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In the lawsuit filed on Sept. 7 in a Delaware court, Riot claims that Germany's Northern Data failed to disclose $84 million in liabilities to a third party, which the third party asked for in April of this year. At the time, Riot was trying to negotiate the final closing
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“Although challenging global market conditions in the second quarter, further impacted by a steep decline in the price of Bitcoin and resulting decline in market valuations for publicly-traded Bitcoin miners, including Riot, necessitated non-cash impairment charges this quarter, these non-cash charges had no impact on our solid financial position and
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Riot became one of the industry's biggest miners when it bought a gigantic facility in Rockdale, Texas, in May 2021. Bitcoin miners have seen their margins slashed as the price of the world's biggest cryptocurrency has dropped, while energy prices, a major part of miners' costs, have soared globally due
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American Bitcoin mining firm Riot Blockchain earned an estimated US$9.5 million in power credits in July as it reduced energy consumption and mined fewer Bitcoins.See related article: Bitcoin miners in Texas halt operations amid heat waveFast factsRiot produced 318 Bitcoins in July this year, about 28% less than July last
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Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility.In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating
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Several bitcoin miners temporarily halted mining operations as energy demand soared in July due to heat waves that swept through the U.S., particularly in Texas. Riot curtailed 11,717 megawatt hours in July, enough to power 13,121 average homes for a month, Les said, adding that it lowered power costs for
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Crypto mining firm Riot Blockchain said it has begun relocating rigs from its New York data facility, with the majority intended to end up in central Texas.In a Wednesday announcement, Riot said it has transitioned some of its mining rigs from a Massena, New York facility — named Coinmint —
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Riot, however, decreased its hashrate expectations for the year to 12.5 exahash per second (EH/s). The downgrade follows June's reduced forecast, when it said it expected 12.6 EH/s by January 2023, below May's prediction of 12.8 EH/s. The miner produced 421 bitcoins in June, compared with 466 BTC in May,
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Bit Digital has moved to recover its hashrate in the second quarter of the year. On June 7, it signed a colocation agreement with Coinmint, leasing hashrate for at least one year. Under the deal, Bit Digital will pay for operating costs, including electricity and a fee of 27.5% of
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John Caldwell, a founder of Unicorn, said the group was “surprised” by how little attention and support this protest action has received. Texas, a U.S. state known for supporting the ideals of autonomy, personal freedom and limited state intervention, has been at the forefront of the conservative-led charge to roll
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