Tag: Mining

Thai authorities bust illegal Bitcoin mining rigs, charge two over $280k theft: report

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Thailand charges two for stealing over $280,000 in electricity for illegal Bitcoin mining. Thai authorities have cracked down on illegal Bitcoin (BTC) mining operations, shutting down nine illicit sites and arresting two suspects on charges of electricity theft, valued at over $280,000, The Straits Times has learned. The operation, which took place in Surat Thani province, follows a growing trend of illegal crypto mining activities that have surged in the country in recent years. The investigation was triggered when a local resident reported suspicious CCTV cameras installed at a seemingly…

Bitcoin’s Next Move: Mining, ETFs, and Post-U.S. Election Trends With Uphold’s CEO Simon McLoughlin

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Uphold is a leading digital asset platform, empowering individuals and enterprises to engage with a wide range of assets—from cryptocurrencies to precious metals. Serving over 10 million users across 150+ countries, Uphold delivers a seamless experience with deep liquidity across 300+ assets, plus a robust suite of products that includes innovative storage solutions, interest-bearing accounts, […] Original

Jack Dorsey’s Block Bets Big on Bitcoin Mining 

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Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a commitment to the cryptocurrency sector and its infrastructure needs, according to its recent third-quarter shareholder letter. Block’s New Investment Focus on Bitcoin Mining Infrastructure In a letter to shareholders, Block identifies bitcoin mining as a key growth path, driven […] Original

Block Inc. shifts focus to Bitcoin mining amid plans to sunset Web5-focused TBD

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Jack Dorsey founded payments firm Block Inc. is pivoting its focus towards the cryptocurrency mining sector. In a Nov. 7 shareholder letter, Block, formerly Square Inc., said it would dial down resources towards its music streaming service TIDAL, and sunset TBD, a venture focusing on decentralizing the internet, to focus on expanding its presence in the Bitcoin mining sector. Block acquired TIDAL in a 2021 acquisition for roughly $300 million, as the streaming service was facing stiff competition and failing to gain traction. The platform has continued to struggle, with…

Bitcoin Mining Stocks Skyrocket as Trump’s White House Win Sparks Crypto Rally

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After last week’s turbulent period, publicly traded bitcoin mining companies rebounded on Wednesday, celebrating a strong performance as Trump clinched the White House. Bitcoin Mining Stocks See Explosive Gains On Nov. 6, bitcoin mining stocks rallied, riding high alongside bitcoin, which hovered at $74.6K by 9:40 a.m. ET on Wednesday. MARA Holdings (MARA), boasting the […] Original

Hut 8’s Cryptocurrency Mining Upgrade Targets 66% Hashrate Growth by 2025

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