Low Price Fails to Derail Bitcoin Mining Companies' Expansion Plans
Compared to the 2014 rout, Bitcoin price seems to have stabilized near lower levels. Many in the industry expected at least a shutdown of the major businesses involved in Bitcoin mining. But as the price forms a base near $200-220, Bitcoin mining companies are sensing an opportunity to expand their infrastructure and increase their market share. Two of the world's leading Bitcoin mining companies, BitFury and KnCMiner, are going ahead with their expansion plans even in the current low-price environment. BitFury recently announced that it is acquiring a privatized land plot in the Republic....
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Earlier this year, the leading Bitcoin Crypto Exchange and Cloud Mining service provider Cex.io had suspended Bitcoin cloud mining services citing a drastic plunge in the cryptocurrency's price and an increase in network difficulty. "Mining with using User's Gigahashes can be stopped by CEX. IO if the amount of the Maintenance Cost exceeds rewards for each mined block or if the mining is economically inexpedient." Other cloud mining companies are also feeling the pinch of the falling price of Bitcoin. Founded in 2013, CloudHashing has put its ambitious expansion plans on hold in the wake....
Argo Blockchain, a London-based cryptocurrency mining company, has announced an expansion of its mining capacity that will more than double its current hashrate. The expansion will be done through the acquisition of 20,000 S19J Pro bitcoin miners from Bitmain, which will be delivered in several installments. These miners will populate the facility the company plans to build in Texas next year.
Argo Blockchain Expands Hashrate
Argo Blockchain, a London-based crypto mining company, has announced the purchase of 20,000 mining machines to expand its capacity. This is part of the....
Bitcoin mining operations continue to truck on through the crypto winter as a number of miners have revealed expansion plans during the last week. Following the acquisition of 10,000 ASIC Antminers, Cleanspark revealed it acquired a turnkey bitcoin mining facility from Mawson Infrastructure. Reports note that Arsenal Digital Holdings acquired an underground data center outside Houston and some people suspect it’s Westland Oil’s infamous fallout bunker. Additionally, the CEO and founder of Terawulf revealed the company’s Lake Mariner data center is up and running with 1....
DigitalBTC has inked a strategic hardware supply agreement with BitFury, one of the leading manufacturers of bitcoin mining equipment. The company is owned by Australian investment firm Macro Energy, which acquired Digital CC and its subsidiary digitalBTC last month. Thanks to the acquisition, the firm became the first bitcoin-related business to be listed on the Australian Stock Exchange (ASX). Mining plans. At the time Macro Energy said it plans to raise AU$9.1m and to invest the money in the expansion of digitalBTC operations, including bitcoin mining. Soon after digitalBTC entered a....
North America, and especially the United Estates, has become a top destination for the bitcoin mining industry. States such as Texas and Kentucky are racing to become the world’s mining hub. Public bitcoin miners are planning on huge increases in hashrate in 2022, seeking to grow their bitcoin production. Bitcoin Mining Expansion A recent Arcane […]