Tag: Bitcoin mining

More Institutional Interest: Nasdaq-Traded Marathon Invests $150 Million in Bitcoin

On Monday, Marathon Patent Group announced that it bought 4,812.66 BTC, worth $150 million, through the New York Digital Investment Group (NYDIG).  Merrick Okamoto, Marathon’s chairman & CEO, noted that the investment would help them accelerate the process of turning the company into a “facto investment choice for individuals and institutions who are seeking exposure […]

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Jihan Wu writes in coded letter that he’s officially stepping down as Bitmain chairman

Jihan Wu writes in coded letter that he’s officially stepping down as Bitmain chairman

Bitmain’s co-founder Jihan Wu has officially announced that he is stepping down from the bitcoin miner maker giant in an effort to settle down a year-long internal power struggle with rival co-founder Micree Zhan. In a coded letter dated on Tuesday and decrypted by The Block’s Igor Igamberdiev, Wu said the disagreement between Zhan and […]

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Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

Marathon Patent Group announced Monday that it bought 4,813 bitcoins in a deal worth $150 million. The firm joins the growing list of publicly listed companies holding bitcoin in their treasuries. Merrick Okamoto, chairman and chief executive officer of Marathon, said the Nasdaq firm is buying bitcoin (BTC) as a reserve asset. “We…believe that holding […]

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While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine Bitcoin

While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine Bitcoin

At the end of January 2021, Bitcoin’s network mining difficulty, a measure of how complicated it is to mine a block reward, is higher than it’s ever been during the crypto protocol’s lifetime. Currently, Bitcoin’s mining difficulty is a whopping 20.8 trillion but despite the handicap, bitcoin miners have continued to keep the network’s hashrate […]

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Nasdaq-listed Marathon Patent Group buys $150 million worth of bitcoin as part of the company’s treasury reserves

Nasdaq-listed Marathon Patent Group buys $150 million worth of bitcoin as part of the company’s treasury reserves

Nasdaq-listed Marathon Patent Group announced Monday that it has purchased around 4,813 bitcoin for about $150 million in total. The investment is part of the company’s treasury funds, Marathon CEO Merrick Okamoto told The Block. This is the first time the company, which itself is into bitcoin mining, has bought bitcoin from the market. “By […]

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Hut8 borrows ~$12M from DCG’s Foundry to order new bitcoin miners

Hut8 borrows ~$12M from DCG’s Foundry to order new bitcoin miners

North American bitcoin mining farm operator Hut 8 has said it is borrowing $11.8 million from Digital Currency Group’s mining subsidiary Foundry to expand its mining operations. The Canada-listed firm said in an announcement Friday that it is using the loans to order 5,400 units of MicroBT’s WhatsMiner M30S model. Hut8 said the first batch […]

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Bitcoin Mining Difficulty Rises to ATH amid Market Wide Shortage of Mining Chips

Bitcoin mining difficulty has peaked to a new all-time-high almost for the first time in three months when the bitcoin bull run started towards the end of October 2020. The low bitcoin mining difficulty throughout the bull run suggests that there was less pressure on miners as the rising price compensated for them. 📈 #Bitcoin […]

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Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Another U.S. county is facing troubles related to crypto mining activities within its territory. This time, the second-largest county in Montana is the protagonist of the story, who will look forward to revisiting local zoning for mining operators. Authorities to Decide on Making Current Rules Permanent According to KPAX, Missoula County authorities seek to hold […]

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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power. ● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s […]

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Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin mining revenue for January has already surpassed December’s total, reaching the highest level seen since January 2018. According to data collected by The Block, bitcoin miners have generated $728.71 million as of January 20. By comparison, bitcoin miners brought in roughly $692 million in December, as previously reported.  Underpinning these revenue figures is the […]

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