Day: March 3, 2023

Riot Platforms Full-Year 2022 Report Shows Company on Track for Aggressive Growth Plans

The Riot 2022 reports showed that the Bitcoin miner tripled its hashrate capacity to an all-time high of 9.7 EH/s.  Bitcoin (BTC) mining company Riot Platforms recently released a full-year 2022 report on its financial and operational performance. For the period ended December 2022, the company raked in revenue of $259.2 million while also tripling its hashrate capacity. Riot explained that its full-year revenue haul resulted from increased BTC production. The company also said its end-of-year proceeds were due to an entire year of hosting and engineering revenues. Last year, Riot produced…

Investment Fund Focused on Crypto Mining to Be Created in Russia – Mining Bitcoin News

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The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set up the first mutual fund for investments in crypto mining enterprises in Russia, the business daily Kommersant reported. It will operate as a venture fund for the purchase of mining hardware through a special entity…

Bitcoin Long Liquidations Hit Highest Level Since August

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U.S. lawmakers argue SEC accounting policy places crypto customers at risk

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Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss. The guidelines came from the United States Securities and Exchange Commission (SEC), which became effective in April last year. The guidelines ask financial companies holding crypto for customers to recognize all digital assets they do not control as a liability. It also states that digital assets should be backed by a safeguarding asset. Crypto companies must show liabilities equal to ALL customer crypto assets, according to…

Binance USD market cap falls below $10B amid rising regulatory concerns

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Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021. Market cap…