Core Scientific files motion to sell over $6M in Bitmain coupons
Some conditions applied to the coupons make them useless for Core Scientific’s business, a court filing shows. Go to Source Powered by WPeMatico
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Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go
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
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices
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
Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs
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
Crypto lender Matrixport seeks $100M funding despite lending crisis
Bitmain-backed crypto lender Matrixport is the other half of a new funding round targeting a $100 million raise. Go to Source Powered by WPeMatico
Bitcoin mining firm Bitdeer could delay public offering to 2023
An SEC filing stated Safari Group shareholders could vote to give the company the option to extend the Bitdeer deadline up to four times until December 2023. Go to Source Powered by WPeMatico
Mining Rig Manufacturer Canaan Launches 2 New ASIC Bitcoin Miners With up to 130 Terahash
On Monday, bitcoin mining rig manufacturer Canaan Inc., announced the launch of the company’s latest high-performance bitcoin miners called the A13 series. Canaan has revealed two models in the A13 series, which feature “improved power efficiency over its predecessors,” and the new models produce an estimated 110 to 130 terahash per second (TH/s). Canaan Launches … Read more
Jihan Wu-Backed Crypto Miner Bitdeer Acquires ‘Singapore’s Fort Knox’ for $28.4 Million
Sources have disclosed that the digital currency mining operation, Bitdeer Technologies, has purchased a high-security storage and display facility in Singapore called Le Freeport for $28.4 million. Bitdeer’s chairman, Jihan Wu, confirmed the vault acquisition via a text message following the reports that revealed the mining firm purchased Le Freeport. Bitdeer Purchases Maximum Security Vault … Read more
While Known Mining Pools Currently Dominate, Unknown Miners Discovered the Most Bitcoin Blocks During the Last 13 Years
The Bitcoin network has been operational for 5,012 days and so far, more than 755,000 blocks have been mined into existence. During the last year, Foundry USA and Antpool were the top two miners as the combined pools collectively mined 18,229 blocks out of the 53,510 blocks mined this year. Foundry is the leader this … Read more
World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices
The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin miners, Bitmain Technologies, has revealed the company is offering a discount on Antminer S19 Pro mining rigs. The 100 terahash per second (TH/s) machine is selling for $19 per terahash or $1,900 per unit. The Antminer mining rigs are 80% cheaper than they were five … Read more