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Core Scientific sold a Cedarvale, Texas-based mining location to bankrupt crypto lender Celsius for $14 million, while also releasing $31 million worth of claims against the company. According to a court filing, Core Scientific jettisoned the mining location in Ward County, Texas. The deal with Celsius came to light in a
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The settlement “resolves the protracted and expensive litigation with Core, and cuts off the significant costs that would have been incurred if the parties were to fully litigate their claims,” a filing by Celsius’ lawyers said, describing the deal – under which Celsius also acquires Cedarvale, an 85-acre Texas mining
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Crypto giant Coinbase seems to be strategically steering its ship amid constant crypto industry turbulence in 2023. The company recently unveiled its lending platform for institutional investors, aiming to fill the void left behind by major players during 2022’s crypto winter, when firms such as Celsius Network, BlockFi and Genesis
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Texas Bitcoin miners have cut back 90% of their operations during the energy crisis after the state offered $31.7 million in energy credits. Amid an escalating power crisis driven by extreme weather conditions, Texas has turned to an unlikely ally for energy conservation: Riot Platforms, a major Bitcoin (BTC) mining firm. The
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Hackers have been using a Windows tool to drop cryptocurrency-mining malware since November 2021, according to an analysis from Cisco's Talos Intelligence. The attacker exploits Windows Advanced Installer — an application that helps developers package other software installers, such as Adobe Illustrator — to execute malicious scripts on infected machines. According to
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The Public Service Commission of the state of Kentucky has denied a proposed contract that would have allowed a mining firm to receive a discounted rate on electricity provided by the power company.In an Aug. 28 order, the commission denied a contract between Ebon International and Kentucky Power Company which
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Bitcoin mining has long been attacked by policymakers as an expensive, wasteful industry consuming power that would otherwise be going to households or valuable industries. Indeed, the scale of global Bitcoin mining is massive: Coin Metrics estimates that Bitcoin miners today consume 13.5GW of power, equivalent to 15% of the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Despite trimming debt and operational expenses, Argo Blockchain posted a net loss of over $18 million in H1 2023, records show. Argo Blockchain, a leading crypto mining company (LSE: ARB; NASDAQ: ARBK), has released its performance
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase shares soar 15% as U.S. federal court ruling favors Grayscale’s Bitcoin ETF, signaling a transformative moment for the crypto industry. Coinbase Global Inc. shares saw a massive spike following Grayscale’s victory over the SEC, paving the
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Mr. President, leveraging the potential of bitcoin mining to accelerate the transition to a renewable-powered, efficient, and interconnected energy grid presents a remarkable opportunity for our nation's energy future. By providing incentives that encourage miners to use renewable energy sources and invest in sustainable practices, we can create a win-win
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