Hut 8 Corp. has launched American Bitcoin Corp, a majority-owned subsidiary designed to focus on industrial-scale Bitcoin mining and reserve development. This move follows the crypto mining company’s strategic decision to contribute nearly all of its ASIC miners to American Data Centers, Inc. in return for a majority stake in the company. The company, initially...Read More
Broader economic concerns, including recession fears and stubborn inflation, have rattled the crypto market, leading to a sharp downturn. Bitcoin has struggled under these conditions, which, in turn, has forced miners to sell more BTC to sustain operations. As a result, increased selling pressure from miners has compounded market instability. Miners Offload BTC to Cover...Read More
Popular Bitcoin mining and digital infrastructure company Riot Platforms announced record-breaking financial results for the year 2024, as a result of a significant increase in mining revenue and strategic acquisitions. The company, listed on Nasdaq, reported $376.7 million in total revenue in 2024, which was up over 34% from 2023’s $280 million, despite challenges in...Read More
A sudden dip in Bitcoin’s hash rate has sparked discussions within the crypto community. Though fluctuations are not uncommon, the scale of this decline draws comparisons to past major disruptions. What does this mean for miners and network stability in the near term? Mining Slowdown? The Bitcoin network’s hash rate has experienced a significant short-term...Read More
Rosseti Group, Russia’s power grid company, reported losses exceeding 1.3 billion rubles – which is worth around $14.2 million – in 2024 due to unauthorized cryptocurrency mining operations, also known as “black” mining firms. As per a report by state-owned news agency TASS, damages were widespread across the company’s electrical networks. Illegal Mining Strains Russia’s...Read More
The U.S. Bitcoin mining industry has generated over 31,000 jobs and contributed more than $4.1 billion in gross product annually. According to a report by The Perryman Group, most of the industry is concentrated in twelve states, with Texas being the largest contributor. Economic and Social Benefits The study shows that Bitcoin mining in Texas generates...Read More
Malaysia was rocked by an unexpected discovery on Tuesday when an explosion and billowing smoke from a house along Lorong Cekara Purnama, Bandar Puncak Alam, led authorities to uncover an illegal bitcoin mining operation. The latest development comes as the Southeast Asian country continues to battle unauthorized crypto mining, which has caused significant financial losses...Read More
Bitcoin mining hardware is facing increased scrutiny from US officials. Recent seizures at entry points hint at a broader enforcement push that could impact major manufacturers and miners alike. At the request of the Federal Communications Commission (FCC), US Customs and Border Protection (CBP) has been seizing bitcoin mining ASICs at ports of entry across...Read More
As bitcoin (BTC) continues to trade a few thousand dollars below $100,000, miners are struggling to run their operations, and as a result, most of them are capitulating. A report by CryptoQuant analyst Darkfost revealed that the Hash Ribbons metric, an indicator that tells the health of the Bitcoin network by tracking hash rate fluctuations,...Read More
A Bitcoin miner has successfully mined Block 883,181, securing a reward of approximately $310,000. The miner, who operated independently without the backing of a major mining company, solved the cryptographic puzzle required to validate transactions and add a new block to the Bitcoin blockchain. The Mining Method Crypto journalist Pete Rizzo first reported the rare...Read More
It is becoming increasingly difficult to mine blocks on the Bitcoin network. In other words, the security of the leading crypto network is rising by the day, and this is evident in the Bitcoin hash rate hitting a new high. According to data from Blockchain.com, the metric reached an all-time high of 845 million on...Read More
Coinbase stands as the largest publicly traded blockchain company, with a market cap of $71.2 billion as of February 8, 2025. This figure places it far ahead of its closest competitor, Galaxy Digital, which holds a market cap of just $6.7 billion – making Coinbase more than ten times larger. Furthermore, the exchange’s valuation has...Read More
Bitdeer has made a step toward becoming a fully integrated Bitcoin mining company with a recent $21 million land acquisition in Canada. The company revealed on Tuesday that it has obtained a fully licensed power project on a 19-acre site near Fox Creek, Alberta, from Kiwetinohk Energy. Costs and Deadline Expectations According to a press...Read More
HIVE Digital has finalized the acquisition of Bitfarms’ partially completed 200-megawatt Bitcoin mining facility in Yguazú, Paraguay, for $56 million. The deal includes an upfront payment of $25 million due at closing in the first quarter of 2025, with the remaining $31 million to be paid in six equal monthly installments. The $56 Million Purchase...Read More
On Jan. 30, the firm announced the Grayscale Bitcoin Miners ETF with the ticker MNRS. The product is a passively managed ETF tracking the mining industry and the Indxx Bitcoin Miners Index. “MNRS provides exposure to Bitcoin Miners and the global Bitcoin mining industry at a time when we’re seeing unprecedented interest and growth in...Read More
Rosseti Group – Russia’s leading electric grid operator – has announced its interest in becoming an operator for hosting mining infrastructure. The company told TASS that this initiative focuses on utilizing underloaded power supply centers, improving capacity utilization, and fostering economic growth. Rosseti Targets Crypto Mining to Use Idle Power According to the report, Rosseti’s...Read More
Despite the current state of the crypto market, Bitcoin miners are having an even more difficult time producing blocks and running their operations. Bitcoin mining difficulty hit an all-time high, but an even more notable occurrence is that this uptick is the eighth consecutive one, which could mean several things for the budding crypto network....Read More
Bitcoin ASIC manufacturer Canaan announced the launch of its latest products, the Avalon Mini 3 and Nano 3S, at CES 2025 in Las Vegas. These Bitcoin mining devices aim to simplify cryptocurrency mining for individuals while incorporating unique dual-purpose functionality. According to the official press release, the Avalon Mini 3 combines high-performance Bitcoin mining with...Read More
The year 2024 saw the Bitcoin mining industry record significant developments and historic milestones. According to a report by the Bitcoin mining entities NiceHash and Digital Mining, 2024 was a record-breaking year for the promising industry. NiceHash and Digital Mining revealed that in 2024, the mining industry witnessed high block space demand, increased hashrate, and...Read More
Nevada-based Bitcoin mining firm – CleanSpark – has reached a significant milestone by surpassing 10,000 BTC in its treasury. All the Bitcoins were mined exclusively from its US-based operations. The latest figure reflects a 236% year-over-year (YoY) increase in its Bitcoin holdings. CleanSpark Hits Milestone Zach Bradford, CEO and President of the firm attributed the...Read More
As 2025 begins, the possibility of bitcoin (BTC) experiencing a significant correction in this first quarter is high. However, declining sell-side liquidity suggests the cryptocurrency could also see further gains in the medium term. In the latest edition of the Bitfinex Alpha report, analysts revealed that much of the downside pressure predicted for Q1 2025...Read More
The world’s second-largest corporate holder of Bitcoin, MARA, also known as Marathon Digital Holdings, has lent out around 16% of its treasury. In a production and mining operation update released on Jan. 3, the firm revealed that 7,377 BTC, worth around $730 million at current prices, has been “temporarily loaned to third parties.” Its total...Read More
Cloud mining bitcoin platform, BitFuFu has entered into a two-year agreement with Bitmain, to acquire up to 80,000 S-series mining rigs. The deal includes Bitmain’s latest S21 XP and S21 Pro models, which marks a major expansion for BitFuFu’s operations. According to the original press release, the agreement allows BitFuFu to purchase miners in stages,...Read More
The mining difficulty of Bitcoin hit a new peak of 109.78 trillion, climbing 1.16% in Sunday’s latest adjustment. This represents a 24% increase over the past 90 days and a 52% rise during the last three months of the year. Meanwhile, Bitcoin’s hash rate also crossed the 800 EH/s threshold this month for the first...Read More
Foundry USA Pool – the largest Bitcoin mining pool by hash rate – recently took action to return an 8.18 BTC transaction fee, which is roughly worth $777,000, that had been accidentally overpaid. The error occurred on December 19 during the mining of block 875475, which included a transaction with a fee 91,127 times higher...Read More
The cryptocurrency market has been on a rollercoaster, especially in the last couple of months, with Bitcoin rallying 128% year-on-year as of Christmas Day. However, despite the bullish trends, the impressive performance hasn’t translated into gains for publicly listed Bitcoin mining companies, with many of their stocks showing significant declines. Mining Stocks Falter Despite Market...Read More
Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining...Read More
Bitcoin’s price experienced one of its most significant surges in the past several years since November 6, gaining over $30,000 and exploding beyond $100,000 for the first time ever. As such, some market participants decided to cash in on profits. After reports that long-term holders had disposed of portions of their bags, it’s now the...Read More
Prominent Bitcoin mining pool Foundry Digital reportedly slashed 27% of its workforce this week. The layoffs, which affected 74 employees, reflect a strategic shift to prioritize core operations, including its Bitcoin mining pool and site operations. This decision follows an internal restructuring within the Digital Currency Group (DCG), Foundry’s parent company. CEO Mike Coyler stated...Read More
Mining firm MARA Holdings, formerly Marathon Digital, announced plans to offer $700 million in 0.00% convertible senior notes due 2030 to qualified institutional buyers. The company may allow initial buyers to purchase an extra $105 million in notes within 13 days of issuance. $700M Convertible Notes Offering MARA plans to use up to $50 million...Read More
