Bitfarms Reports $46 Million Loss and Shift from Mining to AI
Bitfarms announced a gradual cessation of its cryptocurrency mining operations in favor of developing infrastructure for artificial intelligence.All about cryptocurrency mining, including Bitcoin and other digital currencies. News on mining in China, Russia, Ukraine, and globally. Learn what cryptocurrency mining is and how it works.
Bitfarms Reports $46 Million Loss and Shift from Mining to AI
Bitfarms announced a gradual cessation of its cryptocurrency mining operations in favor of developing infrastructure for artificial intelligence.
Kyrgyzstan Shuts Down All Mining Farms Amid Power Shortage
On November 12, all mining farms in Kyrgyzstan were disconnected from the power supply due to an electricity shortage.
MARA CEO Predicts Tough Times Ahead for Miners
The bitcoin mining industry is facing a challenging period due to increasing competition and declining profitability, according to MARA CEO Fred Thiel.
Rumble to Acquire Former Bitcoin Miner Northern Data with Tether’s Support
Canadian video hosting and cloud storage provider Rumble has signed a business combination agreement with German AI infrastructure company Northern Data.
Hash rate gives way to AI: bitcoin miners bet on data centres
Seven of the ten largest miners by hash rate now derive revenue from AI or high-performance computing (HPC).
Bitcoin Miner Phoenix Expands Capacity in Ethiopia by 30 MW
Abu Dhabi-based mining company Phoenix Group announced the establishment of a 30 MW cryptocurrency mining facility in Addis Ababa, the capital of Ethiopia.
Cipher Mining Secures $5.5 Billion AI Hosting Deal with AWS
Mining firm Cipher Mining has announced a $5.5 billion lease agreement with Amazon Web Services (AWS) to support AI computing.
Nearly 400,000 Illegal ASIC Miners Discovered in Iran
Over 95% of the 427,000 mining devices in Iran operate without a license due to low subsidized electricity prices.
Bitcoin Miner IREN Secures $9.7 Billion Contract with Microsoft
IREN has signed a contract with Microsoft to provide GPU-based cloud services. The five-year agreement is valued at approximately $9.7 billion.
Riot Describes Bitcoin Mining as a Means to an End
Riot Platforms reported a net profit of $104.5 million in the third quarter, with record revenue of $180.2 million.We use cookies to improve the quality of our service.
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