“During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations,” according to CFO Jeff Lucas. Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On…
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The Bitcoin network has a 31:1 positive to negative ratio, according to climate tech VC Daniel Batten. A climate tech investor has painted a bright view of the Bitcoin network, suggesting its environmental positives outweigh its negatives by a whopping 31:1 ratio. On Jan. 12, self-proclaimed philanthropist and environmentalist Daniel Batten claimed in a Twitter…
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Bitcoin’s mining difficulty, the measure of how difficult it is to find a new block and add it to the blockchain, is set to increase significantly on Jan. 15, 2023, according to current estimates. At the time of writing, Bitcoin’s mining difficulty appears to be on track for a 10% increase, rising from 34.09 trillion…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Expelled Chinese Communist Party Official Shamed on TV for Supporting Crypto Mining, Nigeria Considering a Regulatory Framework for Stablecoin Implementation Read more »Sign up for e-EUR – the…
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Former Chinese Communist Party member Xiao Yi seemed to speak with a very subdued voice from what appeared to be prison, apologizing for supporting a Fuzhou crypto mining firm. Xiao Yi, the former Chinese Communist Party secretary of Fuzhou, has confessed to “acting recklessly” in support of crypto mining during a state-run television broadcast. In…
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During the first week of the new year, Bitcoin’s hashrate reached an all-time high (ATH) on Jan. 6, 2023, at block height 770,709. The network recorded a milestone of around 361.20 exahash per second (EH/s) on Friday, jumping more than 4% higher than the previous record of 347.16 EH/s recorded on Nov. 12, 2022. Network’s…
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Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy. New Year Brings Higher Costs…
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Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract. Celsius…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Indonesia to Launch Crypto Exchange, India’s Exchanges Lost 81% of Trading Volume, UK’s National Crime Agency Forming a ‘Crypto Cell’ Read more »Sign up for e-EUR – the…
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Public Bitcoin miners will actively work to minimize costs in 2023 by going private or merging with other firms, Hash Rate Index analysts predicted. After a shocking year for Bitcoin (BTC), public miners will focus on strengthening balance sheets and minimizing costs this year, according to industry analysts. Bitcoin mining cost minimization will likely lead…
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