Tag Archives: Bitcoin Mining

The crippling impact of May and June’s crash on Bitcoin miners still persists. New data revealed that August recorded the fourth consecutive month that has seen negative miner net flows. Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when miners accumulated BTC this year was April, as per the latest edition of CryptoCompare’s Asset Report. Bitcoin Miners in Distress The price of the...

The Las Vegas-based cryptocurrency miner – Marathon Digital Holdings – steadily improved its bitcoin production levels in August, mining 184 BTC. It also successfully energized 25,000 of its previously installed miners. The process increased the hash rate to nearly 3.2 exahashes per second. Over the next three months, the company expects to activate 65,000 additional miners and thus reach a computing power of 6.9 EH/s. Marathon Makes a Progress One of the biggest crypto...

The White House Office of Science and Technology Policy (OSTP) has released a report examining the connection between distributed ledger technologies (DLT) and climate change.  The office determined that crypto’s relationship with the environment is a mixed bag. While acknowledging the positive impact that mining can have on grid stability and renewable development, it can also exacerbate “environmental justice issues” due to greenhouse gas (GHG) emissions and other...

Lake Parime – a manufacturer of portable data centers utilized for mining digital assets – is opening a new repair and manufacturing facility in the city of Jacksonville, Florida. Lake Parime Is Building a Crypto Mining Repair Facility Mining is very important for the crypto industry. It’s how new units of crypto are extracted from various blockchains and placed in circulation. However, one must remember that like all things, mining equipment can break down or suffer due...

Crypto mining company Core Scientific has announced it is reducing its staff by roughly ten percent and that it’s devaluing the value of its assets as the crypto space continues to suffer at press time. Core Scientific Forced to Lay Off Staff This has been a common theme in the crypto space as of late. Many companies, including big-name exchanges like Gemini in New York and Coinbase have been forced to make serious cutbacks and lay off several staff members so they can...

A Berkeley-based startup known as Vespene Energy announced that it’s going to use the methane gas emitted by landfills to power bitcoin mining rigs, thus adding more units to the blockchain through greener and more eco-friendly means. Vespene Has Big Bitcoin Plans The world of bitcoin and crypto mining has taken a lot of flak in recent years. There are many reports that digital currency mining uses more energy than several countries, while others claim it’s likely to...

The Texas-based cryptocurrency mining firm – Core Scientific – produced 1,334 BTC in August and sold 1,125 BTC of that stash for approximately $25.9 million. In June this year, when the crypto market and bitcoin particularly dipped to record lows in years, Core Scientific parted with over 7,000 BTC for around $167 million. One of the leading crypto mining companies announced that August had been a highly successful month for the firm. In the past four weeks, it increased its...

Despite what appears to be an ongoing hatred for bitcoin and endless attempts to rid itself of the world’s number one digital currency by market cap, China still holds a rather strong position in the crypto market. China Still Hosts a Lot of Mining Just over a year ago, China shocked the world by announcing that it was going to end all bitcoin and crypto mining operations within its borders and it declared the process of extracting units from the blockchain illegal. The...

Arcane Research – a digital asset analysis firm – has published a report examining Bitcoin mining, and its relationship with global energy.  The paper argues that the mining industry can transform worldwide energy production for the better – contrary to its frequent portrayal as a social and environmental harm.  Reinforcing the Grid and Renewable Technologies The report, published on Wednesday, provides four ways in which mining can improve energy systems in a desirable and...

Bitcoin’s hash rate is recovering fast – and it has the mining difficulty to prove it. The network’s latest difficulty adjustment rose the mathematical bar for mining a block by 9.26% – the largest increase since January. That’s the third adjustment in a row during which network difficulty has risen, despite a bear market that inflicted serious pain on the mining industry.  Bitcoin Remains Secure According to data from BTC.com, Bitcoin’s difficulty recovered to 30.98 trillion...