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.
The exciting conceptual event where the reward for the transactions of Bitcoin (BTC) mining is getting half the cut is termed ‘Bitcoin Halving’. The basic cut-off for the current year 2023, is yet 6.25 BTC which then completes by the next year. This halving cycle is where the current holding
The crypto market has gained significant attention around the world. Countries are continuing to utilize digital assets and carry out strategies to attract traders, investors, and cryptocurrency companies. As the world continues its rapid shift towards digital currencies, the United Arab Emirates (UAE) has emerged as a leading destination for
Riot Platforms, a major player in the global Bitcoin mining industry, is poised to significantly enhance its hashrate capacity by acquiring 33,280 mining rigs from MicroBT, a renowned manufacturer of essential equipment for cryptocurrency mining. The order for Application-Specific Integrated Circuit (ASIC) amounts to an impressive $162.9 million, setting it
The year 2022 couldn’t be denied that it has indeed been tough. Though the end for the year is near, yet tragedy never fails to keep out of the crypto industry. As we are in the last quarter of the financial year 2022, statistics for the year 2023 are in
Though the year 2022 is nearing its end, the aftermath is ought to be seen throughout the year 2022. The American Bitcoin (BTC) mining firm Greenidge, seems to be the latest tragic firm to nearly shut down itself, filing bankruptcy in the year 2022. Ever since Greenidge started off their
Samsung starts producing 3-nm chips, which will be 45% more energy-efficient. The new chips are predicted to increase by 23%. The technology powerhouse Samsung announced at end of June, that they started creating new 3-nanometer (nm) mining chips that will use 45% less energy. While announcing the 3nm chip, Samsung
As a significant factor, the entire crypto industry is aware of Bitcoin, which is the world’s largest cryptocurrency. The process of bringing new Bitcoin into circulation by verifying a new Bitcoin transaction is known as Bitcoin mining. Despite the fact that Bitcoin mining needs high computational power, small miners will
After Russia’s invasion on Ukraine, when both the countries are settling slowly, all the restricted crypto services in Russia are heading up. As with the speed of losing the crypto users in the country, the Russian government is slowly starting to do favor for Bitcoin and other cryptocurrency units. Recently,
Crypto market crashes again on January 21,2022. BTC hit a 6 months low of $38K. Leads to the entire crypto sector a liquidation of $725 million. Just when all were the high hopes for the year 2022 to brighten up, overcoming the 1st market crash of 2022, tragedy strikes again.
