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CleanSpark acquires 5 mining facilities in Georgia

The new facilities are expected to increase CleanSpark’s hashrate to over 20 exahashes per second by the end of June, spokespeople claimed.

CleanSpark, an American Bitcoin (BTC) mining company focused on using clean energy, announced a definitive agreement to acquire five mining facilities in Georgia.

In a June 18 announcement, CleanSpark explained that the $25.8-million deal is “expected to close immediately” and revealed that the five facilities combined are predicted to exceed 3.7 exahashes per second (EH/s) in processing power.

The mining sites vary in operational capacity, from 8 to 15 megawatts of power, for a combined 60 MW across the facilities. Spokespeople for CleanSpark expressed confidence that the company’s total hashrate would increase to over 20 EH/s by the end of June.

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Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Cleanspark Acquires 5 Bitcoin Mining Facilities in Georgia for $25.8 Million

Cleanspark Acquires 5 Bitcoin Mining Facilities in Georgia for .8 MillionCleanspark Inc. has announced the acquisition of five new bitcoin mining facilities in Georgia for $25.8 million. The deal is expected to close immediately, increasing the company’s operating hashrate to over 20 EH/s by the end of the month. Publicly Listed Miner Cleanspark Obtains 5 New Mining Facilities The newly acquired sites, which range from […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Bitmain’s New S21 Bitcoin Mining Rigs Debut With up to 473 TH/s of Hashpower

Bitmain’s New S21 Bitcoin Mining Rigs Debut With up to 473 TH/s of HashpowerAt the World Digital Mining Summit in Las Vegas, Bitmain, a leading manufacturer of application-specific integrated circuit (ASIC) bitcoin mining rigs, introduced two new mining machines. Both models—one air-cooled and one hydro-cooled—boast an efficiency rating of under 14 joules per terahash. Bitmain Introduces S21 XP and S21 XP Hydro Bitmain’s new Antminer S21 series mining […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Bitcoin Miners Face 8.4% Profit Decline Amid Falling Hashprice and Market Pressures

Bitcoin Miners Face 8.4% Profit Decline Amid Falling Hashprice and Market PressuresIn the last three days, bitcoin miners have experienced an 8.4% drop in profits, echoing a decrease in bitcoin prices. Since then, the network’s hashrate has fallen below the 600 exahash per second (EH/s) mark. Price Drop Squeezes Bitcoin Mining Profits Revenue for bitcoin miners has declined as the hashprice, the revenue from 1 petahash […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Nicehash Partners With Marathon to Launch Custom Firmware for ASIC Bitcoin Miners

Nicehash Partners With Marathon to Launch Custom Firmware for ASIC Bitcoin MinersThe bitcoin hashing power marketplace, Nicehash, has launched custom software for ASIC miners optimized for its mining platform. The firmware is designed to help miners drive greater efficiency from ASIC devices and increase revenue. Nicehash CEO said the collaboration with Marathon will strengthen its market position and enable miners globally to attain unparalleled efficiency and […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Mining execs establish organization to influence US crypto voters

A board member of the Bitcoin Voter Project described the group as nonpartisan and planned to take a different approach than initiatives like Stand With Crypto.

Three executives representing some of the largest cryptocurrency mining companies in the United States have helped launch a nonprofit organization to educate voters on Bitcoin (BTC). 

Jayson Browder, the senior vice president of government affairs at mining firm Marathon Digital Holdings, told Cointelegraph that he and two executives from Riot Platforms and CleanSpark formed the board members of the Bitcoin Voter Project. Browder said the group was registered as a 501(c)(4) in the United States.

In contrast to a political action committee (PAC), organizations registered under a 501(c)(4) cannot primarily support one candidate or political party. The launch of the voting project came less than 24 hours after different representatives from Marathon, CleanSpark, TeraWulf and Riot met with former U.S. President Donald Trump, which led to the recently convicted felon wanting “all the remaining Bitcoin mining to be made in the USA.”

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Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Crypto Biz: Riot Platforms and Bitfarms dispute escalates

This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more.

The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified. 

On June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million and bringing its total holding from 9.25% to 13.1%.

The move came just a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more. The defense mechanism is designed to dilute the value of shares and hinder Riot’s takeover plans.

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Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Bitcoin breaks 18-month hashrate uptrend: Are BTC miners capitulating?

Despite the drop in hashrate, Bitcoin miner selling isn’t correlated with the BTC price drop from $71,100 to $66,000.

Bitcoin’s hashrate has broken down from an 18-month uptrend, suggesting the start of a potential Bitcoin miner capitulation.

Following an 18-month uptrend, Bitcoin’s true hashrate fell to around 600 exahashes per second (EH/s). The hashrate is used to measure how difficult it is for miners to mine Bitcoin (BTC).

The breakdown from the uptrend could signal that some Bitcoin mining firms are selling their BTC, according to Ki Young Ju, the founder and CEO of CryptoQuant. He wrote in a June 13 X post:

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Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Competitive Pressure Builds for Bitcoin Miners as Hashprice Swings

Competitive Pressure Builds for Bitcoin Miners as Hashprice SwingsBitcoin’s hashrate experienced an uptick this week, briefly surpassing 600 exahash per second (EH/s) and currently stabilizing at 598 EH/s. The hashprice, which represents the expected value of 1 petahash per second (PH/s) of hashing power per day, is about $57 per petahash. Mining Centralization Grows as Bitcoin Hashrate and Revenues Shift As of June […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection

Donald Trump Pledges to Champion Bitcoin Mining in Historic Meeting With Industry Leaders

Donald Trump Pledges to Champion Bitcoin Mining in Historic Meeting With Industry LeadersFormer U.S. President and presidential candidate Donald Trump has engaged with leaders in the bitcoin mining sector, expressing his support for the industry. Trump stressed that bitcoin mining “may be our last line of defense” against a central bank digital currency (CBDC). He emphasized the importance of producing the remaining bitcoin in the U.S., suggesting […]

Trader Warns of Potential XRP Correction, Says Dogecoin Trading at Most Likely Area To Expect Rejection