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The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare
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The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9
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Lines were drawn when the Ordinals protocol, which stores non-fungible tokens (NFTs) on Bitcoin, launched on the dominant blockchain last month. That showdown created two factions – purists who insist on using Bitcoin exclusively for payments and Ordinals fans who welcome NFTs, including this “Taproot wizard” sketch that nearly filled
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The holding company for the crypto-friendly bank, BankProv, has revealed it’s no longer providing loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them throughout 2022.According to a Jan. 31 filing with the United States Securities and Exchange Commission (SEC), BankProv has already
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Dennis Porter, chief executive officer of the Satoshi Action Fund, is taking the fight for hearts and minds on Bitcoin mining to Washington, D.C. and beyond in an effort to support friendly legislation.Porter, who first discovered Bitcoin (BTC) in 2017, told Cointelegraph his path on advocating the benefits of mining
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The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the
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Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing efforts to repay its creditors.A court document filed on Jan. 30 in the United States Bankruptcy Court for the District of New Jersey stated that the approval for BlockFi to
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Virunga National Park in the Democratic Republic of the Congo has become the first national park in the world to run a Bitcoin (BTC) mine in an effort to protect its forests and wildlife. Cryptox spoke with Sébastien Gouspillou, CEO of Big Block Green Services, and the man who introduced
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Bitcoin mining stocks usually follow BTC’s price because it directly influences the company's earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX's collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core
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The 56 million shares, with a current value of around $577 million, are the subject of a complex tussle between BlockFi, bankrupt crypto exchange FTX, FTX founder Sam Bankman-Fried, the Antigua-based liquidators of the shell company that nominally owned the shares and the U.S. Department of Justice (DOJ). Source
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