Bitcoin Mining Difficulty To End Year Rising by 3%
Bitcoin mining difficulty is expected to increase by at least 3% on Dec. 19 for the final adjustment of the year, according to Bitrawr Bitcoin difficulty estimator.
Bitcoin Miner Core Scientific Receives $72M Offer From Creditor to Avoid Bankruptcy
One of Core Scientific’s largest lenders – B Riley – has offered to loan out $72 million to the embattled Bitcoin miner in a bid to avoid a potentially unnecessary and value-destructive bankruptcy proceeding. According to the released statement, B Riley plans on providing non-cash pay financing on favourable terms with more than two years of runway for the firm to achieve profitability. Core Scientific already has an existing loan with B Riley totaling $42 million. (cryptopotato)
Creditor Offers Troubled Bitcoin Miner Core Scientific $72M to Avoid Bankruptcy
United States-based financial services company B. Riley has offered embattled Bitcoin mining firm Core Scientific $72 million to fix its debt issues and avoid bankruptcy.
Creditor offers Bitcoin Miner Core Scientific $72M to Avoid Bankruptcy
Financial services platform B. Riley has offered Bitcoin miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top lender to Core Scientific with $42 million in loans currently outstanding, outlined the terms of the financing agreement in a Dec. 14 letter noting it's prepared to fund the first $40 million “immediately, with zero contingencies.” (Cointelegraph)
CleanSpark Reports Fourth Quarter and Year End FY2022 Financial Results
CleanSpark, Inc. America's Bitcoin Miner™, today reported financial results for the three and twelve months that ended September 30, 2022. "Our business model and capital strategy continue to be standouts in our industry," said Zach Bradford, CEO. "Despite macro headwinds in the economy and bitcoin mining industry, our infrastructure-first approach and financial discipline have allowed us to grow in this bear market. (prnewswire)
Bitcoin Mining Report: Argo Blockchain Tumbles 38% After Bankruptcy Gaffe
Argo Blockchain's shares plunged 38% in the UK and 37% in the U.S. in its first day of trading after the miner <a href="https://www.theblock.co/post/194230/bitcoin-miner-argo-accidentally-said-its-filing-for-chapter-11-but-is-actually-trying-to-avoid-that-fate-by-selling-assets">accidentally</a> published a document saying that it had filed for Chapter 11 bankruptcy.
Rural Kenya Harnesses Stranded Potential Energy to Mine BTC Using Hydropower
A rural village in Kenya has been using off-grid energy generated using hydropower to mine Bitcoin (BTC) and power 500 families nearby.
Kenya-Based Bitcoin Mining Company Raises $2 Million in Seed Investment Led by Jack Dorsey-Owned Firm
Gridless, a bitcoin mining company operating from Kenya, recently raised $2 million in seed investment from Block, a digital payments company owned by Twitter founder Jack Dorsey, and Stillmark. The bitcoin mining firm is reportedly planning to use the capital raised to fund its expansion into other African countries.
Kazakhstan’s Parliament Moves Forward on Bitcoin Mining Legislation
Kazakhstan is advancing new legislation to regulate local crypto miners.
Bitcoin Mining Report: Marathon Shares Fall 7% After November Operational Update
Almost all of the bitcoin mining stocks tracked by The Block traded lower on Wednesday, and three firms saw double-digit declines.
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