Marathon Digital Links Slump in Bitcoin Mined To Weather Conditions in Texas and Drop in Transaction Fees
Marathon Digital, a Bitcoin mining company, has attributed its decrease in Bitcoin mined in June to weather conditions in Texas and a drop in transaction fees. Despite producing 979 Bitcoin in June, a 21% decline from May, Marathon Digital saw a 599% increase compared to June 2022.
Former Head of Georgian Co-Investment Fund Accused of Misappropriating Millions in Bitcoin
George Bachiashvili, the former head of the Georgian Co-Investment Fund, is facing allegations of misappropriation of cryptocurrency and money laundering. The case is being handled by the Prosecutor's Office of the Republic of Georgia, which claims that Bachiashvili misused a significant amount of Bitcoin in 2015.
Founder of Georgian Co-Investment Fund Charged With Cryptocurrency Misappropriation and Money Laundering
George Bachiashvili, founder of the Georgian Co-Investment Fund, has been charged with cryptocurrency misappropriation and money laundering. The Prosecutor’s Office of Georgia alleges that Bachiashvili misappropriated a large amount of Bitcoin in 2015, which was invested in Bitcoin mining.
UAE Gains More Ground In Becoming Middle East Bitcoin Mining Hub
Bitcoin mining companies are looking to the United Arab Emirates as a potential hub for crypto-mining in the Middle East, thanks in part to partnerships with major mining firms and Abu Dhabi's sovereign wealth fund.
Hut 8 To Relocate 6,400 Bitcoin Mining Rigs From Canada to Texas As Demand for AI and High-Performance Computing Surges
July 4 (Cointime) - Bitcoin mining company Hut 8 is relocating 6,400 rigs from its facility in Ontario, Canada to Texas due to increased demand for AI and high-performance computing. This move is part of the company's plan to revive its operations after facing hurdles, including a legal dispute with energy supplier Validus.
Ault Alliance Subsidiary BitNile’s Bitcoin Mining Operation Hits 2.1 Ahash per Second With Approximately 19,000 Active Miners
June 27 (Cointime) - BitNile Inc. (BNI), a wholly-owned subsidiary of Ault Alliance, released an unaudited update reporting that its Bitcoin mining operation currently has a hash rate of 2.1 ahash per second, with approximately 9,000 bitcoins. Bitcoin mining machines run in its Michigan data center, and another 10,000 Bitcoin mining machines are hosted through a strategic partnership with Core Scientific.
New York City Bathhouse Heats Pools with Bitcoin Mining Rig
June 22 (Cointime) - A Brooklyn bathhouse and spa called Bathhouse has sparked controversy by revealing that they operate a small-scale bitcoin mining operation to heat their pools. The company claims that the heat generated by their mining rig heats their pools, which then returns later in the process to cool the hardware.
NYC Bathhouse Uses Bitcoin Mining to Heat Pools, Sparks Controversy
June 21 (Cointime) - Bathouse, a New York City bathhouse and spa, has caused controversy by revealing their small-scale bitcoin mining operation that heats their pools. The company, located in Brooklyn, accepts Bitcoin payments and operates on a Bitcoin Standard. The heat generated by their mining process heats their pools, with the water returning later in the process to cool the hardware. Bathouse claims that their unique heating process could be implemented in other building solutions for creating heat and domestic hot water. However, the post has received mixed reactions, with some expressing concerns about transparency and the ethics of bitcoin mining.
CleanSpark to Acquire Two Bitcoin Mining Facilities in Georgia for $9.3 Million in Cash
June 21 (Cointime) - CleanSpark, a Nasdaq-listed bitcoin mining company, has announced its acquisition of two facilities in Dalston, Georgia for $9.3 million in cash. The facilities will host over 6,000 Bitmain Antminer S19 XPs and S19J Pro+s, adding just under 1 exahash per second (EH/s) to CleanSpark's hashrate.
Arkon Energy Expands to U.S. with Ohio Data Center Acquisition and $26M Funding for Bitcoin Mining Expansion
June 20 (Cointime) - Arkon Energy, a Melbourne-based data center infrastructure provider, has acquired a site in Ohio as part of its expansion into North America.
