Sat, November 23

Crypto Mining Firm Phoenix Technology Contemplates IPO in UAE

Cryptocurrency mining gear supplier and mining facility operator Phoenix Technology is contemplating an IPO as per a Bloomberg report. The article claims that preliminary discussions have been in place for an IPO for Phoenix in Abu Dhabi. The UAE-based firm signed a $650 million contract for mining rigs in 2021,

July 28, 2023 1 min read

Bitcoin Mining Difficulty Reaches a New All-time High of 53.91T

After the last difficulty adjustment on July 12, Bitcoin mining achieved an all-time high of 53.91 trillion units. It’s a way to rank the difficulty of mining Bitcoin. Every two weeks, the blockchain adjusts the difficulty to keep the average transaction time at 10 minutes. As the processing power of

July 13, 2023 2 mins read

Riot Platforms Buys 33,280 Mining Gears for Whopping $162.9M

One of the prominent Bitcoin mining businesses, Riot Platforms, has spent $162.9M on 33,280 “next-generation” Bitcoin miners for its Texas data center. The purchase of the mining rigs from supplier MicroBT is well ahead of Bitcoin’s next halving cycle, which is expected to occur around the middle of 2024. The

June 27, 2023 2 mins read

Tether Joins Volcano Energy to Build World’s Largest Bitcoin Mining Farm

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

June 5, 2023 2 mins read

Marathon Digital Witnesses 77% Surge in BTC Mined in May

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

June 3, 2023 1 min read

Bitcoin Mining Firm CleanSpark Buys 12,500 Mining Gear Worth $40.5M

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

June 2, 2023 1 min read

Biden’s Proposed Crypto Mining Tax Blocked in Debt Ceiling Agreement

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

May 29, 2023 1 min read

Bitcoin Mining Becomes Most Searched Topic in Africa

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.

May 26, 2023 1 min read

Riot Platforms Files Lawsuit Against Rhodium Over Pending Payment

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

May 14, 2023 1 min read