Tag Archives: Bitcoin Mining

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...

Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a “mining development kit (MDK). Block Wants to Boost Bitcoin Mining Opportunities The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain. Dorsey and his crypto-fanatical cronies are hoping this will help to educate more people about...

One of the leading crypto mining firms – Marathon Digital – mined a record 2,195 BTC during the year’s first quarter and increased its holdings to 11,466 bitcoin (equivalent to over $321 million at current prices). The positive result at the start of the year contrast with the performance from 2022. The company’s mining capacity was crippled due to a massive storm last summer, while its multi-million exposure to the troubled data center – Compute North – caused additional...

Northeast Pennsylvania is the present home of a new bitcoin experiment. Known as Nautilus, the experiment is about to go live online, and it’s hosted by a firm called Terawulf. Nautilus Will Soon Be Online Nautilus is a mining facility. At first glance, this doesn’t sound all that exciting given mining is something all crypto fans are used to hearing about. After all, mining is what gives birth to crypto units like bitcoin. However, what’s unique is that Nautilus is set...

Bitcoin mining firm Vortex Brands has announced a huge plan for expansion that would see its mining power increase significantly over the next several years. Vortex Brands Wants to Do More Mining To do this, Vortex has said it will put more money into its equipment and buy additional rigs. The goal is to up the amount of BTC extracted from the blockchain given the company believes the price of the world’s number one digital asset is sure to rise steadily in the...

A former employee at a high school in Cohasset has been arrested for running a secret crypto mining facility underneath the building that employed him. Nadeam Nahas – age 39 – served as the assistant facilities director at the high school in question, which remains unnamed at the time of writing. Nadeam Nahas Will Have to Explain Himself Initially, Nahas was just set to appear in a Quincy District Court to explain himself and the reasoning behind creating such an...

A fight is brewing between a cryptocurrency mining firm in Niagara Falls, New York and city regulators. The city wants the enterprise shut down, while the facility is working hard to keep its license in play so it can continue its business. The company in question is called Block Fusion, and it’s been working for many years in an old industrial site on Frontier Avenue. Block Fusion Is Engaged in a Crypto Lawsuit New York has not been a kind region to crypto companies....

Bitcoin has been having a very good year in 2023. The currency is up 50 percent since the end of 2022, and it looks like it’s going to be enjoying at least another few solid months in the coming future thanks to leniency from China. China Is Stepping Back Into the Crypto Picture For the most part, China has always been a big player in the bitcoin and crypto communities. The country once accounted for close to three quarters of the world’s bitcoin and crypto mining...