Tag Archives: Bitcoin Mining

The lower house of Kazakhstan’s parliament – Mazhilis – reportedly greenlighted new bills that aim to establish appropriate rules in the local crypto sector. They will require miners to create authorized entities, register with the regulators, and continue being subject to taxation. Solving the Problem With ‘Gray Miners’ Despite being a global leader in cryptocurrency mining, Kazakhstan has certain issues with the so-called “gray miners” who conduct their operations without...

Grayscale – the world’s largest cryptocurrency asset manager – has announced a new investment product providing exposure to Bitcoin mining hardware. The fund will raise money for buying Bitcoin ASIC machines, which will be operated by Foundry Digital to mine and sell Bitcoin on behalf of investors.  Grayscale’s Strategic Mining Play According to Grayscale’s website, Grayscale Digital Infrastructure Opportunities LLC (GDIO) is aimed at creating an income stream that...

Trygve Slagsvold Vedum – the Finance Minister of Norway – urged the government to scrap its crypto program that allows domestic bitcoin miners to pay a reduced rate on electricity. In his view, the current market conditions and the ongoing energy crisis in Europe are key reasons for this amendment. BTC Miners Should not Be Treated Differently In 2016, the Norwegian government introduced certain energy benefits for data centers, including cryptocurrency miners, by enabling...

The US-based bitcoin miner – Marathon Digital Holdings Inc. – reportedly has exposure of more than $80 million in one of its hosting providers – Compute North. Two weeks ago, the latter joined the list of troubled entities affected by the ongoing crypto winter, filing for a Chapter 11 bankruptcy. Multi-Million Exposure According to a coverage by Bloomberg, the cryptocurrency miner had invested $10 million in convertible preferred stock of Compute North. It had allocated an...

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Crypto mining firm Clean Spark is purchasing a whole new bitcoin mining facility in the city of Mawson, Georgia. The business – which is being sold for approximately $33 million – will help Clean Spark by increasing its hash rate to about 1.3 exahashes per second. Clean Spark Is Building Its Empire The topic of crypto mining continues to be a controversial one. Without mining, there would be no crypto. We all know that by now. For the most part, unless something like...

Bitcoin miners are now holding fewer than 2 million BTC on reserve, according to data from IntoTheBlock.  That’s the lowest amount of Bitcoin held by all tracked pools and miners since 2010, following a steady decline over the past decade.  Dwindling Miner Reserves IntoTheBlock’s data tracks the Bitcoin belonging to the on-chain addresses of various major miners and mining pools – including Poolin, F2Pool, Binance, Bitfury, and others.  In aggregate, total reserves numbered...

The Texas-based bitcoin mining giant is entering a merger agreement with SilverSun Technologies, a publicly-traded business technology solutions provider, as Rhodium is planning to list on Nasdaq after an initial delay. Meanwhile, the fall in the price of BTC and the ongoing crypto winter has caused bitcoin mining companies to struggle to stay afloat. Rhodium Makes Another Shot to go Public In an announcement on Thursday (September 29, 2022), the merger between SilverSun and...

Bitcoin miners continue to operate at a loss as long-term holders are selling at a loss, according to an on-chain analysis from Glassnode.  The firm estimates that industry players are still selling roughly 8000 BTC per month to cover their USD-denominated business costs.  Miners in the Red As tweeted by Glassnode on Wednesday, miner balances have seen large outflows since Bitcoin’s failed re-test of $24,500 in August. The price pumped alongside Ethereum in anticipation of...

Ted Cruz – the republican senator of Texas – is fighting hard for crypto and its advocates. He’s learning more about the space and working to ensure it’s a future hub for innovation in the U.S. Ted Cruz Is an Official BTC Fan Not long ago, Cruz toured the facility of Riot Blockchain – one of the biggest crypto miners in existence – in Texas and discussed his experiences on social media. He stated: I am proud to lead the fight of the crypto industry in the Senate. Texas...