Mining

The arctic blast in the US has already claimed at least 22 lives and temperatures could dip dangerously below freezing levels. Amid the extreme weather conditions, several Bitcoin (BTC) miners have voluntarily curtailed or shut down operations to help the struggling power grid. Foundry dropped its hash rate by over 44% or nearly 30 EH/s […]

Bitcoin miners are again showcasing how they can play an essential role in the energy infrastructure as miners shut down or limit production to support the ecosystem in Texas. Texas is facing a hard freeze warning amid a winter storm originating in the Arctic region, causing the most significant surge in cold air since the […]

Public Bitcoin (BTC) mining companies collectively have liabilities that amass to over $4 billion, according to Hashrate Index. Owing the most in liabilities, Core Scientific debt sat at approximately $1.3 billion on Sept. 30, according to a company statement. Source: Luxor Mining The BTC mining industry has seen significant fluctuations during this bear market — […]

Russia’s cryptocurrency mining bill, which would legalize crypto mining and the sale of mined crypto, could be approved by January, according to a report by local news agency Tass on Dec. 23. The bill was introduced in the State Duma, the lower house of parliament, on Nov. 17, 2022. At the time, Anatoly Aksakov, Chairman […]

The price of Bitcoin (BTC) fell by 64.68% to $16,870 from around $47,766 at the beginning of the year, CryptoSlate data shows. At the same time, share prices of Bitcoin mining companies fell by 91% on average from their 52-week high prices, according to Compass Mining. However, this has not deterred mining firms from increasing […]

CleanSpark’s hash rate hit 6 EH/s on Dec. 21, compared to 2 EH/s on Dec. 31, 2021 — marking a 3x increase on an annual basis. The company hit its year-end goal for the hash rate and said it expects to hit 16 EH/s by the end of 2023. 2022 financial highlights CleanSpark mined a […]

British Columbia, Canada, will deny electricity to new crypto mining firms, according to a press release published by the provincial government on Dec. 21. BC Hydro, a government-owned company, and the province’s only electricity service, will be responsible for denying services to those applicants. Energy minister Josie Osborne criticized the practice of mining, stating: “Cryptocurrency […]

Bitcoin miner Northern Data, based out of Germany,  anticipates revenue of €190-194 million ($201.4 million to $205.64 million) for the year 2022. Information has been made public by Aroosh Thillainathan, CEO of Northern Data, in a shareholders letter on Dec. 21.  At the midpoint range, the expected revenue exceeded the previous year’s €189.9 million ($194.934 […]

The cost of Bitcoin (BTC) is now cheaper than the cost of mining one Bitcoin, according to the Difficulty Regression Model. As per data obtained from Glassnode, the current cost of mining one Bitcoin is $18.8k, whereas the cost of one Bitcoin is $16,5771.8.  The Difficulty Regression Model is considered the ultimate distillation of mining […]

Publicly traded crypto miner Core Scientific filed for Chapter 11 bankruptcy protection on Dec. 21 at the Southern District of Texas bankruptcy court. According to court documents, the miner has liabilities between $1 billion- $10 billion. It has over 1,000 creditors, with the largest unsecured claim owed to B. Riley Financial –the bankrupt firm owes […]