Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining […]
The US Customs and Border Protection (CBP) is holding specific imports of Antminer ASIC miners at various ports across the country. Seven US-based bitcoin mining companies, who spoke anonymously, claimed that the Federal Communications Commission (FCC) had directed the CBP to hold certain deliveries of Bitmain ASIC miners. Interestingly, other Chinese producers of ASIC mining […]
Following Donald Trump’s presidential victory and his promise to establish a strategic Bitcoin reserve, momentum has surged around the idea of integrating Bitcoin into the nation’s economic and geopolitical strategy. In the latest development, crypto miner MARA Holdings has urged the United States to aggressively pursue leadership in the sector and in Bitcoin mining, positioning […]
In a settlement with US authorities, BIT Mining agreed to pay $10 million in penalties related to bribery allegations involving Japanese government officials to secure a resort license. The company, which operates in the Bitcoin mining sector, admitted to violating the Foreign Corrupt Practices Act (FCPA) by conspiring to pay bribes and falsifying records. As […]
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 […]
Bitcoin mining firm TeraWulf has sold its 25% stake in the Nautilus Cryptomine joint venture to its partner, a subsidiary of Talen Energy, in a deal worth about $92 million. The company plans to use the funds to expand its operations at the Lake Mariner facility, including building the 20 MW CB-1 operation for hosting […]
Swan Bitcoin has sued several former employees, accusing them of illegally taking highly prized components of its BTC mining business. Filed on September 25, the lawsuit claims these executives, now running Proton Management, conspired to misappropriate Swan’s intellectual property and secured funding from Tether to create a “counterfeit competitor.” Rain and Hellfire Plan The court filing […]
Bitcoin’s price may not look exciting this month, but the network’s total hash rate has returned to logging regular new all-time highs. The divergence between security and price is a sign that Bitcoin mining firms are happy to continue installing new computer hardware, even amid uncertain business/ market conditions. Bitcoin’s Unrelenting Hash Rate According to […]
The Bitcoin hash price, a metric measuring miner revenue per terahash or computing power, has fallen to its lowest level ever. According to recent data, this is a sign of upcoming bullish momentum. A Quicktake by CryptoQuant analyst Woominkyu revealed that the current level of the bitcoin hash price indicates a good buying opportunity. A […]
Thailand’s law authorities recently raided a house occupied by a company running Bitcoin mining operations. According to the South China Morning Post’s coverage, the illegally operated Bitcoin mining activities triggered frequent power outages in the vicinity for over a month. Illegal Bitcoin Mining Operations Bitcoin, the leading cryptocurrency, uses a proof-of-work (PoW) consensus mechanism. This […]