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…
Two of the largest public Bitcoin miners — Marathon Digital and Riot Platforms — recorded their highest monthly Bitcoin production since the April halving event, despite the industry’s ongoing challenges with rising mining difficulty. On Nov. 4, Marathon Digital announced that it boosted its Bitcoin production by 2% to 717 BTC in October, marking its strongest…
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…
Riot Platforms CEO Jason Les revealed substantial interest from “blue-chip” companies looking to partner with the Bitcoin miner on AI and high-performance computing (HPC) initiatives. Speaking during the Oct. 30 earnings call, Les explained that the company has received numerous inbound offers to secure large-scale power capacity. The\ inquiries come from highly credible, financially stable…
October 19, 2024 at 04:55 AM GST updated: October 19, 2024 at 12:52 AM 2 mins read News Bitcoin’s surge to $68,490 marked its highest price since July, driving gains in crypto stocks like MicroStrategy and Coinbase. The “Fear and Greed” index climbed to 73 points, signaling increasing confidence in the crypto market amid Bitcoin’s…
Bitfarms Ltd. and Riot Platforms Inc. have recently signed a settlement agreement ending the earlier corporate conflict. This follows Riot Platforms buying a 9.25% stake in Bitfarm, making the company its largest shareholder. As provided for in the new agreement, Bitfarms co-founder, Andrés Finkielsztain, resigned from the board of directors. The settlement helps both companies…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Bitfarms and Riot Platforms, two notable Bitcoin mining firms, say they have settled on Riots’ takeover attempt. In a statement jointly signed by the two mining companies, the terms of the agreement were clarified to avert any misunderstandings. Bitfarms Leadership Changes and Board Reconfiguration As per the settlement, Andres…
Riot Platforms and Bitfarms have resolved their dispute following a settlement agreement detailed in a joint announcement on Sept. 23, 2024. The agreement, which was filed with the U.S. Securities and Exchange Commission (SEC), comes ahead of Bitfarms’ special shareholder meeting on Nov. 6, 2024. Riot Withdraws Bid to Restructure Bitfarms’ Board in Settlement Deal…
September 22, 2024 at 06:23 AM GST updated: September 21, 2024 at 01:13 PM 2 mins read News Marathon Digital’s hash rate grew by 142% in Q1 2024, driving a 223% revenue increase to US$165.2 million. Marathon Digital plans to double its hash rate to 50 EH/s by the end of 2024 through new ASIC…
Bitcoin mining firm Bitfarms has responded to Riot Platforms’ allegedly misleading statements about a special meeting and potential acquisition. Bitfarms claimed that Riot refused to engage constructively and is attempting to buy Bitfarms at a discount for its own shareholders’ benefit. The board will review Riot’s proposal but shareholders do not need to take any…
Riot Platforms has intensified its efforts to acquire rival Bitcoin miner Bitfarms by issuing an open letter to the firm’s shareholders on Sept. 3. In the letter, Riot announced that it had lowered its request for board seats at Bitfarms to two independent directors following recent removals while also criticizing several of the company’s recent decisions….
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin….
Bitcoin miner Bitfarms said it has entered into a merger agreement to acquire Stronghold Digital Mining for $125 million in equity value, alongside $50 million in assumed debt. In a joint Aug. 21 statement, both companies revealed that their Boards of Directors unanimously approved the transaction. The deal—subject to regulatory approval and other conditions—is expected…