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Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid CongestionIn the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to […]

Bitcoin Bull Market May Drive Russian Miners Underground

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/sMawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per […]

Bitcoin Bull Market May Drive Russian Miners Underground

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, ReportsRussia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in […]

Bitcoin Bull Market May Drive Russian Miners Underground

Cleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain Rigs

Cleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain RigsBitcoin mining operation Cleanspark has acquired 20,000 brand-new Bitmain mining rigs for $43.6 million, the company reported. Once installed, Cleanspark expects to increase its capacity by 37% by adding roughly 2.44 exahash per second (EH/s) to the firm’s fleet. Cleanspark CEO Says Proprietary Mining Model Gives Company Greater Control and Efficiency Cleanspark, the publicly listed […]

Bitcoin Bull Market May Drive Russian Miners Underground

Russia Expands Its Crypto Mining Capacity, Report Reveals

Russia Expands Its Crypto Mining Capacity, Report RevealsThe 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 factors for the trend. Miners Prepare for Growth as Total […]

Bitcoin Bull Market May Drive Russian Miners Underground

Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Network

Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning NetworkMembers of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins. […]

Bitcoin Bull Market May Drive Russian Miners Underground

2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million

2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth 3 MillionAnother bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an […]

Bitcoin Bull Market May Drive Russian Miners Underground

Hydro-Québec Looks to Suspend Power Distribution to Crypto Miners in Bid to Save Capacity

Hydro-Québec Looks to Suspend Power Distribution to Crypto Miners in Bid to Save CapacityAccording to a Hydro-Québec newsroom report, the company has asked the electricity transmission and distribution regulator, Régie de l’énergie, to cease offering services to crypto miners. The Hydro-Québec report stresses that “growth in electricity demand is expected to continue in Québec. Hydro-Québec Targets Blockchain Industry in Order to Stave off Electricity Demand Cryptocurrency miners in […]

Bitcoin Bull Market May Drive Russian Miners Underground

Research Shows 19% of Bitcoin’s Hashrate Is Managed by Publicly Listed Companies

Research Shows 19% of Bitcoin’s Hashrate Is Managed by Publicly Listed CompaniesAccording to findings stemming from a report published by Arcane Research, Bitcoin’s hashrate is steadily going public as an increasing share is deployed by publicly listed companies. Current data shows that the publicly listed miners’ share of Bitcoin’s hashrate is roughly 19% today, up 3% since January 2021. Publicly Listed Bitcoin Miners Continue to Grow, […]

Bitcoin Bull Market May Drive Russian Miners Underground

Single Mining Farm Needs as Much Power as 24,000 Homes, Kazakhstan Estimates

Single Mining Farm Needs as Much Power as 24,000 Homes, Kazakhstan EstimatesAuthorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms and proposed a cap on the power rating of new facilities. Kazakhstan […]

Bitcoin Bull Market May Drive Russian Miners Underground