Tag Archives: Bitcoin Mining

It would appear several crypto mining companies out there continue to either purchase or inherit machines – even though profits in the industry seem to be dying either due to falling crypto prices or growing energy prices. Thus, while the industry is ailing at press time, it’s not giving up completely. Crypto Mining Isn’t Giving Up Not long ago, Clean Spark – a crypto mining firm that runs on renewable energy – bought as many as 3,843 crypto mining machines. The announcement was made on...

Gridless – a Kenyan-based Bitcoin mining company – has announced raising a $2 million seed investment round led by venture capital investor Stillmark and digital payments firm Block, Inc. According to the official press release, Gridless harnesses small-scale renewable energy grids in rural Africa. The company has participated in five different project contract pilots in rural Kenya alongside an African hydroelectric company – HydroBox. Currently, three of these pilots are...

A new report by Kommersant revealed that sales of Bitcoin mining machines in the country surged rapidly in the fourth quarter, a trend backed by a resurgence of demand, despite the chaotic price action of the crypto-asset. The substantial increase was also spurred by cheap equipment and electricity prices. Chilkoot, which happens to be one of the official distributors of crypto mining rigs in Russia, witnessed more sales during the first two months of Q4 compared to the...

Core Scientific – one of world’s biggest publicly traded crypto mining firms – has announced it is considering bankruptcy protection as its stock has fallen by over 90 percent since the beginning of the year. The company has also stated it’s not likely to make any upcoming debt payments. Core Scientific Says It’s Thinking About Bankruptcy Core Scientific has been in trouble for some time. Not long ago, the firm mentioned it was going to release more than ten percent of its staff as a means...

The crypto mining sector is falling apart, and miners are being hit from all angles at the time of writing. Crypto Mining Is Beginning to Crash and Burn To be fair, the prices of many mainstream digital assets – such as bitcoin, the world’s number one digital currency by market cap – have remained relatively still over the past few weeks. While things are nowhere near as solid as they were a year ago, volatility has remained relatively low in the autumn and winter months compared to where...

Digital Currency Group’s subsidiary and crypto mining firm Foundry Digital plans to acquire two turnkey crypto mining facilities in the United States from the embattled Bitcoin miner Compute North. In the latest press release, Foundry also said it would also acquire other assets in addition to an option to buy a third facility that is under development from the computing infrastructure company. Acquisition Details Foundry will buy Compute North’s North Sioux City, SD, and Big...

Public-traded Bitcoin mining company Core Scientific has lost about $1.7 billion since the start of the year, according to its quarterly report filed with the United States Securities and Exchange Commission (SEC) on Tuesday. The filing shows that the firm recorded its second consecutive quarterly loss at the end of Q3. The Bitcoin miner lost $435 million in Q3 and $862 million in Q2, bringing its net loss for the year to a staggering $1.7 billion. Core Scientific Seeks Fresh...

The crypto mining scene has been in a terrible state of disarray over the past few months, but there appears to be an answer in a platform called Maple Finance. Maple Finance Is Trying to Aid the Mining Community The digital currency mining scene has been falling into the doldrums as of late. With assets like bitcoin losing more than 70 percent of their values since hitting new all-time highs last November, it seems it’s becoming much more expensive to mine crypto, and...

Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidiaries. Nevertheless, the firm still maintains that its business continues to be profitable. Immediate Repayment of Loan Demanded The subsidiaries operating as Special Purpose Vehicles (SPVs) used Bitmain mining rigs financed by a $107.8 million loan from the New York Digital...

JKL Group is establishing a new $50 million crypto mining business. The money is set to come from institutions like family offices, individual investors, and HNWI. JKL Group Is Entering the Crypto Mining Arena As an APAC, JKL Group is now being billed as the first company of its kind to step into the digital currency mining arena and establish such an enterprise. The company says it has seen a “growing interest” in bitcoin from its many clients, and the firm is now...