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” Crypto Biz: Did Michael Saylor buy the Bitcoin bottom for once? “ Business intelligence firm MicroStrategy is showing no signs of backing down on its Bitcoin gambit. Right around the time that Sam Bankman-Fried was being exposed as a fraud, MicroStrategy was scooping up more Bitcoin (BTC) — this time, the firm bought as…
” Mike Novogratz calls Helios a ‘transformative acquisition’ for Galaxy “ Galaxy Digital Holdings CEO Mike Novogratz has called the Helios mining deal a “transformative acquisition” for the firm as it works to increase its exposure to the Bitcoin mining sector. The crypto investment firm’s $65 million acquisition of Argo Blockchain’s flagship mining facility was…
” Bitcoin mining pool BTC.com reports $3M cyberattack “ Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers. BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client assets and $2.3 million in the company’s assets, the mining…
” Blockware sued over alleged misrepresentation of miners’ performance “ London-based Faes & Company filed a complaint against crypto mining firm Blockware Solutions LLC on Dec. 17, claiming it misrepresented the performance capability of its miners and lacked adequate power access to keep the machines running. Plaintiffs allege losses of $250,000 and are seeking compensatory…
” Public Bitcoin mining companies plagued with $4B of collective debt “ The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market. <p>The recent bankruptcy filing of Bitcoin (BTC) miner Core Scientific despite a $72M relief offer from creditors raised questions about…
” Crypto Biz: Contagion engulfs Bitcoin miners as bear market continues “ Never underestimate how quickly things can deteriorate in a sector as volatile as crypto, especially in a bear market. Prices can always go lower in the depts of crypto winter and casualties can multiply overnight. 2022 has been a year of never-ending contagion;…
” BTC miner Core Scientific gets interim nod for $37.4M bankruptcy loan “ A U.S. bankruptcy court has granted Bitcoin (BTC) miner Core Scientific interim approval to access a $37.5 million loan from existing creditors to fund the firm amid its liquidity issues. Core Scientific is one of the largest cryptocurrency mining companies in the…
” British Columbia to halt new power connections for crypto miners “ A state-owned electric utility provider in the Canadian province of British Columbia is set to halt all new electricity-connection requests from cryptocurrency miners for a period of 18 months. The British Columbia government made the announcement in a statement on Dec. 21 stating…
” Bitcoin miner Core Scientific reportedly files for Chapter 11 bankruptcy “ Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC…
” ‘Wave lower’ for all markets? 5 things to know in Bitcoin this week “ Bitcoin (BTC) starts the week before Christmas with a whimper as a tight trading range gives BTC bulls little cheer. A weekly close just above $16,700 means BTC/USD remains without major volatility amid a lack of overall market direction. Having…