Glassnode data analyzed by CryptoSlate analysts suggests that rising Bitcoin (BTC) price also increases miner profitability and revenue, which have been historical pointers for market bottoms. CryptoSlate looked into the Difficulty Regression Model and Miner Revenue vs. Yearly Average comparison ...
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Marathon reports 45% increase in BTC production in January
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U.S.-based mining company Marathon Digital mined 687 Bitcoin (BTC) and sold 1,500 BTC in January, according to its monthly status report. Marathon’s January production marks a 45% increase from December 2022’s 475 BTC, according to the January report. Marathon’s CEO, ...
Core Scientific offloads 27,000 mining rigs to NYDIG to cover $38M loan
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Bankrupt crypto miner Core Scientific would transfer its ownership of 27,403 mining machines to crypto lender NYDIG to pay off a $38.6 million loan, according to a Feb. 2 court filing. Core Scientific said the transferred machines are “no longer ...
How to make crypto more eco-friendly
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Cryptocurrencies, such as Bitcoin (BTC), have been gaining popularity in recent years as a means of digital exchange. However, the environmental impact of Bitcoin mining and other cryptocurrencies has become a growing concern. In this story, the environmental impact of ...
Bitcoin miner Greenidge lost $130M in 2022 Q4; restructures debt with NYDIG, B. Riley
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Bitcoin (BTC) mining firm Greenidge said it lost about $130 million during the fourth quarter of 2022 while earning just $15 million, according to a Jan. 31 statement. The BTC miner was one of the several companies that had a ...
BlockFi permitted to auction mining equipment
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BlockFi has gained permission in bankruptcy court to sell its cryptocurrency mining equipment, Bloomberg reported Jan. 30. Bloomberg cited statements made by BlockFi representatives during a video hearing today.The company’s lawyer, Francis Petrie, said: “We’ve received substantial interest in the ...
Bitcoin difficulty hits new ATH rising by 4.68%, further securing the network
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‘s difficulty has risen by 4.68% in the second largest positive adjustment in a year to reach a new all-time high. The blockchain’s difficulty is set automatically within Bitcoin’s core code based on mining activity on the network. The below ...
Argo Blockchain hit with class action lawsuit over IPO misinformation
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Argo Blockchain investors have filed a lawsuit alleging that the crypto miner made misleading statements and concealed important information during its initial public offering (IPO) filing. The Texas-based Bitcoin mining firm went public on Sept. 23, 2021, after submitting the ...
Riding an electric wave Litecoin’s hashrate hits all-time high
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Litecoin (LTC )has been one of the best-performing big-cap tokens over the last several months, and its hashrate just hit a new all-time high, signaling some potential bullish activity on the network. After falling to a low of $40.60 back ...
Core Scientific raised $500M from BlackRock, Apollo and others
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BlackRock and Apollo Capital Management were among the group of creditors that loaned $500 million to defunct crypto miner Core Scientific, court filings show. Core Scientific, which filed for Chapter 11 bankruptcy last month, grew its business by raising massive ...