Troubled miner returns 26,000 rigs to eliminate debt
The mining operator entered into a deal with NYDIG to sell rigs to alleviate $64.7 million in outstanding debt. The United States-based Bitcoin mining company, Stronghold Digital Mining (SDIG), announced on Tuesday new moves to elevate outstanding debt and restructure its financial operations.In an agreement with lender New York Digital Investment Group (NYDIG), the company plans to release 26,000 of its mining rigs, 18,700 of which are currently running. The sell-off will create more liquidity and clear $67.4 million in debt held by Stronghold. Before the agreement, the company had $47....
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PRESS RELEASE. Irvine, California, January 21, 2022: Merkle Standard, a sustainable digital asset mining platform, announced a new miner purchase order from Bitmain Technologies Limited. The executed purchase agreement is for 13,500 mining rigs from the leading ASIC mining manufacturer and aligns with Merkle Standard’s goal of becoming the industry’s most efficient and sustainable miner.
The acquisition of the miners consists of 6,000 latest generation BITMAIN S19 XP machines which boast a hash rate of 140 TH/s and 21.5J/TH power efficiency that significantly....
CNBC contributor Brian Kelly, the author of "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World," proposes a quick and simple bitcoin-like solution for Greece's troubled economy. Since the January elections that brought the "anti-establishment" Syriza party to power, Prime Minister Alexis Tsipras has been trying to renegotiate the Greek debt with the European Union (EU), but the country remains strangled by foreign debt. Rumors of a possible "Grexit," the exit of Greece from the EU, keep surfacing.Writing on CNBC, Kelly notes that Greece could stay in the....
On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin mining machines since the crypto winter started in June. Cleanspark Purchases 3,853 Antminer S19J Pro Units at $15.50 per Terahash After the bitcoin (BTC) mining company Cleanspark (Nasdaq: CLSK) said its total hashrate exceeded 5 exahash per second (EH/s), the firm explained it would raise its year-end goals to 5.5 EH/s by the year’s end. A week later, Cleanspark disclosed that the....
Bitcoin enthusiasts have often portrayed the digital currency as the one with special powers that will heal our global financial system. Our financial ecosystem is burdened with huge debt with the world's largest economy China having a debt to GDP ratio of more than 250%. Nations such as Greece are on the brink of Grexit as they fail to service their national debt. The Bitcoin community asserts that Bitcoin could prove to be potentially reformative in this domain. However, this might not be all true since Bitcoin does not completely eliminate the debt from the system. Sorry to break it to....
KnCMiner has cut the price of its mining rigs by as much as 28%, with the Saturn now on sale for $2,995 and the Jupiter for $4,995. The company also revealed today that the Mercury bitcoin hardware miner has been discontinued (this previously came with a price tag of $1,995). All orders placed from today will be delivered from mid-November, but existing orders will be shipped no later than 15th October. Miner nameOld priceNew pricePrice decrease. Saturn$3,795$2,99521.1%. Jupiter$6,995$4,99528.6%. Mercury$1,995DiscontinuedN/A. Sam Cole, co-founder of KnCMiner, said the company decided to....