Tag Archives: Bitcoin Mining

Texas became a serious crypto mining hub about two years ago, and it looks like things are set to stay this way for some time. Despite a wide array of headwinds and problems the industry has been facing, Texas crypto mining has remained quite steady, and the Lone Star State is still being sought out by new companies and facilities. Texas Is Still the High-Ranking Crypto Mining Official Texas became a serious region for crypto mining beginning in the summer of 2021. The...

The authorities of Venezuela have reportedly urged local bitcoin miners to temporarily halt operations while inspecting a major corruption scheme that could have drained up to $20 billion. People who are part of President Maduro’s inner cycle are suspected of orchestrating the crime that involved the national oil and gas company – Petróleos de Venezuela. Pausing Crypto Activities During the Investigation According to a Forbes coverage, large-scale BTC miners in Venezuela will...

Several public Bitcoin miners were on the brink of bankruptcy at the end of last year. But the latest rally in the market infused a sense of careful optimism into the Bitcoin mining sector, resulting in massive gains for most associated stocks. Bitcoin Mining Stocks for the Win As Bitcoin miners slowly escape the incessant bear trap, stocks related to the sector are now seeing a notable resurgence. According to BTC mining expert Jaran Mellerud, bitcoin mining stocks have...

The US-based cryptocurrency miner – CleanSpark – purchased 45,000 units of the Antminer S19 XP BTC mining machines for $144.9 million.  The current computing power of CleanSpark is 6.7 EH/s, while the installation of the new equipment is expected to push it to 13 EH/s.  Preparing for the Halving According to the deal, the manufacturer will distribute 25,000 units in August, while the remaining 20,000 should arrive in September. CleanSpark plans to deploy all of them at its...

The Singaporean cryptocurrency miner – Bitdeer – expects to go public on April 14 after finalizing the SPAC merger with Blue Safari Group Acquisition Corp. The former displayed its intentions to enter Nasdaq in November 2021. However, shareholders of Blue Safari delayed the initiative three times in the past several months due to the harsh environment caused by the bear market. The ‘Significant Milestone’ As announced by the US Securities and Exchange Commission (SEC),...

A bitcoin miner is getting a huge reward at the time of writing after beating out his fellow miners to add bitcoin block 780,112 to the blockchain. A Bitcoin Miner Is Getting a Huge Reward At press time, the person in question is receiving a total of $148,000 in BTC. This consists of a 6.25 BTC reward along with an additional fee payment of 0.63 in bitcoin for the work he’s completed. The miner beat the odds in many ways given how many others were working to resolve the...

The state of Missouri is in line to become one of the most crypto-friendly in the Union given it’s just passed a string of regulatory acts designed to protect the rights of bitcoin and crypto miners. Missouri Seeks to Keep Crypto Miners Protected Missouri legislators recently voted to amend what’s known as House Bill 764. Introduced last January, the bill defines the language and descriptions surrounding cryptocurrency miners. It also says that no crypto miner can be...

The Digital Currency Group will revamp its way of mining Bitcoin amid larger funding problems due mostly in part to another subsidiary of theirs, Genesis, going bankrupt as a result of their dealings with FTX. Freeing Up Revenue Although Genesis reached an agreement with its creditors – the crypto trading platform’s parent company, DCG, being one of them – the former is marked for sell-off as soon as a buyer appears. The arrangement DCG and its subsidiary have entered was a...

The federal government is looking to regulate crypto mining in the United States, and Wyoming Senator Cynthia Lummis isn’t happy about that. Cynthia Lummis Wants to Leave Crypto Mining Alone Since entering Congress in early 2021, Lummis (a republican) has widely been labeled as a friend to crypto given she’s invested in bitcoin before. She’s also developed a new bill that would carve out rules and regulations for establishing all future crypto bills in the U.S. in the...

After severe turbulence in the Bitcoin mining industry last year, there seems to be a significant resurgence since the start of 2023. While it has become even harder to mine BTC, miner revenue has also increased in a much-needed respite for such entities. Bitcoin’s network hash rate, which has been on a steady uptrend, has climbed to another record high of 342.16 EH/s. Foundry USA and Antpool have been dominating the hash rate with 33.9% and 18.7%, respectively. Closely...