Cryptocurrency Mining | ForkLog

ForkLog 8 02.09.2024

Bitcoin Miners’ Revenue Hits 11-Month Low

In August, the revenue of Bitcoin miners fell to $827.56 million, the lowest since September 2023, according to BiTBO. Data: BiTBO. Compared to July, the figure decreased by 10.5%. In August of the previous year, the value had increased by 5%. In March 2024, amid a price surge to ATH, revenue reached $1.93 billion. Relative […]

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ForkLog 13 30.08.2024

Cryptocurrency Mining Farm Discovered at Ski Base in Leningrad Region

Law enforcement officials have uncovered an illegal cryptocurrency mining farm composed of graphics cards at the Kavgolovo training centre in the Vsevolozhsky district of the Leningrad region, as reported by 47news. The 25 devices, powered by a private gas-fired thermal power station, were located within an indoor ski tunnel with artificial snow. They were monitored […]

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ForkLog 15 30.08.2024

Loka Mining Introduces Forward Contracts for Bitcoin Miners

Andy Fajar Handika, co-founder and CEO of Loka Mining, introduced the concept of forward contracts on future hashrate to attract funding for miners in an interview with Cointelegraph. Small industry players can sell their anticipated computational power for fiat loans, explained the entrepreneur, outlining the tool’s essence. Handika believes forwards will enable miners to finance […]

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ForkLog 17 30.08.2024

ViaBTC and CoinEx CEO Haipo Yang on bitcoin’s price, AI and mining — a wide-ranging interview

In 2024 the ViaBTC mining pool entered the top three by hashrate on the Bitcoin network, mined halving block #840,000 and marked its eighth anniversary. We spoke with the founder of ViaBTC and the cryptocurrency exchange CoinEx, Haipo Yang, about the halving’s impact on the price of digital gold, the role of meme tokens and […]

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ForkLog 9 30.08.2024

Solo Miner Strikes Bitcoin Block, Earning Nearly $200,000

On August 29, a solo miner successfully added block #858 978 to the blockchain of the first cryptocurrency, earning 3.275 BTC ($199,101) in subsidies and fees. Source: mempool.space. CKPool administrator Con Kolivas noted that the user possesses a substantial hash rate for solo mining—38 PH/s. According to his estimation, this level of performance would allow […]

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ForkLog 16 29.08.2024

IREN’s Bitcoin Mining Yields $184 Million in Annual Revenue

IREN, formerly known as Iris Energy, mined 4191 BTC in the fiscal year 2024, achieving a record mining revenue of $184.1 million. $IREN reported FY24 results — Record Adj. EBITDA of $54.7m— Record mining rev. of $184.1m (4,191 Bitcoin mined)— AI Cloud Services rev. of $3.1m— $404.6m cash, no debt— 15 EH/s installed; on track […]

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ForkLog 9 29.08.2024

Bitcoin Mining Difficulty Rises Nearly 3%

The latest recalibration has seen the difficulty of mining the leading cryptocurrency increase by 2.99%, reaching 89.47 T. Source: BTC.com The interval between blocks since the last adjustment has shortened to less than nine minutes, with the average hash rate peaking at 718.28 EH/s. This indicates that Bitcoin miners continue to integrate high-performance equipment of […]

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ForkLog 19 27.08.2024

Bitcoin Miner Rhodium Files for Bankruptcy with Debts Up to $100 Million

Mining company Rhodium Enterprises has filed a bankruptcy petition under Chapter 11 of the U.S. Bankruptcy Code. The filing in a Texas court also includes six subsidiaries: Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW, and Rhodium 30MW. According to the document, the firm’s debts range from $50 million to $100 million, with […]

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ForkLog 9 26.08.2024

Bernstein Highlights Institutional Interest in Bitcoin Miners

Institutional investors are drawn to mining companies for their potential in the AI sector, yet they may ultimately benefit unexpectedly from a cryptocurrency bull run. This is reported by Decrypt, citing a Bernstein report. “If our forecast of a $200,000 Bitcoin price proves accurate, investors will come for AI but may end up enjoying the […]

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ForkLog 14 26.08.2024

Thai Authorities Shut Down Illegal Bitcoin Farm Amid Power Outages

Authorities in Thailand conducted a raid on an illegal mining operation following residents’ complaints about frequent power outages, as reported by SCMP. On August 23, police and provincial officials searched a house in the city of Ratchaburi, the administrative center of the province of the same name. “We found bitcoin mining rigs, indicating that people […]

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ForkLog 7 23.08.2024

JPMorgan Assesses US Bitcoin Mining Market at $74 Billion

The US market for mining the leading cryptocurrency is valued at $74 billion, according to estimates from JPMorgan, reports CoinDesk. This figure corresponds to the value of 1.3 million BTC available for mining at current price levels, the institution explained. The report indicates that block formation revenues over the next four years will amount to […]

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ForkLog 11 21.08.2024

Bitfarms to Acquire Stronghold Digital for $125 Million

Canadian mining company Bitfarms has entered into a definitive agreement to acquire its American competitor, Stronghold Digital Mining, in a deal valued at approximately $125 million. We are pleased to announce that #Bitfarms has entered into a definitive agreement to acquire @Stronghold_DM. Stronghold brings to Bitfarms vertically integrated crypto asset mining operations and access to […]

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