Tag: Mining

Bitcoin mining firm CleanSpark to launch in-house crypto trading

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CleanSpark, the third-largest public Bitcoin mining firm in the U.S., is set to establish its own trading desk in 2024, aiming to optimize the profitability of its substantial Bitcoin assets. In an interview with Bloomberg, Zachary Bradford, the CEO of CleanSpark, expressed the strategic decision to manage their Bitcoin transactions internally. Given their considerable Bitcoin holdings, he emphasized the financial prudence of this approach. This initiative aligns with the recent practices adopted by other Bitcoin mining companies. For instance, Marathon Digital Holdings has sold Bitcoin call options to generate revenue,…

Bitcoin up 7%, this BTC mining token also posts gains

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin has opened 2024 strongly, adding 7% in the last 24 hours. When writing, it is trading at $45.3K, the highest price in 21 months. Meanwhile, the newly launched presale token Bitcoin Minetrix is also surging after raising $7.2 million. Bitcoin surges amid growing spot ETF approval optimism Mike Novogratz, CEO of Bitcoin spot ETF applicant Galaxy, just released a cryptic tweet. The tweet has been seen 110K times…

Kyrgyzstan witnesses major boost in tax revenue from crypto mining

Kyrgyzstan, a country possessing a wealth of untapped hydroelectric resources, has witnessed a sharp rise in tax revenues from crypto-mining activities in 2023. Reports from the Finance Ministry, as covered by the local press on Jan. 1, reveal that the Kyrgyzstan government amassed 78.6 million soms (approximately $883,000) in taxes from cryptocurrency miners during the first 11 months of 2023. The latest tax figure marks a substantial rise compared to the 11.1 million soms ($133,200) collected in the same period last year. 2023 witnessed a volatile trajectory in the tax…

Hive Digital Secures $22M in Funding for Bitcoin Mining Operations

On December 28, the company announced that its fleet of 3,750 Bitcoin ASIC miners, purchased last year, had already generated profits due to the surge in the coin’s price. Canadian Bitcoin mining company Hive Digital has recently concluded a successful $22 million private financing round. The company achieved this milestone through the sale of 5.75 million special warrants at a price of $3.87 each, resulting in total proceeds of $22 million. This financing round will enable the company  to support the growth of its Bitcoin mining operations, as well as…

BNB, Polygon among top gainers, new mining token also rallying

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. BNB and Polygon are firm, while most other projects are in red. BNB is up 8.98%, while Polygon is up 20.86% in the last 24 hours. Meanwhile, the new mining crypto Bitcoin Minetrix (BTCMTX) is also seeing notable gains as its presale surges past $6.2 million. After consolidating, BNB, and Polygon have started to gather momentum, while recent top performers like Solana and Avalanche are cooling down. BNB and…

Marathon Digital acquires Bitcoin mining sites in $179m deal

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Marathon Digital secures a cash deal with Generate Capital and a PBC subsidiary to acquire two operational Bitcoin mining farms, expanding its capacity to around 390 megawatts. As stated in the Dec. 19 release, the transaction marks Marathon’s shift from an asset-light organization to managing a diversified Bitcoin mining portfolio, acquiring its first fully owned sites. Currently holding 584 megawatts, with 3% owned and 97% hosted by third parties, the acquisition will bring the total capacity to approximately 910 megawatts.  Following the deal, 45% will be on Marathon-owned sites, expanding opportunities…

BTC Miner Marathon Digital (MARA) to Acquire New Mining Sites for $179M

The acquisition, which will add 390 megawatts of capacity, will be paid in cash from Marathon’s balance sheet, the company announced on Tuesday. Across the two sites, around 21% is vacant and available for expansion, 63% is occupied by bitcoin mining tenants and 16% is already occupied by Marathon. Marathon said it expects the acquisitions to reduce the cost per coin mined by around 30%. Source

Bitcoin recovers, BTC mining token posts gains

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Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company. After a minor pullback, Bitcoin recovered yesterday, climbing 4.22% and trading at $43K. Its 24-hour trading volume also shot up by 36%, currently at $25 billion. Meanwhile, Bitcoin Minetrix is rallying after its presale rose above $5.5 million. BlackRock ETF approval odds increase Bitcoin price rose after news broke that BlackRock had filed an amended Bitcoin ETF…

Bitcoin Mining Stocks Outperform Range-Bound BTC Price Amid Transaction Fee Surge

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Hut 8 signs interim deal for Texas mining amid Celsius bankruptcy

As part of the Celsius Network’s bankruptcy proceedings, Hut 8’s mining operation is set to accommodate 66,000 miners and be powered by over 215 MW of energy upon completion. In the prominent North American digital asset mining and high-performance computing infrastructure provider’s statement, Hut 8 President Asher Genoot expressed confidence in their selection as partners for the Cedarvale mining project, citing the strength of their managed services business managing 680 MW.  Genoot emphasized its ability to establish mining infrastructure and optimize operations rapidly. The overarching objective, he noted, is to build…