised to fortify Bit Mining’s shareholders’ total equity, pending certain concluding conditions. The publicly-listed company, identified on the New York Stock Exchange under the […]
Hut 8 set to finalize its merger agreement with USBTC
Hut 8 is on the brink of finalizing its merger with US Bitcoin Corp, a move set to usher in a new era of geographic diversity and increased revenue streams for the company. Termed a “merger of equals” by executives, the deal, initially disclosed in February, has gained momentum, with USBTC stockholders recently granting their […]
Pennsylvania reverses crypto mining permit ban amid union pressure
Pennsylvania’s proposed cryptocurrency mining ban has been removed from a bill aimed at regulating the industry’s energy consumption. The move came after intense pressure from trade labor unions and concerns about the impact on Democratic Party support. Instead of the ban, the bill now imposes ongoing reporting requirements on crypto miners operating in the state. […]
Chinese-backed Bitcoin mining in the US sparks national security worries
To safeguard national security interests, U.S. authorities have been closely monitoring certain cryptocurrency mining operations linked to China. Recent reports indicate that some Bitcoin data centers within the United States have direct connections to the Chinese government, sparking heightened concerns. This surveillance has raised questions about the proximity of such operations to military facilities and […]
Iris Energy expands mining capabilities ahead of Bitcoin halving
As the highly anticipated Bitcoin “halving” event looms just six months away, Iris Energy, a Canada-based Bitcoin mining company, is making significant strides to boost its mining capabilities. On Friday, the company confirmed a substantial increase in its total hashrate, surging by 25% from 5.6 exahashes per second (EH/s) to 7.0 EH/s. This expansion was […]
Tecpetrol pioneers gas-driven crypto mining in Argentine Patagonia
Buenos Aires-based oil firm Tecpetrol has rolled out an innovative solution. By mid-fall, the company will launch its first gas-driven crypto mining facility in the Los Toldos 2 Este region, located north of Vaca Muerta in Argentine Patagonia. This endeavor stems from a dual motivation, advancing their crude oil production while capitalizing on otherwise discarded […]
Core Scientific receives a $53.9M boost from mining giant Bitmain
Bitmain, a globally acknowledged manufacturer of cryptocurrency mining servers, has disclosed plans to invest $53.9 million in Core Scientific. This North American juggernaut is renowned for its prowess in blockchain computing data centers and tailored software solutions. This recent investment is not just a financial gesture but a clear endorsement of the enduring partnership between […]
British Columbia Court approves Hut 8 and USBTC merger for new entity
The Supreme Court of British Columbia has officially sanctioned the merger between Canadian Bitcoin mining giant Hut 8 and US Bitcoin (USBTC). Announced initially in February 2023, the union aims to form a new entity, Hut 8 Corporation, colloquially known as “New Hut.” This new venture will be a publicly traded company based in the […]
US Senator Ted Cruz shows support for Bitcoin mining in Texas
In a show of support for the burgeoning Bitcoin mining industry in Texas, Senator Ted Cruz has extolled the virtues of cryptocurrency mining on Fox News Radio. Cruz, who had previously run for the Republican presidential nomination, emphasized the benefits of Bitcoin mining for the energy grids during extreme weather conditions. He stated that he […]
Bitdeer Technologies achieves milestone with the completion of Bhutan mining facility
Singaporean entrepreneur Jihan Wu’s Bitdeer Technologies has completed the construction of its cutting-edge mining facility nestled in the picturesque landscape of Bhutan. The company, at the forefront of cryptocurrency mining, has now commenced the crucial power-on testing phase, marking a significant step forward in its operational journey. As Bitdeer CEO Linghui Kong affirmed, an impressive […]
London’s Argo blockchain secures £5.7 million in funding for expansion
London-based cryptocurrency mining company, Argo Blockchain (ARB), has successfully raised £5.7 million ($7.5 million) by issuing additional shares. The company, listed on the London Stock Exchange, recently announced its decision to sell shares to raise funds. The public auction yielded £616,000, while the private offering brought a substantial £5.134 million. These funds will be utilized […]
