Core Scientific is converting its cryptocurrency mining campus in Denton, Texas, into a $6.1 billion data center hub for artificial intelligence (AI) workloads, signaling a shift in its business strategy amid increasing demand for AI-driven computing. Core Scientific’s Denton Campus to Host $6.1 Billion AI Project Core Scientific’s (Nasdaq: CORZ) revised lease agreements and power…
In an effort to tackle electricity shortages, Russian officials disclosed plans to suspend cryptocurrency mining in several regions this winter. The ban will impact the Irkutsk region, portions of Buryatia, the Zabaikalsky region in Siberia, and six North Caucasus areas, including Chechnya and Dagestan. Mining will also be prohibited in the Russian-controlled Ukrainian regions of…
Canaan Inc., a publicly listed manufacturer of bitcoin (BTC) mining hardware and blockchain infrastructure provider, has shared plans to broaden its self-mining footprint in North America. Publicly Listed Bitcoin Miner Canaan Bolsters U.S. Presence The announcement published on Wednesday says Canaan (Nasdaq: CAN) aims to reach a computing capacity of 10 exahash per second (EH/s)…
Compass Mining is constructing a new Bitcoin mining facility in Iowa, aiming to expand its self-owned infrastructure portfolio in the United States. Compass Mining’s Iowa Expansion Highlights Growing U.S. Presence Compass Mining has announced the development of a bitcoin mining facility on a five-acre site in Iowa. The company plans to energize eight megawatts (MW)…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Bitcoin mining, a pivotal component of the crypto ecosystem, is experiencing a significant uptick in profitability during the first half of November. According to a report by JPMorgan’s analysts, mining profitability has surged due to a combination of factors. The rise in profitability highlights a shift that could impact…
On-chain data shows the Bitcoin Hashrate has seen a setback recently, a potential indication that miners may not believe the asset’s run would last. Bitcoin Mining Hashrate Has Declined Since Its All-Time High The “Hashrate” refers to a metric that keeps track of the miners’ total computing power currently attached to the Bitcoin network. This…
HODL15Capital reveals top Bitcoin holdings by public mining companies, led by MARA with 27,562 BTC. Marathon Digital explores diversification into AI and computing while miners face rising challenges like increasing Bitcoin mining difficulty. Recent data provided by HODL15Capital shows the notable Bitcoin holdings of some publicly traded mining companies as of November 15. With an…
Hive Mining, a data center and crypto mining company, gave an update on the construction of a Paraguayan bitcoin mega mining site that will host 100MW of mining hardware. The company also revealed a purchase of nearly $20 million in mining ASICs to revamp its current equipment. Hive Doubles Down on Paraguayan Mining Bet, Announces…
It was somewhat inevitable that bitcoin will eventually retrace after it skyrocketed by more than $25,000 in about a week to tap a fresh all-time high of $93,800 on Wednesday. Here are some of the potential reasons why the asset tumbled from $92,000 on Thursday to under $87,000 on Friday morning. Bitcoin/Price/Chart 15.11.2024. Source: TradingView…
It didn’t take long for bitcoin to resume its bull run and spike above $90,000 to chart a fresh all-time high, this time at roughly $92,000. This comes despite some reports indicating that BTC miners have started to take profits to cover certain expenses. There’s a lot going on with BTC’s price in the past…
Singapore-based cloud mining service Bitfufu has obtained a $100 million credit line from Antpool Technologies, intended to reinforce its bitcoin holdings. Antpool Backs Bitfufu With $100 Million Credit Agreement In a move reflecting Bitfufu‘s ambitious growth goals, the cryptocurrency mining company entered into a two-year Master Loan Agreement (MLA) with Antpool Technologies. Under this arrangement,…
November 12, 2024 at 02:10 PM GST updated: November 12, 2024 at 11:34 AM 2 mins read News Nano Labs now accepts Bitcoin via Coinbase, enhancing payment flexibility for tech-savvy clients worldwide. Nano Labs’ Bitcoin adoption signals a potential shift in China’s crypto stance, aligning with global trends. With Bitcoin payments, Nano Labs aims to…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 HIVE Digital is developing its game in the Bitcoin mining sector using a dual strategy. The global crypto miner leader has recently secured a major deal with Canaan Creative Global (CCG), the Singapore-based subsidiary. Under the new agreement, CCG will supply HIVE with 6,500 Avalon A1566 miners. This move…
Mine one Bitcoin is now more difficult as the mining difficulty metric crossed 100T. Bitcoin has a higher price valuation than it currently showcases per MVRV data. Bitcoin’s mining difficulty recently increased by 6% to an all-time high of 101.65 trillion amid a record hash rate for the network. This move coincides with bullishness from…
Jack Dorsey’s payments and blockchain infrastructure company, Block Inc., is shifting its focus to develop new tools for Bitcoin miners and enhance its self-custody crypto wallet. According to the latest shareholder letter, the firm plans to reduce its investment in TIDAL, Jay-Z’s former music streaming platform, while also winding down TBD, its Bitcoin-focused unit that…
Bitcoin miner Hive Digital reported modest growth in bitcoin production for October, while advancing its mining capacity and infrastructure. Hive Digital Discloses Modest Bitcoin Output Gains Vancouver-based Hive Digital (Nasdaq: HIVE) reported incremental growth in its bitcoin production for October, maintaining consistent operational metrics while advancing its mining infrastructure. The publicly listed mining firm, which…
Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a commitment to the cryptocurrency sector and its infrastructure needs, according to its recent third-quarter shareholder letter. Block’s New Investment Focus on Bitcoin Mining Infrastructure In a letter to shareholders, Block identifies bitcoin mining as a key growth path, driven…
November 8, 2024 at 05:15 PM GST updated: November 8, 2024 at 01:22 PM 2 mins read News Galaxy Digital pivots to AI, targeting new revenue amid rising Bitcoin mining challenges. Bitcoin miners adopting AI could boost profits, with potential $14B in gains by 2027, says VanEck. Galaxy’s Q3 report shows 27% drop in BTC…
Jack Dorsey’s Block shifts focus to Bitcoin mining hardware. Q3 revenue of Block falls short at $5.98 billion in revenue. Jack Dorsey’s payment venture, Block, formerly Square, is making strides in its commitment to Bitcoin mining and its self-custody wallet, Bitkey. In its Q3 2024 shareholder letter, the firm mentioned the demand for its mining…
BitFuFu’s Bitcoin mining costs increased significantly in Q3, impacting production levels and profitability. The new Ethiopia facility aims to boost BitFuFu’s capacity, offsetting operational challenges in Bitcoin mining. BitFuFu Inc., a cloud mining company funded by Bitmain, has encountered severe hurdles in its Bitcoin mining activities, as detailed in its Q3 2024 financial report. The…
After last week’s turbulent period, publicly traded bitcoin mining companies rebounded on Wednesday, celebrating a strong performance as Trump clinched the White House. Bitcoin Mining Stocks See Explosive Gains On Nov. 6, bitcoin mining stocks rallied, riding high alongside bitcoin, which hovered at $74.6K by 9:40 a.m. ET on Wednesday. MARA Holdings (MARA), boasting the…
Bitcoin mining company Riot Platforms reported a 23% increase in bitcoin production in October, driven by increased hashrate and operational efficiency. Riot’s Latest Financial Update Bitcoin mining giant Riot Platforms (Nasdaq: RIOT) recently announced that it mined 505 bitcoins (BTC) in October, a 23% jump from the 412 bitcoins mined in September. In the same…
What is the true cost of producing one Bitcoin? A fresh report from Coinshares revealed some interesting findings, underscoring the rising mining difficulty and the potential impact on miners. Bitcoin halving events carry a lot of significant and this year’s having was particularly notable. This is because it was characterized by a surge in mining…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 In a strategic partnership, Deutsche Telekom subsidiary MMS and Bankhaus Metzler are embarking on an eco-driven journey. This project aims to transform surplus renewable energy into digital value. This pilot project explores a novel way to use excess energy from renewable sources like solar and wind power for Bitcoin…
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits…
With BTC’s value nearing its all-time high of $73,700 a few days ago, Bitcoiners seemed poised to see a new price high for their favorite crypto asset. Even Bitcoin miners are not left out in the anticipation. A CryptoQuant report confirms that the network’s mining difficulty and hash rate have unlocked new heights. This record…
It’s been a rough week for bitcoin mining stocks, as nine out of the top ten publicly listed miners have seen declines ranging from 2.07% to 19.65%. This Week Applied Digital Leads Declines in Bitcoin Mining Sector, Hut 8 Only Gainer With just two days to go before the U.S. election, crypto markets are heating…
Bitcoin mining firms face rising costs, pushing them to diversify revenue sources by incorporating AI and high-performance computing services. Russia enforces strict crypto mining laws, allowing only registered entities and tightening regulations to curb financial crimes. CoinShares report reveals a significant breakthrough in the Bitcoin mining business. Second-quarter cash flow data shows that the average…
Bitcoin mining firm Riot recorded $84.8 million in revenue in the third quarter of 2024, representing a 65% increase over the same quarter in 2023. This growth can be attributed to the 159% year-over-year increase in deployed hash rate which reached 28 EH/s by the end of the quarter. Riot’s Q3 Financial Results According to…
Ever wondered how U.S. presidential elections impact the stock market? We explore historical trends, stock market predictions, and Bitcoin price movements under different administrations. The following guest post comes from Bitcoinminingstock.io, providing comprehensive data, in-depth research, and analyses on Bitcoin mining stocks. Originally published on Oct. 30, 2024, it was penned by Bitcoinminingstock.io author Cindy…
October marked a bullish month for many crypto assets and their ecosystems but not for Bitcoin (BTC) miners. Earlier, JPMorgan released a report that provided insight into October’s Bitcoin mining revenue outlook and other metrics. Accordingly, daily Bitcoin mining revenue and gross profit dropped for the fourth consecutive time. Bitcoin Miner Revenue Outlook JPMorgan’s estimate…
Canaan Inc. announced a new agreement to deliver 3,800 Avalon A1566I miners to Cleanspark Inc., a publicly listed bitcoin mining and energy technology firm. A New Deal Between Canaan and Cleanspark According to the announcement, the bitcoin miners, set to run at 249 terahash per second (TH/s) without overclocking, are configured for immersion cooling—a technique…
Bitcoin (BTC) showed signs of a possible rally as its price benefited from positive trends in critical metrics, sparking optimism among investors. The recent rise in the Bitcoin Puell Multiple above 1.00 marked an important shift. This is historically in alignment with new all-time highs for BTC following previous post-halving cool-off periods. This metric, which…
Sazmining, a green Bitcoin mining company with operations in Wisconsin and Paraguay, aims to improve the heating business using mining as a key element. The company reported that it is currently working on substituting the traditional petrol-based heating elements of a building for a system that recycles the heat produced by bitcoin miners in a…
Coinshares’ Q3 mining report, led by researcher James Butterfill, highlights mounting costs and challenges impacting the bitcoin mining industry in 2024. How Bitcoin Mining Industry Giants Are Battling Rising Prices The Coinshares Q3 mining report, with research led by James Butterfill, reveals that bitcoin mining costs are rising, reaching an estimated $49,500 per bitcoin (BTC)…
Russia is moving to ban cryptocurrency mining in energy-restricted regions, citing severe power shortages that could jeopardize long-term stability until 2030. Crypto Miners Face a Major Blow in Russia’s Energy-Restricted Zones Russian Deputy Energy Minister Yevgeny Grabchak has stated that digital currency mining will soon be banned at the state level in several Russian regions…
The Royal Government of Bhutan has made a significant move by depositing 929 BTC into crypto exchange Binance. The activity was flagged shortly after BTC climbed above $70,000 for the first time since June 10. Bitcoin Transfer to Binance In its latest tweet, Lookonchain cited data from Arkham Intelligence, which revealed that the Bhutan government-linked…
Bitcoin (BTC) has struggled below the $70,000 price for over four months. Even the much-lauded “Uptober” failed to bring it above it for quite a while, until yesterday. However, a CryptoQuant analyst projects that the current metric on the Miners’ Position Index (MPI) will significantly aid Bitcoin’s price gain to incredible heights between this year’s…
Bit Digital is strategically navigating the post-halving era, opting for HPC opportunities instead of expanding hash rate at any cost. With a focus on generating predictable revenue, could BTBT emerge as the next dark horse among Bitcoin mining stocks? Analyzing Bit Digital’s (BTBT) Approach to Bitcoin Mining and HPC Diversification The following guest post comes…
Discover how Bitcoin mining companies are navigating operational efficiency amid global layoff trends by examining their G&A expenses relative to revenue. Analyzing the Operational Efficiency of Mining Firms Like MARA, CLSK, RIOT, and Other Top Miners The following guest post comes from Bitcoinminingstock.io, the one-stop hub for all things bitcoin mining stocks, educational tools, and…
October 24, 2024 at 01:50 PM GST updated: October 24, 2024 at 11:48 AM 2 mins read News Bitcoin mining difficulty rises to 95.67T, marking a 27% increase in 2024, challenging small miners. Record high hashrate of over 700 EH/s aligns with Bitcoin’s rising mining difficulty, boosting network security. Small miners face profitability issues as…
Bitcoin’s difficulty has soared once again at block height 866,880, reaching a record-breaking 95.67 trillion. Meanwhile, the network’s computational power is keeping pace, operating at a blazing 729.13 exahash per second (EH/s) at the time of reporting. In the coming days, it’ll be fascinating to watch how the combination of increased difficulty and dipping prices…
While BTC’s price has retraced from the recent Monday peak, the network’s fundamentals continue to improve, as shown by the mining difficulty. The metric that showcases how hard miners have to work to produce a block has risen to its highest level ever of 95.67T. The mining difficulty is incorporated into the world’s largest blockchain…
Northern Data, a German data center company, is considering selling its crypto mining arm, Peak Mining Frankfurt, to focus on its growing AI business. This move comes as crypto miners continue to struggle with reduced Bitcoin rewards. If the sale goes through, Northern Data plans to use the proceeds to fund the expansion its AI…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Northern Data, a top Bitcoin mining firm, is considering selling its Bitcoin mining unit, Peak Mining. According to the announcement, this development comes amid a shift in its focus toward the rapidly growing artificial intelligence (AI) market. As such, the company has initiated discussions with various interested parties regarding…
Bitriver, a Russian data mining company, has partnered with the Russian Direct Investment Fund (RDIF) to expand data center infrastructure and AI projects across BRICS countries. The goal is to boost Russia’s presence in AI and cryptocurrency mining. Both entities plan to build data centers and focus on enhancing their potential. This partnership aims to…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Revolve Labs, a prominent Bitcoin Mining company has recently announced its ambitious intentions to enhance its mining operations. The Colorado-based crypto miner has proposed a plan to construct a data center in Glencoe, Minnesota. This new facility aims to ramp up the company’s ability to process Bitcoin transactions. Revolve…
Ionic Digital has revived its plans for an initial public offering (IPO) following the appointment of BDO USA as its new auditor. The company, which is primarily involved in bitcoin (BTC) mining, also revealed that it holds 2,102.29 BTC, valued at $135.3 million as of Sept. 30, 2024. Ionic Digital Revives IPO Plan, Reports 2,102…
Este artículo también está disponible en español. On-chain data shows the Bitcoin miners have been making an unusually high number of transactions to centralized exchanges recently. Bitcoin Miner To Exchange Transactions Metric Has Just Seen A Spike As pointed out by CryptoQuant author IT Tech in a new post on X, the Miner to Exchange…
Before bitcoin’s fourth halving, the crypto asset soared to a peak of $73,794 on March 14, as recorded on Bitstamp. During the period from March 10 to April 10, bitcoin’s hashprice—representing the estimated daily earnings for 1 petahash per second (PH/s)—fluctuated between $105 and $125 per PH/s. Fast forward to this week, and as BTC…