Riot Platforms Bitcoin holdings cross 10K BTC, production drops

Riot Platforms reports a drop in Bitcoin production for August 2024 but stays bullish with expansion plans to increase its mining capacity and optimize energy costs.

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Russia Legalizes Crypto Mining and Payments Amid Sanctions

In response to Western sanctions, Russia has enacted legislation legalizing cryptocurrency mining and international payments, a strategic pivot aimed at mitigating economic pressures. (Read More)

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Converting mining sites to AI data centers isn't seamless: Sabre56 CEO

According to CEO Phil Harvey, Bitcoin miners will average roughly $1.50 in revenue per terahash every month during the current market cycle.

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Email auto-reply vulnerability allows hackers to mine cryptocurrency

Hackers exploit email auto-replies to spread crypto-mining malware, hijacking unsuspecting users systems to mine cryptocurrency without their knowledge.

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Crypto a Leader Among Industries 'Going Green' - As Miners Increase Energy Efficiency a MASSIVE 20X Since 2015...

In a significant stride towards sustainability, Bitcoin mining has witnessed a remarkable transformation. A recent study from the University of Cambridge reveals that the energy efficiency of Bitcoin mining has soared to be "20 times greater" than figures from 2015.

But what does "energy efficiency" mean in this context? Simply put, it's the ability to achieve the same output using less electricity. When applied to the realm of mining, there have been notable advancements in devices operating on the Proof of Work (PoW) algorithm. These devices can now mine more Bitcoins while consuming equal or even lesser energy.

In his presentation at the World Digital Mining Summit 2023, Alexander Neumüller, an esteemed researcher at the Center for Alternative Finance (CCAF), attributes this efficiency leap to technological innovations in the mining sector. These advancements have not only reduced electricity consumption but also bolstered the processing power of the Bitcoin network.

Highlighting the magnitude of this progress, Neumüller emphasized an astounding "20-fold increase" in Bitcoin mining's energy efficiency over the past eight years.

Historically, Bitcoin mining has been criticized for its hefty energy consumption, which many environmentalists claim leads to increased pollution. However, with the dual approach of enhancing energy efficiency and integrating renewable energy sources, the cryptocurrency industry is making strides towards a greener future.

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Malware exploits weak passwords in PostgreSQL for cryptojacking

Up to 800,000 internet-connected databases could be vulnerable to crypto-mining malware that will use their computing capacity.

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Bitcoin mining expenses surge 168% amid capacity growth

BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.

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CleanSpark (CLSK) Executes 75 MW Power Contracts and Acquires Bitcoin Mining Site in Wyoming

CleanSpark has executed 75 MW of power contracts and acquired a Bitcoin mining site in Wyoming, expanding its operations significantly. (Read More)

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Bitdeer to expand operations with $150M convertible notes offering

Bitdeer Technologies Groups stock price dropped to $6.33 after it announced a senior convertible notes offering. 

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Crypto Mining How to Mine Ice Open Network (ICE) Crypto in 2024

Ice Open Network launched its mobile mining program in July 2023. Despite its recent launch, it has already faced some backlash in the industry. Some critics question the project’s transparency, asking, “Why stay private if your intentions are clear?” They also doubt ICE’s sustainability, especially since similar projects like Pi Network have struggled. On the […]

The post Crypto Mining – How to Mine Ice Open Network (ICE) Crypto in 2024 appeared first on Coindoo.

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CleanSpark's mining expansion continues with Wyoming facilities

The US miner is now the second-largest by market cap, after flipping Riot Platforms.

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Wall Street Bitcoin Miner Taps Institutional Investor for £6.5 Million Capital Boost

Bitcoin miner ArgoBlockchain, listedon both Wall Street and the London Stock Exchange (LSE), has announced a £6.5 million private placement agreement with aninstitutional investor. The deal involves the issuance of 57,800,000 ordinaryshares at £0.1125 per share on the LSE, along with warrants to purchase anadditional 57,800,000 shares at the same price.

Argo Blockchain Secures£6.5 Million in Private Placement Deal

Theplacement price represents a premium to Argo's recent trading averages and a10% discount to the closing price on July 29. H.C. Wainwright & Co. isserving as the exclusive placement agent for the transaction.

Argo plansto use the net proceeds for working capital, general corporate purposes, anddebt repayment. The company expects the placement shares to be admitted totrading on the London Stock Exchange's Main Market around July 31, 2024.

The netproceeds of the Private Placement will be used by the Company for workingcapital and general corporate purposes, including the repayment of indebtedness,the company commented.

$ARBK Argo Blockchain Secures £6.5M From Institutional Investor Through Private Placement.The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including the repayment of indebtedness.$TKNO $JTAI $IMNN $TWOU

Followingthe placement, Argo's total issued share count will increase to 636,352,148.The newly issued shares and any shares from exercised warrants will have equalranking with existing ordinary shares.

On the Nasdaq,the miner's shares (ARBK) tested the $2 level during Monday's session, thehighest in over three months. However, before the session ended, they fell to$1.6. Meanwhile, on the LSE (ARB), the company's shares did not react stronglyto the latest information on Tuesday and are trading around 11 pence, aftertesting the 13.5 pence level on Monday, which was the high from April.

Crypto Miner ReducedLosses

ArgoBlockchain operates cryptocurrency mining facilities in Quebec and Texas, witha focus on sustainable practices powered by renewable energy. Recent financialreports from Argo paint a picture of improving performance and strategicadjustments in the face of industry headwinds.

In itslatest quarterly update, the company reported a revenue of $16.8 million,marking a 4% increase from the previous quarter and an impressiveyear-over-year growth of nearly 50%. This uptick in revenue was accompanied bya substantial reduction in net loss, which decreased to $3.2 milliona thirdof what it was in the prior period.

We exitedthe Bitcoin halving with cash of over $12 million, Q1 debt reduction of over$12 million and streamlined Quebec operations resulting from the sale ofMirabel, commented Thomas Chippas, the Chief Executive Officer of Argo.We are enthusiastic about Argo's future growth and development and arededicated to delivering value to our shareholders.

Lookingback at the full-year results for 2023, Argo demonstrated resilience in achallenging market environment. The company managed to achieve a modest grossprofit. In addition, it saw an 85% reduction in losses compared to the previousyear, indicating progress in the company's efforts to streamline operations andimprove financial health.

During the same period, it announced the sale of its data center in Mirabel, Canada.

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Bitcoin Miner from Wall Street Plans to Double Revenue with New Hydroelectric Data Center

HIVEDigital Technologies Ltd., the Bitcoin miner from Wall Street (Nasdaq: HIVE)announced plans to construct a 100-megawatt BTC mining operation in Paraguay,aiming to double its revenue and significantly boost its hashrate capacity.

Wall Street Bitcoin MinerPlans 100MW Bitcoin Mine in Paraguay, Targets Revenue Boost

TheVancouver-based company, which specializes in green-focused data centers,intends to power the facility using clean energy from the Itaipu hydroelectricdam. This expansion is expected to increase HIVE's global Bitcoin miningcapacity from 5.6 to 12.1 exahash per second (EH/s) within the next year.

"Thisrepresents a significant milestone in our diversified growth strategy," FrankHolmes, HIVE's Executive Chairman, commented. "We are confident that thisventure can deliver healthy returns and drive long-term value, fosteringeconomic growth and innovation in the region."

Theannouncement follows meetings between HIVE executives and Paraguayan PresidentSantiago Peña, during which the company endorsed Paraguay's business-friendlyenvironment. HIVE emphasized that government stability in areas such as energypricing and taxation would be crucial for future expansion considerations.

Last week, Marathon Digital, another Bitcoin miner from Wall Street, also made headlines when it was ordered to pay $138 million to the founder of a competing mining company. Michael Ho from Hut 8 allegedly developed a growth strategy for Marathon but did not receive the appropriate compensation.

Theproposed data center is projected to generate over $100 million in US dollarrevenue for Paraguay's utility company over the next three years. HIVE plans toleverage its experience in grid balancing and demand response to supportindustrial development in the country.

Last year,the company rebranded from HVE Blockchain to Digital to reflect the evolvingnature of its business. In addition to focusing on cryptocurrency mining, thecompany expanded into high-performance computing (HPC) data centers and thegrowing trend of mass adoption of Artificial Intelligence (AI).

HIVE Digital to build data center in Paraguay, targeting higher hash rate https://t.co/231n1xc4a6 pic.twitter.com/wdQfsgtwFh

HIVE Buys 500 Mining Rigs

Luke Rossy,HIVE's Chief Operating Officer, also revealed the acquisition of 500 BitmainS21 Pro Antminers, the latest in mining technology. "These units areexpected to ship this month and are integral to the Company's strategy ofcontinually upgrading its fleet while growing its HODL position," Rossyexplained.

As of July21, 2024, HIVE reported holding 2,521 Bitcoin, up from 2,496 at the end ofJune. With Bitcoin's current market value, this represents over $170 million indigital assets on the company's balance sheet.

Accordingto the latest financial report from the publicly traded miner, the companyachieved an annual revenue of $114.5 million and an adjusted EBITDA of $37.5million in the fiscal year 2024. Over the 12 months ending March 31, 2024, thecompany mined 3,123 Bitcoin and held 2,287 Bitcoin, valued at $161.3 million onits year-end balance sheet.

TheParaguay project remains subject to final agreements, due diligence, boardapproval, and regulatory clearances. HIVE stated that further details will be provided in the near future.

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How to Mine Kaspa with Ease

Kaspa is one of the fastest open-source and decentralized Layer-1 cryptos. It was developed with a blockDAG architecture and a GHOSTDAG protocol and is the fastest Proof-of-Work (POW) consensus. Hence, Kaspa miners enjoy a quick and secure scalable solution for crypto transactions. What is remarkable about mining Kaspa is its energy-efficient and core dominant algorithm, […]

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Top 10 Free Crypto Mining Apps for Android

Crypto offers so many ways to earn more funds that we cannot even name them all. These days, when you mention a cryptocurrency, you can instantly think of at least 5 ways to earn crypto in that ecosystem. Still, mining remains one of the most popular and widely used ways to earn cryptocurrencies that work […]

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Top CPUs for Mining Cryptocurrency in 2024

The mining process is usually an extensive process. This article will help users choose their best CPU for mining for great results. 

The post Top CPUs for Mining Cryptocurrency in 2024 appeared first on Coindoo.

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Your Beginner Guide on How to Mine Monero in 2024

In 2024, crypto mining will still be widespread, and Monero will be no exception. With a market cap of $3,183,596,825, with a circulation supply of 18,446,687 XMR, and given its growth signal, Monero has become a top choice for many traders and investors looking to earn passive income due to its decentralized peer-to-peer system and […]

The post Your Beginner Guide on How to Mine Monero in 2024 appeared first on Coindoo.

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Crypto Miner HIVE Sees 8% Revenue Growth, Expands into AI Computing

HIVEDigital Technologies, a cryptocurrency mining company, certainly has reasons tobe pleased, as the last 12 months have presented a much better picture of itsoperations. After a record weak fiscal year in 2023, during which the company'srevenues fell by 50% and net losses reached $236 million, 2024 proved much more favorable, although profitability was not achieved.

HIVE Digital BalancesBitcoin Mining and AI Expansion in Fiscal 2024

The companyreported annual revenue of $114.5 million and adjusted EBITDA of $37.5 millionfor the fiscal year ended March 31, 2024. During the period, the company mined 3,123 Bitcoin and held 2,287 Bitcoin worth $161.3 million on its balancesheet at year-end.

HIVE'srevenue increased by approximately 8% comparedto the previous fiscal year, with $111.0 million generated from digitalcurrency mining and $3.4 million from its high-performance computing (HPC)business. The company achieved a gross operating margin of $40.3 million,representing a 36% operating margin.

Despitereporting a net loss of $51.2 million for the year, HIVE emphasized that thisfigure includes significant non-cash charges, such as $66.4 million indepreciation and a $6.8 million provision on sales tax receivables. The companynoted a comprehensive income of $25.0 million when factoring in a $77.3 milliongain from the revaluation of digital currencies.

"Wehave led the industry with among the lowest G&A and the lowest sharedilution while using cashflow from operations to strategically and carefullyupgrade and expand our fleet of Bitcoin mining ASICs," said Aydin Kilic,President & CEO ofHIVE. "This is possible through our dedication to maintaining highuptime, lean operations, and seeking efficiencies in all aspects of ouroperations."

Despite recordBitcoin prices in 2023, the mining company's stocks did not rise with thecryptocurrency. While they did reach two-monthhighs in March, by May they had fallen to multi-month lows again.

Higher BTC Hashrate andFocus on AI

HIVEincreased its Bitcoin mining ASIC hashrate by 57% during the fiscal year, from3.0 Exahash in March 2023 to 4.7 Exahash in March 2024. The company focused on environmental sustainability, sourcing green renewable energy forits mining operations in Canada, Sweden, and Iceland.

"Investorsshould recognize that the industry has grown to over 20 public Bitcoin miningstocks today, compared to approximately five at the last halving," FrankHolmes, Executive Chairman of HIVE, stated, highlighting the evolving landscapeof Bitcoin mining stocks and the differences between US GAAP and IFRSaccounting standards.

The companyalso reported progress in its expansion into high-performance computing tosupport artificial intelligence applications using Nvidia GPU chips, whichgenerated $7.2 million in annualized run-rate revenue by the end of the fiscalyear.

HIVEutilized at-the-market (ATM) equity programs during the year to raise capital,issuing shares for gross proceeds of C$38.1 million ($28.2 million) in thefourth quarter alone. The company stated it is using the net proceeds forpurchasing data center equipment, strategic investments, and general workingcapital.

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Bitcoin miner Hut 8 lands $150M investment amid AI boom

Coatue Management invested $150 million in the Bitcoin miner Hut 8 Corp due to its capability to power generative AI applications with its high-performance computing.

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Marathon Digital, Kenyan government discuss crypto policy, energy use

The Kenyan president announced the talks at an American business summit in Nairobi attended by the U.S. commerce secretary.

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