Tag: Mining

Bitcoin mining is becoming more environmentally friendly

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Bitcoin (BTC) mining’s environmental impact has always been a controversial topic. On the one hand, critics emphasize that securing the Bitcoin network takes more power than some whole countries’ annual electricity consumption. On the other hand, much of the crypto community argues that it is a necessary activity that has enabled the Bitcoin blockchain to remain extremely resilient against external attacks with an almost 99.99% uptime throughout over 14 years of its history. However, recent developments in the market have provided an opportunity for participants to make Bitcoin mining finally…

Master ETC Mining: The Premier Ethereum Classic Mining Pool

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Hiveon is a highly regarded participant in the cryptocurrency space. Transforming the way people perceive and interact with digital assets. With a forward-thinking approach, Hiveon’s goal is to establish a decentralized and inclusive financial ecosystem that empowers individuals to have complete control over their wealth and transactions. At the core of this ecosystem lies Ethereum Classic (ETC), a well-known blockchain platform. ETC is a variation of the widely recognized Ethereum network, embodying the principles of transparency and immutability. It upholds the very essence of blockchain technology. ETC boasts a significant…

CleanSpark’s Bitcoin mining capacity hits 8 EH/s as new facility goes live

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Bitcoin miner ClearSpark has begun the second phase of operations at its mining campus in Washington, in the U.S. state of Georgia, reaching 8.0 exahashes per second (EH/s), halfway to its year-end target of 16.EH/s.  The second phase saw an investment of nearly $55 million in the site, including construction, infrastructure and machines. The facility, bought in August 2022 for $25.1 million, had 15,000 mining machines with a power capacity of 50 megawatts (MW). According to the company, the capital deployed expands its total power capacity to 86 MW. “Today,…

Bitcoin mining difficulty hits all-time high as BTC miner selling peaks

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Bitcoin (BTC) mining difficulty reached an all-time high of 53.91 trillion units after the latest difficulty adjustment on July 12. It is a measure of how difficult it is to mine Bitcoin blocks. The blockchain adjusts its difficulty every two weeks to maintain its processing time of 10 minutes. When the network’s processing power increases, it adjusts to make mining challenging, reducing the profitability for individual miners. The latest adjustment will add to the pressure on miners who have been selling off their mined BTC since June. Some analysts suspect…

Firm managing over $7 trillion in assets buys more bitcoin mining stocks

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Vanguard Group, a financial manager controlling assets worth over $7.2 trillion, is buying more stocks from leading bitcoin mining companies per recent filings with the Securities and Exchange Commission (SEC). Per public data, Vanguard has been increasing its exposure to stocks from some of the United States’ top Bitcoin miners, specifically Marathon Digital and Riot Blockchain. Vanguard increases exposure to bitcoin mining stocks Records show that Vanguard holds 17.5 million shares of Marathon Digital worth $280.5 million. At…

Bitcoin mining stock prices outperformed BTC in H1 2023

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin mining stock prices outperformed bitcoin prices in H1 2023, recent data shows. Comparing the performance of the top nine public bitcoin (BTC) mining firms, based on market capitalization, reveals that their average year-to-date stock price are up by over 250% in 2023. At this level, it is over 3X the performance of the world’s most valuable coin during this period. Bitcoin price and stock performance The difference in performance between bitcoin mining stocks and bitcoin…

Bitcoin mining stocks outperform BTC in 2023, but on-chain data points to a potential stall

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Bitcoin mining companies outperformed BTC price by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date gains in 2023 across the stocks of top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than BTC’s gain in the same period. The higher gains represent the leveraged beta effect that mining stocks enjoy. Leveraged beta suggests that during Bitcoin upside, these stocks outperform. Whereas, when Bitcoin slumps, they face deeper downside risk. Due to a…

UAE now accounts for 3.7% of the global bitcoin mining activity

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Recent data published by Hashrateindex indicates that the United Arab Emirates (UAE) is carving out market share from the global bitcoin mining sector. This development can be attributed to the their proactive adoption of web3 technologies and increasing access to renewable energy sources. UAE emerges as a serious player in bitcoin mining The UAE is known for its support of innovative technologies. With heavily subsidized electricity tariffs for specific sectors, the country has seen widespread home-based crypto mining…

8 ways crypto mining companies can effectively embrace ESG practices 

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Companies across industries are focused on improving their environmental, social and governance practices, and with good reason. In addition to having the desire to do good for its own sake, businesses are very aware that more and more investors are taking a company’s ESG standards and practices into account when making investment decisions. Crypto mining companies would do well to look into how they too can keep ESG practices in mind, and in light of a common criticism levied at the crypto industry — that it has a large carbon…