Bitfarms Reveals Leadership Changes Amid Ongoing Conflict With Riot Platforms

August 14, 2024 Bitcoin.com

Acquisition

Bitfarms Ltd. has announced significant changes to its board of directors and executive team as the company continues to navigate a takeover bid and governance dispute with Riot Platforms Inc. The latest leadership updates include the appointment of CEO Ben Gagnon to the board and the resignation of co-founder and chairman Nicolas Bonta. Bitfarms Restructures […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Bitcoin Miner Core Scientific Announces $350 Million Convertible Senior Notes Offering

August 13, 2024 Bitcoin.com

Bitcoin Miner Core Scientific Announces 0 Million Convertible Senior Notes Offering

Bitcoin mining

Core Scientific, Inc., a prominent digital infrastructure provider for bitcoin mining, has revealed its intent to issue $350 million in convertible senior notes. This offering is anticipated to close in September 2029, with the raised capital earmarked primarily for debt repayment and other corporate necessities. Core Scientific Unveils Convertible Notes Offering, Eyes Debt Repayment On […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Cleanspark Secures 26,000 Bitmain Immersion Miners in $167.7M Deal

August 13, 2024 Bitcoin.com

Cleanspark Secures 26,000 Bitmain Immersion Miners in 7.7M Deal

ASIC miners

Cleanspark, a publicly-listed bitcoin mining company, recently shared in its 10-Q report that it has acquired 26,000 units of Bitmain’s S21 XP immersion-cooled bitcoin mining machines. These types of cutting-edge immersion miners, known for their quieter operation and impressive hashrate performance, are gaining traction in the industry. Cleanspark to Acquire Next-Gen Immersion-Cooled Mining Rigs From […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Hive Digital sales up 36% as Bitcoin miner forays into AI compute

August 13, 2024 Coin Telegraph

Bitcoin mining

Hive's new high-performance computing platform clocked around $2.6 million in sales in the second quarter of 2024.

Hive Digital Technologies Ltd. (HIVE) notched a 36% uptick in sales in the second quarter of 2024 as the Canadian Bitcoin miner diversifies into providing computational power to artificial intelligence (AI) applications, according an Aug. 13 filing.

Hive reported second-quarter 2024 revenues of around $32 million, compared to some $23.5 million the year prior, the company said. Much of those gains came from Hive’s core cryptocurrency mining business. The company also scaled its new high-performance computing platform to around $2.6 million in sales.

On July 12, 2023, the company changed its name from Hive Blockchain Technologies to Hive Digital Technologies to reflect a pivot to hosting AI and other advanced applications. The shift was an effort to cash in on the company’s large inventory of Nvidia graphics processing unit (GPU) cards, Hive said.

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

MARA Announces $250M Private Offering of Convertible Senior Notes to Buy More Bitcoin

August 12, 2024 Bitcoin.com

Bitcoin

Marathon Digital Holdings, Inc., now simply known as MARA, is rolling out a plan to offer $250 million in convertible senior notes set to mature in 2031. This move, targeting qualified institutional buyers, aims to generate funds for corporate ventures and the purchase of more bitcoin. MARA to Purchase More Bitcoin Following Private Sale As […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Bitcoin miner Argo repays $35M Galaxy bailout loan

August 12, 2024 Coin Telegraph

Bitcoin miner Argo repays M Galaxy bailout loan

Bitcoin Price

The loan saved Argo from bankruptcy during the crypto winter of 2022.

Bitcoin miner Argo Blockchain finished repaying $35 million it borrowed from asset manager Galaxy Digital in 2022 to stave off bankruptcy amid that year’s crypto bear market, according to an Aug. 12 company filing.

The repayment marks “a significant milestone for Argo” and was accomplished “without any meaningful impact to Argo’s hashrate,” Argo CEO Thomas Chippas said in a statement. Hashrate measures the computational power of a cryptocurrency mining operation and directly relates to how much Bitcoin (BTC) a miner can earn in a given period.

In December 2022, Argo narrowly avoided bankruptcy by agreeing to a multi-part deal with Galaxy that included selling its Helios Bitcoin mining facility in Dickens County, Texas, for $65 million and refinancing its debt with a $35 million loan.

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

From Teraflux to Antminer: Exploring the Top ASIC Bitcoin Mining Rigs on the Market Today

August 11, 2024 Bitcoin.com

Antminer

During the first week of August 2024, Bitcoin’s hashprice—a key metric that gauges the daily value of one petahash per second (PH/s) of hashpower—dipped to its lowest point in history, sliding below $38 per PH/s. In this fiercely competitive bitcoin mining arena, only the most resilient operations can thrive, with the best-performing machines bringing in […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Bitcoin Difficulty Reduction Incoming? Miners Brace for a Major Shift on Aug. 14

August 11, 2024 Bitcoin.com

Bitcoin

Following the latest difficulty change 11 days ago when the metric increased by 10.5%, Bitcoin’s difficulty is estimated to shift downward between 4% to 5.3% on Aug. 14. Bitcoin’s All-Time High Difficulty Faces Estimated Reduction Bitcoin miners may get some relief in three days when the difficulty retarget shifts following the largest difficulty rise so […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Putin Signs Law to Regulate Crypto Mining in Russia

August 10, 2024 Bitcoin.com

Bank of Russia

Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with electricity and prohibiting the promotion of cryptocurrencies. It also allows the circulation of mined cryptocurrency […]

Still Early: Taylor Swift Remains More Popular Than Bitcoin for Now

Bitcoin Mining Profits Crushed by Record Difficulty and Historic Hashprice Drop

August 7, 2024 Bitcoin.com

Bitcoin

On Aug. 7, 2024, bitcoin’s price moved within a 24-hour range between $55,742 and $57,607. This lower price bracket has significantly reduced bitcoin mining revenue, causing the estimated daily value of 1 petahash per second (PH/s), also referred to as the hashprice, to drop below $36 two days prior. Miners Grapple With Unprecedented Low Hashprice […]

Mining

Share this video