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BlockFi plans to sell $160M worth of BTC miner-backed loans

Crypto lender BlockFi — having filed for bankruptcy weeks after the collapse of FTX — is planning to sell around $160 million of Bitcoin (BTC) miner-backed loans, Bloomberg reported. The loans are collateralized by approximately 68,000 BTC mining machines, as per the report — which cited anonymous sources. Some loans have already defaulted and some...

TON validators to determine suspension of inactive miner wallets

Ton Blockchain (TON) validators will vote on suspending inactive miner wallets starting Feb.21, 2023, according to a company press release. There are currently 195 inactive addresses in the TON network, according to the press release. Each has a balance of at least one TON, adding up to a total of 1.08 billion TON — accounting for 21.3% of the total...

ASIC financing debt worsened Bitcoin miner’s liabilities in 2022: Report

Bitcoin miners faced difficulties paying off debt in 2022, particularly when they had high-interest equipment financing loans, according to a recent report by Hashrate Index.   The report stated. “We estimate that there is between $2-4 billion worth of ASIC financing debt on private and public miner balance sheets.” According to the analysis, 6...

Bitcoin mining council Q4 2022 briefing shows a drop in sustainable energy usage

The Bitcoin Mining Council (BMC) recently released its Q4 2022 briefing, showing a current sustainable energy mix of 58.9% – a half percent decrease from the previous quarter’s 59.4% figure. The BMC was formed in May 2021 in response to Tesla’s U-turn on accepting Bitcoin for payment over claims the network is powered mainly by coal. Tesla CEO Elon...

Research: A review of bitcoin mining company holdings in 2022

Glassnode data analyzed by CryptoSlate shows that Marathon, Hut8, and Riot built the top three largest Bitcoin (BTC) pools, while Bit Digital recorded a 134% growth in reserves in nine months. BTC miners in 2022 BTC miners entered the year 2022 with resources acquired through cheap debt in 2021. The majority of them invested these resources into growing...

Bitcoin mining emissions down 10% as Kazakhstan’s hash rate share decreases

Kazakhstan’s share in the global Bitcoin (BTC) hash rate decreased to 6.4% since the first quarter of 2022, which brought the carbon emissions of the whole network down 10%, according to ClimateTech Vice Chair Daniel Batten’s recent analysis. Batten said that the mainstream media failed to reveal this impact, which proves that the BTC network “keeps...

Bitcoin mining difficulty rose 10%, hits new ATH

Bitcoin (BTC) mining difficulty rose 10% to a new all-time high of 37.59 T from 34.09 T on Jan. 15 The difficulty increase is the largest seen since October 2022, according to Bitrawr data. Source: Glassnode The significant rise on Jan. 15 exceeded almost all of the network’s difficulty increases in 2022 — only surpassed in October 2022 when mining...

BTC hashrate hits ATH second time in 7 days, difficulty expected to grow 9%

Bitcoin (BTC) hashrate rose 20% to a new all-time high on Jan. 12 — the second time the hashrate increased to a new ATH in the last seven days. It has since retraced to 251.79 EH/s as of press time. Source: Glassnode Crypto investor Asher Hopp pointed out that Bitcoin’s hashrate rose to an all-time high despite bankrupt miner Core Scientific turning...

Celsius Mining to sell 2687 BTC mining rigs for $1.34M

Celsius Mining entered into a Jan. 7 sales agreement to sell 2,687  Bitcoin mining rigs for $1.34 million to Touzi Capital , according to a Jan. 11 court filing. The mining rigs are “MicroBT ASIC M30S” located in Houston, Texas, with a hashrate ranginf between 84TH/s to 92TH/s. Celsius Mining said it held discussions with several brokers and market...

Argo’s mining revenue dipped 28% in December due to winter storm

Debt-ridden Bitcoin (BTC) miner Argo Blockchain mined 147 BTC in December — 25.75% less than the 198 BTC it mined in November. Argo said that the fall in mined BTC was primarily due to the curtailment of operations in the Texas facility during the arctic blast. Argo’s CEO Peter Wall said: “While our mining results for December were lower than anticipated,...

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