Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or declare bankruptcy Notable Bitcoin mining bankruptcies in 2022 came from Core Scientific, filing for bankruptcy, but BTC’s early 2023 …

The humble university dorm is a place for students taking their undergraduate degrees to study, rest, make new friends, host wild dorm parties and, of course, mine Bitcoin (BTC). A master’s student in market research and self-described “data guy,” Blake Kaufman, has hooked up an S9 Bitcoin miner to the Bitcoin network. He won the S9 miner in a raffle at a mid-Michigan Bitcoin meetup and immediately set about learning how to use it. Blake has consistently shown up to every https://t.co/2Q6OuIwW4O event with at least one friend, a tremendous attitude, and unmatched enthusiasm. Glad you won the S9 raffle! …

Bitcoin (BTC) miner CleanSpark is expanding operations in the state of Georgia, adding to its mining capacity despite the ongoing bear market. Groundbreaking on a new 50-megawatt Bitcoin mining facility in Washington, Georgia, is underway, with expected completion in late spring, CleanSpark disclosed on Jan. 19. The nearly $16 million expansion is expected to increase the company’s hashrate by 2.2 exahashes per second, with total hashrate reaching as high as 8.7 EH/s. The expanded facility will host up to 16,000 miners, including newly added Antminer S19j Pro and Antminer S19 XP models. Expansion alert: $CLSK has broken ground on phase …

Customers are suing Compass Mining for over $2 million, alleging fraud, after the company cut ties with Russian hosting company Bit River and failed to return customers’ Bitcoin machines, citing a non-applicable United States sanction as the reason. According to a court document filed on Jan. 17, Compass Mining issued a notice in April 2022 that it has terminated its “relationships and dealings with Bit River” due to the sanctions imposed by Executive Order 14024. It is alleged that Compass “did not offer” to return or even retrieve the assets that its customers entrusted the company with to host at …

2022 was “the perfect storm” for Bitcoin (BTC) miners, according to Jaime Leverton, CEO of Hut8 mining, one of the largest crypto miners and digital asset experts in the space. Leverton sat down with Gareth Jenkinson, senior reporter at Cointelegraph, in an interview at the World Economic Forum in Davos, Switzerland. Topics included were the 2022 bear market, Web3 diversification and, crucially, Bitcoin’s growing positive impact on the environment and broader economy. Leverton shared that 2022 was a turbulent year for miners: “Obviously depressed Bitcoin prices, global hashrate continues to hit all-time highs and then an energy crisis is thrown …

The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023. The share price of Coinbase fell as low as $31.95 on Jan. 6, before shooting up to $54.14 by the close of trading on Jan. 17. The rising share price will likely be accompanied by a huge sigh of relief for Coinbase executives after a challenging 2022 saw it cut 20% of its workforce and decide to wind down its Japanese …

The beginning of 2023 has provided Bitcoin (BTC) with bullish indicators and the rally to a year-to-date high at $21,647 has crypto traders hopeful that the worst part of the bear market has ended. The surge effect of BTC’s bullish price action is also carrying over to Ether (ETH) and Bitcoin mining stocks. The reduction in Bitcoin Fear and Greed index to neutral is possibly driven by volume increases, Bitcoin on-chain data and BTC price decoupling from equities markets. While not all analysts believe a market bottom is in, let’s dive into the data. Trading volume and volatility return Bitcoin’s …

The Bitcoin (BTC) price rebound to a multi-month high has rubbed onto the mining stocks as well. Many of these crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also came as a relief for the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity last year. Bitfarms, one of the top BTC mining firms registered a 140% surge in the first two weeks of January followed by Marathon Digital Holdings Inc. with a 120% surge. Hive Blockchain Technologies Ltd. saw its stock value nearly double in …

The New York Public Service Commission (PSC) was sued by environmental activists on Jan. 13 for approving the takeover of a cryptocurrency mining facility in the state. According to The Guardian, the state Public Service Commission (PSC) is responsible for regulating public utilities, and authorized in September 2022 the conversion of the Fortistar North power plant into a crypto mining site. The facility is located in Tonawanda, a city less than ten miles from Niagara Falls, and was set to be taken over by the Canadian crypto mining firm Digihost. Plaintiffs claim that the approval violates New York's climate law …

Canada has remained a peculiar regulatory alternative to the neighboring United States in regard to cryptocurrency. While its licensing process has become more stringent than in some countries, Canada was the first to approve direct crypto exchange-traded funds. State pension funds have invested in digital assets, and crypto mining firms have moved to the country to take advantage of the cool temperatures and cheap energy prices. But the gold rush for miners in Canada may be slowing down. In early December, the province of Manitoba — rich in hydroelectric resources — enacted an 18-month moratorium on new mining projects. This …

Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On Jan. 13, Bitfarm disclosed that it is working with creditors to modify a loan agreement for Backbone Mining Solutions, or BMS, which owns and operates Bitfarms’ 20-megawatt mining facility in Washington state. BMS received a $32 million equipment financing loan from Bitcoin lender BlockFi in February 2022. The loan was secured against existing BMS assets, including its miners and a certain percentage of BTC produced by its mining rigs. …

The mining arm of crypto lender Celsius Network has issued a notice for the sale of $1.3 million worth of mining equipment as part of its bankruptcy case. In a Jan. 11 filing with the United States Bankruptcy Court of the Southern District of New York, Celsius said it will be selling 2,687 MicroBT M30S ASIC rigs to investment firm Touzi Capital. Touzi, which invests real estate and blockchain, will pay Celsius Mining more than $1.3 million for the miners, located at a Texas facility. According to Celsius, Touzi made the best offer for the miners following discussions with “several …