Tag Archives: Bitcoin Mining

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...

Bitcoin mining giant Riot Blockchain posted a net loss of $36.6 million. The Colorado-based company generated a revenue of $46.3 million – down by 28% from the previously estimated $54.2 million. The rising energy costs have adversely affected many Bitcoin miners. However, Riot’s CEO believes that the company was able to leverage its long-term fixed-rate power contract to generate significant power credits and reduce its operating costs. Revenue Misses Average Estimates The...

Software utilized in bitcoin mining projects is about to get its first major upgrade in roughly ten years, and financial companies – including Block (formerly known as Square) are looking to take advantage. Bitcoin Mining Needs to Undergo Some Changes One of the big issues surrounding bitcoin mining is that it operates on a proof of work (PoW) protocol, which many environmentalists think could lead the planet into a dark corner. Proof of work allegedly requires more...

Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year.  This time it’s Iris Energy – a sustainability-focused miner that recently revealed its monthly profits to be well under its interest payment obligations.  Iris Energy’s Mining Margins The British Columbia-based firm published an update on Tuesday concerning its financing arrangements with NYDIG, an institutional Bitcoin broker that provided Iris with...

Argo Blockchain – a top crypto mining firm in London – has raised more than $27 million. The company garnered the funds after agreeing to sell about 87 million stock shares to a single investor. Argo Blockchain Makes a Lot of Cash The move is interesting, to say the least. During a time when most crypto mining companies aren’t doing so well – with the price of bitcoin falling so drastically, for example, it’s been said that the costs of mining crypto outdo the rewards...

Over the past year or so, the state of Texas has become one of the go-to regions for people looking to either establish new crypto mining projects or continue what they’ve already started. Several months later, it doesn’t look like that trend is ending anytime soon. Texas Is Still a Mining Powerhouse Things began in the summer of 2021 after China announced it was going to end all crypto mining projects and dub them illegal. The news was shocking given the country hosted...

One of the largest bitcoin miners – Core Scientific – could run out of cash by the end of 2022, which could prompt it to file for bankruptcy. The firm’s shares took a major punch following the news. Current market data shows they trade at around $0.28, an approximately 72% decline compared to yesterday’s figures. The market decline, the rise in energy costs, and increased competition are the main factors that have negatively impacted the entity’s performance and liquidity....

It’s happened again, folks. In the age of crypto bankruptcy and companies falling apart amidst the growing bear market, another digital currency firm has entered legal bankruptcy protections as a means of getting creditors and angry customers off its back. This time, the enterprise in question is Compute North, a digital currency mining firm. Compute North Is Having a Hard Time This is the first time that a crypto mining company has entered bankruptcy proceedings, which...