Tag: Mining

Bitcoin mining hits record high difficulty

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Bitcoin mining has hit a historic high, with a 5.07% surge in mining difficulty — a record 67.96 T.  Data from blockchain explorer BTC.com indicates the leap in Bitcoin (BTC) mining difficulty has reached an unprecedented 67.96 T (terahashes), with the average hashrate — the Bitcoin network’s computational power gauge — standing at a robust 504.80 EH/s (exahashes per second).  Bitcoin mining difficulty ushered in a mining difficulty adjustment at block height 818496. The mining difficulty was raised by 5.07% to 67.96 T, continuing to hit a record high. The…

Bitcoin Mining Difficulty Hits New Record High With 5% Rise

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The Bitcoin mining difficulty has witnessed another increase in 2023, bringing the metric to a new all-time high. The Bitcoin “difficulty” is a vital aspect of the network that controls the rate at which new blocks are added to the blockchain at a given time. Bitcoin Mining Difficulty Surges To A New High Of 67.96T According to data from BTC Blockchain Explorer, the Bitcoin network experienced a significant adjustment at block height 818,496. This caused the blockchain’s difficulty to soar by 5.07%, reaching a new all-time high of 67.96 T.…

Bitfarms secures $44m from U.S. investors to boost Bitcoin mining ops

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Bitfarms announces a $44 million private placement with U.S. investors to expand its Bitcoin mining infrastructure and strengthen its working capital. Bitfarms Ltd., a Canadian Bitcoin mining company, has initiated a private placement deal with U.S. institutional investors to raise approximately $44 million ($60 million CAD). This strategic deal, set to close around Nov. 28, entails the issuance of over 44 million common shares at 99 cents each, coupled with warrants for purchasing additional shares.  As Bitfarms mentions, the proceeds from this private placement will fund key growth initiatives, including…

Ethereum price up 3%, crypto mining token also gaining momentum

Ethereum (ETH) added 3% in the past 24 hours amid a mild recovery in the crypto market. Bitcoin (BTC) also rose above $37,000 after a dip earlier this week, influencing altcoins such as ETH. With the market gaining momentum, the focus is shifting to the presale phase of Bitcoin Minetrix (BTCMTX), a new crypto-mining platform. Ethereum adds 7% on bullish on-chain metrics The ETH price is up by over 7% from the Nov. 22 low, regaining the crucial $2,000 level. This rally comes as the crypto market rebounds from losses…

Bitcoin Mining Pool F2Pool Accused of Censoring Transactions on U.S. Government Blacklist

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Celsius Network’s Shift Towards Bitcoin Mining Plan

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Bankrupt crypto lender Celsius Network has revealed that the company planning on switching to a Bitcoin mining-only company, following its bankruptcy court’s confirmation of the plan. Celsius Transition To Mining NewCo Celsius Network‘s transition into a mining company coincides with its bankruptcy proceedings. Over the past year, the digital assets company has experienced financial challenges, which led to its bankruptcy filing. In September, Celsius filed for a reimbursement plan as its bankruptcy plan to resolve the financial challenges in the company. This saw over 95% of Celsius’ creditors voting in…

Celsius entity to focus only on mining under proposed reorganization plan

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Cryptocurrency lending firm Celsius said its reorganized company will focus only on Bitcoin mining following feedback from the United States Securities and Exchange Commission (SEC). In a Nov. 20 announcement, Celsius said the core business of the ‘NewCo’ company proposed under its restructuring plan will be Bitcoin (BTC) mining rather than staking. The firm said it had reached the decision to focus its efforts on mining “based on the SEC’s feedback [and] in consultation with the Official Committee of Unsecured Creditors.” Under the restructuring, Celsius said some of its assets…

Bitcoin Mining Services Firm Luxor Starts Logistical Services to Make Shipping of BTC Mining Rigs Faster

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The new unit, Luxor Logistics, will focus heavily on streamlining complex customs regulations in different regions by customizing transportation and delivery services, lowering the time required for shipping mining rigs for miners. “With the variety of import/export regulatory demands across different regions, Luxor positioned itself as a knowledgeable and valuable partner, helping miners to navigate the complex landscape of customs and documentation,” Lauren Lin, Luxor’s director of business development, told CoinDesk in a statement. Original

AI’s energy consumption concerns echo Bitcoin mining criticisms, says Heatbit founder

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Artificial intelligence (AI) and machine learning (ML) are demanding huge amounts of computing resources as interest in the space grows, but conventional Bitcoin (BTC) miners are not jumping on the bandwagon just yet. Speaking to Cointelegraph journalist Joe Hall at Web Summit 2023 in Lisbon, Portugal, Heatbit founder Alex Busarov believes that mining farms, data centers and small-scale computing power providers are far more clued up on Bitcoin mining than the nascent AI and ML infrastructure space. Alex Busarov at Web Summit 2023, with a Heatbit Bitcoin-mining heater strapped to…