News and Events in the Mining Industry
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 ...
Liquidstack recently closed a Series B funding round
LiquidStack, the world leader in liquid immersion cooling, recently closed a Series B funding round, with all funds coming from diversified company Trane Technologies (TT).
Joe Capes, head of the start-up, said that the funds raised would be used to increase production. Their plan includes building ...
Miners were the first to start selling Bitcoin when it soared above $26,000
Bitcoin soared to a peak of $26,000 this week, the highest since June 2022. Unfortunately, Bitcoin's rise was short-lived as major Bitcoin holders began to unload their stocks.
According to a report by CryptoQuant, miners were the first to start selling, as Bitcoin began to gain momentum due to ...
Founders of crypto pyramid AirBit Club to be sentenced to prison
The six founders and organisers of the cryptocurrency pyramid AirBit Club will be sentenced to up to 30 years in prison, with sentencing expected to be announced later this year.
The fraudulent organisation operated from 2015 to 2020, convincing investors that they would receive passive income ...
Bitcoin mining reached industrial scale in Iceland
Iceland recently became one of the first countries in Europe where bitcoin mining has reached an industrial level.
According to Jaran Mellerud, a researcher in the field, it is estimated that the bitcoin mining sector in the country uses 120 MW, which is 1.3 percent of global hash rate capacity. ...
