Mining

LM Funding America, Inc. Provides Year-End Business Update; Reports Successful Repositioning into Bitcoin Mining Strategy

Lm Funding America Inc 2023-04-01 61341 views Mining

Full-Year 2022 Revenue Increased by 93% and Mined 51 Bitcoins in the Fourth Quarter 2022 Approximately 2,800 Mining Machines Fully Operational Providing the Company with 280 PH/s of Mining Capacity at 2022 Year-End Reports Working Capital of $8.3 Million and LMFA Stockholders' Equity of $49.2 Million ($3.76 per share) as of December 31, 2022 TAMPA, Fla., March 31, 2023 /PRNewswire/ -- LM Funding America, Inc. (NASDAQ: LMFA) ("LM Funding" or the "Company"), a cryptocurrency mining and technology-based specialty finance company, today provided a business update and reported financial results for the year ended December 31, 2022.

Bitcoin Miner Stronghold Raises Year-End Hashrate Guidance to 4 EH/s

Stronghold Digital Mining Inc 2023-03-31 66863 views Mining

Stronghold Digital Mining (SDIG) raised its year-end bitcoin mining computing power forecast to 4 exahash/second (EH/s) from 3 EH/s, according to a Wednesday statement. For the fourth quarter, the company's net loss widened 45% to 74 cents per share from the year-earlier quarter. The company widened its 12-month revenue forecast to between $94 million and $129 million from a previous range of $108 million-$114 million. Mining profitability, which is measured as the hashprice, is seen 7 cents to 10 cents per terahash/second (TH/s) per day. Previously, it said it expected a hashprice of approximately 9 cents/TH/s. An exahash is 1 million terahash.

Crypto Winter Ends Era of Bitcoin Mining ‘HODLers’

coindesk 2023-03-16 57656 views Mining

Bitcoin miners are no longer able or willing to hold onto all of their mined digital assets indefinitely as a slump in prices is eating into their margins. The last publicly listed bitcoin miner to pursue a 100% “HODL” strategy since the bull market, Hut 8 Mining (HUT), said last week that it finally gave in and sold 188 bitcoins in February to fund operations. Miners in general have found it difficult to raise funds for operations, including in the form of capital in public markets, amid a slide in the broader financial market and narrowing margins. Some of the miners that opted to hold onto their mined bitcoin (BTC) through the last bull market and into this bear cycle are now starting to sell the coins, mostly to pay for their daily operating expenses.

BIT Mining Announces Sale of Remaining Shares of Crypto Flow Technology Limited

BIT Mining 2023-03-16 52285 views Mining

AKRON, Ohio, March 15, 2023 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that the Company entered into a share sale and purchase agreement (the "Sale and Purchase Agreement") with an unaffiliated third party (the "Buyer"), pursuant to which the Company agreed to sell, and the Buyer agreed to purchase, all of the Company's remaining share ownership in Crypto Flow Technology Limited ("Crypto Flow"), previously known as Loto Interactive Limited, namely, 48,195,605 shares of Crypto Flow, representing approximately 8.79% of the total issued share capital of Crypto Flow, at the price of HK$0.38 per share (the "Sale Price") for the total consideration of HK$18,314,330 (the "Transaction").