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Top Miners Spend $1.2 Billion In Pre-Halving Machine Shopping Spree + More News
8.12.2023
Source: AdobeStock / arinahabich Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Top Miners Spend $1.2 Billion In Pre-Halving Shopping Spree UK Crypto Market Grew 137% in a Year, Surpassing...
‘Stagnant’ BTC Price and Rate Hikes Drove Down Crypto Miner Canaan Inc’s Revenues in Q3
29.11.2023
Canaan Inc, the crypto miner and mining rig producer, said the company’s overall revenue in Q3 stood at $33.3 million or some $40 million lower than the Q2 revenue. According to the company’s CEO, stagnant bitcoin prices and rate hikes by the U.S. Federal Reserve were some of the...
Crypto Miner Manufacturer Caanan Reports 48% Drop in Sales – What’s Going On?
28.11.2023
Source: Adobe / Photocreo Bednarek Canaan – a China-based Bitcoin (BTC) ASIC manufacturer and operator – lost nearly half its revenue from mining machine sales last quarter, according to its Q3 earnings. Released on Tuesday, the firm’s financial results showed just $33 million in revenue for...
Canaan secures new financing as revenue falls 55% in Q3
28.11.2023
Despite a downturn in its bottom line, the company has secured a deal with an institutional investor to potentially raise $125 million in capital
An In-Depth Analysis of 7 Advanced Bitcoin Miners From Bitmain, Canaan, and Microbt
27.10.2023
Recently, the top three bitcoin mining rig manufacturers unveiled a group of next-generation products with efficiency ratings of less than 20 joules per terahash (J/T) and powerful hashrates. In total, Bitmain, Canaan, and Microbt released seven new devices. The following provides a look at...
Microbt Debuts M60 Series in Dubai; Bitcoin Mining Rigs Boast 18.5 J/T Efficiency
25.10.2023
During the Blockchain Life 2023 event in Dubai, Microbt rolled out its latest Whatsminer M60 series, which boasts an efficiency rating of 18.5 joules per terahash (J/T). Whatsminer M60 Series Showcased in Dubai On Tuesday, at the Blockchain Life 2023 conference in Dubai, Microbt showcased three...
Ex-Chairman of Canaan Jack Kong Faces Crypto Project Hack From Insider
2.10.2023
Jack Kong, former chairman of China-based computer hardware manufacturer Canaan, has disclosed a hack of a cryptocurrency project that he has invested in.
The hacker was reportedly an insider from the crypto project and fled to Thailand following the crime. “The hacker fled to Thailand but he...
Microbt Plans to Launch Next-Gen Bitcoin Mining Machine With 1X Efficiency Rating
20.9.2023
On September 19, 2023, Microbt, the manufacturer of bitcoin (BTC) application-specific integrated circuit (ASIC) mining rigs, revealed its intentions to introduce an innovative mining machine with an efficiency rating of 1X joules per terahash (J/T). This announcement from Microbt closely follows...
Final Fantasy VII Rebirth: 14 Awesome Things We Saw In The New Trailer
15.9.2023
Final Fantasy VII Rebirth’s new trailer was undoubtedly the star of the show in Sony’s September 14 PlayStation State of Play presentation. The highly anticipated second installment of the Final Fantasy VII remake looks better than ever and damn, that trailer was packed full of fascinating...
Canaan Unveils Cutting-Edge Avalon 14 Series Bitcoin Miners
12.9.2023
At the “Avalon Bitcoin & Crypto Day” conference in Singapore, the bitcoin mining application-specific integrated circuit (ASIC) manufacturer Canaan showcased its new Avalon-made 14 series mining rigs. One of the mining machines, the A1466I, boasts an energy efficiency of fewer than...
Bitcoin to hit $100K in 2024? Canaan VP weighs up 2024 halving opportunities
12.9.2023
Canaan vice president Davis Hui believes a supply deficit following the next Bitcoin halving will drive its price past $100,000
Canaan to Launch Avalon 14 Series Bitcoin Miner With Advanced 1X J/TH Efficiency
7.9.2023
In mid-August, Bitmain revealed its intention to launch a new Antminer featuring an efficiency rating of 1X joules per terahash (J/TH). Three days after this disclosure, Canaan also announced plans to unveil a novel product but with little details. Canaan has since offered more information...
Report: Huawei’s Kirin Chip May Have Been Accelerated by Bitcoin Mining Orders
6.9.2023
A recent report by The Miner Mag suggests bitcoin mining orders might have sped up Huawei’s development of its new Kirin smartphone chip. The chip, which powers Huawei’s new Mate 60 Pro smartphone, was produced by China’s Semiconductor Manufacturing International Corp. (SMIC)...
Bitcoin Price Prediction amid Legal Victory for Grayscale and Strong Q2 Earnings for Bitcoin Miner Canaan
30.8.2023
Amidst a dynamic landscape in the cryptocurrency realm, Bitcoin's price has taken center stage.
Currently trading at $27,452, reflecting a notable 5.5% increase on Wednesday, Bitcoin's trajectory continues to capture attention.
This analysis delves into the recent legal victory achieved...
Canaan’s 2Q mining revenue jumps 43% on 1Q, but net loss climbs 31%
29.8.2023
Bitcoin mining firm Canaan posts second quarter financials, with Bitcoin mining revenue up 43% from Q1 2023, though net loss also rose 31% to $110 million
Canaan Cuts Bitcoin Mining Power by 2 EH/s Amid US, Kazakhstan Challenges
20.8.2023
Canaan, a leading high-performance computing firm and mining rig producer, recently disclosed hurdles set to dent its bitcoin mining activities and revenue from Q3 2023 onward. These setbacks primarily stem from diminished operational hours of their mining devices. This revelation comes hot on...
UK Researchers Claim New Tech Supercharges Bitcoin Mining With 260% Faster Hash Detection, Slashes Energy Use
19.8.2023
Quantum Blockchain Technologies (QBT), a research firm hailing from the U.K., purports to have spearheaded a revolutionary leap in bitcoin mining tech. They’ve unveiled certain methods that reportedly enhance the chances of pinpointing a winning hash. One such strategy, dubbed “Method...
Canaan to Debut ‘Groundbreaking’ Bitcoin Mining Product at 10th-Anniversary Singapore Event
18.8.2023
Shortly after Bitmain announced its intention to launch a new bitcoin mining rig at the 2023 World Digital Mining Summit (WDMS) in Hong Kong this September, Canaan, another mining machine giant, hinted at introducing a “groundbreaking” product poised to elevate the BTC mining sphere....
Stronghold Expands Operation With $3M Acquisition of 2,000 Canaan Bitcoin Miners
27.7.2023
Stronghold Digital Mining announced Thursday it has acquired 2,000 application-specific integrated circuit (ASIC) bitcoin mining rigs from Canaan. The new machines, costing $3 million, will be delivered to Stronghold’s Panther Creek facility in the third quarter. Stronghold Digital Mining...
Auradine Unveils Teraflux, New Line of US-Crafted Bitcoin Mining Rigs Providing Up to 270 TH/s
27.7.2023
According to a press release published July 25, 2023, Auradine, a new competitor in the blockchain infrastructure sector, is entering the application-specific integrated circuit (ASIC) bitcoin mining industry with a line of bitcoin mining rigs known as the Teraflux series. Auradine’s...