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Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million
18.5.2024
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due...
EOS Network Foundation Founder: Bitcoin Halving Spurs Development of Solutions Enhancing Network Efficiency
16.5.2024
With Bitcoin transaction fees recently becoming a more critical component of miner revenue, Yves La Rose, CEO of Exsat, believes there is “an increased incentive to adopt and develop solutions that enhance transaction throughput and network efficiency.” According to La Rose, this...
Bitcoin Miner Bitfarms Enhances Paraguay Facility With New 100 MW Hydropower Deal
14.5.2024
On Tuesday, bitcoin mining company Bitfarms, listed on the Nasdaq and Toronto Stock Exchange (TSX), announced it has secured an additional 100 megawatts (MW) of power from Paraguay’s state-owned utility firm, ANDE. The 100 MW is anticipated to double the capacity of the hydro-powered Yguazu...
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...
Bitcoin miner Bitfarms CEO to depart immediately in response to lawsuit
13.5.2024
Nicolas Bonta, Bitfarms co-founder and chair, will take over as interim president and CEO after Geoffrey Morphy filed a lawsuit for $27 million in damages against the mining firm
Bitcoin Miner Marathon In Talks With Kenya to Help With Its Green Energy Ambitions
13.5.2024
Kenya's President William Ruto also wants to build a regulatory framework for crypto, with Marathon's help
Bitcoin Miner Cleanspark’s Net Income Tops $126.7 Million in ‘Record-Breaking’ Quarter
11.5.2024
In the first quarter of 2024, Cleanspark, a U.S. bitcoin mining company listed on the stock market, reported revenues exceeding $111.8 million. The company’s net income for the same period was $126.7 million. Gary A. Vecchiarelli, the CFO of Cleanspark, partially attributes...
Canaan Launches Upgraded Version of Its Avalon A15 Series Bitcoin Miner
10.5.2024
Canaan Inc. has launched the Avalon A15 series, with the new product being the A1566 model. This upgraded bitcoin mining machine incorporates Canaan’s most advanced technology. The A1566 model sets a new performance benchmark with an industry-leading energy efficiency ratio of 18.5 joules...
Bitcoin Miner Marathon Digital Misses Q1 Revenue Expectation On Operational Challenges
9.5.2024
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Bitcoin miner Marathon Digital to join S&P SmallCap 600, shares jump 18%
7.5.2024
Marathon Digital will officially be added to the index fund on May 8
Here’s How Bitcoin Miners Performed Last Month After The Halving
7.5.2024
Bitcoin miners are down but not out after the halving, netting significant revenue from transaction fees last month.
The post Here’s How Bitcoin Miners Performed Last Month After The Halving appeared first on Cryptonews
Kenyan President Requests Bitcoin Miner Marathon Digital to Review Nation’s Cryptocurrency Regime
6.5.2024
The Kenyan President William Ruto recently revealed that his government has appointed Bitcoin mining company Marathon Digital as its consultant to review its cryptocurrency regime. The U.S.-based Bitcoin miner is reportedly set to discuss electricity usage in cryptocurrency mining with the Kenyan...
Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTC
3.5.2024
Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in...
Bitcoin Miner Stronghold Looking at Options, Including Sale of Company
2.5.2024
The miner is looking at options including sale of all or part of the company and other strategic transactions
Bitcoin miner Riot Platforms reports record $211M Q1 net income
2.5.2024
Riot’s net income was boosted by a 131% year-on-year increase in Bitcoin’s price despite the cryptocurrency becoming more difficult and expensive to mine
‘No signs’ of Bitcoin miner capitulation despite plummeting revenue
1.5.2024
CryptoQuant CEO Ki Young Ji said that despite a drop in Bitcoin mining revenues since the halving, Bitcoin miners haven’t shown any signs of capitulation
Bitcoin Miners Not Showing Capitulation Signs, Says CryptoQuant CEO
30.4.2024
The CEO of CryptoQuant, Ki Young Ju, described the predicament that Bitcoin miners are in after the halving on April 30. The investigator claims that miners are currently faced with a decision: they may either accept the state of the market or hold out for a possible rise in the price...
Iris Energy Boosts Hashrate to 9 EH/s Amid Declining Bitcoin Miner Earnings
30.4.2024
This week, the Nasdaq-listed bitcoin miner Iris Energy Limited announced it has boosted its hashrate to 9 exahash per second (EH/s) and aims to reach 10 EH/s in the coming month. This development follows the network’s fourth halving and occurs amid a period when Bitcoin’s hashprice...
Solo Bitcoin miner wins the 3.125 BTC lottery, solving valid block
29.4.2024
The solo miner netted around $200,000 in rewards for validating block 841,286
SEC sues Bitcoin miner Geosyn, accusing founders of $5.6M fraud
26.4.2024
The SEC alleged Geosyn Mining’s co-founders misappropriated $1.2 million of its investors’ funds, spending it on holidays, nightclubs and firearms