Bitcoin Mining Firm Digihost Remains Debt Free Amid Bearish Market
Many Crypto and Bitcoin mining firms have recorded huge losses in 2022 due to the ongoing bear market and extreme economic conditions. As a result, some have packed up, while others declared bankruptcy amid the crypto winter. However, not all the crypto firms got severely affected during the crisis. Some have managed to rise from danger, while others are still struggling. A recent press release revealed that Digihost, a Canadian Bitcoin mining firm remains free from debts. The firm has managed to maintain a positive cash flow despite the downtime facing the entire crypto-mining sector.....
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The mining firm said it aims to have a hashing capacity of 28 MW at the Alabama facility by the fourth quarter, and 55 MW by the second quarter of 2023. Digihost, a United States-based cryptocurrency mining company, has announced plans to move part of its fleet from New York to Alabama in an effort to lower energy costs.In a Tuesday announcement, Digihost said its 55-megawatt (MW) facility in Alabama — which the company acquired in June — will host some of its crypto miners from New York, leading to lower operating costs. According to the mining firm, it aims to have a hashing capacity of....
BNB’s price shows strength as it continues its rally, with eyes set on breaking its major resistance of $335, stopping the price from increasing. BNB could rally more as the price creates a bullish bias and holds above resistance. BNB’s price remains strong on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). The price of Binance Coin (BNB) displayed an incredible price action as the price recaptured its key support of $270 after losing this region a few days ago. The crypto market has enjoyed a little bit of relief bounce across....
The extreme microeconomic factors, rising inflation, and increased energy cost have impacted the profitability of Bitcoin miners. Amid the ongoing bear market, many Bitcoin miners find it difficult to stay afloat and maintain their operation costs. Moreover, the Bitcoin hash rate is surging, further increasing the pressure on miners. Most miners obtained high-interest loans, which they could not offset due to the current economic conditions. Related Reading: What Happens To Dogecoin If Twitter Fails To Implement Crypto Plans? According to a Bloomberg report, some mining firms like Core....
Bitcoin mining hardware firm CoinTerra has been the subject of speculation this week, as emails purportedly sent by the company to customers of its cloud mining service suggest the firm has defaulted on debt obligations. The email, signed by a representative of the CoinTerra support staff, claims that the firm is no longer capable of making payouts to customers. The message reads: "The company has defaulted on its secured notes. The note holders have senior, secured and, we believe, perfected liens on all of CoinTerra's assets, including servers. We have proposed a plan to the note....
The company said it will be seeking reimbursement for the lost revenue from mining crypto, with operations at Niagara Falls "hoped to resume within a few weeks." New York-headquartered crypto mining firm Bit Digital reported two of its hosting partners ceased operations to more than 4,800 rigs following power disruptions at different facilities. In a Thursday announcement, Bit Digital said a substation in Niagara Falls was damaged by “an explosion and subsequent fire,” necessitating its partner Blockfusion USA to take 2,515 Bitcoin (BTC) miners and 710 Ether (ETH) miners offline at the....