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Search Results for: mining

Bluestone Mining Empowers Passive Income through Innovative Cloud Mining

BluestoneMining is pioneering a transformative approach to the digital asset industry, democratizing the cryptocurrency mining space by introducing revolutionary cloud mining solutions. This groundbreaking development aims to make the process of mining digital currencies accessible to a wider audience by simplifying and removing human involvement. Founded in 2016, BluestoneMining is

March 23, 2024 3 mins read

Bitcoin Mining Firm Bit Digital Posts $44.9M Profits in 2023

Bit Digital, a Bitcoin mining company, has reported profits of $44.9 million for 2023, an increase of 39% compared to 2022. According to Bit Digital, their earnings for 2023 were 1,507.3 BTC, up 21% from the previous year. At the current market pricing, the mining firm’s stated quantity of Bitcoin

March 20, 2024 1 min read

Marathon Digital Set to Acquire $87.3M Bitcoin Mining Facility

Marathon Digital Holdings recently made an announcement about a formal deal to acquire a 200 MW Bitcoin mining facility in Texas from Applied Digital for $87.3 million. After all changes to the price have been negotiated, the deal will be finalized since Marathon has agreed to pay the acquisition price

March 17, 2024 1 min read

Earn Legitimate Daily Passive Income with ARKMining Cloud Mining

ARKMining, a leading cloud mining service provider, announces the launch of new innovative solutions that promise to make mining profitable and accessible for everyone. With its cutting-edge technology and user-friendly platform, ARKMining is set to revolutionize the world of cryptocurrency mining. The new solution provided by ARKMining allows users to

March 15, 2024 2 mins read

Revolution Mining Launches 15 MW Mining Facility in West Texas on ERCOT

 In a significant stride towards enhancing the crypto-mining infrastructure, Revolution Mining is thrilled to announce the launch of its state-of-the-art 15MW mining facility in West Texas, directly connected to the ERCOT (Electric Reliability Council of Texas) grid. This strategic move underscores Revolution Mining’s commitment to providing the crypto-mining community with

March 14, 2024 3 mins read

Bitcoin Mining Revenue Peaks Ahead of Halving as BTC Price Soars 

With the value of Bitcoin continuing to soar over the weekend, mining revenue for BTC reached an all-time high. On March 9, the seven-day moving average of miner profits reached $68.28 million, according to statistics from The Block. This surpassed the previous record of $67.15 million, set in May 2021.

March 12, 2024 1 min read

U.S President Proposes 30% Tax on Crypto Mining Power in 2025 Budget

In his proposed budget for the year 2025, Joe Biden, the president of the United States, has brought back the concept of a 30% tax on the power used by cryptocurrency miners. As stated in the U.S. Department of the Treasury paper “General Explanations of the Administration’s Fiscal Year 2025

March 12, 2024 2 mins read

Hut 8 Shuts Down Bitcoin Mining Site Citing Soaring Energy Prices

In Drumheller, Alberta, Canada, Bitcoin miner Hut 8 has decided to shut down operations owing to power outages and soaring energy prices. The notification made on March 6 states that the Drumheller mining plant, which accounts for only 1.4% of Hut 8’s Bitcoin (BTC) but uses around 11% of its

March 7, 2024 1 min read

Riot Platforms Posts $281 Million Revenue from Bitcoin Mining in 2023 

Riot Platforms, a vertically integrated Bitcoin mining and data center hosting firm, reported record revenue of $280.7 million for the year ended December 31, 2023, according to its annual report.  Riot Platforms saw an 8% increase in its total revenue from $259.2 million in 2022 to $280.7 million in 2023.

February 24, 2024 2 mins read