On Wednesday, Bitfarms Ltd. announced plans to acquire Stronghold Digital Mining Inc. in a stock-for-stock merger valued at approximately $125 million, along with the assumption of $50 million in debt. The deal, expected to close in the first quarter of 2025, aims to expand Bitfarms’ energy portfolio in the U.S. and integrate power generation capabilities […] Original
While Bitcoin is widely recognized as a proof-of-work (PoW) network, it’s not necessarily the most profitable PoW asset to mine. With Bitcoin’s hashprice being relatively low, miners have been increasingly turning their attention to mining alephium (ALPH) and kaspa (KAS). These two digital currencies currently offer the highest profitability for miners, according to the latest […] Original
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Seven individuals were arrested in Malaysia during a special operation targeting illegal bitcoin mining in Bandar Baru Salak Tinggi and Taman Putra Perdana. The operation, which involved coordinated efforts by law enforcement, focused on detecting and stopping bitcoin mining activities linked to electricity theft. The suspects, aged between 30 and 74, included three local men […] Original
Economist and gold advocate Peter Schiff predicts that “precious metals mining will be the best-performing sector” this decade. He highlighted that “gold mining stocks are a steal” and anticipates “a major bull market.” Additionally, Schiff cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon. ‘The Stage Is Set […] Source CryptoX Portal
The Paraguayan justice system has reached a milestone by achieving its second conviction related to a power theft crime linked to cryptocurrency mining. Carlos Raul Rojas, the owner of a dwelling where over 1,000 cryptocurrency miners operated, was sentenced to 18 months in prison for causing over $1.5 million in losses to the National Power […] Source
As the landscape of Bitcoin mining becomes increasingly competitive, the question of profitability takes center stage. With advancements in technology and shifts in the industry, it’s crucial to understand how Bitcoin mining remains viable today and how the DeMi Token is redefining access to this opportunity. The Evolution of Bitcoin Mining In the early days, […] Original
U.S.-listed mining companies produced a larger share of bitcoin in July than June, accounting for 21.1% of the total network versus 20.7% in May, the report said. August will be a more difficult month for the miners as the price of bitcoin has dropped about 5% while the network hashrate has started to grow again, the report added. Original
CleanSpark stock has the potential for an upside despite the mixed earnings in its most recent financial report. H.C. Wainwright analyst Mike Colonnese reiterated the firm’s “buy” rating with a $27 target price for the shares of the Bitcoin (BTC) miner. The analyst reaffirmed CleanSpark’s buy rating in a note shared with crypto.news on Aug. 12. Analyst reiterats ‘Buy’ Rating for CleanSpark Despite the mixed third quarter 2024 financial results, H.C. Wainwright says the revenue growth of 129% year over year aligned with their estimate. CLSK, which hovered near $10.95…
During the first week of August 2024, Bitcoin’s hashprice—a key metric that gauges the daily value of one petahash per second (PH/s) of hashpower—dipped to its lowest point in history, sliding below $38 per PH/s. In this fiercely competitive bitcoin mining arena, only the most resilient operations can thrive, with the best-performing machines bringing in […] Original