Bitcoin Mining Pool F2Pool Accused of Censoring Transactions from Sanctioned Addresses
F2Pool, the third-largest Bitcoin mining pool, faced criticism on social media for allegedly censoring transactions from an address under US government sanctions. The controversy arose as many Bitcoin enthusiasts consider "censorship resistance" a fundamental principle of the blockchain. However, concerns have been raised by government officials worldwide that blockchain networks could be used to finance criminal activity and terrorism. F2Pool's decisions can have significant implications as they control a significant portion of the network's processing power.
Crypto lender Celsius Network scales back post-bankruptcy plans to focus on bitcoin mining
Crypto lender Celsius Network has scaled back its post-bankruptcy plans to focus solely on bitcoin mining, after receiving feedback from the US Securities & Exchange Commission (SEC) regarding its other planned business lines. The company had previously intended to earn "staking" fees by validating blockchain transactions and managing its legacy portfolio of cryptocurrency loans. Celsius said it now plans to hold back certain assets that would have been transferred to the new company, and instead liquidate them as part of the wind-down of its bankruptcy. The pivot has led to further negotiations with Fahrenheit, a consortium of bidders selected to lead the reorganised company.
Bitcoin mining company Greenidge Generation Holdings sells a U.S. mining farm to NYDIG to pay off $21.8 million in secured debt
Bitcoin mining company Greenidge Generation Holdings announced that it has sold a 22-acre, 44-megawatt (MW) Bitcoin mining facility in South Carolina, USA to NYDIG to pay off a $21.8 million secured debt. In 2023, Greenidge achieved a reduction in financial liabilities and reduced its debt by $85.3 million. The company currently manages $72 million in unsecured debt, which will mature in 2026.
BIT Mining Q3 financial report: revenue of US$77 million, total crypto assets of US$15.3 million
BIT Mining (NYSE stock code: BTCM) has released its unaudited financial results for the third quarter ending September 30, 2023. The company's Q3 revenue was $77 million, a significant decrease of $20 million from Q3 2022, but an increase of $2.9 million from Q2 2023. The company had a cryptocurrency asset impairment of $1.2 million and a net gain of $1.8 million from the sale of cryptocurrency assets in Q3 2023.
Tether to Invest $500M in Bitcoin Mining Venture
Tether Holdings Ltd has announced a 3-year plan to invest $500 million in its Bitcoin mining venture, with the aim of becoming one of the world's top Bitcoin mining companies. The funds will be used to construct crypto mining sites and purchase stakes in other companies. Tether hopes to hit 120 megawatts in its mining operations by the end of the year and 450 megawatts by the end of 2025. This move marks a pivot away from Tether's USDT token and could transform the competition around it.
Bitcoin mining company TeraWulf produced 994 BTC in the third quarter
TeraWulf, a Bitcoin mining company, released its third-quarter financial report, which showed that its self-mining business produced 994 BTC, an increase of 9.5% compared to the second quarter; revenue was $19 million, an increase of 22.6% compared to the previous quarter; it is expected to use the cash generated in the third quarter to repay about $7 million in debt, of which $5.5 million will be repaid in October 2023; the gross profit for the third quarter increased to $10.7 million, while it was $10.3 million in the second quarter.
Bitcoin mining company Mawson Q3 revenue was $11.3 million, producing 246 BTC
Bitcoin mining enterprise Mawson Infrastructure Group released its Q3 2023 financial report, with output of 246 BTC, a 35% increase QoQ; BTC revenue from self-mining increased by 41% to $6.9 million QoQ; as of September 30th, Mawson's revenue was $11.3 million, a 7% increase QoQ.
Daily Bitcoin mining rewards top $44 million for first time in 2023
According to data from Blockchain.com, on November 12th, the daily Bitcoin mining reward will surpass $44 million for the first time in 2023. The last time this number was seen was in April 2022.
Bitcoin mining difficulty increased by 3.55% to 64.68 T
According to BTC.com data on November 13th, BlockBeats reported that the Bitcoin mining difficulty adjustment occurred at block height 816480, with the mining difficulty increasing by 3.55% to 64.68 T, reaching a new historical high. Currently, the average network hashrate is 458.13 EH/s.
Renewable Energy Drives Bitcoin Mining, Environmental Impact Less Than 0.17% Globally
Fidelity Digital Assets' report offers a positive assessment of Bitcoin mining's environmental impact, noting that most Bitcoin mining relies on renewable energy sources. Data from the 'Global Cryptocurrency Benchmarking Study' estimates that 39% to 76% of miners use renewable energy, with Bitcoin mining's CO2 emissions accounting for only 0.17% of global emissions.
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