Mining

[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...

Bitcoin mining is not boiling the ocean, said Michael Saylor during the Aug. 7 interview on “Bloomberg Open Interest.” However, the asset sure is boiling the MicroStrategy founder’s blood for a future-proof finance platform. Bloomberg Television’s Sonali Basak asked the insatiable Bitcoin custodian, “Beyond MicroStrategy, how do you hold Bitcoin personally? Do you have a significant personal stack in addition to what you own through MicroStrategy and through MicroStrategy...

After 11 years of dormancy, a Bitcoin wallet belonging to a miner, dating back to the Satoshi era in 2010, has come back to life. This entity suddenly became active on August 7 and transferred 250 BTC, worth approximately $13.95 million, to five new wallets. Historic Bitcoin Wallet From 2010 Awaken According to the latest update by popular on-chain tracker Lookonchain, the wallet originally earned 250 BTC through mining in May 2010 when Bitcoin was hovering below the $1 mark....

This Year’s Theme: “On the Move” Throughout history, people have left their homes for a variety of reasons and have found themselves in faraway places. This has led to encounters with foreign lands, their inhabitants, their customs, their flora and fauna. Cultural heritage collections are full of artifacts resulting from and bearing witness to those people “on the move”: archival records, travel reports, audiovisual documents, object collections, oral histories etc. These...

Bitcoin miner Riot Platforms revealed a net financial loss of $84.4 million during Q2 2024, registering its first quarterly loss since Q4 2022. The loss witnessed this quarter comes due to April’s Bitcoin halving event, cutting down mining rewards in half, and the Bitcoin network’s increased hash rate. Miners industry-wide had a hard time since the halving, registering losses and missing estimates. Riot increased selling the bitcoin it received as rewards for mining to cover rising expenses,...

Bitcoin (BTC) could be seeing less selling pressure from miners in the near term due to an increase in the profitability of this cohort of market participants and the recovery of their hashrate following the cryptocurrency’s rally to the $69,000 range. According to a CryptoQuant report, the Bitcoin network hashrate recovered while BTC had its latest rally. The metric’s drawdown from its all-time high is now 3%, compared to 8% on July 9. Bitcoin Network Hashrate Recovers On...

Marathon Digital (MARA) saw its shares drop over 8% in after-hours trading on Thursday following a second-quarter revenue report that fell short of Wall Street’s forecasts. However, the stock has since recovered some of these losses. Marathon Digital Sees a Revenue Miss Marathon Digital reported second-quarter revenue of $145.1 million, falling short of Wall Street’s forecast of $157.9 million, approximately 9% lower. The company attributed the revenue miss to operational...