CleanSpark Purchases 12,500 Bitcoin Mining Rigs for $40.5 Million to Increase Hashrate
CleanSpark has continued its trend of purchasing bitcoin mining rigs during the market downturn, acquiring 12,500 machines for $40.5 million. The new rigs will add 1.76 exahash/second of computing power to CleanSpark's operations, bringing them closer to their goal of 16 EH/s by the end of 2023. The first shipment of 6,000 machines will arrive in June, with the remainder arriving in August. CleanSpark has been acquiring assets from struggling miners during the bear market, with previous purchases including 45,000 Antminer S19 XPs in April and 20,000 rigs at a discount in February.
Bitcoin Mining Difficulty Reaches All-Time High as Hashrate Increases
Bitcoin's mining difficulty level hit an all-time high on Thursday, rising 3.4% as the network's hashrate also reached a record high. The difficulty level, which changes every two weeks, measures how hard miners have to work to verify transactions on a block.
Texas Bitcoin Mining Bill Stalls in State House Committee
A bill in Texas that aimed to limit bitcoin miners' involvement in cost-saving grid programs has been stopped in its tracks after failing to pass a committee in the state House of Representatives. The bill, which had previously passed unanimously through the state Senate, would have restricted bitcoin miners' participation in demand response programs to 10% and removed tax abatements for the industry. Dennis Porter, a lobbyist involved in the bill's process, tweeted that the news was a win for the bitcoin community and energy innovation in the US, and highlighted the campaign against the bill by industry groups. Texas is a major hub for bitcoin mining due to favorable regulation and cheap energy.
Bitcoin Mining Emissions Intensity Reaches New Low Amid Shift to Sustainable Energy Sources
Bitcoin mining has become more sustainable and environmentally friendly, with emissions intensity dropping to its lowest level ever, below 300g/KWh. The decline is due to the use of more sustainable energy sources and more efficient mining hardware.
Greenidge Generation Bitcoin Mining Facility in Upstate New York Faces Environmental and Economic Controversy
Greenidge Generation, a bitcoin mining facility in New York, has become a controversial topic in the debate over the environmental impact of mining. While some locals support the facility, others have raised concerns about its contribution to harmful algal blooms in Seneca Lake.
Bhutan Embraces Blockchain and Bitcoin Mining for Economic Growth
Bhutan, a Himalayan kingdom known for its unique focus on 'Gross National Happiness' as a development indicator, is incorporating new-age technology such as blockchain and drone innovation into its traditionally rural economy. Druk Holding & Investments (DHI), Bhutan's state-owned commercial holding enterprise, is leading the charge in technological adoption in the country. DHI recently partnered with Bitdeer, a Singapore-based crypto company, to raise $500 million for a crypto mining business. Bhutan's Bitcoin mining aspirations are grounded in the abundance of its hydropower resources, which could potentially make it the "biggest Bitcoin miner per capita in the world." However, the volatile nature of the crypto industry poses challenges to DHI's ambitious plans.
Marathon Digital Holdings Pledges To Match Up to $500,000 in Donations to Non-Profit Bitcoin Research and Development Firm Brink
Marathon Digital Holdings, a Bitcoin mining company, has pledged to match donations up to $500,000 to non-profit Bitcoin research and development firm Brink on a two-for-one basis during the Bitcoin 2023 conference in Miami Beach, Florida. After the conference, they will match additional donations on a one-for-one basis until December 31.
Bitcoin Mining Difficulty Hits New All-Time High, Signaling Increasing Network Competitiveness
Bitcoin's mining difficulty has reached an all-time high, indicating a competitive network and increased interest in the cryptocurrency. This rise in difficulty may be a precursor to a potential increase in Bitcoin adoption, leading to significant growth in its value and market demand. However, as mining becomes more challenging, it impacts the profitability of miners, which is closely tied to Bitcoin's spot price. The recent decline in weekly jobless claims in the US defies recession concerns in the labor market. Meanwhile, Bitcoin's technical outlook shows bearish indicators, with resistance at the $26,850 level and support at $26,000. The Cryptonews Industry Talk team has curated a list of 15 promising cryptocurrencies for 2023 that demonstrate strong potential for growth.
Bit Digital Expands Bitcoin Mining to Iceland Amid US Regulatory Pressure
New York-based Bitcoin mining company Bit Digital is expanding its infrastructure in Iceland by placing 2,500 newly bought mining machines there. The move is in response to growing regulatory pressure and a proposed cryptocurrency mining tax in the United States.
GoMining: Making Bitcoin Mining More Accessible and User-Friendly
GoMining is a Bitcoin mining venture that aims to make mining accessible to a wider audience by offering user-friendly options such as decentralized staking and NFT-based mining rewards. The project owns and operates a large number of BTC mining rigs across nine separate data centers located in the UAE, Norway, and Kazakhstan.
