Mining

In a post on X on Aug. 16, crypto ESG advocate and researcher Daniel Batten posted a rebuttal to an Aug. 15 IMF report on Bitcoin mining emissions. He argued that the IMF report uses flawed rhetorical techniques, such as “guilt by association,” by linking Bitcoin mining with AI data centers’ energy consumption. The report titled “Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help” bundled crypto and AI together, labeling them as “power hungry” threats to...

TeraWulf’s second-quarter earnings report, released earlier in August, demonstrated mixed performance. While the company produced less BTC than in the same period in 2023, its revenue increased modestly compared to the estimated figures. TeraWulf’s Q2 Results The report revealed that TeraWulf mined 699 BTC across its Lake Mariner and Nautilus Cryptomine facilities, a 21% decrease from the same period last year. The firm’s revenue for the quarter, on the other hand, was $35.6...

The Bitcoin network hashrate hit a new all-time high earlier this week following increased selling from smaller mining entities. At the same time, the miner hash price has plunged to a record low. According to a report from CryptoQuant, Bitcoin’s hashrate currently stands at 627 exahashes per second (EH/s), representing a significant recovery from an 8.5% drawdown in July. The spike comes as BTC struggles to remain above $58,000 and trades at a level 20% below its all-time...

The International Monetary Fund (IMF) recently suggested a significant increase in electricity taxes for cryptocurrency mining, which could lead to a global reduction in carbon emissions. Two IMF executives, Shafik Hebous and Nate Vernon-Lin, proposed raising electricity taxes by up to 85% for crypto miners. They believe this move could help reduce the environmental impact of crypto mining. The proposal involves a tax of $0.047 per kilowatt hour on electricity used by crypto miners. This...

Texas-based Bitcoin mining company Core Scientific has announced the pricing of its increased offering of $400 million in 3.00% convertible senior notes due in 2029. The initial size of the offering was $350 million, which has been upsized due to favorable market conditions. Scheduled to settle on August 19, 2024, the notes will be issued privately to qualified institutional buyers. The initial buyers will be granted an option to acquire an additional $60 million in notes....

Marathon Digital Holdings, a leading Bitcoin mining company, has announced a $250 million private offering of convertible senior notes. This move has sparked debate within the industry as Marathon aims to strengthen its Bitcoin holdings for the long term. The notes are due to mature in September 2031 and offer investors the option to convert them into cash, Marathon’s stock, or a combination of both. According to their blog post, the offering is being made under the United States Securities...

[PRESS RELEASE – Vilnius, Lithuania, August 8th, 2024] WhiteBIT, one of Europe’s largest crypto exchanges, has announced the launch of a new product—the WhitePool mining pool. This innovative platform marks a significant step in the development of WhiteBIT ecosystem and opens up extensive opportunities for professional miners. The global cryptocurrency mining market is set for growth, with its market size expected to reach approximately $2.45 billion in 2024 and a projected...

Bitcoin mining firm Marathon Digital Holdings has announced plans for a $250 million offering of convertible senior notes due in 2031. The latest private offering is targeted at “qualified institutional buyers.” The firm aims to use the proceeds for the acquisition of Bitcoin as well as corporate growth. The company also has the option to increase the offering by an additional $37.5 million, depending on market conditions. These notes, which will be unsecured and senior...

Want to mine Bitcoin but don’t have the best cloud mining gear? Bitcoin cloud mining is a popular solution,In this blog post, we will explore the top seven free cloud mining platforms that can help you start your journey towards financial freedom. Discover how you can leverage technology to earn money effortlessly with cloud mining in 2024! What is cloud mining?  Typically, mining Bitcoin and other cryptocurrencies is an intensive process that involves significant costs — including...

Toronto-based Bitcoin mining company Bitfarms reported a total revenue of $42 million, marking a 16% decline quarter-over-quarter. This decrease is attributed to the reduction in block rewards resulting from the BTC halving event on April 19, 2024. Q2 Financial Result Bitfarms reported a net loss of $27 million, or $0.07 per share, which includes a $1 million non-cash expense for revaluing warrant liabilities from financing activities in 2021 and 2023. This compares to a net...