Category: Bitcoin mining

Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the […]

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Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors

The Texas-based Blockcap Incorporated revealed the blockchain and mining firm has mined approximately 544 bitcoins during the first quarter of 2021. Blockcap says the $33 million worth of bitcoin stems from the firm’s fleet of 12,176 mining rigs. Blockcap Rakes in 544 Bitcoins During the last three months, bitcoin (BTC) markets have seen phenomenal gains […]

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Bitcoin Price Primed For a Leg Up as Demand and On-Chain Data Favorable, Analysis

Although bitcoin’s price continues to struggle at $60,000, on-chain data indicates several bullish developments for the primary cryptocurrency. Institutional investors have only intensified their purchases, long-time HODLers and miners refuse to sell, and the BTC stored on exchanges keeps declining. On-Chains Data Suggests Skyrocketing BTC Demand As CryptoPotato reported before, the number of bitcoins held […]

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Bitcoin mining hosting firm BitRiver issues energy-backed tokens to raise $35 million

Russia-based BitRiver has rolled out an ERC-20 token to pre-sell the energy capacity of its bitcoin mining colocation facilities. The bitcoin mining farm operator said in an announcement on Monday that it’s raising $35 million through the pre-sale of 100 million BitRiver Tokens (BTR) with each representing one watt-hour of the low-carbon energy at its […]

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Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million

The Shanghai-based online game operator, The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9’s binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company […]

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Texas Bitcoin Mining Swells- Riot Purchases Mining Site for $650M, Blockcap Establishes HQ in Austin

The Lone Star State of Texas is solidifying its role as a bitcoin mining and blockchain hub. This week two major bitcoin mining companies established operations in Texas. The company Riot Blockchain purchased a mining site in Rockdale and the bitcoin mining firm Blockcap announced establishing headquarters in Austin. Blockcap Sets Up Headquarters in Austin, […]

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Bitmain Sells 42,000 S19 Antiminers to Riot Blockchain

Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in […]

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Bitcoin mining firm Riot Blockchain to acquire rival Whinstone for $651 million

Nasdaq-listed bitcoin mining firm Riot Blockchain is set to acquire rival Whinstone for $651 million. Announcing the news on Thursday, Riot said it has signed a definitive agreement with bitcoin mining hosting facility Whinstone for the deal, a mix of cash and stock. Riot will pay Whinstone owner Northern Data $80 million in cash and […]

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