Tag Archives: crypto mining

Bitdeer (NASDAQ: BTDR) has announced a forthcoming auction for used mining equipment on its official website. The auction will feature a total of 2,880 used Antminer S19 units from Bitdeer’s Norway mining datacenter. The starting price for the auction is set at $270,000. The auction will include two types of Antminer S19 models: the Antminer S19-95T and the Antminer S19-90T. Among the total units, 2,132 are Antminer S19–95T, while 748 are Antminer S19–90T. The auction starts on September 24,...

Bitcoin miners made the lowest revenues in August since September 2023 as the network’s mining difficulty peaked at the highest it has ever been on August 31. August marked the worst month in revenues for Bitcoin miners this year and since September 2023. They mined a total of $827.56 million last month following a trend of reducing mining rewards since April’s halving event that reduced block rewards to 3.125 BTC. August’s revenues saw a 10.5% reduction from July when miners netted $927.35...

Bitcoin mining firm Rhodium Enterprises has filed for voluntary bankruptcy under Chapter 11 in the United States Bankruptcy Court for the Southern District of Texas. Detailed in the filing made on August 24, the company’s problem shows that the company has debts between $50 million and $100 million and total assets of between $100 million and $500 million. The bankruptcy filing also includes six subsidiaries: Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW, and Rhodium...

Thailand’s authorities recently raided an illegal Bitcoin mine following several weeks of power outages in a local town. The raid took place on Sunday in Ratchaburi. It is a province located west of Bangkok. They took action after numerous reports of electrical disruptions in the area. Reports by AFP reveal that the early morning raid was conducted by the Provincial Electricity Authorities together with the local police. A chief district security officer named Jamnong Chanwong mentioned that...

Bitcoin miners facing hardships due to reduced mining rewards, finds JP Morgan. JP Morgan expects Riot and Iren stock prices to climb in the coming months. According to a recently published JP Morgan report, Bitcoin miners are struggling to keep up with the post-halving event as reduced rewards and increasing electricity costs eat through their revenues. The Bitcoin halving that occurred on April 20 cut mining rewards by half, reducing them from 6.25 BTC to 3.125 BTC. Miners have no option...

The International Monetary Fund (IMF) recently suggested a significant increase in electricity taxes for cryptocurrency mining, which could lead to a global reduction in carbon emissions. Two IMF executives, Shafik Hebous and Nate Vernon-Lin, proposed raising electricity taxes by up to 85% for crypto miners. They believe this move could help reduce the environmental impact of crypto mining. The proposal involves a tax of $0.047 per kilowatt hour on electricity used by crypto miners. This...

Marathon Digital Holdings, a leading Bitcoin mining company, has announced a $250 million private offering of convertible senior notes. This move has sparked debate within the industry as Marathon aims to strengthen its Bitcoin holdings for the long term. The notes are due to mature in September 2031 and offer investors the option to convert them into cash, Marathon’s stock, or a combination of both. According to their blog post, the offering is being made under the United States Securities...

Bit Deer Technologies Group is opening a new crypto mining facility in the Asian country of Bhutan. Bit Deer Sets Its Sights on Asia Bit Deer is a crypto mining firm based in Singapore. Founded by Chinese billionaire Jihan Wu, the company stated that it has recently finished power testing the facility and it will open its doors for BTC extraction purposes. Linghui Kong – the CEO of Bit Deer – said in a recent statement: Our Gedu data center, nestled in the serene...

Texas has garnered a reputation for being very pro crypto. The state opened its borders to several miners from China about two years ago after their home country announced in the summer of 2021 that crypto mining would no longer be permitted per new rules from Beijing. Texas Citizens Have Mining Concerns With nowhere to turn, many reverted their sights to the Lone Star State, admiring its many open lands and its cheap electricity prices. Not wanting to miss out on...

A China-owned crypto mining facility could be built in the rural town of Vilonia, Arkansas, and the residents aren’t too happy about that. Will Vilonia Be a New Crypto Mining Hub? What’s odd is that the mining facility is controlled and owned by China, a country that not long ago decided crypto mining should be illegal due to the alleged harm it does to the atmosphere. The country announced that due to new “green” rules implemented by Beijing, all crypto mining...