Tag Archives: Bitcoin Mining

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...

Bitcoin miners are selling their coins at a record pace after the top cryptocurrency by market cap fell to its lowest price in 2022 this month.  According to Charles Edwards – founder of Capriole fund – Bitcoin miner sell pressure has skyrocketed by 400% within 3 weeks alone.  His data is backed up by a similar finding from Glassnode, which showed total miner balances plummeting to a 10-month low this week. Their holdings are now worth roughly $30.4 billion, representing...

Canaan Inc. – one of the largest digital currency mining companies in the world – is unveiling its new crypto mining machine known as the Avalon Made A13 series. Canaan Inc. Is Introducing a New Type of Mining Machine The machine is powered by ASIC technologies and will come in two separate forms. The first is Model A 1346, which features a hash rate of more than 110 TH/s. The second, known as Model A 1366, boasts a hash rate that exceeds 130TH/s. Both machines feature...

Arkon Energy – an Australian-based bitcoin mining firm – raised $28 million and acquired Hydrokraft AS (a Norwegian energy-based data center). These will double down on the companyr’s green strategy and aim to increase its mining capacity. Distressed Cycles Could Produce Winners According to a recent document seen by CryptoPotato, the Hydrokraft AS purchase was part of Arkon Energy’s plan to expand its global reach. Both entities use renewable energy to mine bitcoin, ensuring...

Binance – the world’s largest and most powerful digital currency exchange – is pulling back the curtain on a new $500 million crypto mining lending pool so miners and new projects have access to the funds and liquidity they’ll need to extract new units of crypto from the blockchain to be placed in circulation. Binance Is Trying to Help Crypto Miners Known as the “Binance Pool,” those taking part in the project and borrowing funds will have access to loans with terms...

The European Union (EU) is working on a new program that will label the type of energy utilized for bitcoin mining projects. The program is set to determine the level of efficiency behind the module utilized by a specific project. In other words, we’ll know if it is proof of work (PoW), proof of stake (PoS), or something else entirely. Crypto Mining Will Be Labeled in the EU The goal is to ensure that electricity is not wasted and put to the best use possible. This has...

Bitcoin mining firms have had to do a lot to show that they are not just about extracting units from the blockchain to be added to circulation. There is a reason for this: in showing they’re not just about bitcoin mining, they have hopes of staying in business. Bitcoin Mining Companies Need New Ways to Garner Funds One of the big things bitcoin mining companies need to do now is show that they can make it in other arenas. This is because the bitcoin mining space is...

Massachusetts Senator Elizabeth Warren has never been a fan of crypto. In fact, she seems to use all her off time to go after digital assets and those who use them. This time, however, she’s setting her sights on Texas, which she says needs to be investigated for becoming one of the most unregulated crypto havens in America. Elizabeth Warren Has Angry Eyes for Texas In Texas, crypto mining has become a big deal over the past year or so. Following news that Beijing in...

One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the Michael Saylor-founded organization MicroStrategy has more bitcoin possessions. Q3 Was a Transition Period Fred Thiel – Marathon’s Chairman and CEO – said 2022’s Q2 was a...