Mining

One of the leading bitcoin mining companies – Core Scientific – mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s. The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year. Over 1.4K BTC Mined The US-based firm produced 1,356 and 1,435 self-mined BTC in November and December, respectively, and 795 and 931 bitcoin for colocation...

Smartphone-based blockchain mining project Pi Network has issued another clarification on the unauthorized listing of Pi coins, saying they are not available for trading yet. Pi Network has been in existence since 2018 and launched its Pi coin for mining by its community members, called “Pioneers,” in March 2019. These assets can be traded once Pi Network upgrades to Open Mainnet. Pi Network Disclaimer Right now, the network is in the Enclosed Mainnet state, which makes its...

Of all the people or companies in the crypto space, lenders likely have it worse than anyone or anything. They are the ones giving money to the crypto companies that are now failing or struggling to stay afloat. In many cases, they are not able to repay the funds they’ve utilized or borrowed, which really puts a lot of these lending firms on edge. Lenders Are Enduring Trouble from Crypto Miners Instead of money, lenders are instead receiving machines from miners – who at...

Troubled Bitcoin miner Core Scientific will shut down more than 37,000 crypto mining rigs belonging to bankrupt crypto lender Celsius Network as both firms finally reach an agreement in court. Core Scientific, which hosts rigs for Celsius, filed for Chapter 11 bankruptcy in December and had partially blamed the lender for its financial troubles. Both companies have a hosting deal in which the mining firm transfers some energy costs to Celsius. The Legal Fight The two parties...

New York, for lack of better terms, is behaving very foolishly when it comes to the growing crypto space. New York Should View Crypto in a Stronger Light The industry has shown itself to have a lot of prowess despite the volatility of coins and the actions of a few bad companies here and there. In many ways, the industry is likely to revolutionize finance in more ways than one, but when a major hub like the Empire State continues to turn its back on the industry and...

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The streak of bankruptcies and price declines has dampened glimmers of positive progress. But Bitcoin just turned 14 today. January 3 is known as Bitcoin Genesis Day for the first block of BTC ever mined by Satoshi way back in 2009, which paved the way for the cryptocurrency as we know it today. The first block on the network hosts a single transaction – the 50 BTC block reward – sent to the pseudonymous creator(s) for mining it. The BTC mining rewards are yet to be touched....

It’s happened, folks. We’ve always known New York wasn’t crazy about cryptocurrency, but this new law its governor has recently passed clearly takes its dislike of the industry to a whole new level. The law will limit crypto mining within the state and guarantees safe passage only to firms that utilize green energy. New York Puts Limits on Crypto Mining The bill has been on the table for many weeks, though New York Governor Kathy Hochul has been slow to make a clear...

Emiliano Grodzki has stepped down as CEO of leading Bitcoin mining firm Bitfarms, joining a long list of crypto executives who resigned from their positions amid the bear market this year. The mining company named Geoffrey Morphy as its new CEO, promoting him from his role as president and chief operating officer (COO). “Our foundational work over the last years built the strength and depth of skills we needed to navigate external factors. I’m even more optimistic today...

The Solana ecosystem that was once heavily tied to Sam Bankman-Fried’s FTX has been badly wounded after the collapse. As debates accelerated over the prospects of Solana, its native token – SOL – has plummeted 96% from its all-time high of $260 in November last year. Adding to its woes, crypto asset management company Matrixport is reportedly gearing up to delist Solana and Solana-U dual currency investment products on December 30th. Interestingly, Matrixport is founded by...