The cost of Bitcoin (BTC) is now cheaper than the cost of mining one Bitcoin, according to the Difficulty Regression Model. As per data obtained from Glassnode, the current cost of mining one Bitcoin is $18.8k, whereas the cost of one Bitcoin is $16,5771.8. The Difficulty Regression Model is considered the ultimate distillation of mining…
Publicly traded crypto miner Core Scientific filed for Chapter 11 bankruptcy protection on Dec. 21 at the Southern District of Texas bankruptcy court. According to court documents, the miner has liabilities between $1 billion- $10 billion. It has over 1,000 creditors, with the largest unsecured claim owed to B. Riley Financial –the bankrupt firm owes…
Bitcoin (BTC) miner Greenidge Generation has entered into a $74 million debt restructuring agreement with crypto lender NYDIG, according to a Dec. 20 SEC filing. The restructuring — which is expected to improve Greenidge’s future liquidity and balance sheet — is based on a non-binding term sheet that was entered into on Dec. 19. In…
Bitcoin mining difficulty is expected to increase by at least 3% on Dec. 19 for the final adjustment of the year, according to Bitrawr Bitcoin difficulty estimator. Source: Bitrawr According to the data, BTC’s current mining difficulty is at 34244331613176.18, and the estimated 3% increase would take the mining difficulty to between 35421102548895 and 35421764497396….
This year hasn’t been kind to Bitcoin miners as the invasion of Ukraine in February 2022 triggered a global energy crisis, pushing mining costs through the roof. In addition, the collapse of Luna in June tanked Bitcoin’s price to a two-year low, wiping out the little profitability miners had left. After a challenging summer with…
Crypto mining firm Argo Blockchain has requested the resumption of trading for its ARB shares on the London Stock Exchange (LSE) after the UK Financial Conduct Authority suspended it. Reports emerged on Dec. 10 that Argo Blockchain was looking to file for bankruptcy as it is facing a severe liquidity crunch. As a result, its…
As rumors about Argo’s possible bankruptcy continue to spread, more information about what caused the company’s troubles are unraveling. The U.S.-based Bitcoin mining company has seen its shares plummet in the second half of the year as it struggled to keep a positive cash flow. In October, Argo failed to secure a $27 million strategic…
The Block CEO resigns after failing to disclose $27 million in personal loans from Alameda Research Employees of The Block were not previously made aware of the loans and Bobby Moran, the company’s chief revenue officer, will step in as CEO. 5 hours ago · 2 min read
A rural village in Kenya has been using off-grid energy generated using hydropower to mine Bitcoin (BTC) and power 500 families nearby. Bitcoin Is Key To An Abundant Clean Energy Future pic.twitter.com/cLY9JWXIE9 — Miles Suter 🏴 (@milessuter) December 9, 2022 The news was shared by Cash App Product Lead Miles Suter, along with a video…
Mining companies have been releasing their November production rates throughout the week. CryptoSlate analysts brought the numbers together and revealed that Hut8, Riot, and Marathon are the only ones who increased their BTC holdings in November. The chart above includes the top nine BTC miners’ monthly reserves starting from January 2022. The numbers show that…