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“# Ohio to host BIT Mining’s new 85 MW Bitcoin mining facility ” Bitcoin (BTC) mining company BIT Mining plans to invest $12.14 million to develop an 85 megawatts crypto mining center in Ohio. As the company that owns the entire mining pool business operated under BTC.com, BIT Mining set up a joint venture agreement…
“# Bitcoin mining difficulty surges 31% since July ” As the Bitcoin network hash rate continues to recover amid global miners accumulating more capacity, the cryptocurrency is getting increasingly difficult to mine. On Tuesday, the Bitcoin network posted another mining difficulty adjustment, rising 3.2% to hit a difficulty rate of nearly 19 trillion, according to data…
“# Bitcoin mining estimated to represent 0.9% of global carbon emissions in 2030 ” A new study from the New York Digital Investment Group (NYDIG) has projected that Bitcoin’s energy consumption will remain below 0.5% of the global total over the next decade. NYDIG published its ‘Bitcoin Net Zero’ research paper this month, finding that…
“# Miners have accumulated $600M worth of Bitcoin since Feb ” Bitcoin miner are accumulating as the network hash rate continues to recover according to on-chain analytics provider Glassnode. In its Sept. 20 Week on Chain report, glassnode has stated that miner BTC balances are increasing, with wallets associated with miners having stockpiled 14,000 BTC…
“# 100 years ago, Henry Ford proposed ‘energy currency’ to replace gold ” In 1921, American industrialist Henry Ford proposed the creation of an “energy currency” that could form the basis of a new monetary system — offering striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper. Front…
“# Bitcoin miner maker Canaan records highest quarterly profit since 2019 IPO ” Despite the price decline for Bitcoin (BTC) in Q2 2021, mining hardware maker Canaan has recorded significant business gains during the period. According to Canaan’s unaudited Q2 financials published on Tuesday, the company recorded over $1 billion Chinese renminbi (about $167.5 million)…
“# 2021’s BTC energy use passes 2020’s, as study claims each tx produces 272g of e-waste ” A new study suggests that Bitcoin has already used more power so far this year than it did in all of 2020. By the end of the year, the Bitcoin network will have consumed 91 TW/h (terawatt-hours or…
“# Hebei is the latest China province to wield the crypto crackdown hammer ” Hebei, a province in Northern China, is its latest jurisdiction to read the riot act to crypto miners and traders. According to Reuters on Tuesday, the province’s cyberspace commission has announced plans to curtail cryptocurrency mining and trading activities in the…
“# Bitcoin miner Greenidge set for Nasdaq listing through merger ” Bitcoin mining and power generation company Greenidge is set to complete a merger with customer and technical support solutions provider Support.com to become the latest publicly listed mining firm. Once the merger transaction is complete, Support.com Inc. will become a wholly-owned subsidiary of Greenidge…
“# Argo Blockchain secures $25M Bitcoin-backed loan from Galaxy Digital ” Argo Blockchain has secured another loan agreement from Galaxy Digital LP with the mining firm’s Bitcoin (BTC) as collateral. According to an announcement by the London Stock Exchange on Friday, the new Bitcoin-backed loan agreement is to the tune of 18.05 million pounds (about…