Tag Archives: Bitcoin Mining

Blockstream, a leading bitcoin infrastructure provider, announced on January 24 that it had raised $125 million in funding to expand its institutional bitcoin mining services. This fundraising round was led by Kingsway Capital, a UK-based private equity fund, and included participation from other investors such as Fulgur Ventures and Cohen & Company Capital Markets. This is the first fundraising for Blockstream since its 2021 Series B round, where the company raised $210...

Not long ago, the state of New York imposed a moratorium on crypto mining, thus barring any firms that did not fully rely on clean energy from entering its borders and setting up shop. Initially, the ban was set to last a total of two years, though now, local legislators are considering extending the ban. The New York Crypto Moratorium Could Be Extended A town board meeting has been put on the calendar regarding the moratorium in the region of Massena. Town supervisor...

Despite much turmoil in 2022, the Bitcoin mining industry’s hashing technology only continued to grow more efficient throughout the year, according to a new survey from the Bitcoin Mining Council (BMC).  The industry also grew marginally greener, retaining a sustainable energy mix of over 58%. Bitcoin is Green, Says BMC In a press release on Thursday, the BMC confirmed that its members’ hashrate has increased from 95 exahashes from its inception in Q1 2022 to 119 exahashes by...

Bitcoin mining company – CleanSpark – has started the construction of the second phase on a site in Washington, Georgia, that is set to accommodate 16,000 miners. This move is expected to increase its hash rate total to as high as 8.7 EH/s, thereby contributing an additional 2.2 EH/s. In the new phase, the mining machine fleet will include – Antminer S19j Pro and Antminer S19 XP – which are considered to be the latest and most power-efficient models of such machines currently...

Argo Blockchain – one of the largest and most powerful digital currency mining enterprises in the world – has announced a new plan that will allow it to avoid bankruptcy and become another company that falls victim to the ongoing bear conditions of the crypto arena. Argo Blockchain Won’t Have to File Bankruptcy Argo has agreed to sell its bitcoin mining facility (called Helios) for $65 million to Galaxy Digital, the hedge fund managed by Mike Novogratz, a billionaire...

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The bitcoin mining giant – Argo Blockchain – mined 147 BTC in December, roughly 25% less than the production levels registered in November. The main reason for the decrease was a massive winter storm that hit the US last month and negatively affected the company’s Helios facility in Dickens County, Texas. The Cyclone’s Effect The severe snow blizzard that impacted much of the States around Christmas prompted Argo Blockchain to join other Texas BTC miners in reducing...

The mining data site Hashrate Index has released a report reflecting on the state of the Bitcoin mining industry throughout 2022.  The analysis examines the steep decline in mining profitability in 2022 compared to 2021 amid plummeting Bitcoin prices and a rising hash rate.  The Hardest Hitting Bear Market Per the report published on Wednesday, Bitcoin’s hashprice reached an all-time low of $55.94/PH/day in November of last year. Hashprice is a dollar-denominated measure of...

Another crypto mining firm is in trouble. This time, the alleged victim is Greenidge Generation (GREE), which has hinted that it could file bankruptcy in the coming weeks if its present deal with NYDIG doesn’t work out. Greenidge Generation Could Be the Next to Go The company is struggling to restructure its nearly $75 million debt. By doing this, the company could avoid a long bankruptcy line that initially began last summer with firms like Celsius, though Greenidge is...

Core Scientific – one of the largest digital currency mining firms in the world – has announced it’s filing for chapter 11 bankruptcy protection. The proceedings took place in a federal bankruptcy court in southern Texas. Core Scientific Is Filing Bankruptcy Core Scientific has been hinting at potential bankruptcy for some time. It stated in its official court documents that the declining price of bitcoin, as well as rising electricity prices to run its mining centers...