Hut 8 Corp. has launched American Bitcoin Corp, a majority-owned subsidiary designed to focus on industrial-scale Bitcoin mining and reserve development. This move follows the crypto mining company’s strategic decision to contribute nearly all of its ASIC miners to American Data Centers, Inc. in return for a majority stake in the company. The company, initially […]
Broader economic concerns, including recession fears and stubborn inflation, have rattled the crypto market, leading to a sharp downturn. Bitcoin has struggled under these conditions, which, in turn, has forced miners to sell more BTC to sustain operations. As a result, increased selling pressure from miners has compounded market instability. Miners Offload BTC to Cover […]
A Bitcoin mining pool is a group of miners who combine their computational (hash) power to boost their chances of mining new blocks. To explain more simply, the miners connect the mining hardware at the pool’s server rather than creating your own. Moreover, the pool rewards are distributed among participants based on how much hash […]
Popular Bitcoin mining and digital infrastructure company Riot Platforms announced record-breaking financial results for the year 2024, as a result of a significant increase in mining revenue and strategic acquisitions. The company, listed on Nasdaq, reported $376.7 million in total revenue in 2024, which was up over 34% from 2023’s $280 million, despite challenges in […]
The U.S. Bitcoin mining industry has generated over 31,000 jobs and contributed more than $4.1 billion in gross product annually. According to a report by The Perryman Group, most of the industry is concentrated in twelve states, with Texas being the largest contributor. Economic and Social Benefits The study shows that Bitcoin mining in Texas generates […]
Malaysia was rocked by an unexpected discovery on Tuesday when an explosion and billowing smoke from a house along Lorong Cekara Purnama, Bandar Puncak Alam, led authorities to uncover an illegal bitcoin mining operation. The latest development comes as the Southeast Asian country continues to battle unauthorized crypto mining, which has caused significant financial losses […]
Bitcoin mining hardware is facing increased scrutiny from US officials. Recent seizures at entry points hint at a broader enforcement push that could impact major manufacturers and miners alike. At the request of the Federal Communications Commission (FCC), US Customs and Border Protection (CBP) has been seizing bitcoin mining ASICs at ports of entry across […]
As bitcoin (BTC) continues to trade a few thousand dollars below $100,000, miners are struggling to run their operations, and as a result, most of them are capitulating. A report by CryptoQuant analyst Darkfost revealed that the Hash Ribbons metric, an indicator that tells the health of the Bitcoin network by tracking hash rate fluctuations, […]
A Bitcoin miner has successfully mined Block 883,181, securing a reward of approximately $310,000. The miner, who operated independently without the backing of a major mining company, solved the cryptographic puzzle required to validate transactions and add a new block to the Bitcoin blockchain. The Mining Method Crypto journalist Pete Rizzo first reported the rare […]
Coinbase stands as the largest publicly traded blockchain company, with a market cap of $71.2 billion as of February 8, 2025. This figure places it far ahead of its closest competitor, Galaxy Digital, which holds a market cap of just $6.7 billion – making Coinbase more than ten times larger. Furthermore, the exchange’s valuation has […]