Mining – Page 13 – Ƀitsell X

Venezuelan Authorities Seize Over 6,000 Bitcoin Miners in 2 New Operations; Over 17,000 Confiscated In Total

May 26, 2024

Venezuelan authorities led by the National Power Ministry and Corpoelec, the state-owned power company, have seized over 6,000 bitcoin miners in two new operations. The ministry, which recently declared that it would disconnect all bitcoin miners due to its high energy consumption, has already confiscated over 17,000 miners from several mining farms. Venezuelan Authorities Advance…
Read more

Marathon Digital Inks Renewable Energy Deal With Kenya; Crypto Miner to Invest $80M

May 26, 2024

Marathon Digital Holdings and the Kenyan Ministry of Energy and Petroleum recently signed an agreement which sees the crypto mining firm committing to invest $80 million in Kenya’s digital infrastructure. Following the memorandum of understanding (MOU) signing, the Kenyan government will establish a steering committee comprised of ministry officials and executives from Marathon. Joint Steering…
Read more

Shifting Sands of Bitcoin Mining: How Hydro-Cooling Tech is Leading the Charge Post-Halving

May 25, 2024

Now that the halving has occurred and fees are at a six-month low, the profitability of application-specific integrated circuit (ASIC) mining rigs has shifted significantly. It is now essential to ensure electricity is inexpensive and machines are efficient in terms of joules per terahash. The following is an examination of today’s top six ASIC miners…
Read more

Northern Data’s Peak Mining Acquires Second 300-Megawatt Site in Texas

May 24, 2024

According to Peak Mining, a subsidiary of the German bitcoin mining and infrastructure firm Northern Data, the company has announced the purchase of a 300-megawatt ERCOT-approved site in Corpus Christi, Texas. The site is adjacent to another location acquired by the firm in December 2023. Peak Mining Purchases ERCOT-Approved Texas Site Northern Data’s Peak Mining…
Read more

Paraguay Cracks Down on Illegal Bitcoin Mining: Over 550 Miners Seized

May 24, 2024

Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay…
Read more

Bitcoin Difficulty Rises 1.48% Reaching 84.38 Trillion at Block 844,704

May 23, 2024

Bitcoin’s mining difficulty increased by 1.48% at block height 844,704, reaching 84.38 trillion. This adjustment aligns with Bitcoin’s overall hashrate exceeding the 600 exahash per second (EH/s) mark. Bitcoin Network Difficulty Increases by 1.48% On May 23, 2024, at block 844,704, the difficulty adjusted from 83.14 trillion to 84.38 trillion. This rise follows a 5.62%…
Read more

Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy Crisis

May 20, 2024

The Venezuelan National Power Ministry announced a special operation to disconnect all bitcoin mining farms from the grid. Authorities have seized over 11,000 bitcoin miners as the government seeks to reduce the power usage from high-power customers siphoning energy from the national electric system. Venezuelan Authorities Seize and Disconnect Over 11,000 Bitcoin Miners Amidst Energy…
Read more

Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million

May 18, 2024

In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to the company’s persistent sales efforts and…
Read more

El Salvador Reportedly Mined Nearly 474 BTC Using Geothermal Energy

May 16, 2024

El Salvador, the first country to adopt bitcoin as legal tender, has reportedly added 473.5 BTC to its treasury using geothermal energy. According to reports, official data released by The Bitcoin Office of El Salvador (ONBTC) disclosed that this number of bitcoin was mined since 2021 using 1.5 MW of power from the Tecapa volcanic…
Read more

Bitcoin Miners Face Significantly Reduced Earnings in May Despite Bitcoin Price Rise

May 16, 2024

According to the seven-day simple moving average (SMA) statistics regarding Bitcoin’s hashrate, the network hashrate has stayed below the 600 exahash per second (EH/s) mark for approximately one week. The recent rise in bitcoin’s price has positively influenced the overall hashprice as the value of 1 petahash per second (PH/s) daily has climbed above the…
Read more

Category: Mining