Hash price and energy costs make Q3 tough for Bitcoin miners
Bitcoin mining businesses in North America and Europe have not had a very good third quarter of 2022 due to rising energy costs. Energy concerns in North America and Europe and market conditions have led to another grim quarter for Bitcoin miners. Hashrate Index’s Q3 mining report cites various explanations behind the decreased hash price […]
Stronghold Digital Bolsters Balance Sheet by Cutting Costs
After ending the hosting deal for bitcoin mining rigs, Stronghold Digital won’t have to pay Northern Data up to $25 million in profit shares. In its latest attempt to fix its troubled balance sheet, Stronghold Digital Mining (SDIG) ended a hosting deal with miner Northern Data (NB2X: GER), which cost the miner money, and paid […]
Cardano founder says U.S. lawmakers disagree on bitcoin mining
The founder of Cardano claims that there have been proposals to outlaw Bitcoin mining if miners are unable to achieve carbon neutrality. Charles Hoskinson, the founder of Cardano, claims that there are some conflicts in Washington around bitcoin mining since many lawmakers consider Bitcoin to be wasteful. “Energy-producing states have an enormous excess of energy. […]
Greenidge Expects Q3 Losses of $20M-$22M Amid CEO Departure
Bitcoin miner Greenidge Generation Holdings’ (GREE) GAAP net loss for the third quarter is expected to be between $20 million and $22 million. CEO Jeffrey Kirt stepped down from his job on October 7. Bitcoin miner Greenidge Generation Holdings’ (GREE) GAAP net loss for the third quarter is expected to be between $20 million and […]
Iris Energy Signs $100M Equity Deal With B. Riley
B. Riley signed a deal with Core Scientific in July that was very similar to this one that they just signed with crypto mining giants Iris energy. Bitcoin miner Iris Energy (IREN) signed a deal to sell up to $100 million in equity to investment bank B. Riley over the next two years. This is […]