Tag: Mining

Russian parliament passes bill for crypto use in international trade, legalizes crypto mining

Russian parliament passed a bill allowing the use of crypto for international trade and also legalized crypto mining. The legislation aims to facilitate international transactions that Western sanctions and regulatory pressures on local banks have hampered. The use of crypto will allow certain industries to bypass specific trade regulations.  According to Reuters, Russia has experienced notable interruptions in global transactions with key trading partners like China, India, the United Arab Emirates, and Turkey. This is due to local banks exercising increased caution under pressure from Western regulators. BREAKING: 🇷🇺 Russian parliament has…

Riot Platforms’ (RIOT) Acquisition of Block Mining Makes Sense, JPMorgan (JPM) Says

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Bitcoin miner Riot Platforms acquires rival Block Mining for $92.5m

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Colorado-based Bitcoin mining company Riot Platforms has acquired its Kentucky-based competitor Block Mining to increase its operational capacity by 16 EH/s. Bitcoin (BTC) miner Riot Platforms has acquired Block Mining, a Kentucky-based crypto mining firm, for $92.5 million to expand its operational resources. The company said in a Jul. 24 press release the deal immediately adds 1 EH/s to its self-mining hashrate “with a potential to add up to a total of 16 EH/s by the end of 2025.” The acquisition includes a $18.5 million cash payment and $74 million…

Paraguay’s President Dismisses Complaints About Power Fee Hikes From Bitcoin Mining Companies, Asserts High Interest Remains

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Santiago Peña, the President of Paraguay, recently dismissed the complaints that bitcoin mining farm operators have voiced against the power fee hikes that ANDE has enacted for these activities. Peña stated that these price increases don’t need to be consulted with the operators and that more companies in the industry are waiting to enter the […] Original

Bitcoin firm Swan pauses IPO plans, suspends mining arm

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Bitcoin-focused firm Swan is suspending its crypto mining business, pulling plans to IPO “in the near future.” Californian Bitcoin-focused investment firm Swan is halting its plans to go public in the near future and has decided to suspend its mining branch just five months after its launch. In an announcement on X, Swan chief executive Cory Klippsten said the firm is also pulling back from its “accelerated spending plan,” including staff cuts “across many functions.” The Swan CEO explained that the decision was made because the firm doesn’t anticipate “significant…

Cory Klippsten’s Swan Bitcoin Drops IPO Plan, Cuts Staff and Will Shut Managed Mining Unit

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Earlier this year, Swan said it will go public within the next 12 months and the mining unit had 160 megawatts (MW), or 4.5 exahash per second (EH/s), worth of computing power up and running. The firm also said that the mining business has been funded by institutional investors, with more than $100 million and hopes to raise more capital to expand its operations. Original

Bitcoin mining stocks brace for technical risk

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Bitcoin mining stocks continued their recovery as Bitcoin continued rising during the weekend. Bitcoin mining stocks are rising Bitcoin has risen by over 26% from its lowest point this month as bulls anticipate an eventual move to $70,000. Core Scientific (CORZ) stock rose by 2.3% on Monday, while Riot Platforms (RIOT), Marathon Digital (MARA), Iris Energy (IREN), Cipher Mining (CIFR), and CleanSpark (CLSK) jumped by over 2%. Bitcoin mining stocks CORZ, RIOT, MARA, IREN, and CLSK The companies have risen as investors remained optimistic that Bitcoin will continue its recovery…

Infinity Hash: Innovating Passive Income With Bitcoin Mining

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Bitcoin Mining Today: Challenges and Investment Choices Despite renewed interest in Bitcoin mining investments, substantial barriers still limit accessibility for the average person. High electricity costs, combined with capital and knowledge requirements can make it challenging to obtain a profit. Investors that don’t have the time, money, or geographical location are left with essentially two […] Original

Excessive Greed: More Bitcoin Mining Companies Are Abandoning Paraguay for Brazil

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The recent power hikes that ANDE has enacted for Bitcoin mining companies are already impacting their operations in Paraguay. According to recent reports, the Penguin Group, a cryptocurrency mining operator, has already signed a contract to secure 400MW of energy in Brazil. This could be a potential destination that other companies are considering. Paraguayan Bitcoin […] Original

KK Miner’s cloud mining contracts promise investors $840 in BTC daily

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin Surges Past $65,000, Boosting Profits for KK Miner Cloud Mining Investors up to $840 Daily. Recently, Bitcoin has once again broken through the $65,000 mark, showing an upward trend after the recent decline. This trend not only delighted direct Bitcoin investors, but also a group of indirect Bitcoin investors who invested in KK Miner cloud mining contracts. According to investigations, KK Miner’s cloud mining contracts have allowed some…