The Urban Mine

Empowering Communities with E-Waste

OKX pulls plug on mining pool amid declining user and hashrate numbers

Crypto exchange OKX will discontinue its mining pool services due to “business adjustments” reasons, according to a Jan. 26 statement. The platform said it had halted new customer registrations, effective immediately. Existing users will retain access to the platform until Feb. 25, after which all mining pool-related services will be discontinued by Feb. 26. “Due […]

Bitcoin developer Luke Dashjr raises concerns over centralization in Bitcoin mining

In an in-depth interview with Bitcoin Magazine on Jan. 24, Bitcoin Core developer Luke Dashjr voiced significant concerns about the increasing centralization of Bitcoin mining. Dashjr believes that the dominance of a few large mining pools poses a serious threat to the decentralized nature of Bitcoin, potentially leading to censorship and control issues within the […]

Core Scientific wins court approval to enact reorganization plan, exit bankruptcy

The Bitcoin mining firm Core Scientific announced on Jan. 16 that it has obtained court approval to proceed with its reorganization plan. Core Scientific noted that this reorganization plan will allow it to emerge from Chapter 11 bankruptcy proceedings in the coming days. Adam Sullivan, Core Scientific’s CEO, said: “Today’s plan confirmation is a defining […]

Hut 8 expands borrowing capacity with Coinbase to $65 million, acquires natural gas power plants

Bitcoin miner Hut 8 has secured an additional $15 million from a subsidiary of the United States-based cryptocurrency exchange, Coinbase, according to a Jan. 12 statement. The miner revealed that the new deal represents an amendment and restatement of its previous $50 million credit facility with the cryptocurrency trading platform, bringing its cumulative credit portfolio […]

Bitcoin developer fails to rally support for ‘bug fix’ to stop Ordinals, inscriptions

In a recent development that has stirred the Bitcoin community, developer Luke Dashjr’s proposal to address the congestion caused by Ordinals and BRC-20 tokens on the Bitcoin network has been met with support and strong opposition. Dashjr failed to rally enough support for a proposed “bug fix” to the Bitcoin code that would essentially put […]

Marathon sets new record after mining 1,853 Bitcoin in December

Marathon Digital achieved a record-breaking production of 1,853 Bitcoin (BTC) in December 2023, marking the highest monthly total ever recorded by a public BTC mining company. The growth represents a significant 290% year-over-year increase and a 56% rise from the previous month. Marathon chairman and CEO Fred Thiel attributed the achievement to the company’s strategic expansion […]

Bitcoin miners increase capacity though Inscription-fueled transaction fee surge cools ahead of halving

Cipher Mining and Stronghold Digital started the new year by announcing significant expansions in their Bitcoin mining capabilities, scaling up operations in response to changing market dynamics. These developments come as Bitcoin miners adapt to an evolving landscape where transaction fees, bolstered by new technologies like Inscriptions, are increasingly vital in revenue generation. Bitcoin transaction […]

Bitcoin’s rise to $45k propels crypto stocks to robust year opening

Major crypto-centric firms are off to a robust start in the new year, marked by significant market trading upticks in their shares amid Bitcoin’s rally above $45,000. According to Yahoo Finance data, leading crypto companies like Coinbase, MicroStrategy, Marathon Digital, Riot Platforms, Hive Digital, Canaan, and Hut 8 witnessed considerable price growth during the early […]

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