Mining

As Bitcoin remains well-positioned for a steady recovery, the mining industry witnessed a 50% growth in revenue in terms of U.S. dollars. As Bitcoin shows a minor bull run, the connected mining ecosystems’ year-long struggle for survival has started to pay off. In the first month of 2023, the Bitcoin mining community experienced a 50% increase in revenue…

According to Northern Data AG, it generated a total of 2,798 BTC in the fiscal year 2022. Northern Data AG, a German company that specializes in Bitcoin mining and cloud computing, has released earnings results for its mining division. Northern Data AG said that in fiscal 2022, it mined 2,798 Bitcoin, up 315% from the previous…

Core Scientific estimates that canceling the agreement with Celsius will provide $2 million in revenue per month as long as Bitcoin stays around $16,700. Bankrupt cryptocurrency lender Celsius Network has agreed to let Bitcoin miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings. Core…

Bitcoin miner Argo Blockchain requested that trading be temporarily suspended on Nasdaq ahead of Wednesday’s open. The miner said two weeks ago that it was in “advanced negotiations with a third party” to sell certain assets to avoid filing for bankruptcy. Argo Blockchain, the UK-based company, is also listed on the London Stock Exchange, which…

Microsoft updated its policy terms to specify it will not allow cryptocurrency mining on its online services without prior written approval. The updated rule came into effect back on Dec. 1 and applies to all Microsoft’s users, including paid customers. The update prohibits users from mining on Microsoft’s online services, largely relating to its cloud…

Despite the liquidity crisis in the crypto sector, criminal activity targeting the crypto industry does not seem to be slowing down, Gulf News reported. The UAE cryptominers must beware of ‘cryptojackers,’ as 11% of all corporate users affected by ‘cryptojackers’ in the META region this year were from the UAE. According to cybersecurity and anti-virus…