Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon […] Original
Greenidge Generation Holdings Inc. has expanded its bitcoin mining operations with a new site in Mississippi. The site, which went live on July 1, 2024, features 2,400 bitcoin miners and is expected to increase capacity further in the coming months. Greenidge Adds 2,400 Bitcoin Miners to New Mississippi Facility Greenidge (Nasdaq: GREE) acquired the 12-acre […] Original
The following month, the Texas Blockchain Council (TBC), an industry group, and mining company Riot Platforms filed suit against the DOE, EIA, OMB and various officials, accusing them of violating the Administrative Procedure Act (APA) and calling for a temporary restraining order and injunction to suspend the survey until proper a notice and comment process had been observed. Source
Bitcoin mining stocks bounced back in Wednesday’s pre-market session, helped by the recent BTC rebound. Riot Platforms shares rose by over 1%, while Marathon Digital, the biggest miner in the industry, rose by 1.65%. Other companies like CleanSpark (CLSK), Iris Energy (IREN), Core Scientific (CORZ), and TeraWulf (WULF) rose by over 1.5%. Bitcoin price is rebounding These stocks rose because of the ongoing Bitcoin price action. After bottoming at $53,520 last Friday, Bitcoin rose to over $59,390 on Wednesday. This rebound happened as the industry sent mixed signals. On the…
Malaysia’s largest electricity utility says it lost over $755 million due to illicit Bitcoin mining activities starting from 2018, significantly impacting the country’s energy sector. Tenaga Nasional Berhad (TNB), the largest electricity utility company in Malaysia, lost RM3.4 billion (over $755 million) in West Malaysia due to illicit Bitcoin mining activities from 2018 to 2023, The New Straits Times reports, citing Akmal Nasir, deputy minister of energy transition and water transformation of Malaysia. While Nasir admitted that crypto mining activities constitute a small fraction of total energy consumption, they had…
According to local reports, clandestine bitcoin mining is thriving again in Venezuela, albeit at a small scale after the government ordered to disconnect all Bitcoin mining operations from the power grid. Local ASIC stores are still selling miners for small operations, that survive by hiding their farms in undisclosed locations. Clandestine Bitcoin Mining Rises Again […] Original
Bitcoin mining company TeraWulf Inc. has repaid its remaining $77.5 million term loan ahead of schedule, eliminating all its outstanding debt. This move grants the company greater financial flexibility to capitalize on the growing demand for energy infrastructure, particularly for powering generative AI technology. The company said on Tuesday that it plans to capitalize on generative AI to reduce funds and outflows. TeraWulf’s shares have more than doubled this year, bolstered by the rising demand for AI hosting. This success follows a trend with other Bitcoin miners, such as Core…
Miners’ profitability has been hit as the daily revenues fell from $78 million pre-halving to $26 million currently, one market analyst noted. Original
The Republican Party has integrated cryptocurrency issues into its 2024 platform titled “Make America Great Again.” The document outlines the party’s intention to “end Democrats’ unlawful and unAmerican crypto crackdown” on law-abiding citizens. Republican Party Integrates Cryptocurrency Into 2024 Platform As the 2024 U.S. general election nears, cryptocurrency and blockchain topics have become significant policy […] Original
Recent data shows that the Bitcoin mining difficulty is on the decline and has hit its lowest since May. This is significant considering what this could mean for the Bitcoin ecosystem, specifically Bitcoin’s price. Bitcoin Mining Difficulty Drops To 79.5 T Data from CoinWarz shows that Bitcoin mining difficulty has dropped to 79.5 T at block 851,204 and hasn’t changed in the last 24 hours. This mining difficulty has continued to fall for a while, with further data from CoinWarz showing that it is down 5% in the last seven…