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Bitfarms Fires CEO Geoffrey Morphy Following $27 Million Lawsuit
13.5.2024
Bitfarms has ousted its CEO Geoffrey Morphy after he filed a $27 million lawsuit against the Bitcoin miner, the Toronto-based firm announced Monday. News of Morphy's ousting comes amidst decreased Bitcoin production values for public crypto mining companies following last month's halving event.
The...
Public Mining Companies Experience Production Decline of 6-12% in April Post-Halving
7.5.2024
Public mining companies have reported decreases in Bitcoin production ranging from 6% to 12% for the month of April following the halving event.
The post Public Mining Companies Experience Production Decline of 6-12% in April Post-Halving appeared first on Cryptonews
Bitcoin Mining Stocks Plummet as Miners Face Reduced Revenue Post Halving
17.4.2024
Bitcoin mining companies are experiencing a significant decline in their stock prices as they face reduced revenue due to an upcoming code update for the largest cryptocurrency.
The post Bitcoin Mining Stocks Plummet as Miners Face Reduced Revenue Post Halving appeared first on Cryptonews
Paraguayan Senate Supports Selling Power to Crypto Mining Companies, Criticizes Subpar Energy Agreements With Brazil
13.4.2024
The Paraguayan Senate has approved a resolution supporting selling the country’s energy surplus to crypto mining companies, given the price and guarantees that these institutions offer. The declaration criticizes the subpar agreements that sell energy to Brazil for 25% of the fees collected...
Australian Crypto Mining Companies Collapse into Liquidation Owing 450 Investors
12.4.2024
ASIC launched civil proceedings against three crypto mining firms, collectively known as NGS Companies, including its directors.
The post Australian Crypto Mining Companies Collapse into Liquidation Owing 450 Investors appeared first on Cryptonews
Nasdaq-Listed Bitcoin Mining Companies Bounce Back From Recent Downturn
9.3.2024
Following a dynamic period of activity in the crypto market on Friday, stocks of publicly traded mining companies have recovered from their recent decline. In the last five days, Marathon Digital Holdings’ stock fell over 15%, yet on Friday, it experienced a 7.71% increase in value against...
US Gets Serious About Tracking Crypto Mining Electricity Usage
1.2.2024
A US government agency responsible for managing energy-related data is going after crypto-mining companies over their power consumption. The Energy Information Administration (EIA) said on Wednesday that it will collect electricity consumption data from identified US-based crypto mining companies...
Many Bitcoin Miners Struggle to Make Profits: Cantor Fitzgerald
26.1.2024
Bitcoin mining is getting less profitable as many publicly traded miners might face potential profitability challenges following the next Bitcoin halving event. According to a recent report by Cantor Fitzgerald, 11 major mining companies, including Marathon Digital (MARA), Riot Platforms (RIOT)...
Public Crypto Mining Firms Dropped Double Digits After Bitcoin’s Largest Decline in Four Months
12.12.2023
Source: Adobe/artiemedvedev Crypto mining firms have seen double-digit drops after Bitcoin (BTC) experienced its most significant decline in nearly four months. Over the weekend, the value of Bitcoin plummeted to as low as $40,000 after reaching a high above $43,900, causing a ripple effect across...
Crypto Miners Blame ‘Exorbitant Taxes’ for Kazakhstan Exodus
2.10.2023
Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry. Miners...
Bitcoin Miner Genesis Digital Assets Opens 3 New Data Centers in South Carolina
2.8.2023
Genesis Digital Assets (GDA), one of the world’s largest bitcoin mining companies, has opened three new data centers in the western region of South Carolina. The facilities represent GDA’s continued expansion in the United States, where its data centers now account for over 2%...
Mawson Infrastructure Group Deploys 2,600 Bitcoin Miners at Newly Secured Pennsylvania Site
6.7.2023
Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, announced on Thursday that it has acquired a new mining site in Bellefonte, Pennsylvania. The company detailed that it has swiftly deployed 2,600 bitcoin miners at the location. Mawson Secures Pennsylvania Site, Deploys 2,600...
8 ways crypto mining companies can effectively embrace ESG practices
6.7.2023
Smart ESG practices can help crypto mining companies be more responsible members of the global community and attract new investors
Russia Expands Its Crypto Mining Capacity, Report Reveals
5.2.2023
The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major...
Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs
31.1.2023
The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan...
Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50%
27.1.2023
Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power...
Bitcoin Mining Companies Need to Better Manage Risk
13.1.2023
Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees
7.1.2023
Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy....
What Will It Take for Bitcoin Mining Companies to Survive in 2023?
1.1.2023
Some miners have held onto the bitcoin they mined, opting instead to finance operations with debt and other capital, which works really well – until it doesn’t
Public Bitcoin mining companies plagued with $4B of collective debt
24.12.2022
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market