Russian government to launch crypto mining facility in East Siberia
The new crypto-mining facility in East Siberia will possess 30,000 crypto-mining machines, hire 100 workers, consume 100 megawatts of electricity and be operated by Russia’s BitRiver mining company. In recent months, there have been moratoria placed on the cryptocurrency mining sector in several regions of the US and Canada. Russia now offers tax breaks to […]
BlockFi gets approval to launch auction for Crypto mining company
BlockFi Inc. was granted permission by the bankruptcy court to hold an auction for the cryptocurrency lender’s mining operation. During a Monday morning video court hearing, BlockFi attorney Francis Petrie stated that the company intends to submit bids as soon as possible to benefit from the current market circumstances. Petrie informed US Bankruptcy Judge Michael […]
Argo Blockchain faces class action lawsuit for misleading investors
Argo Blockchain investors have filed a class action lawsuit, claiming that the miner misled investors and omitted important details during its 2021 initial public offering (IPO). On January 26, a brand-new complaint was launched against Argo and a number of its executives and board members. It asserts that the company concealed its vulnerability to cash […]
Compass Mining wins lawsuit against Dynamics Mining
Compass Mining, a manufacturer of bitcoin mining equipment, has prevailed in a legal dispute with hosting company Dynamics Mining and received around $1.5 million in the suit. Compass’ hosting relationship was canceled by Kentucky-based Dynamics in June when it was revealed that Compass had not paid the hosting and power fees associated with a facility […]
BTC.com loses $3M in cyber hack
BTC.com, a cryptocurrency mining pool, was the victim of a recent $3 million hack that caused a considerable loss of corporate and client assets. Attackers stole over $2.3 million in corporate assets in addition to about $700,000 in client assets on December 3. The formal statement was issued on December 26 by BIT Mining Limited, […]