Iris Energy (IREN), a Bitcoin mining company listed on the NASDAQ, stated on Tuesday that it intends to increase its hash rate capacity by 63%, from 5.5 EH/s to 9.1 EH/s by the beginning of 2024. Moreover, Iris is nearing completion of phase 1 of its 600MW plant in Childress,
Tether, the issuer of the world’s largest stablecoin by market capitalization (USDT), has announced that it took part in the first round of a new billion-dollar renewable energy initiative in El Salvador. Moreover, it is looking to invest $1 billion to build the world’s largest Bitcoin mining farms. Tether Energy
With the aid of its own software, Bitcoin miner Marathon Digital Holdings (MARA) mined 1,245 bitcoin in May, an increase of 77% over the previous month. According to the announcement, the miner has boosted its operating processing power by 9%, to 15.2 exahash/second (EH/S). CEO Fred Thiel stated: “The increased
CleanSpark, a Bitcoin mining company, has invested $40.5 million in 12,500 new ASICs to increase its fleet size. The mining company’s overall hash rate is expected to increase to more than 16 EH/s as a result of the new hardware. Moreover, CleanSpark said on Thursday that the cost per terahash
It became clear on Sunday that the Digital Asset Mining Energy (DAME) excise tax proposed by the Biden administration was blocked as part of the agreement between President Joe Biden and House Speaker Kevin McCarthy on the U.S. debt ceiling. The Biden administration justified the proposed 30% tax on crypto
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has become the most interesting topic in Africa. The country leads the world in the search for Bitcoin mining. Google Trends, the trending topic analyzer, has reported that more people in Africa have searched for BTC than anywhere else in the world.
To recoup “more than $26 million” in claimed unpaid mining facility fees, Riot Platforms (previously Riot Blockchain), a cryptocurrency mining platform, has filed a lawsuit against Texas-based Bitcoin miner Rhodium Enterprises. Rhodium reportedly broke its contract with Riot by not paying hosting and service costs related to utilizing Whinstone’s Bitcoin
With the rise in the wide adaptability of cryptocurrencies, there is an emerging need to generate ways to earn from these coins. Founded in 2016, Gbitcoins is one of the earliest companies that provide cloud mining services by taking minimum charges and giving lucrative rewards to the miners. Thus cloud
Montana Governor Greg Gianforte has signed a pro-cryptocurrency mining bill, S.B. 178, into law. The bill largely prevents local governments in Montana from passing laws that prohibit cryptocurrency mining. It enshrines crypto miners’ rights in the state by revising existing laws to prohibit discriminatory electrical rates for mining firms and
In a budget proposal for the fiscal year 2024, US President Joe Biden suggested a new tax on cryptocurrency mining. Companies involved in crypto mining—the process of mining new cryptocurrencies by solving complex cryptographic problems and verifying transactions—will be subject to the Digital Asset Mining Energy (DAME) excise tax. 30%
