Cryptocurrency Mining | ForkLog

ForkLog 11 27.02.2024

Hut 8 to Establish 63 MW Bitcoin Mining Facility in Texas

Mining company Hut 8 has announced the commencement of construction on a bitcoin mining facility in Culberson, Texas, with an anticipated hash rate of 3.6 EH/s. It’s a great day to build, esp. when it’s at a 40% savings over buying turnkey sites! Construction is underway at our newest site in Culberson County, TX: expected […]

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ForkLog 10 26.02.2024

Bitcoin Miner Thieves Apprehended After Chase in Irkutsk

Traffic police in Irkutsk have apprehended serial thieves of cryptocurrency mining equipment, according to the local Ministry of Internal Affairs. The latest report of stolen ASIC miners was filed on December 25, 2023, by the owner of a tire repair shop where the devices were stored. During the investigation, law enforcement identified the suspects as […]

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ForkLog 13 26.02.2024

Chip Shortage Poses Business Risk for Riot Platforms

The ongoing chip shortage and the need to increase hash rate could negatively impact the financial condition of Riot Platforms, according to the mining company’s annual report. Riot Platforms Reports Full Year 2023 Financial Results, Current Operational and Financial Highlights. $280.7 Million in Total Revenue, 6,626 Bitcoin Produced, and Record Hash Rate Capacity of 12.4 […]

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ForkLog 15 23.02.2024

Riot Platforms Sues U.S. Department of Energy Over Data Collection

The mining company Riot Platforms and the industry group Texas Blockchain Council (TBC) have filed a civil lawsuit demanding a halt to the “emergency data collection” by authorities from the association’s members. The defendants are the U.S. Department of Energy, the Energy Information Administration (EIA) within the department, and the Office of Management and Budget […]

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ForkLog 6 16.02.2024

Galaxy Digital Assesses Hashrate Impact Post-Halving

Approximately 15-20% of Bitcoin’s total computational power will become unprofitable following the halving in April, according to estimates by Galaxy Digital. The research suggests that with the reward reduction, miners will shut down some installations, keeping only the most efficient equipment operational. Analysts estimate that over 70% of Bitcoin’s hashrate is generated by eight models […]

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ForkLog 9 15.02.2024

Bitcoin Mining Difficulty Reaches New High

The latest recalibration has seen the difficulty of mining the premier cryptocurrency rise by 8.24%, setting a new record at 81.7 T.

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ForkLog 9 15.02.2024

Dagestan Leads in Electricity Theft by Miners

In 2023, the total volume of unaccounted electricity consumption by miners in the North Caucasus reached 22.5 million kWh, according to a report from the local branch of Rosseti. Company specialists halted 19 instances of energy theft, resulting in losses amounting to nearly 79.6 million rubles. Sixteen cases of unauthorized connections to power grids for […]

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ForkLog 23 12.02.2024

Marathon Digital Eyes African Expansion for Bitcoin Mining

American mining company Marathon Digital has made global expansion a strategic priority and is considering entering the African market, reports Blockworks. In November 2023, the Florida-based firm began bitcoin mining operations in Paraguay, partnering with Penguin Infrastructure Holding to establish a data center. This venture marks Marathon’s second international project following the launch of a […]

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ForkLog 33 12.02.2024

Chinese Miners Relocate to Ethiopia, Bloomberg Reports

Chinese miners are increasingly choosing Ethiopia as their next hub for operations, following Iran and Kazakhstan, according to Bloomberg. The African nation has banned cryptocurrency trading but approved mining since 2022. According to the publication, 19 out of 21 companies that have agreements with the state energy monopoly Ethiopian Electric Power (EEP) are Chinese. After […]

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ForkLog 22 11.02.2024

Bernstein Predicts Bitcoin Miners’ Stock Surge Ahead of Halving

Shares of companies mining the leading cryptocurrency present a promising entry point ahead of the halving, reports CoinDesk, citing a report by Bernstein analysts. The document notes that Bitcoin’s price soared after each previous halving—in 2012, 2016, and 2020. The next halving, which will reduce the block reward to 3.125 BTC, is scheduled for April […]

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ForkLog 14 09.02.2024

Mongolian Citizen Caught Smuggling Mining Equipment from Russia

Customs officers at the MAPC Kyakhta in Buryatia thwarted an attempt to illegally export two ASIC miners to Mongolia. This was reported by the Federal Customs Service of Russia (FCS). According to the agency, a Mongolian citizen attempted to transport two used Watsminer M21 miners, manufactured by MicroBT, in a taxi. The devices were not […]

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ForkLog 12 09.02.2024

Marathon Digital’s Bitcoin Production Plummets by 42% in January

At the beginning of February, mining companies reported their performance results for the past month. ForkLog compiled the key figures in one article. Marathon Digital Holdings In January, Marathon Digital Holdings produced 1084 BTC — a 42% decrease compared to the previous month. Source: Marathon Digital Holdings. According to the press release, the hash rate […]

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