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...
Read More »Nadeam Nahas Arrested for Running Crypto Mining Enterprise Beneath a High School
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...
Read More »Crypto Firm Block Fusion in Legal Battle with Niagara Falls
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....
Read More »Could China Once Again Be a Crypto Haven?
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...
Read More »Greenpeace Blasts Bitcoin With Artwork Depicting Environmental Damage – Bitcoiners Love It
Greepeace’s latest marketing stunt in its campaign against the Bitcoin mining industry appears to have backfired, with BTC boosters welcoming its artistic fruit. Meanwhile, Bitcoiners continue to blast the organization’s efforts to disparage the network as environmentally harmful, remaining committed to its proof of work consensus mechanism. The Skull of Satoshi In a tweet on Friday, Greenpeace echoed previous claims that Bitcoin is causing “dangerous amounts of real-world...
Read More »Core Scientific to Send $20M Worth of Mining Equipment to Settle Payment Dispute
The United States Bankruptcy Court for the Southern District of Texas ordered Core Scientific to transfer approximately $20.8 million worth of mining equipment to the energy infrastructure firm – Priority Power. The entities had a dispute over two mining facilities located in Texas that were supposed to supply Core Scientific with 1,000 megawatts of electricity. The Judge’s Decision The judge involved in Core Scientific’s bankruptcy case – David Jones – ordered the company...
Read More »Marathon Digital (MARA) Shares Up 7% though Firm Reports Lower Q4 2022 Revenue
Marathon Digital has also revealed the nature of its exposure to the now-defunct crypto-focused Silvergate Bank. Embattled Bitcoin (BTC) mining firm, Marathon Digital Holdings Inc (NASDAQ: MARA) has released its performance report for the fourth quarter (Q4) of 2022 in which it unveiled a poorer-than-expected revenue. According to the firm, its revenue came in at $28.4 million, down by 58% from its year-ago record. Marathon Digital operates in a very strained market as the global economy,...
Read More »Jack Dorsey’s Block Unveils Plans for Its DIY Bitcoin Mining Development Kit
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Read More »Canaan’s Q4 22 Mining Revenue Increased by 368% But There’s a Catch
Increasing electricity costs and a decline in digital asset prices coupled with high mining difficulty in the fourth quarter slashed mining profit margins and made it difficult for miners to stay afloat. Chinese crypto mining rig maker – Canaan – reported a mining revenue of $10.5 million in the fourth quarter, representing an increase of 16.3% from the previous quarter. It was also up by a staggering 368.2% compared to the same period in 2021. But the bigger picture tells a...
Read More »TeraWulf Kickstarts Bitcoin Mining at Nautilus Cryptomine Facility with 8,000 Rigs
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