Bitfarms Plans to Upgrade Mining Hardware With $240M
Bitcoin miner Bitfarms plans to upgrade its mining hardware with an expenditure of around $240 million to increase its hash rate after the 2024 Bitcoin halving. Performance and profitability are the main priorities of Bitfarms’ preparation efforts for the Bitcoin halving. In an interview, Jeffrey Lucas, the chief financial officer of Bitfarms, outlined the company’s […]
Canada-based Bitfarms Purchases Additional 51,908 ASICs
Bitfarms, a Bitcoin miner based in Canada, on March 11 acquired a total of 51,908 ASICs, including 28,000 Bitmain T21 ASIC miners, 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 hydro miners. President and CEO of Bitfarms, Geoff Morphy , stated that the organization had acquired additional miners “before expected hardware […]
CleanSpark Reportedly Set to Launch In-house Trading Unit
To maximize returns on its Bitcoin (BTC) holdings, CleanSpark Inc., a Bitcoin miner based in the United States, intends to establish an internal trading division by 2024. Bloomberg reported on January 2 that the firm’s CEO, Zachary Bradford, stated that the action would utilize the organization’s “substantial Bitcoin” balance. Bradford told Bloomberg, “We truly believe […]
Marathon Digital to Raise $750 Million for Bitcoin Mining Expansion
Marathon Digital has announced plans to raise $750 million through a hybrid equity offering. The company will use the proceeds to invest in new mining equipment and increase its operational capacity. The Bitcoin mining company has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a hybrid equity offering. The company […]
Core Scientific To Transfer $20M Worth Of Equipment
The bankruptcy judge for Core Scientific has accepted a $20M settlement between Priority Power Management and bitcoin miner Core Scientific. Judge David Jones approved the transfer of equipment worth about $20.8 million from Core Scientific to Priority Power in a filing made on March 20 in the Southern District of Texas’s US Bankruptcy Court. The […]