News and Events in the Mining Industry
The UAE is gradually becoming a prominent Bitcoin mining centre in the Middle East
The United Arab Emirates is gradually becoming a well-known Bitcoin mining centre in the Middle East. The country has become an attractive destination for cryptocurrency business, with over 30 free economic zones and increasing participation in Bitcoin mining activities.
It all started when ...
Mining company Riot acquired 33280 new cryptocurrency mining devices
Riot, one of the largest mining companies in the world, said it had acquired 33280 new cryptocurrency mining devices worth $162.9 million from MicroBT.
It has been decided that these miners will start to be delivered in December 2023, with deployment planned for the first quarter of 2024. The ...
Venezuela's ban on cryptocurrency mining caused a liquidity crisis for mining companies
A severe shortage of funds has arisen for mining companies due to the continuing investigation into a corruption scandal and the suspension of cryptocurrency mining in Venezuela.
The Venezuelan government suspended cryptocurrency mining in April as it launched an investigation into a major ...
CleanSpark signed agreement to buy two bitcoin mining companies
US mining company CleanSpark has announced plans to acquire two mining facilities located in Dalton, Georgia, for $9.3 million.
These facilities will be equipped with more than 6,000 Bitmain Antminer S19 XP and S19J Pro+ devices. The acquisition is projected to increase the company's hash rate by 1 ...
Core Scientific applied to the court with a request to extend the restructuring until September 2023
One of the world's largest bitcoin miners, Core Scientific, applied to the bankruptcy court for permission to extend its restructuring proceedings until September 2023 due to changing market conditions.
The four-month extension of the process is characterised by a 61% increase in bitcoin prices ...
Mining company BIT Mining Limited introduced its new LD4 miner
The mining company BIT Mining Limited, registered on the New York Stock Exchange, has introduced its new LD4 miner for Dogecoin (DOGE) and Litecoin (LTC).
The LD4 boasts a hash rate of 5000 MH/s with a power consumption of 0.71 W/MH. This is almost half as much as the Bitmain L7, which delivers ...
Bitmain mining company fined by Beijing Taxation Bureau
Colin Wu, a prominent cryptocurrency journalist, reported that Bitmain, the world's largest bitcoin miner, received a reprimand from the Beijing Taxation Bureau and had to pay about $3.55 million in April 2023 as a penalty for not paying individual income taxes.
An industry insider recalled that ...
US Congress introduced a bill designed to protect the rights of miners and bitcoin holders
Cody Harris, a member of the US House of Representatives, has proposed a bill designed to protect the rights of those who own and mine bitcoin in the state of Texas.
Harris' proposal is that the interests of digital currency owners should be protected under Article I, Section 9 of the Texas ...
