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Tag Archives: Bitcoin Mining

Bitcoin Halving Sparks Migration of US Mining Equipment to Low-Cost Power Countries: Report

As the much-anticipated Bitcoin halving event looms in late April, a migration of outdated mining equipment from the United States to regions offering cheaper electricity is underway. This migration is driven by the need to maintain profitability due to reduced mining rewards and escalating operational costs. US Bitcoin Miners Prepare for Halving According to a Bloomberg report, approximately 6,000 aging Bitcoin mining machines are set to be decommissioned in the U.S., with...

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Core Scientific Reports Yearly Revenue Decrease in Q4 2023, Net Losses Shrink

Bitcoin mining firm Core Scientific announced that total revenue for fiscal year 2023 amounted to $502.4 million, reflecting a decrease of $137.9 million or 22% from the $640.3 million recorded in the previous year. Core Scientific said that it had successfully mined 19,274 BTC (valued at approximately $1.4 billion) during 2023 despite undergoing bankruptcy. Core Scientific Reports Revenue Fall According to the official press release, the decline in total revenue stemmed...

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Daily Bitcoin Miner Revenue Reached New Peak Amid BTC Rall, Exceeding April 2021 Levels

Bitcoin mining earnings reached their highest-ever level recently, coinciding with the ongoing surge in the value of the leading crypto asset. According to the figures compiled by CryptoQuant, miners made a daily revenue of $78.6 million on March 7, surpassing the previous record set during the peak of the crypto boom in April 2021. Miners accrue income through both newly minted coins for verifying and recording transactions on the blockchain and through transaction fees paid...

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The Bitcoin Halving is Getting Near: Miners Need to Prepare, According to Fidelity

Fidelity Digital Assets have stated in a recent report that while Bitcoin (BTC) holders typically anticipate the quadrennial reward halving to boost prices, miners must actively strategize to plan for the upcoming event to prevent going bankrupt. Notably, the halving event, expected on or around April 19, will reduce their earned Bitcoin by 50%. Bitcoin Miners’ Challenges as Halving Nears According to analyst Daniel Gray, miners must sustain their current hash rate, energy...

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Bitcoin Miners Earned $75.9 Million in Daily Revenue, Second-Highest in History

Amidst the market-wide rally, Bitcoin miners appear to be reaping substantial rewards. On March 6th, they earned a staggering $75.9 million in daily revenue marking the second-highest figure in the leading crypto asset’s history. This also represented a notable increase of 30.74% from the previous day and a remarkable surge of 293.1% compared to the same date one year ago. Record-Breaking Day for Bitcoin Miners As updated by Julio Moreno, head of research at CryptoQuant, this...

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Marathon Digital Reports Revenue Increases of 452%

U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put a bit of a damper on its plans, as did the SEC, who targeted the firm among a slew...

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Bitcoin-Mining: Ein Wegbereiter für den Boom erneuerbarer Energien

In der Debatte um den ökologischen Fußabdruck digitaler Währungen steht Bitcoin oft im Mittelpunkt der Kritik, vor allem wegen seines hohen Energiebedarfs. Doch eine wachsende Zahl von Experten und Untersuchungen deutet darauf hin, dass das Mining von Bitcoin nicht nur mit dem Verbrauch von Energie verbunden ist, sondern auch als ein Treiber für die Entwicklung und den Einsatz erneuerbarer Energiequellen dienen könnte. Das Mining, der Prozess, durch den neue Bitcoins generiert und...

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CleanSpark Anticipates Doubling Operating Hash Rate Ahead of Bitcoin Halving

CleanSpark Inc., a prominent participant in the Bitcoin mining industry, has unveiled plans to increase its operating hash rate. The company aims to double its hash rate in preparation for the upcoming Bitcoin halving event. In light of this, the firm has revealed strategic acquisitions and expansion initiatives to enhance its mining capabilities and geographic reach. Bitcoin Mining Facility Acquisitions In a recent press release, CleanSpark revealed its agreements to...

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Bitcoin Miner Selling Pressure Lowers as BTC Price Goes Above $47K: CryptoQuant

On-chain analysis by market intelligence platform CryptoQuant has found that selling pressure from Bitcoin miners has eased and remained low despite a significant decline in transaction fees. According to the firm’s latest weekly report, Bitcoin sold daily by miners currently sits around 300 BTC, significantly down from the companies’ 800 BTC daily sales in November and December 2023. Bitcoin Miner Selling Pressure Remains Low Bitcoin miner selling pressure has stayed low in...

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