Tag: Mining

Mining BTC Was More Profitable in February Than January: Jefferies

Bitcoin (BTC) mining was more profitable in February than in January as the price of the world’s largest cryptocurrency rose 15% while the network hashrate increased at a slower rate of 9%, investment bank Jefferies said in a research report on Monday. Publicly listed North American mining companies produced a smaller share of bitcoin compared with the previous month, slipping to 17.5% of the total network from 19%, as new hashrate came online from other sources, the report said. Hashrate refers to the total combined computational power that is being…

Bitcoin miner Bitdeer in talks to raise $100m to boost mining capacity

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Jihan Wu-founded crypto mining firm Bitdeer is reportedly seeking $100 million to ramp up its mining capacity. Bitdeer Technologies Holding, a Bitcoin mining firm founded by Jihan Wu, is reportedly in pursuit of $100 million in funding to bolster its mining capabilities, Bloomberg has learned, citing sources close to the matter. According to the report, the Singapore-based company aims to utilize the funds to expand its mining capacity, especially in anticipation of the fourth halving expected in April, which will reduce mining rewards. The valuation of the company following the…

Marathon Introduces Custom Firmware and Control Board for Enhanced Bitcoin Mining Operations

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This week, the publicly traded mining company Marathon Digital Holdings unveiled new firmware and a control board designed to enhance the efficiency of bitcoin mining rigs. Marathon revealed it has been developing this technology for about a year. Marathon Releases Custom Firmware and MARA UCB 2100 Control Board On March 25, 2024, Marathon (Nasdaq: MARA) […] Original

How Bitcoin Mining Has Changed Since the Last Halving

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Since the last halving, the exodus of China miners drastically changed the mining landscape. Miners have sought refuge in jurisdictions offering hospitality or opportunities for energy arbitrage, which became a pivotal metric for success. Several nation states, such as Bhutan, El Salvador, and even Venezuela for a short period, not only embraced miners but also devised strategies to set up mining operations themselves. Not all places that opened their arms to miners ended up being great locations, including Quebec, Canada and Kazakhstan. Original

Bitcoin mining firms ship equipment abroad ahead of halving

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In anticipation of the forthcoming Bitcoin (BTC) halving event, thousands of outdated Bitcoin mining machines in the U.S. are being prepared for shipment to destinations abroad.  According to Bloomberg, SunnySide Digital — a wholesaler in the crypto mining industry — is sending approximately 6,000 older Bitcoin mining machines to a warehouse it operates in Colorado Springs. The company plans to refurbish and resell these machines to buyers overseas, especially in regions with cheaper energy costs. SunnySide Digital CEO Taras Kulyk said the decision is a natural response to the halving…

Report: Bitcoin’s Mining Landscape Braces for Shift as Halving Could Slash 100 EH/s of Hashpower

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Based on a recent analysis, numerous outdated bitcoin mining devices likely powered up in response to the latest uptick in bitcoin’s value. However, with the anticipated block reward halving, it’s projected that around 100 exahash per second (EH/s) of computing power might be disconnected after the event. Bitcoin Miners Enjoy Revenue Boost, Yet Face Potential […] Original

LAPD Recovers $6.9 Million Worth of Stolen Bitcoin Mining Rigs, Suspects in Custody

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The Los Angeles Police Department (LAPD) has apprehended three individuals following the theft of bitcoin mining equipment valued at $6.9 million. The Commercial Crimes Division’s Cargo Theft Unit announced the retrieval of all stolen items. California Authorities Arrest Trio for Stealing Bitcoin Mining Hardware On March 19, 2024, the LAPD, along with detectives from the […] Original

Greenpeace’s Anti-Bitcoin “Mining for Power” Report Receives Fierce Backlash on X

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“Mining for Power,” an anti-Bitcoin report by Greenpeace USA that explains the links between the bitcoin mining industry and fossil fuel companies, has faced a backlash in social media due to its inaccurate portraits of the mining activity. Using community notes, social network users detailed the report contained “many factual errors,” including outdated information. Greenpeace […] Original