Tag Archives: Bitcoin Mining

Canaan Inc – one of the largest bitcoin mining companies in the world – is now the subject of a class-action lawsuit brought forth by several investors through a Manhattan court. A federal judge has ruled that a Hong Kong couple should lead the securities-fraud suit against the firm even though the filing was delivered late. Canaan Is at the Center of a Heavy Suit The decision was made by U.S. District Judge John Cronan, who believes that Bill Lu and Liyang Huang are the...

Several Chinese crypto miners are getting kicked out again, though this time, it’s not Beijing that’s giving the order. It’s regions like Kazakhstan, which have seen a huge influx of miners from China following the nation’s decision that crypto mining is no longer an acceptable business within its borders. Kazakhstan Doesn’t Have the Energy for All This Regions such as Kazakhstan, Florida, and Texas were quick to offer homes to the many crypto miners that were forced to...

TeraWulf – an American bitcoin mining company – raised around $200 million in debt and equity financing from a group of individual and institutional investors. As a result, the firm expects to achieve a mining capacity of 6 exahash per second or 200 megawatts by the second part of 2022. Furthermore, TeraWulf eyes public listing on Nasdaq through a business merger with the tech company IKONICS Corporation. TeraWulf Aims High As part of the $200 million financing, TeraWulf...

One of the leading cryptocurrency mining companies in the US – Riot Blockchain – acquired the electrical equipment provider – Ferrie Franzmann Industries (known as ESS Metron) for $50 million. As a result, the latter will provide a steady infrastructure supply for Riot’s new mining machines. Riot’s Expansion The news was announced in a recent press release by the US Securities and Exchange Commission (SEC). The total amount of the transaction equals $50 million as the bitcoin...

Griid Infrastructure – an American bitcoin mining company known – and the blank check firm – Adit EdTech Acquisition Corp. (ADEX) – announced their merger. As a result, the latter will acquire Griid Holdco LLC – a newly formed holding organization and parent of Griid. Upon finalizing the transaction, the combined entity is expected to be listed on the New York Stock Exchange (NYSE). NYSE Might Have a New Participant According to a November 30 press release, the entity will go...

Nayib Bukele – the president of El Salvador – has announced to the people of his country that the government is taking its bitcoin agenda to the next level. Regulators and city planners are looking to build a whole new village at the base of a volcano. The region will be known as “Bitcoin City” given that it will be entirely dependent on bitcoin and blockchain technology to thrive. El Salvador Is Pushing BTC Even Further He stated that a bond offering is going to occur...

Singapore-stationed crypto mining firm Bitdeer Technologies Holding Co. is merging with a company known as Blue Safari Group Acquisition Corp. The former enterprise is controlled by Jihan Wu – a Chinese billionaire who is responsible for bringing Bitmain to life – and will begin trading on the Nasdaq once the $4 billion acquisition is complete. Bitdeer Has Some Big Plans As one of the most influential people in the digital currency space, Wu worked as the head equipment...

Over the past few months, crypto has really taken precedence with traders and American politicians. For example, New York City’s mayor-elect Eric Adams wants to be paid in BTC. He also wants to see crypto taught in schools. Miami’s mayor Francis Suarez also wouldn’t mind bitcoin-based pay. Crypto Isn’t Loved By Everyone The point is that crypto is witnessing heavy growth in its popularity. Unfortunately, many environmentalists still don’t see the space as worthwhile....

Many countries – including Israel and Laos – are ramping up their crypto regulatory processes as a means of protecting investors and keeping malicious actors out of the equation. Israel and Laos Are Pushing for Safer Crypto Environments Israel, for example, has initiated strict anti-money laundering laws that could see much more disciplined reporting and a lot of criminals going out of business. A published document claims that the country’s Authority for Combating...

The Darlington Township Board of Supervisors in Pennsylvania has a hard decision to make. A company known as Geopetro, LLC – based in Worthington, Ohio – is looking to establish a new crypto data mining center in Beaver County that will be powered by natural gas. Geopetro Is Moving Forward On Its Crypto Mining Project The arguments surrounding bitcoin and crypto mining have grown exponentially over the past year. While some say the process is not as damaging as many...