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The judge’s ruling does not require Celsius debtors to sell the Bitmain coupons, but they would need the consent of the committee of unsecured creditors. Go to Source Powered by WPeMatico
Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion Bitcoin mining company, Iris Energy, announced plans […] … Read more
With the tough conditions that faced Bitcoin miners last year, Iris’ co-founder said the purchase was a “significant milestone” for the company. Go to Source Powered by WPeMatico
Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility to the debtors’ mining business.” Celsius Interim CEO Outlines … Read more
Bitfufu’s plans to go public have been delayed for the second time. The company is the cloud mining arm of Chinese mining giant Bitmain. Go to Source Powered by WPeMatico
Dogecoin shifting to proof-of-stake would be good for the environment, but what impact would it have on miners and ASIC manufacturers? Go to Source Powered by WPeMatico
Some conditions applied to the coupons make them useless for Core Scientific’s business, a court filing shows. Go to Source Powered by WPeMatico
The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan … Read more
Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated circuit (ASIC) bitcoin mining rigs are able to turn a profit at current … Read more
During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) … Read more
