Tag Archives: Bitcoin Mining

[unable to retrieve full-text content]CoinspeakerBitdeer Announces Up to $150M in Private Placement Financing During the pre-market trading, the shares of Bitdeer rose more than 10%, priced at $6.44. The movement of shares indicates the impact that the digital asset sector has on the traditional finance industry. Bitdeer Announces Up to $150M in Private Placement Financing

Riot Platforms Inc., a leading crypto mining company, has announced its intention to acquire Bitfarms Ltd., another significant player in the Bitcoin mining industry. Riot has already acquired a 9.25% stake in Bitfarms and plans to make a public takeover offer despite the company’s board’s recent rejection. Global Bitcoin Mining Giant Riot has proposed an acquisition price of $2.30 per share in cash and stock, valuing Bitfarms at approximately $950 million in equity. Riot’s...

Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices. According to a Reuters report, El Salvador mined the cryptocurrencies using a geothermal power plant fueled by the Tecapa volcano in the nation’s east central region. El Salvador Mines 474 BTC With Volcano The energy generated from the Tecapa volcano is relatively small, but it powers 300 mining...

Nearly a month after the fourth Bitcoin halving took place, the first signs of miners’ revenues decreasing are slowly emerging with one clear indicator being the drop in the network hash rate. The recent decline in this metric potentially indicates miner capitulation, where less efficient miners are quitting due to decreased profitability. Hash Ribbons Shows Signs of Capitulation Earlier, the 30-day moving average of the hash rate reached its peak at 630 exahashes per second...

United States President Joe Biden has shut down a Chinese-based cryptocurrency mining firm and banned it from acquiring land close to a Wyoming nuclear missile base. According to Biden, the firm was built just a mile from an Air Force base with nuclear-armed intercontinental ballistic missiles, posing a “national security risk.” MineOne Ordered to Shut Down MineOne Partners Ltd., a crypto-mining facility close to the Francis E. Warren Air Force Base, is partially backed by...

[unable to retrieve full-text content]CoinspeakerBitcoin Hashrate Dips Post-Halving, Here’s Why Bitcoin mining firms have reportedly been turning off unprofitable mining rigs since the fourth Bitcoin halving. Bitcoin Hashrate Dips Post-Halving, Here’s Why

Marathon Digital, a Bitcoin mining company, fell short of revenue expectations set by Wall Street analysts in the first quarter 2024 report. The firm cited adverse weather conditions and equipment malfunctions as contributing factors to the lower-than-expected performance. Marathon Digital Faced Production Setbacks Despite a year-on-year revenue growth of 223% to $165.2 million, as disclosed on May 9, the company’s performance still trailed the projected estimate of $193.9...

The leader in Bitcoin mining has announced its financial performance for the first quarter of 2024, revealing an improvement since its emergence from bankruptcy. The company reported a net income of $210.7 million compared to a net loss of $0.4 million for the same period in 2023. Core Scientific’s Q1 Results Total revenue surged to $179.3 million, an increase from the $120.7 million recorded during the same period last year. Operating income also increased significantly,...

The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how tough and time-consuming it is to produce a new block. The difficulty rises when the number of...

CryptoQuant analysts have found that Bitcoin miners have increased their selling activity in the last month amid slow demand growth for BTC. According to the latest CryptoQuant weekly report, the decrease in BTC demand is evident in low Bitcoin whale demand, fewer purchases from spot exchange-traded funds in the United States, and the Coinbase premium falling below zero. Miners Increase Selling Activity Miners have sent a large amount of BTC to spot exchanges, creating an...