Tag: Mining

Iran Finds Scapegoat In ‘Easy Victim’ Bitcoin as Officials Shut Down 1,600 Mining Farms

Iran Finds Scapegoat In ‘Easy Victim’ Bitcoin as Officials Shut Down 1,600 Mining Farms

As Iran experiences rolling electricity blackouts, the country’s authorities have responded to the crisis by targeting bitcoin mining farms. The sanctions-hit country’s campaign against miners has seen a total of 1,600 mining centers being shut down. This Iranian blitz on cryptocurrency miners, however, appears to contradict the country’s previous policies towards cryptocurrency mining. The Real […]

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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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Global Chip Shortages Disrupt Bitcoin Mining Rig Production: China’s Dominant Position as Hash Rate Leader Under Threat

Global Chip Shortages Disrupt Bitcoin Mining Rig Production: China’s Dominant Position as Hash Rate Leader Under Threat

The ongoing global shortage of chips that are used in the production of bitcoin mining rigs is now causing manufacturing disruptions. According to one report, these disruptions are causing a shortage of rigs on the market and subsequent price increases. Already, the report suggests that the prices of new mining rigs have doubled while second-hand […]

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NASDAQ-Listed Bitcoin Mining Company Faces Lawsuit on Defrauding Investors

Bit Digital – a NASDAQ-listed company, is to face a class-action lawsuit. A recent report by J Capital Research alleged the Bitcoin mining firm in “fake cryptocurrency business.” Impossible to Operate 22,869 Bitcoin Miners in China Bitcoin mining company Bit Digital is facing a class-action lawsuit on allegations of fraud and misleading its clients. According […]

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Nasdaq-Listed Crypto Firm Sued, Accused of Defrauding Investors With Fake Bitcoin Mining Business

Nasdaq-Listed Crypto Firm Sued, Accused of Defrauding Investors With Fake Bitcoin Mining Business

A class-action lawsuit has been filed against a Nasdaq-listed bitcoin mining company. The suit cites a report claiming that the business is “completely fraudulent,” with nonexistent bitcoin mining operations. Lawsuit Alleges Crypto Firm’s Bitcoin Mining Business Is ‘Completely Fraudulent’ A class-action lawsuit was filed on Wednesday in the Southern District Court of New York against […]

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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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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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