Northern Data Secures $610M Debt Financing from Tether
Tether increases its wager on Bitcoin mining by providing debt financing worth $610 million to the German Bitcoin mining company Northern Data AG. According to an announcement dated November 2, Northern Data AG has secured a 575-million-euro ($610-million) debt financing facility from Tether to drive further investments across its enterprises. The debt capital will enable […]
Pennsylvania Scraps Crypto Mining Ban After Union Pressure
Pennsylvania lawmakers have decided to drop a proposed two-year ban on crypto mining from a bill that aims to regulate the energy consumption of the industry. The move came after intense pressure from trade labor unions and concerns about the impact on Democratic Party support. The Cryptocurrency Energy Conservation Act, which was introduced in June, […]
Hut 8 Merger Boosts Self-mined BTC Reserves to 9.4K
The Canadian Bitcoin mining company Hut 8 accumulates self-mined BTC despite the ongoing merger agreement with US Bitcoin (USBTC), bringing its reserves to 9,366. Hut 8 announced on October 10 that it mined 111 Bitcoin in September 2023, bringing its self-mined BTC reserves to 9,366. Hut 8 mined approximately 147 BTC in May 2023. Since […]
Bitcoin Mining Can Reportedly Reduce Global Emissions to 8%
According to a document published by the Institute of Risk Management (IRM), Bitcoin can facilitate a global energy transition by converting wasted methane emissions into less harmful, reducing global emissions by up to 8% by 2030. Dylan Campbell and Alexander Larsen of the IRM Energy and Renewables Group published a report titled “Bitcoin and the […]
Core Scientific Partners with Bitmain in $77M Deal
Bitmain, a manufacturer of cryptocurrency mining hardware, and Core Scientific, a defunct cryptocurrency mining company, have committed to a combination of equity and cash to finalize the expansion of mining facilities. Bitmain will provide 27,000 Bitcoin mining machines in exchange for $23 million in cash and $53.9 million in common stock of the insolvent firm, […]