Tag - Mining
16Dec

El Salvador and Bhutan: Betting on Bitcoin’s future | Opinion

Two small nations, El Salvador and Bhutan, have made bold moves into the Bitcoin btc1.85%Bitcoin arena, which showcase how cryptocurrency can redefine economic strategies for countries with ambitious leadership and limited resources. Bhutan, through its sovereign investment arm, has amassed Bitcoin holdings worth over $1 billion—more than one-third of its GDP—while El Salvador’s reserves stand at approximately 6,150 Bitcoin, valued at over $550...

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05Dec

Hut 8 to build Bitcoin treasury with $500m raise

Bitcoin miner Hut 8 launched an at-the-market and stock repurchase program to finance its corporate strategic BTC reserve. Hut 8’s ATM initiative aims to raise $500 million for its Bitcoin btc7.74%Bitcoin treasury and $250 million to fund stock buybacks, per a Dec. 4 press statement. The firm’s CEO, Asher Genoot, stated that Hut 8’s decision will allow the miner to...

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05Dec

Argo Blockchain posts $3.4m mining revenue despite dip in Bitcoin output

Argo mined 39 BTC in November, generating $3.4 million in revenue despite a production drop from October. Bitcoin btc7.74%Bitcoin mining firm Argo Blockchain has released its November production update, showcasing an increase in revenue despite a decline in Bitcoin mining. In a Dec. 4 press release, the firm revealed it had mined 39 BTC in November, a decrease from the 46...

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04Dec

MARA acquiring Texas wind farm for better Bitcoin mining operations

MARA Holdings, formerly Marathon Digital, has announced plans to acquire a wind farm in Hansford County, Texas, to power its sustainable Bitcoin mining data center. The wind farm, with 240 megawatts of interconnection capacity and 114 MW of operational wind generation, will allow MARA to create a vertically integrated operation with zero-marginal energy costs, according to a company...

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15Jul

Iris Energy shares plunge 14% on AI computing support doubts

Shares of Australian Bitcoin miner Iris Energy dropped 14% on Friday after Culper Research questioned the firm’s ability to serve the high-performance computers for AI. Iris Energy (IREN), the Australian Bitcoin mining company, saw its shares plunge 14% on Jul. 12 after short seller Culper Research issued a report, raising concerns over Iris’ capabilities to provide high-performance computing (HPC)...

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15Jul

Bitcoin miner Northern Data forecasts revenue to triple in 2024

Crypto mining giant Northern Data is forecasting its revenue to triple in 2024 as the company doubles down on high-performance computing (HPC) solutions. Northern Data Group, a German-listed Bitcoin mining company, estimates its sales to soar this year up to €240 million, tripling its 2023’s results as the company is betting big on high-performance computing (HPC) solutions for...

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15Jul

Bitcoin mining causing health issues in Texas residents

Texas is rapidly becoming a Bitcoin mining hub, butresidents of local towns are experiencing hearing issues, headaches, dizziness, and sleep disturbance. The conflict between the economic interests of Bitcoin (BTC) mining in Texas and the quality of life of its residents is escalating, underscoring the need for comprehensive policy solutions. Texas is home to 10 out of the 34 major Bitcoin...

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02Jul

Russia’s sanctioned business union mulls establishing national Bitcoin fund

Russia’s sanctioned business association considers a national Bitcoin fund to enhance the use of digital financial assets in foreign trade. The Russian Union of Industrialists and Entrepreneurs (RSPP), a sanctioned Russian union representing the country’s wealthiest business figures, is considering launching a national crypto fund to use crypto in foreign trades as Russian business explores options...

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11May

Bitcoin mining difficulty drops by 6%, lowest since December 2022

Bitcoin mining difficulty has dropped to its lowest level since December 2022. According to BTC.com, on May 9, the difficulty of mining Bitcoin (BTC) fell by 5.63% to 83.15 T. The same value was during the 2022 bear market phase due to a series of bankruptcies, including the collapse of Terra and FTX. Source: BTC.com Since the previous change in value,...

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20Apr

India’s ED probe Bollywood star in $800m crypto ponzi scheme

India’s ED is investigating Raj Kundra in a $800m cryptocurrency Ponzi scheme, seizing assets and linking him to a failed Bitcoin mining project. The Enforcement Directorate (ED) is probing Raj Kundra, a prominent businessman and husband of Bollywood actress Shilpa Shetty, concerning a money laundering case linked to a cryptocurrency Ponzi scheme dubbed ‘Gain Bitcoin.’ Notably, Kundra is not the...

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