Mining news wire
Mining and blockchain infrastructure news from the Mining Plus Crypto newsroom archive.
56 archived articles
News posts are archived reporting. Each item is dated and preserved as published; nothing here is updated to reflect later developments.
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Michael Ho Set to Receive $135M in Damages The most dominant crypto mining firm by market cap, Marathon Digital, was fined $135 million earlier this week following a court verdict that showed the company breached a non-circumvention or non-disclosure agreement. The complainant, Michael Ho, who is currently the Chief St
An individual crypto miner used a device with a computational power of only 500 Gh/s (gigahashes per second) to generate a block on the Bitcoin blockchain on Wednesday evening. The news was first shared on X by Altair Technology, a leading retailer of Bitcoin mining devices. Altair Technology Reveals Mining Device Used
A recent article published by Bloomberg has revealed that Bitcoin miner Cipher received a takeover bid earlier this week and is now considering a sale. Bloomberg claimed that the miner’s leadership is engaging with various advisers on the matter but may still decide not to sell. Following the news, Cipher’s stock CIFR
Illicit Crypto Mining in Malaysia Illegal cryptocurrency miners in Malaysia have stolen electricity worth more than $720 million over the past five years, according to Malaysian Deputy Minister for Energy, Akmal Nasir. The executive officer was speaking during an event where over 2,000 seized items, including crypto mi
Bitfarms Names Ben Gagnon as New CEO According to an announcement released on July 8th, Bitfarms has a new leader. The Bitcoin mining company revealed Ben Gagnon as the new CEO after working as chief mining officer for four years. On the day of the announcement, Riot Platforms, a mining firm that holds majority shares
Crypto mining firm Marathon Digital has disclosed mining $16 million in Kaspa since last September in an effort to diversify from BTC. In its latest statement, the company argued that the move will boost its revenue by significant margins in the future. Marathon Digital Plans to Deploy Additional Kaspa Mining Machines
CleanSpark’s Latest Acquisitions On Friday, crypto mining firm CleanSpark announced it had signed a contract to buy five mining farms in Georgia. Per the company’s statement, the $25.5 million deal is financed with cash and is expected to close soon. The five mining facilities will generate a combined processing power
Bitcoin mining stocks rose by over 10% on Wednesday following a promise by former US president Donald Trump that he would support crypto mining activities when he ascends to power. Speaking to top executives of various crypto mining companies, Trump said he wants the remaining BTC to be mined in the United States. Foll
Bitcoin mining firm Bitdeer has announced its “SEAL04” chip, set to power in the recently rolled out Sealminer rig. According to the company’s technology roadmap, the chip will be launched in May 2025 and is expected to attain energy efficiency of 5 J/TH (joules per terahash). Bitdeer says the released roadmap is inten
Bitcoin mining pool Ocean Mining, which is backed by former Twitter CEO and founder Jack Dorsey, has announced that it’s moving its headquarters to El Salvador, a crypto-friendly country. Per the announcement made on May 31st, Ocean Mining will be headquartered in San Salvador City. In a statement, Ocean Mining boss Ma
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Ten Mining Companies Secure $2 Billion in Funding BlocksBridge Consulting’s latest report shows that ten publicly traded Bitcoin mining companies secured over $2 billion before Bitcoin halving, which took place on April 20th. The crypto research company said in a statement that the funds were meant to protect the miner
Bitcoin mining is known for being an expensive venture, requiring miners to invest millions of dollars into setting up mining rigs. However, that might no longer be the case thanks to GoMining, a crypto mining company that seeks to lower barriers to entry to make mining more accessible. Mark Zalan, the GoMining CEO, sp
Core Scientific’s Revenue Report Leading Bitcoin mining company Core Scientific announced on Tuesday that its total revenue for the first quarter of this year hit $179 million. By comparison, the firm posted revenue of $58 million during the same period last year. Of the $179 million, $150 million came from Core Scient
On Monday, a team of Web3 developers released a detailed plan titled BitSnark and Grail to enable the launch of rollups on Bitcoin. Rollups have been used on other blockchains for several years, but many deem the concept impractical on Bitcoin, the oldest blockchain. So, what are rollups? They are systems designed to b
The rising temperatures in Paraguay have led to air conditioners running at full throttle. This scenario has endangered the country’s power grid as demand for electricity continues to grow. To tackle this problem, several Paraguayan lawmakers tabled a bill early this week targeting crypto miners. The Proposed Bill The
Marathon’s Latest Purchase Crypto mining company Marathon announced on Monday that it had struck a deal with Applied Digital to buy a 200-megawatt Texas-based Bitcoin mining facility for $87 million. Per the deal, Marathon is set to finance the purchase in cash. A blog on Marathon’s website states that the new acquisit
Validators are important parties in any blockchain network. They verify and add transactions to proof-of-authority and proof-of-stake blockchains. Validators usually check whether the impending transactions follow the rules of a particular blockchain. Moreover, blockchain validators are responsible for maintaining the
Is mining cryptocurrencies worth it in 2024? Many continue to ask themselves this question as crypto mining costs increase daily. There are several Graphics Processing Units, famously known as GPUs, that allow people to mine digital currencies efficiently. In this article, we will take a look at some of the leading GPU
Riot Platforms’ Latest Report In a report released on February 23rd, Bitcoin mining company Riot Platforms said its BTC output rose by 19.% in 2023 after mining 6,631 coins. Moreover, the firm recorded an uptick in yearly revenue, primarily because of the increase in Bitcoin price last year compared to the previous yea
Bernstein Recommends Two Mining Stocks Bernstein, a popular brokerage firm, has advised investors to purchase Bitcoin mining stocks in order to gain exposure to BTC indirectly ahead of this year’s halving. The broker recommends two mining stocks, including CLSK, issued by CleanSpark, and RIOT, associated with Riot Plat
CleanSpark’s Latest Acquisitions Popular Bitcoin mining company CleanSpark, which trades on Nasdaq under the CLSK ticker, has announced that it entered agreements last week to acquire three Mississippi-based Bitcoin mining facilities for a whopping $19.5 million. The purchases were paid in cash. According to CleanSpark
Mining cryptocurrencies like Bitcoin, Litecoin, and Dogecoin requires intensive energy use. This is because they employ a consensus mechanism known as proof of work (PoW). But crypto mining no longer has to consume a lot of energy, thanks to another consensus algorithm called proof of stake (PoS), which several top cry
School Officials Face Crypto Mining-Related Charges On Friday, the US Justice Department charged two officials from the Patterson Joint Unified School District for setting up crypto mining operations in ten schools, using the learning institutions’ resources and causing their electricity costs to surge. According to th
HashFlare Founders’ Extradition to the US Sergei Potapenko and Ivan Turogin, the co-founders of the now-closed crypto cloud mining platform HashFlare, are set to be extradited to the United States from Estonia after the Estonian government met the requirements for their extradition. The pair have been charged with mone
Phoenix Splashes $186.5M on Crypto Mining Machines Phoenix, a popular crypto mining company listed on the Abu Dhabi securities market, has announced that it has spent more than $186 million to acquire mining machines to increase its production capacity. Phoenix’s subsidiary, Phoenix Computer Equipment, revealed the pur
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Every 4 years, Bitcoin miners prepare themselves to see their mining rewards reduced by half in an event known as halving. In less than 100 days, another halving event will happen. But does it mean anything to Bitcoin investors? Should they pay attention? Let’s get the answers in this article. Bitcoin Halving: The Bolt
Marathon Digital Acquires Two Mining Facilities Mining firm Marathon Digital has inked a purchase deal to acquire two Bitcoin mining facilities with a combined capacity of 390 megawatts. The deal is said to cost $178 million. It marks the mining firm’s transition to an organization that manages a diversified portfolio
Miners in Ocean Mining Pool Set to Process Ordinals Transactions Popular Ordinals critic and the founder of the Ocean mining pool, Luke Dashjr, seems to have changed his negative stance on NFT-like assets on the Bitcoin blockchain after his company announced that it will now allow miners to mine blocks containing non-f
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Tether Reveals Its Entry Into Crypto Mining Stablecoin issuer Tether has announced its plan to invest in Bitcoin mining in 2024. The company behind the largest stablecoin, USDT, said it would inject $500 million into its new area of interest. In the announcement, Tether said its investment strategy involved setting up
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Bitcoin ETF vs Mining Stocks There is growing hope that a Bitcoin spot ETF will soon hit the US market. Most crypto enthusiasts have already started discussing how this type of Exchange-Traded Fund will boost Bitcoin’s price and fuel mainstream crypto adoption. For starters, an ETF can be described as an investment pro
Bitcoin Mining Revenue Surges According to data from Blockchain.com, Bitcoin mining revenue achieved a new yearly high on Thursday, as the coin’s price continued to rally amid excitement within the crypto industry caused by the growing possibility that the United Securities and Exchange Commission will likely approve a
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Mining Stocks Outpace Bitcoin A new report shows that most of the top eleven mining stocks have outperformed BTC. Nine of these stocks have posted gains of over 100% since January. Bitcoin, on the other hand, is up 70% this year, according to data from CoinGecko. Mining firms whose stocks have recorded gains lower than
Sazmining Embraces Renewable Energy Sazmining, a popular Bitcoin mining firm, opened its new facility in Paraguay early last week. The company has now announced that it will use renewable energy to power mining equipment. Sazmining operates crypto mining rigs bought by customers and then takes a 15% commission for runn
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As of October 2023, Ethereum’s native token, ETH, is ranked second, with a market cap of $192.8 billion. While Ethereum is less popular than Bitcoin, there is an argument that it plays a bigger role in the development of the crypto industry than its main rival. That’s because it allows Web3 developers to build dApps […
FTX Stakes Tokens On Monday, the bankruptcy estate for now-fallen crypto exchange FTX staked SOL tokens worth over $122 million. On-chain observers have reported that the tokens were transferred from an FTX-owned crypto wallet to Figment, the staking platform that caters to institutional crypto investors. Over the week
In any financial market, a trending movement attracts traders and investors, while an unclear price action pushes them away from the market. This explains why there has been a decline in spot trading volumes over the past months, as Bitcoin continues to trade in a range. This week’s Bloomberg report indicated that spot
Crypto Funding Stats 2023 Galaxy Research’s latest report suggests that venture capitalists are shying away from the blockchain ecosystem. For the first time since 2020, the number of deals closed is below 400 after three quarters. By comparison, the blockchain analytics company reported 600 deals worth $6 billion at t
Hamas’ Binance Accounts Frozen On Wednesday, Israel’s Ministry of Defense announced it had collaborated with crypto exchange Binance to freeze several Hamas-linked trading accounts. The move comes a few days after the terror group attacked the Jewish country, leaving over 900 people dead. Binance helped the Israeli aut
DeFiLlama’s Stablecoin Data Stablecoins have had a rough ride in the past 18 months. Since Terraform’s Stablecoin UST collapsed in May 2022, the total market cap for stablecoins has dropped more than 35%. According to data from crypto analytics platform DeFiLlama, stablecoin’s market valuation was at $189.2 billion 18
Sam Bankman-Fried’s Trial Federal prosecutors have announced the witnesses expected to testify in the case brought against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX. The announcement comes a few days before the most-awaited trial begins. In the document sent to court, the federal prosecutors
Binance’s Request to European Users Crypto exchange Binance has asked European users using Paysafe to convert their Euro holdings to USDT before the end of next month. The decision comes after the trading platform’s banking partner stopped processing Euro transactions for Binance customers. Earlier this week, Paysafe a
The SFC’s New Regulations On Monday, Hong Kong’s SFC (Securities and Futures Commission) announced new measures that would help enhance security and transparency in the crypto sphere. One of the measures involves the publication of a list featuring licensed, application-pending, and shutting down VATPs (Virtual Asset T
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HFSC Approves CBDC Anti-Surveillance State Act On Friday, the HFSC (House Financial Services Committee) approved the CBDC Anti-Surveillance State Act. The bill will now be presented in the House for voting. Introduced by crypto-friendly lawmaker Tom Emmer, the CBDC Anti-Surveillance State Act is intended to block the F
Rashawn Russell Pleads Guilty On Wednesday, Deutsche Bank’s former investment banker Rashawn Russell pleaded guilty to all charges brought against him in relation to misappropriating investor funds. In April, the United States Department of Justice accused Russell of conning several people into believing their funds wo
Bankman-Fried Parents Sued On Tuesday, FTX bankruptcy estate took legal action against Sam Bankman-Fried’s parents, Barbara Fried and Joseph Bankman, in an effort to recover funds allegedly obtained through fraudulent transfers. Bankman-Fried was the CEO of the FTX, a crypto exchange that collapsed late last year. Acco
Crypto Price Analysis Prices of Leading cryptocurrencies have remained relatively stable this week. Bitcoin and Ethereum are up 2.62% and 1.23% to trade for $26,504 and $1,625.56 at press time. ETH’s growth is likely thwarted by a report suggesting more tokens have been added to supply than those burned since Last Sept
The Elliptic Report Elliptic, a blockchain surveillance company, released a report on Friday regarding the exploits executed by the notorious cybercriminal group Lazarus. The firm noted that the group was involved in five major attacks over the last three months. Last week’s exploit on cryptocurrency exchange CoinEx wa
MAS Impose Ban on 3AC Founders According to a statement released by the Monetary Authority of Singapore (MAS) on Thursday, founders of the failed cryptocurrency hedge fund Three Arrows Capital (3AC) are not allowed to participate in any financial activity in the country for the next nine years. The founders, Kyle Davie
Brian Shroder Resigns According to a report published by Bloomberg on Wednesday, Binance US CEO Brian Shroder stepped down from his position at the start of the week. His departure comes at a time when Binance boss Changpeng Zhao has been refuting claims that his cryptocurrency empire is in danger. Shroder is set to be