The Iranian Ministry of Energy has ordered local authorized cryptocurrency miners to temporarily suspend their activities in the face of electricity shortages during the coldest months of the year. This is the second time authorities take measures of this kind as they did the same between May and September this year. Same Ban, Different Season...Read More
Stronghold Digital Mining purchased over 9000 BTC mining rigs, which will allow it to add roughly 826 petahashes per second (PH/s) to its power generation facilities. The Pennsylvania-based company bought 9080 Bitmain and MicroBT mining rigs, as per an SEC filing on Monday. The announcement is part of Stronghold’s Q3 earnings release on Nov. 30,...Read More
TeraWulf – an American bitcoin mining company – raised around $200 million in debt and equity financing from a group of individual and institutional investors. As a result, the firm expects to achieve a mining capacity of 6 exahash per second or 200 megawatts by the second part of 2022. Furthermore, TeraWulf eyes public listing...Read More
One of the leading cryptocurrency mining companies in the US – Riot Blockchain – acquired the electrical equipment provider – Ferrie Franzmann Industries (known as ESS Metron) for $50 million. As a result, the latter will provide a steady infrastructure supply for Riot’s new mining machines. Riot’s Expansion The news was announced in a recent...Read More
Griid Infrastructure – an American bitcoin mining company known – and the blank check firm – Adit EdTech Acquisition Corp. (ADEX) – announced their merger. As a result, the latter will acquire Griid Holdco LLC – a newly formed holding organization and parent of Griid. Upon finalizing the transaction, the combined entity is expected to...Read More
Shares of the U.S. leading crypto mining company Marathon Digital Holdings (MARA) went on a downward spiral, plunging by nearly 30% within 24 hours amid a recent crackdown by the country’s Securities and Exchange Commission (SEC). MARA Down 27% in 24 Hours Since Marathon is primarily a Bitcoin miner, the recent bull run in the...Read More
The government of Kazakhstan reportedly plans to put local companies working with digital assets under its regulatory scope. According to a proposed bill, those entities will have to give detailed information about their crypto operations to the country’s financial watchdogs to prove they have no connections to money-laundering schemes. Kazakhstan May Tighten Its Crypto Rules...Read More
The Nasdaq-listed company Mawson Infrastructure Group reportedly inked a partnership with Quinbrook Infrastructure Partners to set up one of Australia’s largest bitcoin mining operations. It will be located in the beachside town – Byron Bay – and will use 100% renewable energy. Australia Aims at Green BTC Mining Apart from being one of the leading...Read More
A recent survey revealed that the majority of the UK residents would not support their government if it imposed a crackdown on bitcoin due to environmental reasons. Somewhat expectedly, the elderly were bigger proponents of the move. Not The Best Idea The first ten months of 2021 have been another turbulent period for bitcoin. The...Read More
North Vancouver, part of the Canadian district of British Columbia, is on a path to become the first city that employs bitcoin mining for heating residential and commercial buildings. The initiative should be available from 2022 after a partnership between the cryptocurrency miner – MintGreen – and the Lonsdale Energy Corporation (LEC). BTC Mining as...Read More
Bitmain – one of the world’s largest manufacturers of bitcoin mining machines – revealed it would no longer deliver crypto mining rigs to mainland China addresses. However, the firm would continue shipping its products to overseas destinations. The Crypto Ban Reached Bitmain The Chinese crackdown on cryptocurrency mining and trading has affected Bitmain as well....Read More
Nayib Bukele – president of El Salvador – recently took to Twitter with some mining numbers. It appears that the country’s developing volcanic mining facility has produced its first Bitcoin. Volcanic Bitcoin As revealed by Bukele earlier today, the gains produced by the volcano are still small. However, the president still seemed quite enthusiastic to...Read More
The People’s Bank of China (PBoC) published a document reminding that digital assets are banned within the country and added that operating with exchanges will also be prohibited. As a result, BTC dumped by $3,000 in an hour. China’s negative stance on the cryptocurrency space has been wildly known for years, and the nation tends...Read More
Another Chinese province has decided to follow the example and halt cryptocurrency mining and trading. While this continues to be the ongoing trend coming from China this year, the price of bitcoin has not dumped this time, as it did during the previous set of adverse developments. One More Chinese Province Goes After Crypto The...Read More
Blockstream, the blockchain-focused company spearheaded by Adam Back, will develop and manage zero-emission Bitcoin mining facilities with the first to be built in North America. The firm’s initiative will come to life through a partnership with an Australian multinational independent investment bank – Macquarie Group. The Canada-based blockchain company continues with its effort to minimize...Read More
Vietnam has recently started recording high demand for crypto mining equipment as more people join the sector to mine cryptocurrencies like bitcoin, ether, and others. Interestingly, the mining rig market in Vietnam saw a significant decline a few months ago after bitcoin lost more than 50% of its value and traded below $30,000 due to...Read More
The valuation of the company has risen above $3 billion after completing the Series B round in which some of the participants included iFinex and Baillie Gifford. Blockstream aims to use the funds towards manufacturing mining chips. As reported by Canadian media on August 24th, Blockstream has further solidified its positioning as a cryptocurrency unicorn...Read More
BlackRock, a $9 trillion multinational investment behemoth, has purchased considerable stakes in two BTC mining firms – Marathon Digital Holdings (MARA) and Riot Blockchain (RIOT). The institution, which has previously shown an appetite for the crypto industry, has put approximately $383M in both. Citing a mandatory filing with the Securities and Exchange Commission, Forbes reported...Read More
One of the largest industrial-scale Bitcoin mining operators globally, Genesis Digital Assets, made the announcement on July 28. The firm stated that it had secured a $125 million round of equity funding to support “aggressive expansion plans.” The round comes from the U.K.-based private equity fund Kingsway Capital. The fund is focused on frontier emerging...Read More
The ruling body of Kazakhstan will reportedly allow local banking institutions to offer cryptocurrency exposure to clients. The implementation will run for one year, after which the government will decide whether to extend it. Bank Accounts for Crypto Transactions in Kazakhstan The Kazakhstani news channel Khabar 24 reported that the government plans to officially authorize...Read More
China’s crackdown on cryptocurrency mining has wreaked havoc on the Bitcoin mining industry, but some are looking to turn the crisis into business opportunities by offering profitable and sustainable alternatives in more cryptocurrency-friendly locations. The search for alternative sustainable Bitcoin mining solutions intensified after Tesla CEO Elon Musk announced that his company would stop accepting...Read More
CryptoPotato had the opportunity to host a discussion with Lennix Lai – the Financial Markets Director at OKEx. Established in 2017, OKEx is one of the leading cryptocurrency exchanges in the world by means of trading volume and is also a big player in China. We took the opportunity to discuss, first hand, what’s currently...Read More
Hive Blockchain Technologies Ltd, the cryptocurrency mining firm that went public in 2017, has purchased more than 3,000 mining devices. The machines, MicroBT WhatsMiner M30S, should increase the firm’s overall Bitcoin hash rate by nearly 50%. HIVE Buys 3,019 Miners The company announced its latest purchase in a press release on July 12th. The equipment...Read More
The investment firm IBC Group, which has significant cryptocurrency mining operations in China, announced its intentions to close down all its Bitcoin and Ethereum mining facilities throughout the country. Instead, the organization plans to move its workers to Canada, the USA, the UAE, Kazakhstan, Iceland, and numerous South American nations. IBC Group Leaves China As...Read More
China’s crackdown on bitcoin mining has caused severe damage to local businesses. Owners of small hydroelectric power plants have decided to put for sale their operations, promising that they can be used for BTC mining. Illegal BTC Mining in China to Go on? As it has become painfully clear for the cryptocurrency community, China doesn’t...Read More
The financial analyst and Global Head of Equity Strategy at Jefferies – Christopher Wood – opined that the Chinese officials want no competition for its digital renminbi. That is why they enforced the crackdown on bitcoin and other cryptocurrencies lately. China Cares About its CBDC Not Carbon Footprint Christopher Wood – the prominent financial analyst...Read More
The effects of the Chinese crackdown on Bitcoin mining continue to harm the network as the hash rate has dumped to its yearly low of below 90 Ehash/sec. This comes just days before the next difficulty adjustment, which is expected to be one of the largest in BTC’s history. Bitcoin Hash Rate Drops to Yearly...Read More
During a recent interview with Bloomberg, the prominent BTC bull spoke about the adverse short-term effects of China’s recent crackdown on Bitcoin mining. While he acknowledged the hash rate and price declines, Saylor believes this ‘mistake’ from the Asian country will provide an excellent opportunity for others. As CryptoPotato reported previously, the world’s most populated...Read More
Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities. According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to...Read More
The consequences of the nationwide Chinese crackdown on Bitcoin mining are more than evident in a few short weeks. The hashrate has dropped dramatically by nearly 50% from its peak, the number of daily issued coins has declined, and the Puell Multiple has reached a multi-month low. The Effects of the Chinese Crackdown Although Bitcoin...Read More
