Digital Money Times

#1 Source For Bitcoin And Altcoin News

You are here: Home / Archives for Miner

U.S. Bitcoin Miner Increased Its Annual BTC Production By 200% In 2022

By Leave a Comment

Cleanspark’s December 2022 mining update examines the company’s year at large as well as the operations of the previous month.

Cleanspark, a publicly traded bitcoin miner based in Las Vegas, Nevada, has announced their December 2022 bitcoin mining update, in addition to comments from the CEO reflecting on 2022. 

“Among our many accomplishments this year, I’m most proud of increasing our annual bitcoin production by over 200% as we expanded our fleet and the number of mining campuses we own and operate throughout Georgia,” said Zach Bradford, CEO, in the release. “Even in this down market, we are committed to the promise of bitcoin and are proud to be part of the global network that keeps it secure for millions of users across the world.”  Read more...

This is a preview of U.S. Bitcoin Miner Increased Its Annual BTC Production By 200% In 2022. Click Here To Read the full post

Giant Bitcoin Miner Core Scientific Files For Bankruptcy

By Leave a Comment

One of the largest bitcoin mining companies in the U.S. has filed for Chapter 11 bankruptcy protection.

  • Core Scientific has officially filed for bankruptcy.
  • The filing followed a decline in the firm’s operating performance and liquidity.
  • The giant bitcoin miner said it plans to continue operating as it navigates the restructuring.

Nasdaq-listed Core Scientific filed for bankruptcy in the U.S. early Wednesday, confirming late Tuesday reports that the miner would seek Chapter 11 protection on the following day.  Read more...

This is a preview of Giant Bitcoin Miner Core Scientific Files For Bankruptcy. Click Here To Read the full post

Major Publicly Traded U.S. Bitcoin Miner Files For Chapter 11 – Impact On The Market?

By Leave a Comment

What many suspected after the news broke in late October has now become a reality. One of the largest publicly traded Bitcoin mining companies in the U.S., Core Scientific Inc. (CORZ), has filed for Chapter 11 bankruptcy, CNBC reported today. The network cites an anonymous source.

Whether the Bitcoin mining company will survive the crypto winter, however, remains to be seen. CORZ is still generating cash flow, but it is not enough to pay off the financing debt from the machine lease.  Read more...

This is a preview of Major Publicly Traded U.S. Bitcoin Miner Files For Chapter 11 – Impact On The Market?. Click Here To Read the full post

Bitcoin Miner Greenidge Generation Reaches Debt Restructuring Deal With NYDIG

By Leave a Comment

The deal will involve NYDIG taking ownership of miners, with the aim to lessen chances of a bankruptcy.

Greenidge Generation, a bitcoin miner operating in New York, has reached a restructuring agreement for the $ 74.4 million debt with its lender, NYDIG.

The restructuring will involve NYDIG purchasing 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners, which Greenidge will host for NYDIG. This would eliminate $ 57-$ 68 million of debt, leaving Greenidge with approximately 1.8 EH/s of its own miners, while requiring that the mining firm also pledge the rest of its unencumbered assets to secure the remainder of the loan.  Read more...

This is a preview of Bitcoin Miner Greenidge Generation Reaches Debt Restructuring Deal With NYDIG. Click Here To Read the full post

Core Scientific’s Lender Offers $72 Million Bailout To Embattled Miner

By Leave a Comment

The public miner may be saved by its lender as the two entities engage in attempts to restructure their debt.

Core Scientific’s lender, B Riley, has stated its intentions of loaning out $ 72 million to the embattled publicly traded miner. Core Scientific currently has an existing loan with B Riley totaling $ 42 million. The new $ 72 million loan would be “on favorable terms,” and aim to provide two years of runway before anticipating profitability from the company.  Read more...

This is a preview of Core Scientific’s Lender Offers $72 Million Bailout To Embattled Miner. Click Here To Read the full post

Trading Shares Of Bitcoin Miner Argo Blockchain Suspended

By Leave a Comment

A Friday operational update halted trading of the embattled bitcoin miner in the United Kingdom and United States.

  • On Friday, the trading of shares of Argo Blockchain (NASDAQ: ARBK) was suspended in both the U.S. and U.K.
  • Particular reasoning for the suspension was not provided.
  • The suspension could indicate pending updates or changes to the firm.

In the released November operational update, the firm states, “The Company is endeavoring to complete such financing transactions to provide the Company with working capital sufficient for its present requirements.”  Read more...

This is a preview of Trading Shares Of Bitcoin Miner Argo Blockchain Suspended. Click Here To Read the full post

Energy Company Turned Miner Produced A Record 532 BTC In October

By Leave a Comment

CleanSpark saw a record bitcoin production in October following recent investments in growth amid a battered mining market.

CleanSpark Inc., an energy company turned bitcoin miner, produced a record amount of new BTC last month.

The Nasdaq-traded firm said in a statement sent to Bitcoin Magazine that it had mined 532 bitcoin in October, representing a nearly 20% increase from its September production. In addition, the company also shared some updates on its immersion-cooled farm.  Read more...

This is a preview of Energy Company Turned Miner Produced A Record 532 BTC In October. Click Here To Read the full post

Public Miner Capitulation Takes Shape With Core Scientific On The Ropes

By Leave a Comment

Miner capitulation is here. Core Scientific talks about potential bankruptcy, highlighting that cash resources will be depleted by the end of the year.

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Core Scientific Capitulation

We’ve been highlighting the case for more public miner capitulation over the last few months. News shows that Core Scientific, the largest publicly traded mining company by hash rate and miner fleet, may face bankruptcy. The highlights from their SEC filing are the following:  Read more...

This is a preview of Public Miner Capitulation Takes Shape With Core Scientific On The Ropes. Click Here To Read the full post

Why Bitcoin Miner Capitulation Has Concluded For This Cycle

By Leave a Comment

Every crypto bear market has seen Bitcoin miner operations capitulating to stay financially afloat. This capitulation often marks a bottom for BTC and the crypto market, allowing it to consolidate before breaking into new highs. 

However, the current Crypto Winter could be unlike others regarding selling pressure from Bitcoin miner operations. These entities have been selling their BTCs less intensively than in previous years, hinting at sector maturation and growth in the nascent industry.   Read more...

This is a preview of Why Bitcoin Miner Capitulation Has Concluded For This Cycle. Click Here To Read the full post

Bitcoin Miner Selling Eased By 50% Over Past Month

By Leave a Comment

Data shows Bitcoin miners have eased up their dumping over the past month, now selling only at a 50% rate compared to in early September.

Bitcoin Miner Net Position Change Now Has A Value Of 4.4k BTC Per Month

As per the latest weekly report from Glassnode, the BTC miners were selling at a rate of 9k BTC per month at the start of last month.

The relevant indicator here is the “miner net position change,” which measures the total net amount of Bitcoin being withdrawn or deposited by the miners over the last 30 days into or out of their wallets.  Read more...

This is a preview of Bitcoin Miner Selling Eased By 50% Over Past Month. Click Here To Read the full post

How Bitcoin Miner CleanSpark Keeps Building In The Bear Market

By Leave a Comment

As many bitcoin mining firms struggle to remain operational, CleanSpark is poised to emerge from this bear market stronger than ever.

It’s no secret that the bitcoin bear market is bad right now. According to some metrics, it’s one of the worst downturns in Bitcoin’s young history. And few sectors of the Bitcoin economy are as harshly affected by current market conditions than miners. But bear markets are precisely when mining winners are separated from losers: The agile and smart teams build and survive as the overleveraged and unprepared teams fall prey to an adverse environment.  Read more...

This is a preview of How Bitcoin Miner CleanSpark Keeps Building In The Bear Market. Click Here To Read the full post

Bitcoin Miner CleanSpark Acquires $33 Million Mining Facility In Georgia

By Leave a Comment

The renewable bitcoin mining company acquired a new facility in Georgia which will hold up to 70,000 mining rigs at full capacity by the end of next year.

Bitcoin mining company CleanSpark Inc.(Nasdaq: CLSK), has entered into an agreement with Mawson Infrastructure Group (Nasdaq: MIGI) to purchase a mining facility for $ 33 million, per a press release sent to Bitcoin Magazine.

The turnkey mining facility in Sandersville, Georgia is expected to add 1.4 exahashes per second (EH/s) to CleanSpark’s hash rate before the end of the year. By early 2023, the facility should provide a total output of 2.4 EH/s, increasing up to 7 EH/s by the end of 2023. The company has a goal of 22 EH/s across all locations by the end of 2023.  Read more...

This is a preview of Bitcoin Miner CleanSpark Acquires $33 Million Mining Facility In Georgia. Click Here To Read the full post

Bitcoin Miner CleanSpark Purchases 10,000 Antminers For $28 Million

By Leave a Comment

In a purchase agreement with Cryptech Solutions, CleanSpark has purchased an additional 10,000 miners, on top of the 6,000 already purchased this summer.

  • CleanSpark purchased 10,000 bitcoin mining machines from Cryptech Solutions.
  • The purchase agreement had a final valuation of $ 28 million.
  • CleanSpark now hosts over 37,000 bitcoin miners.

CleanSpark Inc., (Nasdaq: CLSK) has acquired 10,000 brand-new Bitmain Antminer S19j Pro units through a $ 28 million purchase agreement with Cryptech Solutions, per a press release sent to Bitcoin Magazine.  Read more...

This is a preview of Bitcoin Miner CleanSpark Purchases 10,000 Antminers For $28 Million. Click Here To Read the full post

Bitfarms Reports Higher BTC Production Following Increase In Miner Revenues

By Leave a Comment

Public bitcoin miners have had a difficult couple of months since the price of bitcoin dropped below the $ 30 level. The digital asset’s mining revenues had plummeted with the price and had brought down the cash flow on bitcoin miners with it. Despite this decline, some bitcoin miners are taking the bear market head-on, using this as a time to build.

Bitfarms Increases Activity

One of the bitcoin miners that has recorded positive growth even through the bear market has been Bitfarms. The company’s recent reports show moves in the right direction in regards to its mining hashrate and the amount of BTC it is producing.  Read more...

This is a preview of Bitfarms Reports Higher BTC Production Following Increase In Miner Revenues. Click Here To Read the full post

Pleb Miner Month Celebrates The Rise Of Home Bitcoin Miners

By Leave a Comment

At-home bitcoin miners are the backbone of a decentralized Bitcoin network. Celebrating Pleb Miner Month in September puts the focus back on the little guy.

This is an opinion editorial by Barnminer, a Bitcoiner focused on improving self-sovereignty and onboarding home miners.

Bitcoin mining began at home with Satoshi Nakamoto mining the first 50 bitcoin in the genesis block on what would likely be considered an antiquated desktop computer by today’s standards. Mining has since morphed into a multibillion-dollar industry with fiat-style publicly traded mining behemoths with market capitalizations well into the billions. This includes large companies such as Marathon Digital Holdings, Riot Blockchain, Hut 8 Mining, Hive Blockchain and the like.  Read more...

This is a preview of Pleb Miner Month Celebrates The Rise Of Home Bitcoin Miners. Click Here To Read the full post

Bitcoin Miner Riot Q2 Update Underscores Market Conditions, Holds Over 6,000 BTC

By Leave a Comment

The company still holds a large treasury and ramped up its infrastructure through a $ 14 million bitcoin sale and dumping over 30 million shares onto the market.

  • Riot increased its mining fleet to over 44,000 miners and still has more than 3,000 left to deploy.
  • The company’s bitcoin production rose 107% YoY.
  • A $ 14 million bitcoin sale and a 30 million share offering strengthened the company’s cash position.

Bitcoin miner Riot released its Q2 bitcoin mining and production update on Tuesday, which highlights ongoing capitulation trends in the bitcoin mining industry, but Riot’s capitulation paid for expansion while others simply needed to stay afloat.  Read more...

This is a preview of Bitcoin Miner Riot Q2 Update Underscores Market Conditions, Holds Over 6,000 BTC. Click Here To Read the full post

Crypto News

Featured

Press Releases

ADVERTISEMENT

Loading data ...
Comparison
View chart compare
View table compare