Hong Kong Firm With Ties to Bitmain Reorganizes to Focus on Crypto Asset Management and Hedging
A Hong Kong firm with ties to crypto mining manufacturer Bitmain reorganized its business to bring crypto asset management and hedging services to the forefront, as the city pushes for a comeback in the digital asset space. In the past year or so Hong Kong has lagged behind its peer cities, like Singapore and Dubai, due to concerns over its regulatory landscape and the influence of mainland China, which has banned crypto trading and mining.
Hive Earned 184 BTC From Curtailing Its Power Use in December — That's Almost As Much As it Mined
Canadian bitcoin miner Hive Blockchain (HIVE) earned about 184 BTC ($3.1 million) by curtailing its power use in December whereas it mined the equivalent of 213.8 BTC.
Poolin Bitcoin Mining Hash Rate Share Falls by 94% From ATH
China-based Bitcoin mining pool, Poolin, registers a record decline in hash rate share to 1% from its all-time high of 18% – a 94% decline, according to data from Glassnode.
Marathon Digital Experiments With Overclocking To Increase Competitive Advantage
One of the largest Bitcoin mining operations in North America, Marathon Digital Holdings, has shared in an update that it has been experimenting with overclocking to increase its competitive advantage in the Bitcoin mining industry.
Singapore Arbitrator Rules Against Mining Software Firm Poolin’s IOU Model, But the Firm Hasn't Paid Yet
Poolin had issued I-owe-you tokens in exchange for its users’ crypto deposits. A Singapore arbitrator said that’s not OK.
1.5M Houses Could Be Powered by the Energy Texas Miners Returned
During the winter storm in Texas in December 2022, Bitcoin (BTC) mining operators returned up to 1,500 megawatts of energy to the distressed local grid. It became possible due to the flexibility of mining operations and the ancillary services, provided by the state authorities.
Core Scientific Will cut Power to 37,000 Celsius Miners
Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. The agreement marks the end of a dispute that has been ongoing since last October when Core said it would seek a resolution on the matter in court. Celsius owes Core $7.8 million related to power costs for the miners through November 2022, according to court documents. (The Block)
Bitcoin Mining Difficulty Down 3.6% While Revenue Pops 0.9% in December
Bitcoin mining difficulty is down 3.6%, following a winter storm that led a number of miners to power down.
Stronghold Digital To Restructure $18M Debt With Convertible Preferred Shares
Stronghold Digital Mining announced on Jan. 3 that it has reached an agreement with its noteholders to restructure $17.9 million of outstanding debt.
Bitcoin Mining Difficulty Sees Sharp 3.59% Drop
The bitcoin mining difficulty had adjusted upward for the majority of 2022, recording its highest correction in the same year. However, 2023 kicked off with a downtrend as the mining difficulty has begun to drop. A sharp drop in this metric recorded in the early hours of Tuesday could be the start of a trend reversal in this regard.
