Bitcoin Mining Operations Continue to Expand Amid the Crypto Winter, While Co...
The bitcoin mining industry continues to expand as companies are obtaining more megawatts of capacity, building new facilities, and acquiring thousands of application-specific integrated circuit (ASIC) mining rigs. On Friday, the firm Validus Power revealed it has acquired two natural gas power stations in Ontario, Canada, that will become crypto mining facilities. On the same day, the firm Applied Blockchain got a $15 million loan to fund growth and “buildout of its data centers.” While the bitcoin mining industry’s growth has been exponential, at the same time,....
Related News
Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September.
Crypto Mining Farms in Iran to Shut Down During Winter
Expecting energy needs across the country to increase with low temperatures in the coming months, the Iranian government is now taking steps to limit consumption and avoid an electricity deficit. Just like earlier this year, the measures will affect the....
Chinese Bitcoin mining firm Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, but it’s not the end of its business. Chinese cryptocurrency mining firm Canaan will continue to expand operations despite the ongoing bear market and an associated drop in earnings, according to the company’s CEO.Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, the firm officially announced on Nov. 14. The firm’s Q3 net income amounted to 61.1 million renminbi (RMB), or $8.6 million, which is a 88% decrease from the same period in 2021, Canaan noted.The company’s....
Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage. Bitcoin (BTC) mining hosting firm Compute North has filed for chapter 11 bankruptcy, amid growing pressure on the firm due to the effects of crypto winter and rising energy costs. The firm’s CEO Dave Perrill has also stepped down but will remain on the board. The company submitted a Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court for the Southern District of Texas on Sept. 22, which is now pending before Judge David Jones. Under a Chapter 11 filing,....
Despite the fact that bitcoin miners are getting bare minimums in profits per petahash per second (PH/s), and the myriad of headlines showing specific mining operations folding from the crypto winter, the network’s total hashrate continues to chug along at close to 300 exahash per second (EH/s). With lower bitcoin prices and the mining difficulty at an all-time high, the current trends have not pushed bitcoin miners back in the least. Meanwhile, the next difficulty retarget scheduled to occur on or around October 23, shows another increase will take place.
Bitcoin’s....
A Canaan executive detailed the success of its pilot mining operations in Kazakhstan and shared plans to expand its operations to the U.S. in an interview.