News
The blockchain and AI infrastructure company has doubled its Bitcoin hashrate and boosted its annual revenue run rate to $250 million.
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Bitcoin Mining News
Bitcoin mining involves solving complex mathematical puzzles, validating transactions and securing the network. Miners compete to find the correct hash, adding new blocks to the blockchain and earning rewards in the form of newly minted Bitcoin (BTC). Notably, a new Bitcoin block is mined every 10 minutes on average.
Bitcoin mining has undergone a significant evolution since its early days. Initially, miners utilized CPUs and GPUs for mining. As demand increased, specialized hardware called ASICs (application-specific integrated circuits) emerged, drastically enhancing mining efficiency. In recent years, a noteworthy trend has been the shift toward renewable energy sources for mining operations. Miners are increasingly adopting eco-friendly solutions, minimizing the environmental impact of energy-intensive mining processes.
Mining can be done individually (solo mining) or collaboratively in groups (mining pools). Solo miners solve blocks independently, receiving the entire reward. In contrast, mining pools combine computational power, share profits and increase the chances of earning rewards collectively. This collaborative approach has become popular due to its steadier income stream.
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Bitcoin mining executives’ huge pay packages are weakly aligned with shareholder interests, according to new research from VanEck.
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Ignoring the reduced customer acquisition costs made possible by AI places businesses at a significant disadvantage, O'Leary said.
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Bit Mining’s stock price surged 350% in pre-market trading after announcing a strategic pivot into the Solana ecosystem.
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CoreWeave agreed to purchase Core Scientific in an all-stock deal valued at $9 billion.
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Bitcoin miners had a mixed bag in June, with Australian-based miner IREN reporting a record-breaking month for revenues, but lower Bitcoin production.
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CleanSpark reached 50 EH/s in operational hashrate in June, increasing its total Bitcoin holdings to 12,608 BTC even with significant monthly sales.
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CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing.
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When mining got tough, these firms chased AI dreams. Here’s how it panned out.
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A solo miner with just 2.3 petahashes successfully mined a Bitcoin block on Thursday, netting them $349,028 in rewards.
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Bitcoin miners strategically curtailed operations in June to avoid costly peak demand charges in Texas, sacrificing short-term production for lower costs.
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The mining companies opened sharply higher on Thursday after US nonfarm payrolls surprised to the upside.
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The IMF has reportedly blocked Pakistan’s plan to use cheap electricity for crypto mining, warning it could destabilize the energy market.
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The raise includes a transaction of $10 million where the company accepted Bitcoin instead of cash.
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Bit Digital’s stock plummeted after announcing a $150 million share sale and a transition from Bitcoin mining to Ethereum staking.
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