Category: Mining


A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity


A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as […]



Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US


Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the USOne of the world’s biggest bitcoin mining machine manufacturers is preparing to go public in the United States. China-based Whatsminer is reportedly looking to obtain additional funds to buy Samsung chips with the initial public offering (IPO). Whatsminer’s Revenue Could Hit $1 to $2 Billion in 2021 According to Chinese media outlets and Asian journalist […]




Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy


Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost EconomyThe government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its […]


Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate


There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation […]


Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High


Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time HighThe Bitcoin network’s hashrate has been operating at very high processing speeds during the last few weeks, as the overall hashrate touched a whopping 171.2 exahash per second (EH/s) on Monday. Moreover, the network’s mining difficulty has also touched an all-time high (ATH) at 20.61 trillion, the highest difficulty the network has ever experienced in […]



Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines


Publicly-Listed Chinese Lottery Company Plans to Spend $14.4 Million Into Bitcoin Mining MachinesA U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]


Central Washington Raises Concerns Over Possible Bitcoin Mining Boom


A region in the Pacific Northwest of the United States is on high alert because of concerns about a possible invasion of bitcoin (BTC) miners. The state has previously experienced an influx of Chinese bitcoin miners, due to decreasing electricity prices. Bitcoin Bull-Run Could Revive Interest in Mining, Officials Warn Per the Seattle Times, bitcoin’s […]


Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining Devices


Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining DevicesThe firm Gazpromneft, an oil subsidiary of the Russian natural gas and global energy company Gazprom, is giving bitcoin mining operations the chance to power operations by using excess gas for electricity. The Russian firm has allowed a small mining operation to benefit from the excess gas by mining bitcoin on-site at the oil field. […]



Canaan Launches Submerged Liquid-Cooled Bitcoin Miner, Noiseless Device Boasts 50 Terahash


The publicly listed ASIC mining rig manufacturer, Canaan, has announced the launch of a new submerged liquid-cooled bitcoin miner called the Avalonminer A1066I. Canaan claims the new immersion cooling miner is noiseless and capable of significant overclocking, as the miner’s cooling system increases power efficiency by 78%. The China-based and Nasdaq-listed bitcoin mining rig manufacturer, […]

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Record-Low Electricity Prices in Sweden Make It ‘a Lucrative Place’ to Mine Bitcoin, Says Report


Record-Low Electricity Prices in the Nordic Region Make It 'a Lucrative Place' to Mine Bitcoin, Says ReportBitcoin miners are finding the Nordic lands a profitable opportunity to boost their revenues due to a plunge in electricity prices at the cheapest levels than any other well-known places for crypto mining. Bitcoin Miners Could Find ‘Lucrative’ Opportunities in Norway and Sweden According to a Bloomberg report, the Nordic region, specifically Norway and Sweden, […]

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Chinese Miners Migrate to Nordic Regions, Mining Exec Says Hashrate Migration One of the ‘Biggest Developments’


China has the largest concentration of bitcoin miners worldwide with estimates noting the country captures anywhere between 50-65% of the global hashrate. Xinjiang, the autonomous region of the People’s Republic of China, ostensibly accommodates 35% of the hashrate. This week a regional report from China and statements from the head of operations at Genesis Mining, […]

The post Chinese Miners Migrate to Nordic Regions, Mining Exec Says Hashrate Migration One of the ‘Biggest Developments’ appeared first on Bitcoin News.


Bitcoin Miners Earn Over $1 Million per Hour — Revenue Increases 185% Since the 2020 Halving


Bitcoin Miners Are Earning Over $1 Million per Hour — an Increase of 185% Since the 2020 HalvingBitcoin miners have been yielding a very profitable year in monthly revenues, as the latest onchain data shows significant figures at its highest levels since 2019. Hourly Bitcoin Mining Revenues Hits 2019 Highs According to Glassnode, BTC miners are currently earning $1 million per hour, meaning an increase of 185% since the halving happened in […]

The post Bitcoin Miners Earn Over $1 Million per Hour — Revenue Increases 185% Since the 2020 Halving appeared first on Bitcoin News.


Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1B


Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1BWhile bitcoin’s value has captured new all-time price highs, a number of publicly listed bitcoin mining operations have seen significant profits. The U.S.-based firm Riot Blockchain’s market valuation recently obtained a $1 billion capitalization. Meanwhile, a number of other bitcoin mining business operations have seen colossal demand for company shares. Riot Blockchain, Inc. (Nasdaq: RIOT) […]

The post Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1B appeared first on Bitcoin News.




Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performance Bitcoin Miners


Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performance Bitcoin MinersOn December 28, the publicly listed firm Marathon Patent Group announced the purchase of 70,000 Antminer S19 bitcoin miners from Bitmain for $170 million. Marathon expects the shipments to complete in 2021, giving the mining operation over a hundred thousand ASIC miners or more than ten exahash of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed […]

The post Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performance Bitcoin Miners appeared first on Bitcoin News.


China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’


China's Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners 'Heavily Affected'Regional reports from China detail that bitcoin miners located in certain areas in South China are running short on electricity. The country has been having massive issues with coal prices soaring across the mainland, as the Chinese government hasn’t been allowing coal carriers into ports. Because of the sweeping electrical shortages, mining activities have been […]

The post China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’ appeared first on Bitcoin News.



Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion


Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility ExpansionOrganizations led by an environmental organization filed a lawsuit against the U.S. town Torrey in New York for giving the green light to expand a bitcoin mining facility at the Greenidge Generation power plant. Environmental Organization Leads Lawsuit Against New York Town for Approving Plan to Expand BTC Mining Facility Per court documents, the Sierra […]

The post Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion appeared first on Bitcoin News.


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