Mining News

Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia

Coins Legend February 27, 2023 0

The bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin

Bitcoin Mining News

Bitcoin Mining Difficulty Reaches All-Time High as Miners Face Second-Largest Increase This Year

Coins Legend February 25, 2023 0

Bitcoin’s mining difficulty reached an all-time high (ATH) on Feb. 24, 2023, at block height #778,176, reaching 43.05 trillion hashes and surpassing the 40 trillion mark for the first time ever. The network’s difficulty increased by 9.95%, which is the second-largest rise this year, as Bitcoin recorded a combined 24.89% increase during the last 60 […]

Mining News

Former Cohasset High School Employee Accused of Stealing Thousands in Electricity to Mine Bitcoin in School Campus Crawlspace

Coins Legend February 23, 2023 0

A former school assistant facilities director in Cohasset, Massachusetts, has been accused of operating a cryptocurrency mining operation inside a crawlspace at Cohasset High School. The Cohasset Police Department alleges that Nadeam Nahas stole nearly $18,000 in electricity to power the crypto mining scheme. Former Cohasset School Employee Faces Charges for Electricity

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Paraguay to Become Top Bitcoin Mining Hub in Latam According to Insight Group

Coins Legend February 22, 2023 0

Paraguay, one of the smallest countries in Latam, has the conditions needed to become the next Bitcoin mining hub in the region, according to mining insight group Hashrate Index. The company notes there are many elements in favor of Paraguay, including the abundance of clean hydroelectric power sources. However, the stance that the government has […]

Mining News

Cleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain Rigs

Coins Legend February 17, 2023 0

Bitcoin mining operation Cleanspark has acquired 20,000 brand-new Bitmain mining rigs for $43.6 million, the company reported. Once installed, Cleanspark expects to increase its capacity by 37% by adding roughly 2.44 exahash per second (EH/s) to the firm’s fleet. Cleanspark CEO Says Proprietary Mining Model Gives Company Greater Control and Efficiency Cleanspark, the

Bitcoin News

Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bitcoin Mining Rigs

Coins Legend February 13, 2023 0

Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion Bitcoin mining company, Iris Energy, announced plans to […]

News

Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons

Coins Legend February 11, 2023 0

Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility to the debtors’ mining business.” Celsius Interim CEO Outlines […]

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Bitcoin’s Mining Difficulty Change Prints 2022’s Second Largest Increase — Metric Nears All-Time High

Coins Legend August 31, 2022 0

On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin (BTC) has experienced […]

Mining

Bitcoin’s Mining Difficulty Slides 5% Dropping to Levels Not Seen Since March

Coins Legend July 22, 2022 0

On July 21, 2022, at 2:14 p.m. (ET) at block height 745,920, Bitcoin’s mining difficulty dropped by 5.01% outpacing the last two epoch changes. The latest downward shift makes it 5% easier to find blocks than it was during the past two weeks, and roughly 8.77% easier since June 22. It’s Now 11.39% Easier to […]

Mining

Sweden Needs Power for More Useful Things Than Bitcoin Mining, Energy Minister Says

Coins Legend July 18, 2022 0

Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed. Crypto Miners […]