Mining

One River Digital, a cryptocurrency-focused hedge fund offering exposure to Bitcoin (BTC) and Ether (ETH), has closed its first funding round after launching last year. One River Digital president Sebastian Bea confirmed Wednesday that the company had raised $41 million in a Series A financing round from investors, including Goldman Sachs and Coinbase Ventures. Other
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As the Bitcoin (BTC) network hashrate continues recovering amid global miners accumulating more capacity, the cryptocurrency is getting increasingly difficult to mine. On Sept. 21, the Bitcoin network posted another mining difficulty adjustment, rising 3.2% to hit a difficulty rate of nearly 19 trillion, according to data from blockchain explorer BTC.com. The latest adjustment makes
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Major Bitcoin (BTC) mining company Genesis Digital Assets has secured $431 million in funding to expand its industrial-scale mining operations in the United States and Nordics. The new funding round was led by Paradigm, one of the biggest cryptocurrency investment companies backing major industry players like Coinbase and FTX. Paradigm co-founder Matt Huang has also
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Bitcoin miner are accumulating as the network hash rate continues to recover according to on-chain analytics provider Glassnode. In its Sept. 20 Week on Chain report, glassnode has stated that miner BTC balances are increasing, with wallets associated with miners having stockpiled 14,000 BTC worth roughly $600 million over the past six and a half
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The XYO Network lets anyone turn their cellphone into an edge node with a proof-of-origin chain and bound witness technology using their partner app, “COIN”. With COIN, users can ‘geomine’ to earn crypto rewards, in exchange for participating in XYO’s decentralized network of devices. XYO describes geomining as the act of exploring and discovering digital
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Bitcoin mining and power generation company Greenidge is set to complete a merger with customer and technical support solutions provider Support.com to become the latest publicly listed mining firm.  Once the merger transaction is complete, Support.com Inc. will become a wholly-owned subsidiary of Greenidge Generation Holdings Inc. The new entity’s Class A shares will trade
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As Russian cryptocurrency advocates are working to attract global crypto mining operators, local lawmakers have gotten more serious about regulating the industry. Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, claimed that Russian lawmakers are now considering recognizing the crypto mining industry as a form of entrepreneurship under local business laws,
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Blockchain infrastructure developer Blockstream has partnered with Macquarie Group, an Australian multinational investment bank, to launch a new pilot for a Bitcoin (BTC) mining facility with a mandate to explore carbon-neutral alternatives.  As part of the pilot project, Macquarie Group is investing in one of Blockstream’s enterprise-grade mining facilities, the companies announced Wednesday. This will
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The cryptocurrency mining market in Vietnam is reportedly reviving amid the renewed crypto rally, where Bitcoin (BTC) surged above $51,000 for the first time since May. Crypto-related entrepreneurs and enthusiasts in Vietnam have witnessed a significant uptick in demand for crypto mining rigs in the country, local news agency VnExpress reported Sept. 6. Quang Thuan,
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A cryptocurrency mining company has reported profitable growth in Q2 reports as a result of global mining initiatives. According to its financial report, the company achieved net revenues of approximately US$445.1 million in the second quarter, an increase of 146 times from the previous quarter.  With 95% of total revenue earned from mining pools, this
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Iran’s Ministry of Industry, Mine and Trade reportedly dismissed claims by leading power company Tavanir that blamed illegal cryptocurrency miners for the ongoing power shortages in the country. According to a report by the Financial Tribune, Alireza Hadi, the ministry’s director of investment and planning, said that the figures announced by Tavanir “seem to be
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Belarusian President Alexander Lukashenko has called on the government to mine cryptocurrency use spare power infrastructure. Lukashenko spoke at the opening of the Petrikovsky mining and processing plant on Aug. 27, urging workers to move into crypto mining in Belarus instead of pursuing low-paying farming positions abroad, Russian news agency RBC reported. The president said
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Authorities from Russia’s Zavolzhsky district have found a 34-year-old local man guilty of stealing cryptocurrency mining equipment worth more than 1.6 million rubles (nearly $22,000). According to the report shared by the Prosecutor’s Office of the Yaroslavl Region, the state prosecutor confirmed that the Yaroslavl resident was found entering a friend’s garage unlawfully back in
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