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Bitcoin miner Phoenix Group’s $370m IPO overwhelms with massive subscription rate

Phoenix Group, a major bitcoin mining service provider based in Abu Dhabi, recently announced the successful completion of its Initial Public Offering (IPO), securing a substantial $370 million in capital.  In a statement released this week, Phoenix Group revealed the IPO, initiated on the Abu Dhabi Securities Exchange (ADX), witnessed an

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Tether to become a Bitcoin miner with a $500m investment in 2024

Tether Holdings ventures into Bitcoin mining, investing $500 million to establish operations in Uruguay, Paraguay and El Salvador. USDT stablecoin provider Tether is venturing into Bitcoin mining, aiming to position itself as a major crypto-miner in this highly competitive field. The company will invest approximately $500 million in the next half-year,

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Celsius to exit bankruptcy and restart as creditor-run Bitcoin miner

Celsius Network is revamping into a Bitcoin mining company, promising customer repayments and an exit from bankruptcy.  Cryptocurrency lending platform Celsius Network has secured court approval to transition into a Bitcoin mining company owned by its creditors. This development is part of a comprehensive strategy to compensate account holders whose funds

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English school turned BTC miner in China expands capacity with 220 new units

China-based BTC Digital announced the purchase of 220 new Bitcoin (BTC) mining units on Nov. 3, bringing its total number of machines to 2,174, with over 230PH/s of computing power. The new acquisitions are expected to become operational by the end of the month.The deal was made with “two unaffiliated

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