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
Chinese electric vehicle manufacturer Kaixin is looking for a strategic shift with plans to acquire a controlling stake in a Middle Eastern cryptocurrency mining operation. The announcement depicts a major jump and diversification from its traditional automotive business. Kaixin in advanced stages of acquisition According to Kaixin’s press release, the Beijing-based company is in advanced stages of evaluating the potential acquisition. The target operation features cost-efficient Bitcoin mining machines and provides comprehensive cloud hosting services to meet growing industry demand. Kaixing stated that the facility’s key advantage lies in its…
Hive Mining, a data center and crypto mining company, gave an update on the construction of a Paraguayan bitcoin mega mining site that will host 100MW of mining hardware. The company also revealed a purchase of nearly $20 million in mining ASICs to revamp its current equipment. Hive Doubles Down on Paraguayan Mining Bet, Announces […] Source CryptoX Portal
Decentralized protocol Prosper secures investment from BIT Mining as it expands its solution to include institutional-grade Bitcoin mining and liquidity farming. Prosper, a decentralized protocol bridging Bitcoin (BTC) mining to the blockchain by providing hashrate-backed tokens representing live Bitcoin mining power, has announced that BIT Mining has made a strategic investment in its native token, PROS. In a blog announcement on Nov. 14, Prosper said the investment represents “another significant validation” of its thesis by institutional backers. “This investment reinforces the credibility and viability of Prosper’s new strategic vision,” the…
Mara Holdings continues to grow its bitcoin bag despite lower than projected Q3 earnings. Digital Assets Remain Key for Mara Holdings Mara Holdings’ earnings report revealed the company added 8,280 bitcoin to its already existing portfolio of 18,467 bitcoin in Q3. This raised its total bitcoin holding to 26,747 BTC. The latest addition to its […] Original