In an announcement on Monday, Riot Blockchain reported that it produced 187 Bitcoin (BTC) — roughly $11.2 million — last month, an 80% increase over its BTC mining in March 2020. The company said it held more than 1,565 Bitcoin on its balance sheet as of March 31, representing more than $94 million in crypto. The mining report follows Riot's $138 million purchase of 42,000 S19j Antminers from crypto mining giant Bitmain. Roughly 6% of the rigs — 2,400 Antminers — are reportedly already on route to Coinmint’s facility in New York, where Riot runs a portion of its mining …

North America-based crypto mining company Blockcap announced over the weekend it would be establishing new offices in Austin, Texas. In an announcement from Blockcap on Friday, the mining company claimed once its new facilities are operational in the Lone Star State’s capital, its hashing power will be roughly 3.5 exahash per second from a total of 42,000 rigs, reportedly doubling its capabilities. According to blockchain data, this would represent more than 2% of the hashrate for the entire Bitcoin (BTC) network, roughly 167 million terahash per second at the time of publication. However, Blockcap claims its total fleet will account …

The debate around the environmental impact of the Bitcoin mining ecosystem is heating up once again as academics have provided a fresh dose of perspective on the subject. In an opinion piece written by Noah Smith, a former assistant finance professor turned columnist, took aim at the Bitcoin (BTC) mining industry in March, suggesting that the constantly growing energy consumption of the network is simply unsustainable. Smith’s belief is that more countries will clamp down on Bitcoin mining as they use more power, given that the increasing price of BTC is always matched by rising hash rates. While Coin Metrics …

The share price of Chinese Bitcoin mining company Ebang continues to fall, while the firm refutes claims made in a Hindenburg Research report that alleged it was pilfering American investors’ cash. The Hindenburg Research report, published on Tuesday, described Ebang as “simply the latest chapter in the ‘China Hustle’ disguised as a Bitcoin mining play.” The report alleges that Ebang raised hundreds of millions of dollars through public offerings in the United States under the guise of operating as a Bitcoin (BTC) mining company. The money raised in the funding rounds was reportedly funneled out of the company in “a …

Blockchain security company Beosin has been the focus of a major scandal after its chief marketing officer, Gao Ziyang, was taken into custody and charged with embezzlement of state-owned assets. He is alleged to have been using government funds to unsuccessfully short Bitcoin (BTC), resulting in a massive liquidation of over 300 million renminbi, or $45 million. Beosin, also known as Lianan Tech, had a working relationship with Chinese authorities and was helping them investigate fraudulent fundraising schemes. After the seizure of funds back in 2020, Beosin was tasked with storing and selling the assets, to be later returned to …

Riot Blockchain is continuing its Bitcoin (BTC) mining expansion efforts. Reports suggest that the United States-based miner is set to purchase Whinstone US Inc, currently owned by Northern Data. The planned purchase was announced by Riot Blockchain on Thursday via a press release, with the U.S. Bitcoin miner paying $80 million in cash. The remainder will come from the sale of about 12% of its stock to Northern Data. Whinstone reportedly operates the single largest Bitcoin mining facility in the United States. Based in Texas, Whinstone’s data center reportedly has a total capacity of 750 megawatts, with an additional 300 …

Bitcoin (BTC) miners are stashing away their coins for higher prices, with direct transfers from miners to exchanges having plummeted nearly 40% since mid-March. Data from on-chain analytics provider Glassnode shows that miners’ BTC balances have been increasing since late March, following heavy outflows throughout January and consistently reduced selling during February and earlier in March. Glassnode chief technology officer Rafael Schultze-Kraft noted several metrics pointing to recent miner accumulation — including flows from miner addresses, unspent BTC supply and miner position net change. Glassnode’s data shows that unspent supply — BTC that has never been transferred from the (miner’s) …

Riot Blockchain, a cryptocurrency mining company, has expanded its fleet and mining capacity with a new purchase order for 42,000 S19j Antminers from Bitmain. Megan Brooks, Riot’s COO, said the latest purchase order positions her company and the United States at the center of the Bitcoin mining industry: “By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the company’s and the United States’ share of the global network hash rate. We are proud of this accomplishment and remain focused on continuing to evaluate additional opportunities in the space.” The purchase order, …

United Kingdom-based Bitcoin (BTC) mining firm Argo Blockchain just recorded the best quarter in its history, generating record revenues for three months straight. Yet despite the burgeoning cryptocurrency mining venture emerging in the west, the vast majority of Bitcoin production still takes place in China, where cheap, coal-powered electricity fuels an untold number of mining rigs. A recent report by Nature.com revealed that as much as 75% of Bitcoin mining takes place in China — news which must fall hard on the ears of Shark Tank and Dragon’s Den investor Kevin O’Leary, who recently labeled all Bitcoin mined with the …

One telltale sign of a growing altcoin season is when obscure and lesser-known projects start putting on face-melting gains as traders scramble to jump on the rising price. New Kind of Network (NKN) has emerged over the past month as one of these surprise gainers, increasing 1,400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6. NKN is a peer-to-peer network connectivity protocol and ecosystem that uses economic incentives to “motivate internet users to share network connections and utilize unused bandwidth.” Since its launch in January 2018, the project has steadily …

Shares of Marathon Digital Holdings (MARA) surged on Monday after the cryptocurrency miner announced a significant increase in mining capacity in the first quarter, allowing it to up its stake in Bitcoin (BTC) by a considerable margin. MARA stock jumped 15.8% to close at $56.56, marking a new all-time high. The crypto mining stock rose by as much as 17.1% earlier in the day. By comparison, the technology-focused Nasdaq Composite Index rose 1.7% on Monday. Meanwhile, the Bitwise 10 Crypto Index Fund advanced 1.9%. At current values, Marathon Digital has a total market capitalization of $5.6 billion, putting it among …

Ebang, a publicly listed company providing mining hardware for cryptocurrencies like Bitcoin (BTC), has officially announced the launch of its own crypto exchange. According to an announcement on Monday, qualified investors will be soon able to register and trade on Ebang’s cryptocurrency exchange dubbed Ebonex. Ebang CEO and chairman Dong Hu said: “In recent years, we have made a considerable investment in R&D talent recruiting, as well as product innovation and iteration. The launch of our cryptocurrency exchange business will not only expand the revenue sources from our cryptocurrency business but also optimize the development of our blockchain industry chain.” …