On Tuesday, bitcoin mining company Bitfarms, listed on the Nasdaq and Toronto Stock Exchange (TSX), announced it has secured an additional 100 megawatts (MW) of power from Paraguay’s state-owned utility firm, ANDE. The 100 MW is anticipated to double the capacity of the hydro-powered Yguazu site and should be fully operational by 2025. Bitfarms to…
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Russian authorities have reportedly proposed to impose hefty fines on suspected crypto miners operating from residential properties. Authorities may also consider including amendments to the Code of Administrative Offenses which imposes liability on those misusing electricity. Proposed Measures Aimed at Curbing Rising Power Outage Cases Authorities in Russia have signaled their intention to pursue private…
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Bitcoin faces a pivotal period that echoes the past block size wars, according to Bitcoin Core contributor Matt Corallo. In a recent blog post, Corallo examines the ongoing struggles within the Bitcoin community that could determine the future of the pioneering cryptocurrency. From Freedom to Fragmentation In his latest blog post, Matt Corallo outlines the…
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In the first quarter of 2024, Cleanspark, a U.S. bitcoin mining company listed on the stock market, reported revenues exceeding $111.8 million. The company’s net income for the same period was $126.7 million. Gary A. Vecchiarelli, the CFO of Cleanspark, partially attributes the company’s “record-breaking” performance to the surge in bitcoin prices. Impact of Bitcoin…
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Based on the three-day simple moving average, Bitcoin’s hashrate has continued its downward trend, registering at about 550 exahash per second (EH/s). Following the halving, onchain costs have decreased significantly, with data indicating transfer fees ranging from $1.50 to $3.65 per transaction. Bitcoin’s Hashrate Slides 19% in 16 Days According to statistics, the three-day simple…
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Core Scientific announced its financial results for the first quarter of 2024, highlighting a significant recovery with a net income of $211 million. According to its latest press release, Core Scientific’s performance this quarter marked a notable improvement from the previous year’s figures. The company attributed this turnaround to an increase in revenue generated from…
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North American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney and Granbury sites. The Halving Effect Hut…
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Just over two weeks have passed since the fourth Bitcoin halving took place. During this period, the network’s hashprice dropped from over $100 per petahash to below $45 at the beginning of May. It has since increased to $50 per petahash. Despite the modest rebound, the network’s total hashrate has experienced a decrease, with a…
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On May 3, the Bitcoin network validated its largest block to date at block height 841,886, which included an inscription showcasing the technology stack dubbed Logos’ manifesto. This block, similar to the one that previously held the record as the largest, was mined by Marathon. Record-Setting 841,886 Bitcoin Block Mined, Outpacing Previous Milestone Marathon has…
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Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Modest Growth Noted…
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