100%: Public Bitcoin Miners Sold Almost Everything They Mined in 2022
Publicly listed Bitcoin miners sold off almost all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created "a persistent headwind" for the Bitcoin price or not. Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the 40,700 BTC mined by Core Scientific, Riot, Bitfarms, Cleans Park, Marathon, Hut8, HIVE, Iris Energy, Argo and Bit Digital from Jan. 1 to Nov. 30 was sold off. (Cointelegraph)
Bitcoin ASIC Miner Prices Hovering at Lows Not Seen in Years
Bitcoin ASIC miners — machines optimized for the sole purpose of mining Bitcoin — are currently selling at bottom-of-the-barrel prices not seen since 2020 and 2021, in what is being viewed as another sign of a deepened crypto bear market.
Bitcoin Mining Pool BTC.com Reports $3M Cyberattack
Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers.
Bitcoin Hashrate Drops Nearly 40% as Deadly U.S. storm Unplugs Miners
The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. Bitcoin hashrate, the level of computing power used for mining and processing transactions, came in at 155.28 exahashes per second on Saturday, down from 253.88 exahashes on Wednesday, according to data from IntoTheBlock. Bitcoin miner Riot Blockchain tweeted on Thursday that it was closing down its facility “due to the extreme weather condition in Texas.” (forkast)
Bitcoin Mining Companies Close Out Year $4 Billion in Debt
Public Bitcoin mining firms have struggled under the weight of a year-long bear market and are set to end 2022 with a collective debt profile of more than $4 billion, according to a report by Hashrate Index.
Bitcoin Mining Firm Blockware Solutions Was Accused by a Customer
Bitcoin mining equipment and hosting provider Blockware Solutions was accused by a customer in a lawsuit of breach of contract, negligence, deceptive trade practices and fraud.
Europe’s Last Bitcoin Mining Refuge Is No Longer Viable
Bitcoin miners operating in northern Norway and Sweden, where they sought refuge from sky-high electricity prices earlier this year, are powering down for the winter as energy tariffs surge. Just a few months ago, European miners flocked to the continent’s northernmost regions, which have among the cheapest power prices in the world due to abundant hydroelectric power and low demand, as prices across the continent soared. Some even left for the Americas. Now they’re facing record-high prices – and it is only the start of winter, when demand rises for heating. (Coindesk)
BTC Miner Core Scientific Gets Interim Nod for $37.4M Bankruptcy Loan
Core Scientific is one of the largest cryptocurrency mining companies in the United States, but filed for Chapter 11 bankruptcy on Dec. 21 as a result of rising energy costs, declining revenue and the price of BTC in 2022. In a public statement made on that same day, Core Scientific outlined that it intends to “move swiftly through the restructuring process” and maintain its self-mining and hosting operations. (Cointelegraph)
Core Scientific to File for Bankruptcy, Continue Mining Through Process
Core Scientific, one of the industry's largest bitcoin miners, plans to file for bankruptcy Wednesday morning in Texas, according to a report by CNBC, but will continue to mine bitcoin throughout the process. While many mining companies have experienced financial distress during the bear market, Core Scientific is the first publicly listed company to declare bankruptcy. On Tuesday, bitcoin miner Greenridge reached a debt restructuring deal with NYDIG that will allow the firm to avoid bankruptcy for now. (Coindesk)
Bitcoin Miner Greenidge Strikes Deal with NYDIG to Restructure Debt
Troubled U.S.-based Bitcoin mining firm Greenidge Generation Holdings Inc. has entered a debt restructuring agreement with NYDIG, a cryptocurrency service provider to which Greenidge owes US$74 million. The Nasdaq-listed miner plans to retain ownership of mining rigs with 1.2 EH/s capacity but may transfer its credits, coupons and additional assets to NYDIG under the agreement. (forkast)
![[2025 Annual Guide] Crypto Data Engineering Guide](https://img.cointime.com/images/rWNk2dKKxkbIZHo0tclX8DsjdovJwQKo2b5kMDYP.jpg)
