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Bitcoin Mining
Bitcoin Production Costs Hit $49,500 as Wall Street Miners Face Margin Squeeze
- Overall fees reached $96,100, including depreciation and stock compensation.
- Miners are responding by diversifying into AI operations and securing strategic power contracts.
Wednesday, 30/10/2024 | 15:42 GMT by
Damian Chmiel
Wall Street Bitcoin Miner Expands to Ethiopia to Combat 170% Surge in Production Costs
- BitFuFu Inc. is acquiring an 80-megawatt Bitcoin mining facility in East Africa to achieve 4.6 EH/s of mining capacity.
- The specter of record-high BTC production costs has painfully slashed the profits of this and many other crypto miners.
Tuesday, 22/10/2024 | 11:21 GMT by
Damian Chmiel
Wall Street Bitcoin Miner's AI Pivot Sparks Investor Lawsuit
- Iris Energy faces a class action lawsuit for allegedly misrepresenting its data center capabilities for high-performance computing.
- The lawsuit claims the company overstated its prospects and facilities' suitability for AI applications.
Thursday, 10/10/2024 | 09:07 GMT by
Damian Chmiel
MARA Stock: Shares of Wall Street's Biggest Crypto Miner Set to Surge 50%
- Check Marathon Digital's AI plans and how they could lead to a potential rally in MARA stock.
- According to Macquarie, the company's shares can jump to $22, testing mid-term highs.
Thursday, 03/10/2024 | 06:55 GMT by
Damian Chmiel
Bitcoin Miners Go BRRR, While Profit Margins Go Brrrr-oke
- BTC mining difficulty hit a record high of 92.67 trillion, slashing profit margins among producers.
- Although Wall Street BTC miners are investing in new equipment, they are not keeping up with network development.
Thursday, 12/09/2024 | 10:10 GMT by
Damian Chmiel
Top Wall Street Bitcoin Miners Report August Dip as Digital Gold Rush Slows
- Major publicly traded Bitcoin mining companies reported decreased production in August compared to July.
- Factors including increased network difficulty and power costs contributed to the decline.
Thursday, 05/09/2024 | 07:45 GMT by
Damian Chmiel
Wall Street's Bitcoin Miners Haven't Seen Such Weak Revenues in a Year
- Due to increased mining difficulty, August's income fell to $827.56 million, the lowest since September 2023.
- This marks a 57% drop from March's peak, highlighting growing challenges in the mining sector.
Monday, 02/09/2024 | 11:35 GMT by
Damian Chmiel
Wall Street Bitcoin Miner Loses $29 Million, Six Times Less Than Last Year
- IREN reported a significant growth in FY24, with record Bitcoin mining revenue and improved profitability.
- The company is on track to expand its operations in both Bitcoin mining and AI cloud services.
Saturday, 31/08/2024 | 14:22 GMT by
Damian Chmiel
This Wall Street Bitcoin Company Mines Revenue despite Bitcoin Drought
- Although the number of mined cryptos fell almost 50%, Argo Blockchain reported an 18% revenue increase in H1 2024.
- However, the net loss was further deepened by loan repayments and impairment on mining rigs.
Wednesday, 28/08/2024 | 07:10 GMT by
Damian Chmiel
Bitcoin miner Core Scientific Pays Down $267 Million Debt, Boosts Cash
- The company repaid massive liability using proceeds from a recent convertible notes offering.
- It aims to expand its HPC hosting capacity and strengthen its Bitcoin mining business.
Wednesday, 21/08/2024 | 09:05 GMT by
Damian Chmiel
Wall Street Bitcoin Miners Pivot to AI, Eyeing $38 Billion Opportunity
- BTC mining companies are diversifying into AI and high-performance computing to double revenues.
- VanEck analysts project significant value creation potential from this strategic shift.
Tuesday, 20/08/2024 | 07:16 GMT by
Damian Chmiel
Largest Bitcoin Miner on Wall Street Faces 20% Price Cut despite High BTC Production
- Jefferies recently lowered the recommendation for Marathon Digital Holding's shares to $17.
- They claim that Bitcoin mining became less profitable in July and may continue to decline in the coming months.
Monday, 19/08/2024 | 08:57 GMT by
Damian Chmiel
Largest Bitcoin Miner on Wall Street Just Bought $249 Million Worth of Bitcoin
- Marathon Digital Holdings successfully closed a convertible senior notes offering in two days.
- MARA currently produces nearly 700 BTC per month and has the biggest market cap among crypto mining firms.
Thursday, 15/08/2024 | 09:15 GMT by
Damian Chmiel
3rd Largest Wall Street Bitcoin Miner Raises Bitfarms Stake, Takeover Defense Intensifies
- Riot Platforms has increased its stake in rival platform to 18.9%, continuing its push for board changes.
- The move follows Bitfarms' rejection of Riot's earlier acquisition offer.
Wednesday, 14/08/2024 | 06:59 GMT by
Damian Chmiel
This Wall Street Bitcoin Miner Paid Off Its Massive Debt 18M before the Initial Deadline
- Argo Blockchain has fully repaid its $35 million loan from Galaxy Digital ahead of schedule.
- The loan saved the BTC miner from potential bankruptcy at the end of 2022.
Monday, 12/08/2024 | 07:00 GMT by
Damian Chmiel
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