Crypto Winter Ends Era of Bitcoin Mining ‘HODLers’

    coindesk 2023-03-16 56576 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 51281 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").

    Why Do Bitcoin Miners Need Renewable Energy?

    2022-03-29 1102 views Mining
    The mining operations of most companies consume a lot of fossil energy and emit a lot of carbon dioxide, which is why many bitcoin mining companies have received a lot of criticism. In the early days of bitcoin mining, miners could obtain b...

    Energy companies are becoming major players in the cryptocurrency space.

    2022-03-27 1020 views Mining
    Exxon Mobil Corp. is working on a project to use exhaust gas from its North Dakota oil wells to power bitcoin mining operations. Exxon Mobil Corp.  launched the project in January last year and is looking to build similar projects in Alaska...

    Young people in the cryptocurrency space

    2022-03-25 1293 views Mining
    Investors and major financial institutions have been paying close attention to cryptocurrencies due to their huge gains since their emergence. At the same time, some ordinary people have also joined the money game of chasing cryptocurrenc...

    Bitcoin mining difficulty is lowered again, report shows that listed Bitcoin mining companies will expand in 2022

    2022-03-24 921 views Mining
    According to the latest data, the Bitcoin mining difficulty was lowered by 0.35% to 27.45T. Since March 4th, the Bitcoin mining difficulty has been lowered twice in a row. Previously, Bitcoin had four consecutive reductions in mining diffic...

    South Korean Government Considers Postponing Crypto Income Tax

    2022-03-19 1077 views Mining
    The presidential handover committee of the new group of Yin Xiyue’s government is considering delaying the implementation date of the new crypto income tax law from 2023 to early 2024.The new version of the Income Tax Act of the South Korea...

    U.S. SEC plans to amend the Securities Exchange Act, or have an impact on encryption and DeFi

    2022-03-19 836 views Mining
    The U.S. Securities and Exchange Commission (SEC) introduced proposed amendments to the Securities Exchange Act of 1934.There are discussions pointing out or having an impact on crypto and DeFi. The amendment calls for the definition of an ...

    Ukrainian commercial bank PrivatBank has restricted local currency purchases of bitcoin

    2022-03-19 807 views Mining
    Ukraine’s largest commercial bank, PrivatBank, has temporarily restricted its customers from using the national currency hryvnia (UAH) to buy bitcoin, following an order from the central bank.The restriction is related to the decision of th...

    Russia's central bank issues digital asset licenses to Sberbanks, a clear policy reversal

    2022-03-19 1034 views Mining
    The Central Bank of Russia has previously called on the government to ban cryptocurrencies in Russia. But on Thursday, the CBR added Sberbank, the country's largest lender, to its list of operators of its digital financial asset information...
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