Mining

Mummolin, Inc. has announced a significant milestone in its cryptocurrency project OCEAN, having raised $6.2 million in seed funding. This round, led by Jack Dorsey, along with other investors, marks a pivotal step towards decentralizing Bitcoin mining. As a project under Mummolin, Inc., a successor to the Eligius Bitcoin mining pool, OCEAN is pioneering a […]

On 11 October 2023, analysts Reginald L. Smith and Charles Peace from J.P. Morgan’s North American Equity Research department published a note that provides a thorough examination of the Bitcoin mining industry. The note, titled “Bitcoin Mining: Expanding Coverage (Initiating Coverage on CIFR, CLSK, RIOT, and MARA),” offers valuable insights for investors and industry stakeholders. […]

Tether, the company behind the well-known stablecoin, has announced its expansion into the renewable energy sector and sustainable Bitcoin mining in Uruguay. This move marks a significant diversification of Tether’s operations, extending beyond its traditional financial and communications activities. Tether is planning to invest in renewable energy sources to support Bitcoin mining operations in partnership […]

The Kingdom of Bhutan and Bitdeer have joined forces to create a sustainable future for cryptocurrency mining, with plans for a carbon-free operation. Bitdeer Technologies Group, a leading cryptocurrency mining technology company, and Druk Holding & Investments (DHI), the commercial arm of the Royal Government of Bhutan, have announced a strategic partnership to develop environmentally […]

Beneath the towering peaks of the Himalayas, Bhutan, a small kingdom known for measuring Gross National Happiness, hides a tech-driven secret: a thriving Bitcoin mining operation. In an article by Forbes (published earlier today) titled “The Kingdom Of Bhutan Has Been Quietly Mining Bitcoin For Years,” it was revealed that Bhutan has been using its […]

Bitcoin mining, a critical facet of the cryptocurrency ecosystem, has again seized the spotlight. Earlier today, crypto analyst “Crypto Rand” highlighted a significant rise in Bitcoin Mining Difficulty – a surge of over 30% since January 13, 2023. And a couple of hours ago, the world’s largest crypto exchange by trading volume, pointed out that […]

If you’ve been around the crypto realm for a while, you’ve surely come across the term Bitcoin mining. While an appealing practice, there are some factors to consider before you go and buy your first mining rig, including how much Bitcoin you can mine in a day. Bitcoin mining, for some, is a painfully expensive […]

Value investor Mike Alfred recently shared his insights on Bitcoin mining firms on Twitter, emphasizing their potential as an attractive investment opportunity in today’s market. Alfred states these companies possess significant operating leverage as Bitcoin prices rise. While many conventional investors might view them as risky, he believes that mining firms represent one of the […]

Mississippi’s state Senate has passed a bill to protect cryptoasset miners from being discriminated against on electricity rates.  According to a report by Cointelegraph, the state Senate has passed the Mississippi Digital Asset Mining Act, which now awaits its companion bill to make it through the state’s House of Representatives.  The bill, authored by state […]

On Monday (26 December 2022), Thomas Dunleavy, Senior Research Analyst at Messari, looked at $BTC selling by Bitcoin miners in 2022. Dunleavy said: Messari Co-Founder Don McArdle offered this reply to Dunleavy’s tweet: “Iirc, before a big % of mining was done by a bunch of debt-financed public cos, miners tended to hodl a fair […]

Microsoft has quietly updated the license terms for its online services such that customer can no longer “mine cryptocurrency without Microsoft’s prior written approval.”   As The Register first reported, the update to the Universal License Terms for Online Services became effective on 1 December 2022. The Acceptable Use Policy states: “Neither Customer, nor those that […]

Miners in Russia have remained unfazed by the crypto bear market and are using the opportunity to hoard ASIC devices.  According to a report by Cointelegraph, citing Russian news agency Kommersant, the demand for crypto mining hardware by Russian customers has surged during the final quarter of the year. Several crypto mining distributors in Russia […]

Glassnode, the startup behind “the world’s leading blockchain data and intelligence platform”, seems concerned about Bitcoin miners. Earlier today (6 December 2022), Glassnode said: “The Bitcoin protocol has just decreased mining difficulty by -7.3%, the largest downwards adjustment since July 2021. Given depressed coin prices, rising energy costs, and debt burdens, the mining industry is […]

On Tuesday (29 November 2022), Jason A. Williams, a founding partner of Morgan Creek Digital Assets, and the author of the book “Bitcoin: Hard Money You Can’t F*ck With“, explained why this could be a great time to buy Bitcoin. Williams told his over 207K Twitter followers: “BREAKING #BITCOIN MINING NEWS : Miner Capitulation is in […]

A recent study compared the negative impact of Bitcoin mining to that of cattle farming and burning gasoline.  According to a report by Bloomberg, researchers at the University of New Mexico in Albuquerque have found that Bitcoin mining’s impact on the climate is comparable to other negative influences, such as farming cattle and gasoline burning, […]

As Bitcoin Magazine pointed out on Thursday (4 November 2022), it looks like you can now buy all kinds of Bitcoin-related products at American multinational retail corporation Walmart; this includes ASIC-based Bitcoin mining hardware from Bitmain. The most expensive Bitcoin mining product they seem to offer is Bitmain Antminer S19J Pro (released in November 202), […]

On Thursday (October 27), in a filing with the U.S. Securities and Exchange Commission (“SEC”), Core Scientific (Nasdaq: CORZ), which is one of the world’s largest publicly-traded crypto mining companies, disclosed that it was having financial difficulties, which could lead to the firm going bankrupt. Core Scientific has three lines of business: “Purpose-built development and […]

On Wednesday (September 14), Michael Saylor, Co-Founder and Executive Chairman of business intelligence software company MicroStrategy Inc. (NASDAQ: MSTR), decided to address some of the “misinformation & propaganda” surrounding the impact of Bitcoin mining on the environment. It is worth remembering that on 11 August 2020, MicroStrategy announced via a press release that it had “purchased 21,454 bitcoins at […]

Crypto mining requires huge amounts of electricity and is becoming less profitable due to the cryptocurrency market downturn. To avoid a mining ban and continue to earn, miners are switching to green mining to get the cheapest energy possible. Bitcoin mining requires more and more energy because of increasing difficulty in opening each subsequent block. […]

On Saturday (August 6), popular pseudonymous crypto analyst “Hasu”, who is the Stratey Lead at Flashbots, shared his latest thoughts on a potential upcoming fork of Ethereum around the time of Ethereum’s “Merge” hard fork (which is when the Ethereum network is making the transition from proof-of-work to proof-of-stake). Flashbots is “a research and development […]

Litecoin (LTC), created by former Google employee Charlie Lee, was released in 2011 as an alternative to Bitcoin and has gained popularity ever since, with various users mining it. With new crypto miners coming on board every day, many people wonder how long it takes to mine 1 Litecoin. After all, finding out how much […]

A new luxury residential development being built in Belgrano, a prestigious neighbourhood in Argentina’s Capital Buenos Aires, calls itself a “crypto building” since a Bitcoin mining farm installed in the basement will help the owners with paying the building’s expenses. Newlink Capital, the developer behind “Next Pampa 2.0“, says that this is “an intelligent residential building that […]

On Saturday (July 16), U.S. Senator Dick Durbin made it very clear that he is not happy with the energy consumption of crypto mining. Senator Dick Durbin, is “a Democrat from Springfield, is the 47th U.S. Senator from the State of Illinois, the state’s senior senator, and the convener of Illinois’ bipartisan congressional delegation.” He […]

On Tuesday (July 5), Core Scientific, Inc. (NASDAQ: CORZ), “a leader in high-performance blockchain data centers and software solutions”, explained why it had to sell 7,202 of the bitcoins on its balance sheet. Core Scientific has “operated blockchain data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital […]

Australian crypto miner Joe Bridge recently explained how he was able to buy his first house, boats, and motorcycles using the small fortune he amassed from crypto mining. According to a report by Australia’s ABC published on June 30, the 38-year-old first became involved in crypto mining in 2013 while living with his parents in […]

Despite the ban on Bitcoin mining in China, the industry appears to be thriving.  A report by CoinDesk published on May 17 says that — “according to the CCAF’s Bitcoin Electricity Consumption Index (CBECI), which maps the mining activity around the world based on the geolocational data reported by partnering pools” — China was the […]

The Norwegian Parliament voted down a proposal banning Bitcoin mining, allowing the crypto mining industry to continue to thrive in the country.  According to a report by Cointelegraph, the proposal — first suggested in March by the Red Party — was rejected by a parliamentary vote on May 13. The ban failed to gain political […]

A major Australian Bitcoin mining firm does not appear concerned about profitability of its operation despite the current bear market. According to a report by The Sydney Morning Herald on May 12, Daniel Roberts, co-founder and CEO of Australian-founded sustainable Bitcoin mining company Iris Energy remains unmoved by the rapid changing $BTC price. Roberts, based […]

Cryptographic hash functions are vital security components of current computers. They form a key part of digital signatures, message authentication codes, and other security protocols. So far, there are four series of cryptographic hash functions generally known as Secure Hash Algorithms (SHA). These are SHA-0 (published in 1993), SHA-1 (published in 1996), SHA-2 (published in […]

Fort Worth city council has approved a pilot Bitcoin mining project as part of a set of measures designed to make the city become a leading technology hub. According to a report by CNBC, Fort Worth’s mayor Mattie Parker oversaw the construction of a small mining farm in City Hall in order to mine Bitcoin. […]

One enterprising Bitcoin miner is using the energy produced by his mining hardware to heat his swimming pool.  According to a report by Cointelegraph, Minnesota-based Bitcoin mining enthusiast Jonathan Yuan wanted a solution for his children’s love of swimming. Yuan said his kids were unable to use their swimming pool for the majority of the […]

Intel has unveiled its latest application-specific integrated circuit (ASIC) chip, which will “provide customers with energy-efficient hashing for proof-of-work consensus networks.” On April 4, Intel Corporation issued a press release to announce details of the Intel Blockscale ASIC.  Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group, […]

In a New York Times (NYT) article — published yesterday (March 22) — about the crypto mining industry’s focus on renewable energy, it was mentioned that according to some estimates “a single Bitcoin transaction now requires more than 2,000 kilowatt-hours of electricity.” The NYT article, which was written by technology reporter David Yaffe-Bellany, started by […]

Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) says that institutional investors concerned about the environmental impact of Bitcoin have found a new — albeit indirect way — to own “green” Bitcoin. According to the transcript (by The Daily Hodl) of an interview that was released on his YouTube channel last Friday […]

Kimbal Musk, the brother of Tesla Co-Founder and CEO Elon Musk, says that the electric vehicle manufacturer was originally “very ignorant” of Bitcoin’s environmental concerns when it added BTC to its balance sheet.  As you may remember, on 8 February 2021, Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC) on […]

On Sunday (February 20), Intel unveiled its second generation Bitcoin mining ASIC, which is called Bonanza mine (BMZ2). On February 16, Intel Corporation CEO Patrick Gelsinger explained how his company’s upcoming crypto mining chip could help to solve Bitcoin’s “climate issue”. According to his LinkedIn profile, Gelsinger started his career in October 1979 by becoming senior vice president and […]

Yesterday (February 16), Intel Corporation CEO Patrick Gelsinger explained how his company’s upcoming crypto mining chip could help to solve Bitcoin’s “climate issue”. According to his LinkedIn profile, Gelsinger started his career in October 1979 by becoming senior vice president and the general manager of the Digital Enterprise Group, and he kept these positions for […]

A recent report claims that America’s Bitcoin miners are increasingly finding the state of Georgia attractive as a base of operations.  According to a report by Bloomberg published on February 7, the U.S. has become the world’s top destination for crypto miners following China’s ban on crypto mining (with its energy-intensive practices). Hundreds of thousands […]

Texas Governor Greg Abbott is welcoming Bitcoin miners to his state, claiming that the new industry of digital asset mining could help stabilize the electricity grid which struggles to keep up with demand.  According to a report by Decrypt, Governor Abbott, alongside several other prominent Texas politicians including Senator Ted Cruz and Austin Mayor Steve […]

A top European securities regulator says that the EU should consider banning energy-intensive forms of crypto mining. Speaking in a recent interview with the Financial Times, vice-chair of the European Securities and Markets Authority Erik Thedéen argued Bitcoin mining has become a national issue and warned of the risks posed to the environment and climate […]

The government of the Republic of Kosovo has caused a panic among crypto miners in the Balkan country after announcing that it would temporarily ban all crypto mining activities.  According to a report by The Guardian, crypto miners are selling the mining equipment at bottom-barrel prices in an effort to recoup some of their investment […]

Bitmain is adding liquid cooling technology to its latest Bitcoin mining rig, the Antminer S19 Pro+ Hyd. According to a report by CoinDesk, Bitmain, one of the world’s largest Bitcoin mining rig manufacturers, has added liquid cooling technology for the first time in its latest product release. The Antminer S19 Pro+ Hyd., will have a […]

A recent report by The New York Times (NYT) explains why there is currently a “Bitcoin boom” in the Empire State.  According to a NYT report published on December 5, cheap power and lax regulations have led to a Bitcoin mining industry to thrive in New York state. The report talks about a new Bitcoin […]

Recently, TikTok influencer Hai Dinho explained why and how he is mining Shiba Inu ($SHIB) at home. What Is Shiba Inu ($SHIB)? Here is how South Korean crypto exchange Korbit described this meme-based cryptocurrency when it announced on November 23 that it was going to list $SHIB: “SHIB is inspired by Dogecoin. Last August, anonymous developer Ryoshi developed […]

The supply chain crisis, which has affected the shopping habits of consumers across the globe, has extended to Bitcoin and digital assets.  According to a report by Quartz, mining companies are being hindered by the logjam in the global supply chain, resulting in delayed shipments of “miners,” — Sony Playstation-sized computers that operate exclusively to […]

Jack Dorsey, the American billionaire who is the co-founder and CEO of microblogging platform Twitter and the CEO of payments solutions provider Square, says the latter is “considering” building an “open” Bitcoin mining system. Square was founded in February 2009, or just one month after Bitcoin’s initial release. The three co-founders are Jack Dorsey, Jim McKelvey, and Tristan […]

According to a recent research report, several publicly listed Bitcoin mining companies are holding more than 20,000 BTC (currently worth around $1.15 billion). According to The Block’s report, “based on their latest monthly production data released recently, Riot, Marathon, Bitfarms, Hut8, Greenidge, Argo, and HIVE have mined a total of 6,463 BTC in Q3, which […]

On Wednesday, Blockstream, a firm focused on building “crypto-financial infrastructure based on Bitcoin” announced a partnership with financial services group Macquarie to “develop and manage best-in-class, zero-emission Bitcoin mining facilities.” Blockstream offers three types of Bitcoin mining services: Colocation: You use one of their mining facilities in North America, where you can get access to […]

Two enterprising American boys managed to generate $35,000 a month via an Ethereum ($ETH) mining operation they set up in their garage.  According to a report by Westport News (first reported by The Dallas Morning News), American brothers Ishaan and Aanysa Thakur, aged 14 and 9 respectively, who live in Frisco, Texas, have generated $35K […]

The President of Belarus has recommended the government begin mining cryptoassets with spare electricity.  As Cointelegraph reported yesterday, using Russian news agency RBC as their source, President Alexander Lukashenko spoke at the opening of the Petrikovksky mining and processing plant on August 27, proposing that the state get involved with mining crypto. Lukashenko advised workers […]

Recently, Idan Abada, the owner of an online store (“Bitcoin Merch“) that specializes in crypto mining equipment, shared on TikTok a video of him using “free” electricity at a Starbucks cafe to mine Bitcoin on his laptop via a custom mini mining rig. In this TikTok video, we see Abada, who lives in Los Angeles, […]

A new study from Cambridge University shows that the impact of Bitcoin mining on the environment is not nearly as bad as previously believed.  According to a report by CNBC, data published from Cambridge University shows that the geography of Bitcoin mining has evolved over the past six months, leading to an improvement in the […]

A historic power plant in Mechanicville, New York has decided to switch to mining Bitcoin as a more profitable pursuit in addition to generating electricity.  According to a report by The Albany Times Union, a hydroelectric plant built in 1897 and operated by Albany Engineering Corp., is using a portion of the power it produces […]

This article looks at what analysts and influencers are currently (as of June 28) saying about Bitcoin’s hash rate, mining difficulty, BTC accumulation addresses, and the Bitcoin vs gold debate. On June 26, crypto analyst Lex Moskovski, CIO at Moskovski Capital, used Glassnode data to show that the number of unique accumulation address (or effectively […]

This article takes a closer look at recent reports coming out of China about potential upcoming regulations that could result in a a partial or total ban on Bitcoin mining in that country. Tuesday’s Announcement by Three Chinese Self-Regulatory Organizations Last Tuesday (May 18), Shanghai Securities News (SSN), “China’s leading financial newspaper and the China […]

A Polish computer programmer Maciej Witkowiak has reportedly created open source software for mining Bitcoin on a Commodore 64, a computer that was first released in 1982.  In a post published to GitHub, Witkowiak shared the code he created for users interested in mining BTC via the Commodore 64. According to Witkowiak, his Bitcoin mining […]

Celebrity investor Kevin O’Leary (aka “Mr. Wonderful”) says he will only buy Bitcoin mined sustainably in countries that use clean energy.  Speaking in an interview with CNBC, O’Leary said he would not buy “blood coin” mined in China, and would focus his investments on BTC mined sustainably using clean energy:  “I see over the next […]

An enterprising hardware hacker has modified an original Nintendo Game Boy in order to mine bitcoin. In a YouTube video published by Stacksmashing, the modder was able to hack an original Game Boy in order to mine Bitcoin.  The modder’s primary challenge was getting the Game Boy, released two full decades before the creation of […]

On Wednesday (March 24), within roughly five hours of Elon Musk announcing on Twitter that Tesla is now accepting (in the U.S.) Bitcoin as a means of payment, the Bitcoin price had surged from $54,785 (at 7:01 UTC) $57,044 (at 12.11 UTC), which is currently its intraday high. Currently (i.e. as of 12:58 UTC on […]

Newcrest Mining Ltd. CEO Sandeep Biswas told Bloomberg the rising tides of crypto-assets would drive more investor interest to gold due to its price stability.