Tag Archives: Bitcoin Mining

Texas has garnered a reputation for being very pro crypto. The state opened its borders to several miners from China about two years ago after their home country announced in the summer of 2021 that crypto mining would no longer be permitted per new rules from Beijing. Texas Citizens Have Mining Concerns With nowhere to turn, many reverted their sights to the Lone Star State, admiring its many open lands and its cheap electricity prices. Not wanting to miss out on...

Bitcoin mining company Marathon Digital Holdings announced producing 1,072 BTC in August, which represented a drop of 9% from the previous month due to extreme weather conditions in Texas. Despite the decrease in Bitcoin production, the figure is still five times more than in August of last year. Marathon’s Bitcoin Production: August Edition In its unaudited BTC production and miner installation updates for the month of August, Marathon Digital cited increased curtailment...

The leading cryptocurrency miner – Argo Blockchain – has reportedly decreased its debt to $75 million during the first half of the year. In comparison, it owed $143 million at the end of June 2022.  The company also managed to reduce overall costs and expenses. However, revenue in H1 was significantly less than the one registered in the first half of last year.  The H1 Results As reported by London South East, Argo Blockchain’s pretax loss for the first six months of 2023...

One of the leading cryptocurrency mining companies – Stronghold Digital Mining – is reportedly planning to use tire-derived fuel (made of shredded vehicle tires) in its operations in the state of Pennsylvania.  Burning such items is a toxic process that contaminates the nearby air, water, and soil. As such, it is no surprise that some locals and green activists are firmly against it. Mining BTC Via Such a Method is ‘Really Unacceptable’ According to a coverage by The...

While Bitcoin network fundamentals such as hash rate and difficulty have reached peaks, the same cannot be said for its hash price. The world’s largest crypto’s price has failed to recover, and miners are facing the brunt of it yet again. Bitcoin hash price – which can be described as the revenue generated by miners on a per tera-hash basis – has declined to levels not seen since the dramatic implosion of FTX in November 2022. Bitcoin Miner Revenue Declines Data from...

Bitcoin plunged below the $26,000 level on Wednesday extending monthly losses to nearly 15% but it has never been more difficult to mine the leading crypto-asset. Despite a severe drawdown in price, Bitcoin’s network fundamentals have largely refrained from following the same trajectory. In fact, Bitcoin’s mining difficulty has reached an all-time high of 55.62 trillion hashes, according to the latest data from CoinWarz. Data suggest that the next difficulty adjustment is...

CoinspeakerBitcoin Mining Difficulty Soars to New ATH amid BTC Price Dip Recent data have left analysts optimistic about what the future holds for Bitcoin and the largest altcoin Ether (ETH). Bitcoin Mining Difficulty Soars to New ATH amid BTC Price Dip

A former Chinese government official, Xiao Yi, has been sentenced to life in prison for helping subsidize a secret, large-scale Bitcoin mining operation within the country’s borders, alongside unrelated acts of corruption. Yi pled guilty to the charges, and the government has already seized all of his bribes and profits. Illegally Helping A Bitcoin Miner On Tuesday, Yi was specifically convicted of abusing his power by providing financial and electricity subsidies to Jiumu...

CoinspeakerBitcoin Mining in Lebanon Turns Ultra Cheaper in Comparison to Italy Recent survey shows that Italy is the most expensive country for mining Bitcoin at $208,560 for each BTC produced. Bitcoin Mining in Lebanon Turns Ultra Cheaper in Comparison to Italy

Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has reportedly opened a new data hosting and cryptocurrency mining center in the Salalah Free Zone. The facility’s estimated value is over RO 135 million (more than $350 million). Another country that decided to spend millions of dollars on a crypto mine is Kyrgyzstan, whose center will be powered by a hydroelectric station near the Naryn river. Doubling Down As reported by a local media outlet,...