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
Texas, the leading Bitcoin mining capital of the world, is just a phase away from passing the most significant anti-Bitcoin mining bill. On Tuesday, the State Committee in Austin approved the bill with zero opposition votes, moving it to the “uncontested” list. Currently, it is in the queue in the
Canaan, a Chinese Bitcoin miner, and producer of application-specific integrated circuit (ASIC) mining devices, reported an annual decline in revenue of 82.1% to $56.8 million in its most recent filing with the United States Securities and Exchange Commission (SEC) on March 7. In Q1 2022, Canaan reported a decrease in
Fraudulent crypto mining operations are in no way escaping the regulatory radar of the US Securities and Exchange Commission (SEC). On March 3, SEC filed a lawsuit against Utah-based crypto mining firm Green United LLC for raising over $18 million in a fraudulent sale of crypto mining equipment and assets
Bitcoin’s proof-of-work consensus mechanism has been the subject of criticism for years. It was said that the BTC mining process was hazardous to the environment since it required a lot of energy. Others have also speculated that it might have an adverse effect on the availability of various forms of
