mining companies – DIGIT INFO

Publicly traded mining companies spend $3.6B on PP&E so far in 2024

DIGIT — Thu, 28 Nov 2024 17:45:22 +0000

Crypto mining hardware typically has a lifespan between 3-5 years on average and must be periodically upgraded to maintain profitability.

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Riot Platforms boosts Bitfarms stake with $2.28M share acquisition

DIGIT — Wed, 14 Aug 2024 08:49:42 +0000

Riot Platforms continues navigating its complex relationship with Bitfarms while expanding its operations.

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Riot Platforms Proposes Comprehensive Plan to Improve Bitfarms

DIGIT — Tue, 09 Jul 2024 05:13:30 +0000

Riot Platforms Inc. (Nasdaq: RIOT) has proposed a comprehensive plan to improve Bitfarms Ltd. (Nasdaq: BITF) and has launched a website to detail this strategy. As part of its efforts to acquire Bitfarms, Riot has called for a special shareholders’ meeting to nominate three new directors: John Delaney, Amy Freedman, and Ralph Goehring, who bring […]

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Russia Expands Its Crypto Mining Capacity, Report Reveals

DIGIT — Sat, 04 Feb 2023 23:00:20 +0000

The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare for Growth as Total […]

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Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees

DIGIT — Sat, 07 Jan 2023 11:30:06 +0000

Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy. New Year Brings Higher Costs […]

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New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

DIGIT — Mon, 28 Nov 2022 05:00:11 +0000

Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels. New York Mayor and Bitcoin Supporter Eric Adams to […]

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Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits

DIGIT — Sun, 03 Apr 2022 14:30:36 +0000

Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan […]

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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners

DIGIT — Fri, 31 Dec 2021 09:30:27 +0000

The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP Project Revived Amid Short […]

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Bitcoin Mining Company Griid Plans for Public Listing on NYSE via SPAC Deal

DIGIT — Tue, 30 Nov 2021 21:30:55 +0000

After the vertically integrated bitcoin self-mining company Griid revealed it secured a $525 million credit facility from Blockchain.com, the company revealed it plans to go public via a special purpose acquisition company (SPAC) deal. Griid will be listed on the New York Stock Exchange (NYSE) after merging with the company Adit Edtech. Griid to Go […]

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Bitcoin ASIC Miner Manufacturing Domination: Bitmain and Microbt Battle for Top Positions

DIGIT — Mon, 22 Jun 2020 21:02:23 +0000

On June 16, 2020, Bitmex researchers published a report that noted bitcoin mining rig manufacturers have consolidated a great deal and in the future, Bitmex researchers predict that “only 2 to 3 players will survive into the longer term.” There’s still a number of SHA256 mining rig manufacturers today, and regional reports claim that the […]

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