Mining Industry – DIGIT INFO

Russian Bitcoin Mining Industry Could Surpass the U.S. in 2 Years

DIGIT — Fri, 04 Oct 2024 23:30:50 +0000

Igor Runets, owner and CEO of Bitriver, commented on the growth potential of the Russian bitcoin mining industry following the approval of the mining law in the country. Runets stated that, due to the several advantages provided by the law, the Russian bitcoin mining industry could reach parity with the U.S. in two to three […]

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Digihost Secures Hosting Deal for 4,640 S19 XPs With Leading Bitcoin Miner Manufacturer

DIGIT — Wed, 06 Mar 2024 00:30:42 +0000

Digihost Technology Inc., a blockchain technology and mining enterprise based in the U.S., revealed a significant augmentation of its bitcoin mining capabilities, courtesy of a multi-year hosting contract with a “leading” global provider of digital currency mining equipment. Digihost Expands Mining Fleet Under Newly Inked Multi-Year Hosting Deal Digihost (Nasdaq: DGHI; TSXV: DGHI) said the […]

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Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

DIGIT — Fri, 05 May 2023 23:49:56 +0000

The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have […]

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Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023

DIGIT — Thu, 20 Apr 2023 19:49:55 +0000

Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176. Bitcoin’s Difficulty Has Risen More Than 22% Since Block […]

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Chip Giant Intel Abandons Bitcoin ASIC Production

DIGIT — Wed, 19 Apr 2023 10:00:34 +0000

After announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production. On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the Intel Blockscale 1000 Series ASIC.” Intel Spokesperson Discloses Company Has End-of-Lifed the Blockscale 1000 […]

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Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet

DIGIT — Tue, 11 Apr 2023 20:00:22 +0000

On Tuesday, the bitcoin mining company Cleanspark announced that it had purchased 45,000 Antminer S19 XP bitcoin mining devices for a total price of $144.9 million. Cleanspark stated that the new fleet would add 6.3 exahash per second (EH/s) of computational power to the company’s current 6.7 EH/s. Cleanspark Acquires 45,000 Bitmain Antminers for $144.9 […]

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Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports

DIGIT — Sun, 09 Apr 2023 09:30:41 +0000

Russia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in […]

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Compass Mining Alerts Bitcoin Miners of Changes in Bitmain’s ASIC Design

DIGIT — Wed, 08 Mar 2023 06:30:36 +0000

Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three issues” with two different Antminer S19 series mining devices. Bitcoin Miner […]

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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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Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Restructures Deal With Bitmain

DIGIT — Tue, 13 Dec 2022 10:30:39 +0000

On Monday, Dec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts. The firm also said that it restructured a deal with Bitmain which will enable the company’s self-mining capacity to expand and fully leverage the 160 megawatts of Terawulf’s available mining […]

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