Tag Archives: Bitcoin Mining

Crypto mining firm Genesis Digital Assets – backed by Sam Bankman-Fried’s fallen hedge fund, is reportedly mulling over an initial public offering (IPO) in the US as the crypto sector gains steam. According to Bloomberg sources, Genesis Digital Assets is currently consulting advisers on a possible listing. The mining company intends to initiate a pre-IPO funding round, which is expected to begin in the coming weeks, as per an anonymous source. Genesis Digital Assets Considers...

CleanSpark, one of the biggest Bitcoin miners in the US, has acquired GRIID Infrastructure, another Bitcoin miner, through a $155 million transaction. The merger comes as CleanSpark expands its foothold over the Bitcoin mining space by acquiring data centers and other miners. This way, the firm gets to channel more power to increase the number of bitcoins it mines and drive up profits by providing processing power to meet the computational requirements of AI companies. It recently acquired...

Bitcoin miners have been one of the key players causing market declines as they engaged in intense selling after the latest halving event which slashed the mining rewards from 6.25 to 3.125 BTC earlier this year. However, the latest data suggest that the selling pressure from these entities has significantly decreased. Such a trend could potentially bolster the asset’s price and trigger a market-wide surge. Weakening Miner Sell Pressure The recent bearish market conditions...

CleanSpark (CLSK) – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal. The $155 million deal immediately brings 20 megawatts (MW) of additional power to CleanSpark to bolster its mining operations. Another 400 MW of power is expected to be added in Tennessee over the next two years. CleanSpark Acquired GRIID For $155 Million The merger agreement...

Hut 8 has secured $150 million from Coatue Management, causing its stock price to rise by at least 4%. Other Bitcoin miners who provide AI-related services also saw their stock values increase because of the news. Soluna Holdings (SLNH) jumped 17%, and Applied Digital (APLD) rose 10%. The investment depicts Bitcoin miners expanding their computational capabilities to AI firms. Miners are trying to increase revenues, which have taken a hit across the board because of the Bitcoin halving. Hut...

There has been increased speculation over a Bitcoin miner capitulation as hash rate increases slow down, operational costs increase, and the asset price continues to fall. Analyst James Check assessed miner-side sell pressure to determine the severity of the miner selloff in a video on June 21. Miners selling after a halving event and the slashing of their block subsidy is quite normal, he said. I’ve seen a few folks speculating as to whether #Bitcoin miners are capitulating...

Leading digital asset technology firm Marathon Digital has found a way of utilizing the heat from its Bitcoin mining activities. Marathon’s latest announcement revealed that it has launched a pilot project to warm a Finland community of roughly 11,000 residents with recycled heat from its Bitcoin mining operations. Marathon Uses Mining to Warm Districts The Finland district heating project is Marathon’s first, marking its debut in Europe. District heating entails heating...

- Ad - Bitcoin whales and miners have liquidated $1.2 billion of collective holdings, indicating increased profit-taking. It has been so ever since the largest cryptocurrency by value crossed the $70,000 mark at the end of May. They are most likely selling their reserves to brokers rather than on exchanges. CryptoQuant’s data suggests exactly that, as it reveals Bitcoin UTXO age band sizes decreasing – a phenomenon associated with increased BTC selling – without funds moving to exchanges....

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Deutsche Telekom, T-Mobile’s parent company, will jump into the Bitcoin mining space shortly to expand its revenue generation avenues. The telecommunications company has been active in the Web3 space for a while, already running a Bitcoin node, multiple nodes on the Lightning Network, a Bitcoin scalability solution, and validating on other networks. Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, said at BTC Prague, “Since 2023, we are running a Bitcoin node, and we...