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CryptoCurrency
This Bitcoin Miner from Wall Street Bleeds Red Ink in Brutal Quarter
2024-11-20T10:02:45.317+02:00
Cryptocurrency miners see revenue drop 28% as operational challenges persist.
Stalled Bitcoin prices in Q3 and higher mining difficulty led to a net loss of $6M.
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CryptoCurrency
This Wall Street Bitcoin Miner Orders 6,500 Canaan Machines in $100M Paraguay Push
2024-11-11T10:34:43.700+02:00
HIVE Digital orders new advanced Bitcoin miners and begins construction of a 100 MW facility in Paraguay.
The expansion will increase the company's BTC mining capacity from the current 5.6 EH/s to 12.5 EH/s by Q3 2025.
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CryptoCurrency
Hut 8's Cryptocurrency Mining Upgrade Targets 66% Hashrate Growth by 2025
2024-11-06T14:52:11.469+02:00
The firm’s new miners aim to raise its hashrate to 9.3 EH/s, boosting energy efficiency by 37%.
The company’s cryptocurrency mining upgrade will improve power efficiency to 19.9 J/TH.
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CryptoCurrency
Wall Street Bitcoin Miner’s Net Loss Surges over 90% in Q3 2024
2024-10-31T09:29:54.916+02:00
Riot Platforms' BTC mining revenue doubled to $67.5 million during the last quarter.
However, the company reported a twofold increase in energy and mining costs per 1 BTC.
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CryptoCurrency
Bitcoin Production Costs Hit $49,500 as Wall Street Miners Face Margin Squeeze
2024-10-30T17:42:20.929+02:00
Overall fees reached $96,100, including depreciation and stock compensation.
Miners are responding by diversifying into AI operations and securing strategic power contracts.
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CryptoCurrency
Wall Street Bitcoin Miner Expands to Ethiopia to Combat 170% Surge in Production Costs
2024-10-22T13:21:59.651+02:00
BitFuFu Inc. is acquiring an 80-megawatt Bitcoin mining facility in East Africa to achieve 4.6 EH/s of mining capacity.
The specter of record-high BTC production costs has painfully slashed the profits of this and many other crypto miners.
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CryptoCurrency
Bitcoin Mining Giants from Wall Street Feel the Halving Hangover
2024-08-27T11:01:33.888+02:00
According to recent report, crypto production revenues fell 12% despite BTC's rally.
Some miners are diversifying into AI and high-performance computing to boost profitability.
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CryptoCurrency
Wall Street Bitcoin Miner Taps Institutional Investor for £6.5 Million Capital Boost
2024-07-30T09:53:06.678+02:00
Argo Blockchain raised new funds through a private share placement.
The publicly-listed Bitcoin mining company will use the money for debt repayment.
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CryptoCurrency
Bitcoin Miner from Wall Street Plans to Double Revenue with New Hydroelectric Data Center
2024-07-29T11:34:50.097+02:00
HIVE Digital Technologies plans a 100MW Bitcoin mining facility in Paraguay.
The company aims to boost its revenues by increasing the hash rate to 12.1 EH/s.
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CryptoCurrency
Crypto Miner HIVE Sees 8% Revenue Growth, Expands into AI Computing
2024-06-25T14:12:30.878+02:00
The company improved its financial performance after a weak year for digital assets.
HIVE expanded its mining capacity and diversified into high-performance computing to focus on AI.
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CryptoCurrency
Tether Throws Hat in Ring with $100 Million Bitdeer Investment
2024-05-31T17:34:58.678+02:00
The investment includes an option for an additional $50 million in shares within a year.
The ownership percentage remains undisclosed, with Bitdeer's share value increasing by 6.5% post-announcement.
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CryptoCurrency
Texas Regulator Halts Alleged Crypto Cloud Mining Scheme
2024-05-29T13:01:48.544+02:00
Payment processor used despite jurisdiction restrictions; account holder located outside the claimed base.
Manipulated media, including CEO video at conference, were cited; no evidence of presence was found.
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CryptoCurrency
Crypto Miner Argo's Strategy Pay Off in Q1 2024 with Reduced Losses
2024-05-23T09:01:36.449+02:00
Miner increased revenue by almost 50% and decreased net loss compared to the previous year.
The company mined 319 Bitcoins during the quarter, averaging 3.5 BTC per day.
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CryptoCurrency
Bitcoin Miner Hut 8 Gains Momentum: Shares Surge as Coverage Begins
2024-04-22T16:57:03.011+02:00
Initiating coverage with a buy rating, the firm sees shares rise 5.2% to $8.47.
The firm holds the second-largest reserve of bitcoins among listed miners, totaling 9,102 as of March 31.
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CryptoCurrency
Norway to Regulate Energy-Intensive Crypto Mining Activities
2024-04-15T18:34:22.746+02:00
Crypto mining operators will need to register and disclose services in the country.
The proposed regulation targets the sector due to environmental concerns.
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CryptoCurrency
Bitcoin Production and HIVE Shares Decline despite BTC Price Records
2024-03-06T14:24:24.410+02:00
Although the company continues to expand its crypto holdings, monthly production numbers have fallen.
However, the miner's HODL position grew 10%, reaching 2,131 BTC by the end of February.
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CryptoCurrency
Argo Crypto Miner Chops Galaxy Debt by 60% in $6.1M Deal
2024-03-05T11:20:56.253+02:00
The cryptocurrency miner aims to strengthen its balance sheet by reducing debt burden.
Despite BTC prices jumping in February, the company reported another drop in production.
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CryptoCurrency
Abu Dhabi's First Crypto Miner Shows Initial Report Following $370M IPO Success
2024-02-15T11:15:32.319+02:00
Phoenix Group UAE reported a jump in net income of 50% despite visibly lower revenues.
Crypto assets growth and a one-time contract boosted company's earnings.
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CryptoCurrency
Canadian Court Backs Regulations against Crypto Mining in Latest Ruling
2024-02-06T15:43:55.364+02:00
The ruling affects the energy and crypto industries.
Justice Michael Tammen said BC Hydro's 18-month moratorium was reasonable.
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CryptoCurrency
Bitcoin Winter Hits Argo: A Look into Its Sluggish Start in 2024
2024-02-05T11:23:27.633+02:00
Argo Blockchain's Bitcoin mining fell 20% in January 2024 due to reduced BTC prices.
This translated into a revenue decline to $5.3 million last month.
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CryptoCurrency
OKX Halts Mining Pool Services, Registration Closes on January 26
2024-01-26T16:36:28.868+02:00
Registration for new users ends on January 26, 2024.
All crypto mining services on the exchange will cease on February 26.
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CryptoCurrency
Argo Blockchain Excels in Bitcoin Production, Announces COO Exit
2024-01-08T10:31:05.790+02:00
The company's mining strongly rebounded from this year's lows.
Meanwhile, it secures £7.8m in funding and bids farewell to the COO.
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CryptoCurrency
HIVE Digital Technologies Ramps Up Bitcoin Mining, Hits 276.3 BTC in November
2023-12-07T11:10:56.144+02:00
Compared to October, the mining output rose 5.4%.
In addition, the company acquired a Swedish data center and is shifting its focus to AI and HPC.
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CryptoCurrency
Phoenix Soars in Abu Dhabi Market Debut amid Crypto Surge
2023-12-05T10:41:34.493+02:00
The first crypto company successfully debuted on the ADX.
However, this move occurs as other miners are shifting from crypto to AI.
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CryptoCurrency
Hut 8’s Revenue Tumbles 46% amid Bitcoin’s Rising Challenges
2023-11-15T10:54:48.331+02:00
Hut 8 Mining Corp. sees a dip in Q3 revenue to $17 million.
The reason is the lower mining output caused by increasing network difficulty.
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