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The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan […]Powered by WPeMatico
The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 million, according to a U.S.Securities and Exchange Commission (SEC) filing published Wednesday. According to the prospectus disclosing information, the New York-based Greenidge conducted a sales agreement with the investment firms B. Riley Securities and Northland Securities. Bitcoin Miner Greenidge Generation Looks to Raise […]Powered by WPeMatico
The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy is suing the rival firm Alkane Midstream LLC over alleged patent infringement and poaching customers in Colorado. Crusoe’s lawsuit claims since November 2019, “Alkane was actively monitoring Crusoe and its business.” Crypto Flare Mitigation Company Crusoe Files a Lawsuit Against the Texas-Based Alkane Midstream Gas-to-bitcoin flare mitigation company […]Powered by WPeMatico
The bitcoin mining industry continues to expand as companies are obtaining more megawatts of capacity, building new facilities, and acquiring thousands of application-specific integrated circuit (ASIC) mining rigs. On Friday, the firm Validus Power revealed it has acquired two natural gas power stations in Ontario, Canada, that will become crypto mining facilities. On the same […]Powered by WPeMatico
On August 9, a firm that uses landfill methane to fuel bitcoin miners, Vespene Energy, announced the company has raised $4.3 million in a funding round led by Polychain Capital. Vespene aims to use the funds for its pilot in California by using landfill methane to mine bitcoin and “mitigate a major source of greenhouse […]Powered by WPeMatico
The state of New York passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon-based energy sources. The policy will place a two-year ban on proof-of-work (PoW) mining if the assembly bill is approved by New York governor Kathy Hochul. New York PoW Mining Moratorium Legislation to Be […]Powered by WPeMatico
On Thursday, the bitcoin mining and flare gas mitigation firm Crusoe Energy Systems Inc. revealed it secured $505 million in new capital from strategic investors. According to the announcement, the Series C equity funding round was led by the climate technology venture capital firm G2 Venture Partners (G2VP). Crusoe Energy Systems Secures $505 Million From […]Powered by WPeMatico
According to the bitcoin mining operation and mining rig reseller, Compass Mining, a new documentary will be released that covers the bitcoin mining operations in central Wyoming. The documentary, called “Bitcoin in Cowboy County: Wyoming’s Powder River Miners,” will premiere at the Empower Conference in Houston, Texas, on March 31. Compass Mining and JAI Energy […]Powered by WPeMatico
Exxon Mobil Corporation is reportedly participating in a pilot program that leverages excess natural gas to power crypto mining machines, according to a recent report quoting people familiar with the matter. The report states that the oil giant is partnered with the firm Crusoe Energy Systems, and the pilot is purportedly taking place in North […]Powered by WPeMatico
Senator Elizabeth Warren has written a letter to the CEO of the New York bitcoin mining firm Greenidge Generation, Jeff Kirt, asking for details on the company’s emissions. Warren’s letter insists “Greenidge and other [bitcoin mining] plants raise concerns about their impacts on the global environment.” Elizabeth Warren Takes Aim at Bitcoin Mining Operations The […]Powered by WPeMatico