This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC
Bitcoin mining behemoth, Marathon Digital has made headlines by investing a staggering $100 million in BTC. This substantial investment comes despite BTC’s previous price drops, underscoring the mining giant’s confidence in the long term potential of the pioneer cryptocurrency. MARA Buys $100 Million Worth Of BTC In a press release published on Thursday, July 25, MARA, (recently rebranded from Marathon Digital) announced that it has purchased an additional $100 million worth of BTC. This substantial Bitcoin investment marks a significant increase in MARA’s already impressive Bitcoin....
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Crypto mining operations have been witnessing some changes within the industry in terms of locations. A recent interview with the CEO of the mining giant Bitriver, revealed that Russia is becoming a preferred hotspot for crypto miners. Russian Mining Giant to Build Two Additional Facilities to Cope With the High Demand According to Igor Runets, CEO and founder of the Russian mining company Bitriver, American and European investors are moving their infrastructure from China, Africa, and Latin America to Russia. The main reason behind the shifting move is the expensive costs of electricity....
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Online retailer Overstock.com spent $8m last year on its blockchain-backed securities trading initiative. In a statement to investors, CEO Patrick Byrne wrote that the firm spent $6m more than originally anticipated on its blockchain research. The firm said in November that it spent $3.2m during the third quarter on the initiative. The disclosure came with the firm's Q4 2015 results, which were published yesterday after markets closed. Byrne wrote: “OLabs (our growth and innovation group) contributed what we planned with one exception: though I began 2015 intending to spend $2 million....