Category: Mining

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Bitcoin Miner Riot Secures 66,560 Microbt ASIC Miners to Boost Hashrate by 18 EH/s

December 5, 2023

The bitcoin mining corporation Riot Platforms, a publicly traded firm within the industry, recently announced a significant expansion of its operations. The firm has completed its largest-ever acquisition of application-specific integrated circuit (ASIC) miners, securing 66,560 units of Microbt’s latest Whatsminer M66S models. This substantial purchase is set to boost Riot’s current mining capabilities by…
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Bitcoin Miners’ November Revenue Peaks at $1.16 Billion, Setting 2023 Record

December 4, 2023

November marked a significant milestone in the 2023 revenue generated by bitcoin miners, reaching a peak of $1.16 billion. This month not only stood out in terms of total earnings but also set a record for the highest monthly fees collected by miners within the year. Bitcoin Mining Fees Soar to Yearly High in November,…
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Cornell Study: Bitcoin Can Power Renewable Energy Deployments and Climate Action

December 2, 2023

A recent study led by investigators from Cornell University has outlined how Bitcoin can help finance renewable energy installations by using surplus power even while these facilities are not yet integrated into the U.S. power grid. Texas is said to be one of the states with the most potential. Cornell Study Outlines How Bitcoin Can…
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Report: Bitcoin Miners’ Revenue Down by More Than 30% in the Last 6 Months

December 2, 2023

In the past six months, Bitcoin miners’ revenue has dropped by more than 30%, with November revenues approximately $270 million lower than October revenues. The drop in Bitcoin miners’ revenue is attributed to Bitcoin price volatility, increased competition, and higher electricity prices. Gradual Decline in Miner Revenue Bitcoin miners’ revenues have fallen by over 30%…
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Antpool Surpasses Foundry in Hashrate Battle, Claiming Top Spot in November’s Bitcoin Mining Race

December 2, 2023

Over the past year, the mining pool titan Foundry USA has consistently led the network in terms of hashrate. However, this month, the bitcoin mining operation Antpool has edged ahead of Foundry, albeit marginally, in hashrate rankings. In November, out of the 4,436 blocks that were mined, Antpool was responsible for uncovering 1,218 of them,…
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Iris Energy Acquires 7,000 Next-Gen T21 Bitcoin Miners in Deal With Bitmain

December 1, 2023

The Australia-based and Nasdaq-listed Iris Energy recently announced the acquisition of 1.3 exahash per second (EH/s) capacity in Bitmain’s latest Antminer T21 models. This purchase boosts Iris Energy’s proprietary mining capacity to a notable 8.3 EH/s. Iris Energy Secures 1.3 EH/s in Latest Bitmain Deal Iris Energy (Nasdaq: IREN) announced on Thursday its procurement of…
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Study Reveals Bitcoin Mining as a Catalyst for Renewable Energy Growth and Flexible Load Systems

November 29, 2023

A recently published working paper, collaboratively authored by industry experts, examines the critical influence of bitcoin mining in promoting worldwide clean energy efforts and stabilizing electricity grids. This paper probes into the utility of mining as a flexible and versatile instrument for large-scale demand response in industries and harnessing unused energy resources. Working Paper Highlights…
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With Just 0.0004% of Bitcoin’s Hashpower, Solo Miner’s 2 PH/S Effort Secures Block Reward

November 27, 2023

On November 26, 2023, a stroke of remarkable luck befell a solo miner when they discovered block 818,588, verifying a total of 4,193 transactions. This achievement garnered the miner a total of 6.887 BTC, inclusive of the 6.25 BTC subsidy and transaction fees. Solo Miner’s Slim Odds Pay Off: Claims Bitcoin Block Reward With Mere…
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Bitcoin’s Mining Difficulty Hits Record High With Sixth Consecutive Rise

November 26, 2023

On November 25, 2023, the Bitcoin network marked its sixth consecutive difficulty rise, reaching a new peak at block 818,496. The difficulty soared by 5.07%, setting a record high of 67.96 trillion, a level that will persist until the next adjustment on December 9, 2023. Bitcoin’s Difficulty Jumps 5% and Over 23% Higher During the…
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UAE’s Bitcoin Mining Firm Phoenix Group Secures $370 Million in Oversubscribed IPO

November 24, 2023

The United Arab Emirates (UAE) is making its entry into the bitcoin mining sector. In a recent declaration by Phoenix Group PLC, a bitcoin mining enterprise, it was revealed that the company successfully garnered $370 million through an initial public offering (IPO) that was highly sought after, achieving a 33-fold oversubscription. UAE Forges New Path…
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