US Coal Miner Uses Excess Power to Mine BTC; Earns 61 Coins in Q1 2024

May 2, 2024 Bitcoin.com

Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company’s CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins. Marshall also stated that during the first quarter, ARLP mined 61 bitcoins […]

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‘No signs’ of Bitcoin miner capitulation despite plummeting revenue

May 1, 2024 Coin Telegraph

Bitcoin Halving

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 (BTC) miners show no signs of “capitulation” despite their revenue falling to 14-month lows following the halving event in April.

In an April 30 post to X, CryptoQuant CEO Ki Young Ju said that following a drop in revenue to levels post having, Bitcoin miners now face two options, capitulation or await growth in the price of Bitcoin to cover their costs.

Citing the 365-day Puell Multiple chart — a metric that estimates the level of sell pressure from miners — Ju said miners show no signs of capitulation “for now.”

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Iris Energy Boosts Hashrate to 9 EH/s Amid Declining Bitcoin Miner Earnings

April 30, 2024 Bitcoin.com

9 Exahash

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 has significantly declined, exerting intense pressure on BTC mining […]

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In a Sea of Mining Giants, One Solo Miner Strikes Digital Gold by Finding Bitcoin Block 841,286

April 29, 2024 Bitcoin.com

Bitcoin (BTC)

While bitcoin mining has become increasingly difficult and block rewards have dropped from 6.25 bitcoins to 3.125 bitcoins, a solo miner discovered block 841,286. Bitcoin’s Harsh Mining Climate Yields Treasure for One Solo Entity Mining bitcoin (BTC) has become significantly challenging, with the network’s difficulty reaching an all-time high of 88.10 trillion. This complexity, coupled […]

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Dimon Doubles Down on Bitcoin Dislike, SBF to Aid Legal Action Against Celebrities, and More — Week in Review

April 28, 2024 Bitcoin.com

bitcoin democracy

JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with legal actions against celebrities linked to FTX’s collapse. U.S. analysts are evaluating the impact of the proposed […]

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Marathon Digital Ramps up Bitcoin Mining Goals, Targets 50 EH/s Hash Rate for 2024

April 26, 2024 Bitcoin.com

Bitcoin (BTC)

Marathon Digital plans to increase its 2024 hash rate target for Bitcoin mining from 35-37 EH/s to 50 EH/s, thanks to expanded capacity from recent acquisitions, aiming to more than double its mining operations without the need to raise additional capital. The company’s growth includes purchasing a 200 megawatt Bitcoin mining center and two additional […]

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‘Epic Satoshi’ From Bitcoin’s 4th Halving Fetches Over $2.13 Million at Coinex Auction

April 25, 2024 Bitcoin.com

‘Epic Satoshi’ From Bitcoin’s 4th Halving Fetches Over .13 Million at Coinex Auction

Bitcoin mining

The renowned ‘epic satoshi’ from the fourth halving block, also known as Sat # 1,968,750,000,000,000, fetched a price of 33.3 bitcoins, valued at just over $2.13 million on Thursday afternoon Eastern Standard Time. This satoshi, the smallest denomination of BTC, was sold for an astonishing 338 billion percent more than the typical value of a […]

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Bitcoin’s First Post-Halving Adjustment Raises Mining Difficulty to Record High

April 24, 2024 Bitcoin.com

Bitcoin (BTC)

Bitcoin recently completed its first difficulty adjustment following the fourth halving, recording a 1.99% increase and pushing the mining difficulty to a record high. The network’s difficulty level rose from 86.39 trillion to a new level of 88.10 trillion. Bitcoin Miners’ Strength Tested as Mining Difficulty Jumps 2% Post-Halving As of block 840,672, which occurred […]

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Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig

April 23, 2024 Bitcoin.com

3nm

On Tuesday, Jack Dorsey, the founder of Block, took to X to announce that the company is “building a mining rig.” Dorsey also shared a blog post authored by Block’s lead for mining hardware products, Naoise Irwin. The post revealed enhancements in the chip design, upgrading from the initially planned 5-nanometer (nm) process to an […]

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Jack Dorsey’s Block announces development of ‘full Bitcoin mining system’

April 23, 2024 Coin Telegraph

Bitcoin mining

The Block — then Square — CEO initially suggested the idea of a collaborative approach to decentralize Bitcoin mining in October 2021.

Payments firm Block, formerly known as Square, has announced plans to develop a Bitcoin (BTC) mining system in response to challenges faced by mining operators.

In an April 23 blog post, Block said it had completed development of a three-nanometer chip used for BTC mining, which led to the firm announcing a “full Bitcoin mining system.” Block — then Square — CEO Jack Dorsey suggested a collaborative approach to decentralize Bitcoin mining in October 2021.

“We’ve spent a significant amount of time talking to a wide variety of bitcoin miners to identify the challenges faced by mining operators,” said Block. “Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design.”

Bitcoin mining

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