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On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update published on Monday indicates that … Read more
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 … Read more
The mining firm has cited the low price of Bitcoin, electricity costs, an increase in the BTC hash rate, and litigation with Celsius playing a role in its financial difficulties. Go to Source Powered by WPeMatico
One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov. … Read more
The Trustee has objected to the retention bonus, citing a lack of sufficient information within the motion to warrant such a high payout and a lack of clarity around whether any recipients should be considered insiders. Go to Source Powered by WPeMatico
ERCOT reported that wind generation in Texas was “generating significantly less,” potentially leaving the state unable to meet energy demands during triple-digit temperatures. Go to Source Powered by WPeMatico
The sale left the firm with 1,959 BTC at the end of the second quarter, a more than 75% drop when compared with its reported 8,058 BTC holdings as of May 31. Go to Source Powered by WPeMatico
At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first … Read more
The firm highlighted growth in hash rate, mining equipment sales, hosting revenue, digital asset mining income as key reasons for the improved performance. Go to Source Powered by WPeMatico
On Tuesday, Digital Currency Group’s (DCG) mining subsidiary, Foundry Digital, announced the company has joined the Texas Blockchain Council (TBC), a nonprofit industry association in the state of Texas. Foundry detailed the newly formed alliance is aimed at Foundry’s efforts to “help shape the regulatory landscape for digital assets” in North America. Foundry Becomes a … Read more