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Litecoin (LTC) is currently experiencing a sharp price correction, going down by more than 4% during the last hour, according to latest tracking from Coingecko. At the time of this writing, the crypto asset is trading at $75.94 after hovering around the $78 region for most of the day. With its recent
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Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan.A filing by the firm to the U.S. Securities and Exchange Commission on Nov. 21 revealed that it has
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The financing was a combination of senior debt and equity capital and included some returning investors such as Kestrel 0x1 as well as new ones, including Shima Capital, the company said in a statement. The startup has also bought Hydrokraft AS, a renewable energy-based data center in Norway, without disclosing
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Apecoin (APE) is currently having a challenging start for November as it continues to paint its chart in red, declining by almost
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According to a new filing with the U.S. Securities and Exchange Commission on Monday, Bitcoin (BTC) miner Iris Energy says it has received a default notice from mining rig manufacturer Bitmain Technologies.The notice alleged that Iris Energy failed to "engage in good faith restructuring discussions" for certain principal payments due
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The reason for the notice of default, which the lender sent to the miner on Nov. 4, is the company failed to engage in "good faith restructuring discussions" for the debt in question, according to a Monday filing with the U.S. Securities and Exchange Commission. Because Iris failed to engage
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The next time Bitcoin (BTC) comes under fire for energy consumption, remember this statistic. The banking industry uses at least 56 times more energy. That's according to cryptographer and founder of Valuechain, Michel Khazzaka: "I’m not saying it uses less or the same, just know it uses 56 times more than
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The energy use of the miners have been a topic of debate globally. Most recently, A group of seven Democratic lawmakers in Washington, D.C., led by Sen. Elizabeth Warren (D-Mass), said they are looking into the energy usage and carbon emissions of the bitcoin mining industry in Texas, where many
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Iris Energy said this week that some of its mining equipment aren't producing enough cash to meet its financing obligations. Source
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The machines are owned owned by special purpose vehicles that aren't guaranteed by the parent company. Source
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