As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing bear market. Bitcoin mining revenue fell 79.6% over a period of 9 months, ever since reaching an all-time high of $74.4 million on October 25, 2021. In addition, a global chip shortage and the coronavirus pandemic shot up prices of the most important part of a …

Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts. The firm announced its decision to downscale its workforce in a bid to weather difficult market conditions, just a week after the resignation of CEO Whit Gibbs and chief finance officer Jodie Fisher. Chief technology officer Paul Gosker and chief mining officer Thomas Heller have taken over the reins at the firm as interim co-presidents and CEOs. The duo penned a letter to staff, investors and the wider community outlining the company’s road ahead. While …

Bitcoin (BTC) mining company Marathon Digital Holdings experienced a steep 43.8% decline in Bitcoin production over the second quarter of 2022, with June registering as the company’s least productive month in over a year following the fall of its Montana facility. In its latest mining operation update released on Thursday, Marathon reported that it produced 707.1 Bitcoin in Q2 2022, down 43.8% from 1258.6 Bitcoin mined in Q1 2022. The company’s Bitcoin production took a particular hit in June after Marathon’s Hardin, Montana facility was hit by a massive storm on June 11, which knocked out the power station that …

Crypto companies are going belly up left and right, and Bitcoin mining companies also appear to be taking on water faster than they can bail. In mid-June, Compass Mining CEO Whit Gibbs and chief financial officer Jodie Fisher abruptly resigned after allegations that the Bitcoin mining hardware and hosting company had failed to pay hundreds of thousands of dollars in overdue electricity bills to Dynamics Mining, a facility provider for Compass. Bloomberg recently reported that many industrial-size Bitcoin miners took on a significant amount of debt by leveraging their equipment and BTC as collateral for loans to either acquire additional …

Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific and Riot Blockchain in selling part of its Bitcoin holdings. In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to reduce its debt to Galaxy Digital, from which Argo secured separate $20 million and $25 million BTC-backed loan agreements in 2021. The mining company reported that as of June 30, it had an outstanding balance of $22 million on the loan and holds “sufficient liquidity to avoid …

A major aggregator of decentralized exchanges has launched an intuitive new feature that allows traders to find out which tokens are trending right now — and the cryptocurrencies that could be next. KyberSwap's Discover feature harnesses their own TrueSight technology and brings together on-chain data, trading volumes and price trendlines to help investors stay ahead of the game — including intelligence from CoinMarketCap and CoinGecko. The platform says it's the first DEX to deliver a "Trending Soon" feature, KyberSwap gives crypto enthusiasts crucial signals about the altcoins that are gaining momentum. Discover is the latest feature to be added to …

United States-based cryptocurrency mining firm Core Scientific sold more than 7,000 Bitcoin (BTC) in June to pay for servers, increase its data capacity and settle debts. In a Tuesday announcement, Core Scientific said it had sold roughly $167 million worth of Bitcoin in June at an average price of $23,000 — 7,202 BTC. The sale left the firm with 1,959 BTC — roughly 21% of its holdings — and $132 million in cash as of June 30, a more than 75% drop when compared with its reported 8,058 BTC holdings as of May 31. According to the firm, it used …

A crypto trading hub is preparing to celebrate five years of innovation at the cutting edge of DeFi — enabling investors to execute trades with low fees. Kyber Network has established a suite of products that traders, liquidity providers and developers rely on every day. Through KyberSwap, tokens can be swapped immediately at highly competitive rates — and all without compromising on user experience. Deep liquidity is crucial, and this is aggregated through a plethora of DEX protocols. Tools give developers the ability to innovate and build new applications that boast instantaneous exchanges of decentralized tokens, too. And to ensure …

Have you ever wondered what it would be like to have your very own token? One new platform is allowing crypto enthusiasts to find out. MintMe enables anyone to create distinctive tokens "in just a few clicks" — and it says knowledge about development isn't required. The project says these tokens can then be used for crowdfunding, or to raise money for charity. According to MintMe, its blockchain is a fork of Ethereum — and boasts a custom algorithm that allows anyone to mine its flagship coin "in an egalitarian way." Because the prospect of generating new digital assets is …

Kirill Pronin, head of the Russian Central Bank (CBR)’s department of financial technologies, acknowledged the possibility of crypto mining legalization under certain conditions. A public acknowledgment like this makes a rare case, as the CBR continues to lead the battle against the efforts to legalize crypto in the country. The executive expressed his views on mining at the Saint-Petersburg International Legal Forum on Wednesday, June 29. During the session, dedicated to cryptocurrencies, Pronin revealed that CBR doesn’t take the same kind of hardline position on mining as it does in the case of general crypto legalization: "Despite the fact that …

Bitcoin (BTC) mining company Marathon Digital Holdings has revealed that 75% of its mining capability has been out of commission since a severe storm hit Montana on June 11. Marathon finally issued a statement on its website on Tuesday explaining that the storm struck across the town of Hardin, Montana on June 11, damaging the power generating facility that supplies Marathon’s local mining operations. According to the company, “initial electrical tests have found that the majority of the Company’s miners were not materially damaged by the storm.” The company noted that 30,000 devices, or 75% of the company’s fleet, have …

White Rock Management, a cryptocurrency mining company based in Switzerland, said it will be expanding its operations to the United States, starting with Texas. In a Tuesday announcement, White Rock said it will be partnering with Natural Gas Onsite Neutralization, or NGON, a company that captures natural gas that would otherwise be burned and converts it to energy for use in the firm’s Bitcoin (BTC) mining operations. White Rock said it will be operating out of NGON’s facility in the Brazos Valley region, mining BTC using “environmentally responsible” methods. According to White Rock CEO Andy Long, the move into Texas …