Press Releases TheBitTimes.com

Marathon announced a 467% increase in Bitcoin production year-on-year in the third quarter, while hashrate rose over 400% in the same timeframe. Bitcoin mining firm Marathon Digital Holdings saw its revenue surge $670% year-on-year in the third quarter of 2023, amid a nearly five-fold increase in Bitcoin production . The results saw Marathon also swing to a quarterly profit, with $64.1 million of net income in the third quarter, according to the firm’s Nov. 8 results filing. The firm partly attributed the improved financial results to a 467% spike in Bitcoin (BTC) production from 6.7 mined BTC in Q3 2022 to 37.9 BTC in Q3 2023. Similarly, Marathon’s energized hashrate boosted 403% over the same timeframe. Marathon’s Q3 Earnings Release is here: - Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices. - Adjusted EBITDA improves to $43.7M. - 8% increase in hash rate; expanding with hydro-powered ventures in Paraguay. - Long-term debt reduced by 56%,… ...

Bitcoin begins an "important" week for BTC price performance with $30,000 still intact at the weekly close. Bitcoin (BTC) starts a new week in a solid position above $30,000 after its latest rapid gains. BTC price action continues to deliver on bulls’ expectations after weeks of sideways trading offered little relief. Can it continue? That is the question on every trader’s mind this week — $30,000 held into the weekly close and beyond, but in a volatile crypto market, anything can and does happen. The macroeconomic climate is somewhat “standard” for the final week of June, offering some potential risk asset price catalysts but avoiding several major data releases at once. The weekend’s news out of Russia appears to have had little impact on market performance elsewhere, having mostly concluded before the start of the week’s trading. Turning to Bitcoin itself, a phase of taking stock appears to be here, with fundamentals conversely primed to shift down from all-time highs. S...

Data suggests that investors are better off buying spot Bitcoin then attempting to mine it, unless the market is in a mega bull run. While intuitively, mining Bitcoin may appear like a highly profitable endeavor, research suggests otherwise.  After discovering Bitcoin, most users go down the rabbit hole and consider whether it is better to mine or buy Bitcoin directly. They usually give up due to the cost and rigor of running ASIC miners, regulatory uncertainty, and the lack of technical expertise. Hypothetically, if one overcomes the above challenges, they could enjoy advantages such as full autonomy over their operations and diversification of their crypto investment via physical hardware instead of directly purchasing Bitcoin, but the entire venture can be risky and labor intensive. To mine, or not to mine BTC? Analysis by Bitcoin (BTC) mining data firm, Hashrate Index, suggested that “buying bitcoin is preferable to mining it in most circumstances.” Jaran Mellurad, a Bitcoin minin...

Explore the economics of cryptocurrency mining and the challenges and opportunities that exist in this rapidly evolving industry. Mining refers to the process of verifying and adding new transactions to a Blockchain network, such as in the case of Bitcoin (BTC) or other crypto currencies. The economics of Mining refers to the economic incentives and costs associated with the Mining process, as well as its impact on the broader economy. The economics of crypto mining are driven by a variety of factors, including cryptocurrency prices, mining difficulty, hardware costs, energy expenses, block rewards and transaction fees. This article will explain economics of mining, including costs, revenues and market trends. Cryptocurrency mining costs The costs associated with cryptocurrency mining can be broken down into several categories: Hardware costs: The price of specialized application-specific integrated circuits (ASICs), for example, can have a big impact on the profitability of mining....

Despite restructuring into a hosting firm for Bitcoin mining, Greenidge still owns about 10,000 miners, maintaining a capacity of 1.1 EH/s. Bitcoin (BTC) Mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge entered into several agreements associated with its secured debt with NYDIG, transferring ownership of Bitcoin mining hardware and certain credits to NYDIG. The transaction reduced the principal and accrued interest balance of debt with NYDIG from about $76 million to roughly $17 million, resulting in total aggregate debt reduction of around $59 million. One of the agreements, the senior secured loan agreement, also enables an opportunity for a voluntary prepayment of the loan by transferring ownership of certain mining infrastructure assets. Subject to a binding agreement by NYDIG, the loan agreement can potentially reduce the principal balance of the debt to app...

The mining company has faced financial problems due to escalating energy costs and the falling price of Bitcoin. Bitcoin mining firm Argo blockchain has suspend ed trading of its American depositary shares (ADS) on NASDAQ, according to a Dec. 27 press release. The company says that it needed to suspend trading because of an announcement that will come on Wednesday morning and because the London Stock Exchange is closed on Tuesday. Argo says that it expects shares to resume NASDAQ trading on Wednesday. At our request, @Nasdaq temporarily suspended trading of Argo’s ADSs and unsecured notes for today - Tues Dec 27. We’ll be making an announcement tomorrow (Dec 28) via RNS before the @LSEplc opens in the UK…we expect trading on Nasdaq to resume tomorrow.#ARB $ARBK #BTC — Argo (@ArgoBlockchain) December 27, 2022 The statement comes after the company has been plagued with financial problems and faced bankruptcy rumors due to rising energy costs and falling Bitcoin prices. On D...

Join us as we discuss the current state of the crypto market, particularly in terms of the current bear market and Bitcoin mining. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Drew Vosk. On this week’s episode of Market Talks, Cointelegraph welcomes Drew Vosk, founder of VoskCoin, a cryptocurrency YouTube channel with over 607,000 subscribers. This week, we take a deep dive into all things crypto from the unique perspective of a Bitcoin (BTC) miner. We get Vosk’s take on the things that are impacting his bottom line as a Bitcoin miner and what challenges he is currently facing by mining Bitcoin at home as opposed to with an industrial miner. Is it worth investing in a solar mining farm with electricity costs soaring at the moment? What is the ROI, and is it more cost-effective in the long run to harness the power of the sun? Vosk not only mines Bitcoin but also a host of other coins. We ask him what his mining strategy is...