Cryptocurrency mining firm Argo Blockchain has reduced its debts to $75 million through the first half of 2023.
Category: Argo
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Chip Giant Intel Abandons Bitcoin ASIC Production
After announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production. On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the Intel Blockscale 1000 Series ASIC.” Intel Spokesperson Discloses Company Has End-of-Lifed the Blockscale 1000 […]
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100%: Public Bitcoin miners sold almost everything they mined in 2022
Public Bitcoin miners sold off nearly everything they mined in 2022 but appear to have started accumulating reserves once again in what some hope is a bullish signal.
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Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading
Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” […]
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Bitcoin hashrate recovers after big freeze shuts down miners
The Bitcoin network hashrate has returned to 241.29 EH/s after a temporary 38% fall to 170.60 EH/s from a weekly peak of 276.40 EH/s.
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Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt
On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter […]
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Core Scientific in ‘substantial doubt’ of continuing without more cash
The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments.
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Publicly-Listed Bitcoin Miner Argo Blockchain’s Stock Gets Downgraded, Firm Offloads Close to 4,000 Bitmain Miners
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27 […]
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Report: Intel Reveals ‘Bonanza Mine BMZ1’ Blockchain Accelerator Mining Chip
Last week the California-based technology company Intel explained its intentions to develop crypto mining semiconductors that would showcase “1000x better performance per watt.” Now Intel has revealed more details about the “Bonanza Mine” (BMZ1) blockchain accelerator chip at this year’s International Solid-State Circuits Conference (ISSCC). Intel’s Bonanza Mine Crypto Chip Products Introduced at ISSCC Information […]
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Intel to Develop Crypto Mining Accelerators, Claims Circuits Will Deliver ‘1000x Better Performance per Watt’
The California-based technology company and the world’s largest semiconductor chip manufacturer by revenue, Intel, has revealed the company will “contribute to the development of blockchain technologies” by offering “energy-efficient accelerators.” Intel executive Raja M. Koduri explained that the company expects its circuit innovations will deliver “1000x better performance per watt” than today’s GPU or SHA256-based […]
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