Mining

It would appear several crypto mining companies out there continue to either purchase or inherit machines – even though profits in the industry seem to be dying either due to falling crypto prices or growing energy prices. Thus, while the industry is ailing at press time, it’s not giving up completely. Crypto Mining Isn’t Giving Up Not long ago, Clean Spark – a crypto mining firm that runs on renewable energy – bought as many as 3,843 crypto mining machines. The announcement was made on...

Gridless – a Kenyan-based Bitcoin mining company – has announced raising a $2 million seed investment round led by venture capital investor Stillmark and digital payments firm Block, Inc. According to the official press release, Gridless harnesses small-scale renewable energy grids in rural Africa. The company has participated in five different project contract pilots in rural Kenya alongside an African hydroelectric company – HydroBox. Currently, three of these pilots are...

The Financial Times (FT) published a document on Tuesday exposing where Alameda’s venture investments went days before the FTX Group filed for bankruptcy.  Its hundreds of investments included high-profile companies like SpaceX, and a variety of crypto tokens like Polygon (MATIC), and NEAR.  The spreadsheet, dated early November, included Alameda’s private equity portfolio, alongside “some FTX bets mixed in.” According to the document provided, Alameda had over $5.4 billion...

Alameda consulted troubled entrepreneur Sam Bankman-Fried before investing in Genesis Digital.A new report has surfaced about a capital injection of over $1.15 billion that was carried out by Sam Bankman-Fried‘s Alameda Research. This was prior to the time that crypto prices began heading for the rocks. According to the report, the capital, which is Alameda Research’s biggest venture investment to date, was put into Bitcoin mining firm Genesis Digital Assets. Although, according to another...

A new report by Kommersant revealed that sales of Bitcoin mining machines in the country surged rapidly in the fourth quarter, a trend backed by a resurgence of demand, despite the chaotic price action of the crypto-asset. The substantial increase was also spurred by cheap equipment and electricity prices. Chilkoot, which happens to be one of the official distributors of crypto mining rigs in Russia, witnessed more sales during the first two months of Q4 compared to the...

Core Scientific – one of world’s biggest publicly traded crypto mining firms – has announced it is considering bankruptcy protection as its stock has fallen by over 90 percent since the beginning of the year. The company has also stated it’s not likely to make any upcoming debt payments. Core Scientific Says It’s Thinking About Bankruptcy Core Scientific has been in trouble for some time. Not long ago, the firm mentioned it was going to release more than ten percent of its staff as a means...

Once again, Bitcoin miners went significantly lower in terms of monthly revenue, raking in only about $472 million in November.Bitcoin (BTC) mining continues to prove unprofitable as monthly revenues keep going down from previous values. According to data studied by The Block Research, the month of November saw Bitcoin mining revenue dwindle by almost 20% from its October value to reach a two-year low of 472 million.Bitcoin Mining Revenue Suffered in November amid Various Market...

The crypto mining sector is falling apart, and miners are being hit from all angles at the time of writing. Crypto Mining Is Beginning to Crash and Burn To be fair, the prices of many mainstream digital assets – such as bitcoin, the world’s number one digital currency by market cap – have remained relatively still over the past few weeks. While things are nowhere near as solid as they were a year ago, volatility has remained relatively low in the autumn and winter months compared to where...

TRX is one of the legacy digital currencies around today but which have also been impacted by the ongoing crypto winter.The digital currency ecosystem has evolved over the years and despite the twists and turns, it has become a self-sustaining industry where users earn both passive and active from. The industry’s growth has seen the emergence of unique avenues to make money including staking, mining, yield farming, lending, and borrowing.Besides these established avenues for earning profits,...

On-chain sleuth ZackXBT has tracked down some of the mixed Bitcoin funds stolen by the mysterious FTX hacker this month.  The analyst found that $4.1 million worth of Bitcoin (255 BTC) has ended up on OKX, a cryptocurrency exchange.  As explained on Twitter, the hacker initially deposited the stolen funds to CoinMixer – an anonymous Bitcoin mixing service designed to make on-chain Bitcoin transfers harder to track.  The first CoinMixer deposit was made on November 20th after...