Stories tagged “Bitcoin Mining.”
8 stories
Ethiopia has drastically cut electricity supply to Bitcoin miners, reducing it to 23% of contracted levels due to severe hydropower shortages exacerbated by El Niño. This measure prioritizes power for households and manufacturers, despite Bitcoin miners contributing signi…
Hyperscale Data has ceased Bitcoin mining in Michigan to convert its facility into an AI data center, funded by a 79% reduction in its Bitcoin holdings.
Bitcoin ETFs saw significant inflows following a major hardware wallet exploit, reigniting the debate over self-custody risks. Meanwhile, Strategy plans to resume Bitcoin accumulation, and Bitcoin miners like Riot Platforms are pivoting to AI deals.
CleanSpark's shares fell 5.5% after the Bitcoin miner reported $138 million in quarterly revenue, narrowly missing Wall Street's consensus estimate and marking a 30.5% year-over-year decrease. The company also posted a net loss of $239 million for the quarter.
Nasdaq-listed Bitcoin mining company PowerCompute refinanced $18 million of existing debt through a new Bitcoin-backed credit facility with Arch Lending, securing an initial interest rate of approximately 2% APR.
Texas Governor Greg Abbott set a moratorium on approval of ERCOT-linked data centers pending an audit, but Bitcoin miners with operations in Texas are not expected to be impacted by this decision.
American Bitcoin, a publicly traded Bitcoin miner, reported a second-quarter loss due to the decline in Bitcoin's price but still added the largest cryptocurrency to its holdings, boosting its stack from 7,021 to 8,002 coins.
Miner deposits to Binance, softer spot demand and bearish chart signals are putting Bitcoin's $75,000 support to the test.