Canaan Inc., a publicly listed manufacturer of bitcoin (BTC) mining hardware and blockchain infrastructure provider, has shared plans to broaden its self-mining footprint in North America. Publicly Listed Bitcoin Miner Canaan Bolsters U.S. Presence The announcement published on Wednesday says Canaan (Nasdaq: CAN) aims to reach a computing capacity of 10 exahash per second (EH/s) […] Original
Crypto firm Canaan teamed up with a West Texas Bitcoin mining firm to boost its operations in Texas, expanding its North American footprint. Bitcoin (BTC) mining Canaan has entered into a joint mining agreement with Luna Squares Texas, a Texas crypto mining firm, as part of Canaan’s aim to reach 10 EH/s capacity by mid-2025. Under the terms, both companies will share Bitcoin revenue from Canaan’s Avalon mining machines, with the revenue split dependent on the model, Canaan said in a Nov. 20 press release. For Avalon A14 Series machines,…
Russia’s governmental commission on electricity development approved cryptocurrency mining restrictions on Monday, set to take effect on Dec. 1 with subsequent enforcement covering Nov. 15 to March 15 annually through 2031. Deputy Energy Minister Yevgeny Grabchak confirmed the decision, which targets 13 regions, including Irkutsk, Buryatia, and Transbaikal, excluding Moscow. The extended enforcement periods were […] Source CryptoX Portal
Compass Mining is constructing a new Bitcoin mining facility in Iowa, aiming to expand its self-owned infrastructure portfolio in the United States. Compass Mining’s Iowa Expansion Highlights Growing U.S. Presence Compass Mining has announced the development of a bitcoin mining facility on a five-acre site in Iowa. The company plans to energize eight megawatts (MW) […] Source CryptoX Portal
The hashprice, a measure of mining profitability, “increased 29% since the end of October as the BTC rally outpaced network hashrate growth and transaction fees increased as a percentage of the block reward,” analysts Reginald Smith and Charles Pearce wrote. Original
Marathon Digital announces a $700 million private convertible note offering to fund debt repayment, Bitcoin purchases, and corporate needs. Bitcoin (BTC) mining company Marathon Digital said it plans to sell $700 million of convertible notes in a private placement to fund purchases of BTC and general corporate purposes. In a press release on Monday, Nov. 18, the Florida-headquartered company said the notes will bear interest payable semi-annually and mature on March. 1, 2030. Holders will have the option to convert the notes into cash, shares of Marathon stock, or a…
The Russian government has greenlit draft amendments to a bill aimed at taxing crypto mining and transactions. Russia is moving forward with a draft amendment to its Bitcoin (BTC) mining legislation, introducing new tax rules for crypto mining, transactions, and related infrastructure. According to an Interfax report, the amendments, announced by the Ministry of Finance, establish new guidelines for taxing income and expenses in the crypto mining sector, along with outlining the tax obligations for operators of mining infrastructure. Under the changes, cryptocurrencies are defined as property for tax purposes.…
Users can now participate in BTC mining on Binance Pool and earn rewards in the form of Fractal Bitcoin. Though, the exchange has no plans to list the FB token any time soon. In a recent announcement, Binance introduced a new feature on Binance Pool that supports merged mining for Fractal Bitcoin. Fractal Bitcoin is a layer 2 side-chain Bitcoin(BTC) scaling solution which uses the Bitcoin core code to “scale unlimited layers on top of the world’s most secure and most-held blockchain,” according to the official website. Binance Pool’s Fractal…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Argentine President Javier Milei calls for maintaining cryptocurrency independence, Hive provides an update on its Paraguayan mining site, and World lands in Brazil. Milei Advocates for Crypto Independence: ‘Don’t Let States Take Over’ […] Source CryptoX Portal
The Russian Energy Ministry has officially proposed limiting crypto mining activities in certain special regions affected by energy shortages. The authorities have the right to impose such a ban following the enactment of the recent national cryptocurrency law this month. Russian Energy Ministry Proposal Would Limit Crypto Mining Activities in Special Regions While authorities have […] Source CryptoX Portal