Because of its positive effects on the economy and the environment, Bitcoin mining has gained a supporter at the World Economic Forum (WEF). After formerly criticizing cryptocurrency for its excessive energy usage, the WEF has begun to endorse some parts of the cryptocurrency market and mining in recent years. The
On this Earth Day, let’s look at some of the green cryptocurrencies in the market. The general accusation made against cryptocurrency and its backend technology is high energy consumption. Reports in the past few years have stated that US mining firms consume more electricity than any third-world country. Proof-of-Work (PoW)
Stronghold Digital Mining is raising $10 million in private equity funding to buy Bitcoin mining hardware. The Bitcoin mining firm is investing millions in mining hardware upgrades and expansion. In order to finance the acquisition of Bitcoin miners, Strong Digital Mining entered into a Securities Purchase Agreement with institutional investors
Intel’s announcement on Tuesday that it will stop producing its flagship brand of Bitcoin mining chips came as a surprise to the cryptocurrency community and the larger crypto-mining market. Furthermore, the firm has promised that final shipments would occur no later than April 20, 2024. Intel has announced that it
The flourishing cryptocurrency market is bringing novel opportunities for investors and traders regardless of skill and knowledge or not. Mining is vital to create cryptocurrencies including Bitcoin, and Ethereum, but it is prohibitively expensive to set up mining equipment. However, websites such as Simple Rigs make mining easy and affordable
Bitdeer, a cryptocurrency miner based in Singapore, is completing a SPAC merger with Blue Safari Group Acquisition Corp. and plans to go public on April 14. The former had announced that it would begin trading on Nasdaq in November of 2021. Due to the challenging conditions brought about by the
Recent reports state that Arizona Governor Katie Hobbs has vetoed legislation to prevent municipalities from imposing taxes on residential Bitcoin (BTC) mining operations. The Governor stated that the measure sought to limit the authority of local stakeholders, which was unacceptable. In January, Arizona Senator Wendy Rogers introduced the bill that
CleanSpark, a Bitcoin miner based in Sandersville, Georgia, in the United States, has announced the completion of a $144.9 million transaction to acquire 45,000 of Bitmain’s Antminer S19 XP Bitcoin mining machines. The first 25,000 miners will start trickling in over the month of August, with the remaining devices coming
Bitmain, a cryptocurrency mining company located in Beijing, allegedly broke Chinese tax law and was fined heavily as a result. On April 11, the local news source Sina Finance reported that Bitmain Technologies had been hit with a tax penalty by the Beijing Municipal Office of the State Administration of
Marathon Digital, one of the top cryptocurrency mining corporations, mined a record 2,195 BTC in the first quarter of the year, bringing its total holdings to 11,466 Bitcoin. As compared to the results from 2022, the positive outcome at the beginning of this year is striking. A huge storm in
