Cipher Mining Company Buys 37K Bitmain Antminers for $99.5M
Publicly-traded Bitcoin mining company Cipher Mining (CIFR) has recently acquired 37,000 Bitcoin mining devices, expected to deliver 7.1 EH/s of self-mining capacity by the first half of 2025. On December 18, the Chinese cryptocurrency mining behemoth Bitmain announced a new agreement with Cipher to purchase 37,396 Antminer T21 miners. According to the announcement, the expected […]
Jack Dorsey Invests in Ocean to Support Decentralized Bitcoin Mining
Jack Dorsey, Bitcoin advocate and co-founder of Twitter (now X) supports Ocean, a new Bitcoin mining pool that will assist miners in regaining control over transaction fees and block rewards by leading a $6.2 million funding round. An announcement on November 29 stated that Dorsey led a $6.2 million seed round for Mummolin, the parent […]
Bitfarms Boosts Bitcoin Mining Operations with $44 Million
In order to bolster its working cash and develop its infrastructure for mining Bitcoin, Bitfarms has announced a $44 million private placement with American investors. In an effort to raise about $44 million ($60 million CAD), Canadian Bitcoin mining business Bitfarms Ltd. has entered into a private placement agreement with institutional investors in the United […]
Bitcoin Mining Reward Hits Annual All-time High of $44M
On November 12, the Bitcoin mining community achieved its annual all-time high (ATH) by amassing transaction fees and block rewards exceeding $44 million in a day. Bitcoin mining generates most of its revenue from rewards for authenticating Bitcoin transactions and generating new blocks utilizing mining rigs, which are sophisticated computing devices. In addition to transaction fees, […]
Luxor Debunks Ponzi Scheme Doubts about Its Hash Rate Product
The Bitcoin mining firm has clarified the details of its hash rate-backed product, which offers 10% to 13% returns to investors. The company said the product is based on proof-of-work and economic production, not a Ponzi scheme. Luxor Technology has addressed recent reports that questioned the legitimacy of its hash rate-backed product, which promises 10% […]