Another bitcoin mining firm is pivoting. Bit Mining Limited announced a strategic expansion into the Solana ecosystem, planning a treasury of SOL tokens worth up to $300 million to fuel the company’s shift. Bit Mining Allocates Up to $300M for Solana Integration The NYSE-listed cryptocurrency mining company said this move aims to capture opportunities across […] Source CryptoX Portal
Key Notes BIT Mining plans to raise $200 million to $300 million to purchase SOL amid a shift in its cryptocurrency focus. The stock surged over 250% in the pre-market but slipped into the red during regular trading. The company says the move targets broader blockchain opportunities following the Bitcoin halving. Bit Mining stock soared over 250% in early pre-market trading on July 10 after the company announced a major strategic shift toward Solana. However, despite the initial excitement, the momentum did not last long. The stock fell into negative…
KULR Technology Group Inc. (NYSE American: KULR) has expanded its bitcoin ( BTC) mining operations, the company announced July 9. KULR Reaches 750 PH/s Bitcoin Mining Milestone On Wednesday, KULR disclosed that it deployed 3,570 Bitmain S19 XP 140 terahash per second (TH/s) bitcoin mining machines at facilities in Asunción, Paraguay. This deployment increases KULR’s […] Source CryptoX Portal
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Key Notes Russia has launched a crypto mining registry to reduce illegal activity. The registry is already active and is available in regions with high mining activity. It is expected to make sure miners pay the right tax based on energy usage. The Russian government is tightening oversight of crypto mining by targeting unauthorized operations that consume excessive energy. To combat illegal activity, the government has introduced a national registry for mining equipment to track and identify unlicensed miners. Local reports indicate the registry is already active and has been…
Russia’s energy ministry has launched a national registry of crypto mining rigs to weed out miners that dodge tax payments and illegal setups that steal power from the grid. State-run newspaper RIA Novosti said in a report on Friday that the Russian Ministry of Energy, the Federal Tax Service and the Ministry of Digital Development of Russia have “compiled a register” and sent it to “regions with increased miner activity.” In June, Russian Finance Ministry official Ivan Chebeskov said that despite introducing crypto mining laws, only 30% of miners had…
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this week’s edition, Brazil proposes the issuance of a new BRICS trade currency, Tether pushes a green bitcoin mining initiative, and the Central Bank of Brazil faces a hack. Brazilian President Lula Proposes BRICS Develop […] Original
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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Copper mines, like this one in Utah, are on the frontline of America’s transition to clean energy. This site, owned and operated by mining giant Rio Tinto, produces roughly 200,000 metric tons of copper annually — with room to grow. Global demand for copper, a major component of EVs, is expected to almost double from 25 million metric tons to nearly 49 million metric tons by 2035. But miners face a multitude of issues as they ramp up production, not least of…