Bitcoin miner maker Canaan records highest quarterly profit since 2019 IPO

Despite the price decline for Bitcoin (BTC) in Q2 2021, mining hardware maker Canaan has recorded significant business gains during the period. According to Canaan’s unaudited Q2 financials published on Tuesday, the company recorded over $1 billion Chinese renminbi (about $167.5 million) in total net revenue for Q2. This figure marks the highest quarterly sales… Continue reading Bitcoin miner maker Canaan records highest quarterly profit since 2019 IPO

Hundreds of Alabama coal miners protest outside BlackRock's NYC headquarters

Bitcoin mining revives coal country for environmentally-friendly repurposing Profits from some Bitcoin investments are helping to revive and repurpose former coal mine locations. FOX Business’ Lauren Simonetti with more. Hundreds of coal miners and union advocates took to the streets of New York City this week in support of workers from Warrior Met Coal mines… Continue reading Hundreds of Alabama coal miners protest outside BlackRock's NYC headquarters

Green BTC miner Bitfarms’ production up 50% after China ban, as Compass goes nuclear

Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration. The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy. In a July 14 production update, the firm… Continue reading Green BTC miner Bitfarms’ production up 50% after China ban, as Compass goes nuclear

China's miner exodus a ‘big net positive for crypto,’ Mike Novogratz says

As major miners are leaving China one after another following the country’s crackdown on Bitcoin (BTC), Galaxy Digital CEO Mike Novogratz has echoed other experts in seeing the migration out of China as a positive development. Novogratz explained on Bloomberg that despite China’s attempt to undermine Bitcoin — like banning mining, banning leverage, and even… Continue reading China's miner exodus a ‘big net positive for crypto,’ Mike Novogratz says

Samarco, a Vale-BHP joint venture, plans to raise $2 billion in restructuring

SAO PAULO (Reuters) – Brazilian miner Samarco Mineracao SA, an iron ore joint venture between Vale SA e BHP Group Ltd, plans to raise $2 billion in fresh capital as part of its plan to exit bankruptcy protection, according to court documents.FILE PHOTO: A view of the Samarco mine, owned by Vale SA and BHP… Continue reading Samarco, a Vale-BHP joint venture, plans to raise $2 billion in restructuring

US miner raises $105M to recycle waste coal into crypto

The Pennsylvania-based Stronghold Digital Mining has announced the completion of two private equity securities raises worth $105 million. According to an announcement shared with Cointelegraph, the firm’s first power generation facility, the Scrubgrass Generation Plant in Venango County, converts waste coal into energy on a scale equivalent to “a large-scale hydropower plant” that is then… Continue reading US miner raises $105M to recycle waste coal into crypto

Bitcoin Miner Bitfarms Adds $45M Worth of Mined BTC to Corporate Treasury

North American Bitcoin mining giant Bitfarms’ BTC adoption is going beyond mining Bitcoin and securing the network to including mined “coins” as part of its corporate treasury. Meanwhile, the company says increasingly harsher restrictions in China are helping the company to earn even more precious Bitcoin. Bitcoin Mined in 2020 Added to Balance Sheet In… Continue reading Bitcoin Miner Bitfarms Adds $45M Worth of Mined BTC to Corporate Treasury

Bitcoin Miner Funds $250 Million Solar Panel Project in USA

700,000 solar panels (pictured) that can power 40,600 single family homes are to be rolled out in Butte, Montana, pending zoning permits. The project is by Madison River Equity LLC which is seeking a special use permit from the Butte-Silver Bow Zoning Board to install a 1,600-acre solar array, the Basin Creek Solar Project, on… Continue reading Bitcoin Miner Funds $250 Million Solar Panel Project in USA

Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital

Blockcap, one of North America’s fastest-growing Bitcoin (BTC) mining companies, has secured sizable investments from some of crypto’s biggest names, setting the stage for significant expansion in the year ahead. Off The Chain Capital and Foundry Digital, a subsidiary of Digital Currency Group, contributed to the $75 million haul, Blockcap announced Wednesday. The funding will… Continue reading Bitcoin miner Blockcap closes $75M investment led by Off The Chain, Foundry Digital

U.S. miner Blockcap plans to have 40,000 ASICs operational by Q4

Blockcap, one of the largest Bitcoin mining firms in North America, has added more than 12,000 additional Bitmain Antminer S19s to its inventory. The firm is now expecting to have deployed more than 40,000 Bitcoin miners by the fourth quarter, and projects an operational hashrate of roughly 3.5 exahashes per second, or EH/s — equal… Continue reading U.S. miner Blockcap plans to have 40,000 ASICs operational by Q4

Hive Bitcoin Miner Raises $15 Million

The publicly traded bitcoin and ethereum miner, HIVE Blockchain Technologies Ltd, has raised $15 million out of an offering of nearly $27 million according to a filing with the Securities and Exchanges Commission (SEC). The miner just recently bought 6,400 asics from Canaan, bringing its total capacity to one petahashes per second out of 150… Continue reading Hive Bitcoin Miner Raises $15 Million

ETH miner revenue reaching a new all-time-high may be bad news for low volume yield farmers

On September 2, the revenue of Ethereum (ETH) miners reached an all-time high of 51,541 ETH. While this may be good for the miners, it could turn popular DeFi projects into a mousetrap. Ethereum miner revenue, percent from fees and total gas used. Source: Glassnode. When denominated in USD, these numbers are still below the… Continue reading ETH miner revenue reaching a new all-time-high may be bad news for low volume yield farmers

Market Predictions, Miner Fees Fluctuate, & China Moves Fast: Bad Crypto News of the Week

An eventful week for Bitcoin this week. It ended down nearly 5 percent but at one point, things were looking much worse. A collapse to $8,900 sparked talk of a three-month correction–which could be exacerbated by the expiration of more than 100,000 Bitcoin options next Friday. So far at least, the correction appears to have… Continue reading Market Predictions, Miner Fees Fluctuate, & China Moves Fast: Bad Crypto News of the Week

Miner Survivability Post-Halving: A Hash Rate Comparison

The market for selling hash rate in exchange for Bitcoin (BTC) has undergone staggering growth in the epoch since the last halving. There is almost 100 times the level of competition today as there was four years ago, up 125 exahashes from 1.4 exahashes. After the last halving in 2016, 16nm chips were first hitting… Continue reading Miner Survivability Post-Halving: A Hash Rate Comparison

Miner Capitulation: Hash Rate is Dropping Faster Than Bitcoin Price

Bitcoin is a unique asset unlike anything else in the financial world. Much of its value is derived from its underlying blockchain protocol, powered by miners through a process called proof-of-work. However, the first-ever cryptocurrency’s hash rate is dropping faster than its price, indicating that the miners powering Bitcoin have begun to shut down their… Continue reading Miner Capitulation: Hash Rate is Dropping Faster Than Bitcoin Price

Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash

A former Bitcoin miner hobbyist has stumbled on an old wallet containing 1,000 Bitcoins, in addition to many Bitcoin forks. On March 10, a thread was posted to Bitcointalk by a self-described “newbie” making their first return to crypto after a “long hiatus,” seeking advice on accessing an old Bitcoin stash. Former GPU hobbyist miner… Continue reading Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash

US a Major Bitcoin Miner Again; How Layer1's Launch is Bullish for BTC

The Texas Bitcoin mining facility by Layer1 has gone live for the first time today. The all-in-house US Bitcoin mining initiative is seeking to address Chinese dominance of the cryptocurrency’s mining activity. Layer1 is hoping to expand rapidly from this initial launch. By the end of 2021, it plans to command as much as 30… Continue reading US a Major Bitcoin Miner Again; How Layer1's Launch is Bullish for BTC

What Miner Capitulation? Bitcoin Miners Confident in Price Prospects

If you have perused Bitcoin and Crypto Twitter at all over the past few weeks, you’ve likely seen the term “miner capitulation” mentioned again and again. You see, over the past few months, the price of BTC has fallen off a proverbial cliff, tanking from $14,000 to $7,000 in a matter of months. As this… Continue reading What Miner Capitulation? Bitcoin Miners Confident in Price Prospects

Bitcoin Miner Hut 8 Reveals $136 Million Losses for 2018, Eyes Market Uptrend

Canadian bitcoin (BTC) mining company Hut 8 made almost $50 million in revenue last year but triggered total losses of almost $140 million, according to an annual earnings report released on May 6. Hut 8, which counts itself as one of the world’s largest publicly-traded cryptocurrency mining companies, saw 2018 revenue hit $49.4 million. The… Continue reading Bitcoin Miner Hut 8 Reveals $136 Million Losses for 2018, Eyes Market Uptrend

Beware of BCH troll miner posing as ‘Satoshi Nakamoto’

A mysterious entity has suddenly begun mining significant volumes of Bitcoin Cash (BCHABC), leading to a wave of suspicion through the network. Going by the name of Satoshi Nakamoto, after the pseudonym used by Bitcoin’s creator, the miner has grown to control close to 40% of the overall hash rate of BCHABC, according to Coin.Dance… Continue reading Beware of BCH troll miner posing as ‘Satoshi Nakamoto’

The Process of Bitcoin Mining

Bitcoin Mining is the process of creating and writing new blocks for the blockchain. These blocks have to comply with the base Bitcoin rules, maintained by the network. In order to mine, you would need specialized mining software and hardware, which you can learn about on the previous page of this guide. Here we will… Continue reading The Process of Bitcoin Mining

Report: Crypto Miner Hut 8 Lays Off More Staff

Canadian Bitcoin (BTC) mining firm Hut 8 has reportedly laid off employees at its facilities in the province of Alberta, the Canadian Broadcasting Corporation (CBC) reports April 4. Hut 8’s crypto mining facilities in Drumheller and Medicine Hat are part of a joint venture with European crypto mining hardware firm Bitfury. A former employee at… Continue reading Report: Crypto Miner Hut 8 Lays Off More Staff

ETH GPU Mining Not Profitable, Miner Heats 6,000 SQFT Home

In recent mining news, Susquehanna International Group has reported that it is no longer profitable to mine ether with a GPU. In other news, a Canadian miner has taken to Twitter to share photos of a system that recycles the heat generated by his six ASIC miners, while Jihan Wu has accused Craig Wright of… Continue reading ETH GPU Mining Not Profitable, Miner Heats 6,000 SQFT Home