Bitcoin Miner Marathon Hired Advisers to Help Bid for Its Partner Compute North
Marathon Digital Holdings Inc. has hired advisers to help navigate a potential bid for its partner Compute North, a troubled crypto miner currently going through bankruptcy, according to <a href="https://www.bloomberg.com/news/articles/2022-12-07/miner-marathon-digital-eyes-compute-north-assets-hires-advisers">Bloomberg</a>.
Marathon CEO Fred Thiel told Bloomberg his company had hired Guggenheim Partners and law firm Weil Gotshal & Manges to advise on both its exposure to Compute’s bankruptcy and a potential bid for the bankrupt data center.
Jack Dorsey’s Block Co-leads in $2M Seed Round in East African Bitcoin Miner
Gridless – a Kenyan-based Bitcoin mining company – has announced raising a $2 million seed investment round led by venture capital investor Stillmark and digital payments firm Block, Inc.
Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North
Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North.
Bitcoin Miners May Have Seen The Darkest In Q4 As BTC Rises Past $17,000
Bitcoin miners seem to be giving up on the prospect of holding the maiden crypto for long-term profit as they continue to sell large sums of the digital coin.
Mysterious Bitcoin Miner Shows Off Oldest Signature Dated Janaury 2009
Online forums are integral to the <a href="https://cointelegraph.com/news/the-btc-origin-story-who-designed-the-bitcoin-logo">Bitcoin origin story</a>, where <a href="https://cointelegraph.com/bitcoin-for-beginners/who-is-satoshi-nakamoto-the-creator-of-bitcoin">Satoshi Nakamoto</a> and early contributors collaborated to discuss and create a disruptive financial system from scratch. One of the oldest Bitcoin forums — bitcointalk.org — still preserves historical discussions around creating the Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) logo and the payment system.
Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware
Demand for powerful computing devices designed to mint bitcoin has surged in Russia during the fourth quarter of the year, spurred by their low prices amid declining crypto markets, the Russian business daily Kommersant reported. The country’s cheap electricity rates and expectations for a higher supply of second-hand miners have played a role as well.
Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity
During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) mining rigs are profitable. At a rate of $0.07 per kWh, profits begin to increase and data shows 16 different ASIC bitcoin mining devices are profitable with electrical costs at that rate.
Bitcoin Miners Operating in New York State Must Use 100% Renewable Energy or Leave
An abusive new law requires of the Bitcoin mining industry what New York State does not require of any other industry.
Crypto Mining and Staking Firm Foundry Buys Some of Troubled Bitcoin Miner Compute North's Assets
Crypto mining and staking firm Foundry will buy Compute North's sites in North Sioux City, S.D. and Big Springs, Texas that have a fully operational capacity of six MW and 11 MW, respectively, according to a statement on Tuesday.
