Cryptocurrency Mining | ForkLog

ForkLog 7 14.03.2024

Bitcoin Mining Difficulty Reaches New Peak

Following the latest adjustment, the difficulty of mining the leading cryptocurrency increased by 5.79%, setting a new all-time high at 83.95 T. Data: BTC.com. The average hash rate since the previous adjustment was 600.72 EH/s, with the interval between blocks at 9 minutes 27 seconds. On March 11, the smoothed seven-day moving average reached 629.44 […]

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ForkLog 5 13.03.2024

Three Illegal Cryptocurrency Miners Apprehended in Uzbekistan

During official raids in the Tashkent region, three Uzbek citizens were detained on suspicion of stealing electricity for cryptocurrency mining. This was reported by the local State Security Service. One of the offenders, a 31-year-old resident of Yangiyul, illegally connected ten Antminer L3++ ASIC miners to the power grid. The damage to the energy company […]

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ForkLog 8 13.03.2024

US Proposes 30% Excise Tax on Bitcoin Mining Electricity

The administration of US President Joe Biden has proposed a 30% excise tax on electricity used for cryptocurrency mining, such as Bitcoin. Biden administration is proposing a 30% tax on electricity used by #bitcoin miners, even if you are off-grid using your own solar and wind generation. All of the reasons they provide are pretextual, […]

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ForkLog 3 12.03.2024

Bernstein Predicts Miner Stocks to Outperform Bitcoin on Path to $150,000

Shares of mining companies remain the best proxy investments in Bitcoin as the cryptocurrency moves towards the $150,000 target. This view is shared by Bernstein analysts, as reported by The Block. In a note to clients, Gautam Chhugani and Mahika Sapra highlighted that historically, miner stocks have almost always outpaced Bitcoin in growth during bull […]

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ForkLog 17 12.03.2024

Bitfarms Acquires Over 51,000 Bitcoin Miners from Bitmain

The mining company Bitfarms has acquired 51,908 bitcoin mining rigs from the Chinese manufacturer Bitmain. #Bitfarms announces the purchase of an additional ~51,900 new miners. ? Press Release: https://t.co/PVXf8jODTy$BITF $BTC #BitcoinMining pic.twitter.com/gROQdl8jPx — Bitfarms (@Bitfarms_io) March 11, 2024 The firm exercised an option for 28,000 Antminer T21 units and additionally purchased 19,280 similar miners at […]

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ForkLog 14 10.03.2024

Bitcoin Miners Set Record Energy Consumption in February

In February, bitcoin miners consumed a record 19.6 GW of electricity, up from 12.1 GW in the same period the previous year, according to Bloomberg. The agency reports that the recovery in the price of the leading cryptocurrency prompted digital asset mining companies to spend over $1 billion on new equipment since February 2023. In […]

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ForkLog 25 06.03.2024

Bitcoin Mining Output Declines in February

In early March, mining companies reported their performance for the previous month. ForkLog compiled the key figures in one article. Marathon Digital Holdings In February, Marathon Digital Holdings produced 833 BTC — a 23% decrease from the previous month. Data: Marathon Digital Holdings. According to the press release, the hash rate increased by 9% to […]

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ForkLog 12 04.03.2024

Bitdeer Develops 4nm Chip for Bitcoin Mining

Founded by Jihan Wu, Bitdeer has successfully tested its proprietary Bitcoin mining chip, SEAL01, which will be used in its upcoming device, the Sealminer A1. Bitdeer has Tested Its 4nm Bitcoin Mining Chip SEAL01 Bitdeer has successfully designed a Bitcoin mining chip, the SEAL01. As a world-leading technology company for blockchain and high-performance computing, Bitdeer […]

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ForkLog 21 01.03.2024

BitFuFu Lists on Nasdaq via SPAC Merger

BitFuFu, a cloud mining service provider affiliated with Bitmain, has gone public through a reverse merger with the SPAC Arisz Acquisition Corp. We are excited to be @NasdaqExchange !https://t.co/dnsi7H4EdO — BitFuFu (@BitFuFuOfficial) March 1, 2024 According to a press release, the company’s revenues rose to $198.2 million in the first half of 2023. BitFuFu manages […]

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ForkLog 7 01.03.2024

Mining Stocks Plummet Despite Bitcoin Surge

The Valkyrie Bitcoin Miners ETF, which is based on publicly traded mining company stocks, has lost over 20% since February 27, despite Bitcoin’s rise above $64,000. Daily chart of Valkyrie Bitcoin Miners ETF (WGMI) on Nasdaq. Data: TradingView. Shares of two of the industry’s largest companies — Marathon Digital Holdings and Riot Platforms — fell […]

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ForkLog 13 29.02.2024

Russian University Websites Hacked for Cryptocurrency Mining

FSB officers have detained a local resident in Kurgan, suspected of hacking attacks on the websites of Russian state universities. This was reported by Kommersant, citing the agency’s press service. According to the investigation, the 42-year-old from Kurgan allegedly used malicious software to bypass the security systems of several educational institutions with the aim of […]

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ForkLog 11 29.02.2024

CoinShares: Bitcoin ETF Demand Surpasses Mining Output Threefold

The daily growth rate of digital gold reserves in spot bitcoin ETFs is 2800 BTC, while supply increases by only 900 BTC. These estimates were provided by CoinShares, as reported by The Block. The resulting demand shock has further reduced bitcoin balances on centralized exchanges. According to experts’ calculations, the decline from 2020 levels has […]

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