Mining

Marathon Digital (MARA) observed declining stock price as it did not meet Wall Street’s profit expectations. The price fell as much as 8% on Thursday with the announcement of its second-quarter revenues. It reported $145.1 million, falling short of the $157.9 million estimate. Marathon faced numerous obstacles, including operational ones that hampered its ability to mine at its usual capacity and the reduced mining rewards caused by April’s halving event. In a statement, Marathon CEO Fred...

Bitcoin miner Marathon Digital (MARA) has acquired $100 million of bitcoin (BTC) from the open market while stating it plans on going back to holding the BTC it makes from its mining efforts. It began offloading the BTC from its reserve to cover operational expenses as the asset’s price dropped last year. In a statement, MARA relayed that “it has purchased $100 million of bitcoin and currently holds over 20,000 BTC on its balance sheet. Furthermore, effective immediately, MARA will adopt a...

Savvy and novice crypto investors have searched for potentially profitable tokens before the next rally. While BlockDAG (BDAG) and DTX Exchange (DTX) had initially made airwaves in the crypto market, they are quickly losing investors to RCO Finance (RCOF), an upcoming DeFi token.  Why are BlockDAG (BDAG) and DTX Exchange (DTX) investors flocking to RCO Finance? Continue reading to find out! BlockDAG (BDAG) Presale Slows Down As Investors Seek Alternatives BlockDAG is a budding Layer...

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The leading American Bitcoin mining company – Riot Platforms – has acquired the Kentucky-based firm Block Mining in a transaction valued at $92.5 million. The deal, announced on July 24, includes $18.5 million in cash from Riot’s reserves and $74 million in Riot common stock. Additionally, Block Mining could receive up to $32.5 million more, based on performance metrics through 2025. Riot Platforms Drops $92.5M on Block Mining In its official press release, Riot said that it...

The 2024 US presidential elections are arguably one of the most important political events that the entire world is watching. Donald Trump, the former president and current Republican candidate, has gone live on the stage of Bitcoin 2024, a BTC-centered conference held in Nashville. He has spent recent weeks trying to make amends with the cryptocurrency industry, having met with some of the largest Bitcoin mining companies and others. Speaking live at Bitcoin 2024, he said...

Well-known cryptocurrency critic and United States Senator Elizabeth Warren is waging war on digital asset miners, especially foreign-owned facilities, for their supposed risks to environmental and national security. During a recent Senate Committee on Banking, Housing, and Urban Affairs hearing, Warren questioned the Treasury Department’s assistant secretary for investment security, the Honorable Paul Rosen, about the threat such entities pose on U.S. soil. A Threat on U.S....

Marathon Digital, the world’s largest Bitcoin mining company, has announced its latest purchase of $100 million worth of BTC, increasing its stash to more than 20,000 BTC. According to a press release, Marathon is changing its approach to its Bitcoin treasury policy and adopting a full HDOL strategy. This means that the miner will hold all BTC produced during its operations and will periodically make more open-market purchases going forward. Marathon Adopts BTC HODL Strategy...

On July 23, Cynthia Lummis released a report arguing against the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. Lummis argues that this tax could severely impact the growing Bitcoin mining industry in the U.S., based on what she describes as “unfounded concerns” about environmental pollution and risks to the energy grid. Lummis’ Critique “Even if we assume the administration’s goals are genuine, this tax should still be rejected,”...

Marathon Digital, the industry-leading Bitcoin mining firm, was fined $138 million for breaking a non-circumvention agreement with ex-executive Michael Ho. Ho also co-founded US Bitcoin Corp and serves as the chief strategic officer for Hut 8, another well-known Bitcoin mining company. A press release on the matter stated, “A federal court jury unanimously ruled in favor of Michael Ho against Marathon Digital Holdings, Inc. for $138 million after finding that Marathon breached a...