Bitcoin Mining Revenue Jumps to $1.39 Billion in February Despite Fee Decline

Bitcoin Mining Revenue Jumps to $1.39 Billion in February Despite Fee DeclineIn February, bitcoin miners discovered a total of 4,446 blocks, amassing earnings of $1.39 billion, with $71 million of this sum coming from onchain transaction fees. The revenue from bitcoin mining in February rose by $40 million compared to January, though the amount collected from fees saw a decrease this month. Bitcoin’s Hash Price Breaks […]

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Bitcoin Miner Riot Acquires 31,500 ‘Next Generation’ M60S Mining Machines Worth $97.4 Million

Bitcoin Miner Riot Acquires 31,500 'Next Generation' M60S Mining Machines Worth $97.4 MillionBitcoin miner Riot Platforms Inc. said it expects to take delivery as well as deploy 31,500 Whatsminer M60S miners worth $97.4 million by the end of July 2024. The addition of the new bitcoin mining machines is projected to increase the “self-mining” hashrate capacity of Riot’s Rockdale Facility to 15.1 EH/s. Replacement of Underperforming Miners […]

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Bitcoin Mining Firms Terawulf and Cleanspark Ramp up Hashrates, Boost Financial Footing

Bitcoin Mining Firms Terawulf and Cleanspark Ramp up Hashrates, Boost Financial FootingThis week witnessed significant expansions in the bitcoin mining sector, with two leading firms unveiling substantial increases in their operational hashrate. Terawulf disclosed that its self-mining business has escalated to 7.6 exahash per second (EH/s) this month. Concurrently, Cleanspark announced an enhancement in its fleet-wide operating hashrate, surpassing 14 EH/s. Terawulf Hashrate Reaches 7.6 EH/s […]

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Despite Transfers Lingering in the Mempool, Bitcoin’s Daily Transaction Rate Taps All-Time High

Despite Transfers Lingering in the Mempool, Bitcoin's Daily Transaction Rate Taps All-Time HighBitcoin is on a roll in 2023, breaking records left and right. For instance, on May 2, at block height 787,895, the cryptocurrency’s hashrate soared to 491 exahash per second (EH/s). Moreover, on April 20, at block height 786,240, the difficulty hit a new high of 48.71 trillion. But that’s not the only thing that’s […]

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Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Crypto Miners, Experts Say

Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Miners, Experts SayIncreasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half […]

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Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for SectorThe government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have […]

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