Tag: Mining

UAE, Argentina and Ethiopia begin state-backed Bitcoin mining

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Three of the newest members of BRICS—Argentina, the UAE, and Ethiopia—have begun mining Bitcoin using government resources, according to Matthew Sigel, Head of Digital Assets Research at investment firm VanEck.  This move highlights an emerging trend among BRICS nations toward exploring digital assets for economic resilience and financial independence. The BRICS coalition, which now includes six additional nations, has a combined GDP larger than that of the G7, according to Sigel in an interview with CNBC. Recent developments suggest a shift away from traditional Western financial systems. Three of the…

Strategic Diversification in Bitcoin Mining and HPC – Bit Digital (BTBT) Analysis

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Bit Digital is strategically navigating the post-halving era, opting for HPC opportunities instead of expanding hash rate at any cost. With a focus on generating predictable revenue, could BTBT emerge as the next dark horse among Bitcoin mining stocks? Analyzing Bit Digital’s (BTBT) Approach to Bitcoin Mining and HPC Diversification The following guest post comes […] Original

A New Approach to Analyzing Operational Efficiency of Bitcoin Mining Companies

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Discover how Bitcoin mining companies are navigating operational efficiency amid global layoff trends by examining their G&A expenses relative to revenue. Analyzing the Operational Efficiency of Mining Firms Like MARA, CLSK, RIOT, and Other Top Miners The following guest post comes from Bitcoinminingstock.io, the one-stop hub for all things bitcoin mining stocks, educational tools, and […] Original

Exploring opportunities to make over $20k with ION Mining

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. ION Mining’s cloud mining contracts provide a unique opportunity to earn passive income, allowing users to mine Bitcoin effortlessly and potentially make thousands in USDT. ION Mining’s cloud mining contracts offer users the chance to earn thousands or even tens of thousands of USDT in passive income. In an era of rapid growth in the digital economy, seeking strong, high-return investment opportunities has become everyone’s ultimate goal. Among numerous…

Illegal Bitcoin mining costs Malaysian electricity company over $100m

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Malaysia’s national electricity provider, Tenaga Nasional Berhad, has reported losses exceeding 440 million ringgit (about $101 million) due to electricity theft linked to illegal Bitcoin mining activities.  Local reporting from The Star indicates that since 2020, this theft has significantly impacted TNB’s finances, resulting in a loss of 103 million ringgit in 2023 alone, according to Suhai Rizain, the director of Malaysia’s Criminal Investigation Department. The losses from crypto mining have increased sharply over the years. In 2020, TNB recorded losses of 5.9 million ringgit. This figure escalated to 140.4…

Uncharted Territory: Bitcoin’s Mining Difficulty Reaches New Extremes

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Bitcoin’s difficulty has soared once again at block height 866,880, reaching a record-breaking 95.67 trillion. Meanwhile, the network’s computational power is keeping pace, operating at a blazing 729.13 exahash per second (EH/s) at the time of reporting. In the coming days, it’ll be fascinating to watch how the combination of increased difficulty and dipping prices […] Original

Bitfufu Expands to Africa: Acquires 80MW Bitcoin Mining Facility in Ethiopia

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Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure. With this acquisition, Bitfufu’s hosting […] Original