Cryptocurrency Mining | ForkLog

ForkLog 6 12.03.2024

Bernstein Predicts Miner Stocks to Outperform Bitcoin on Path to $150,000

Shares of mining companies remain the best proxy investments in Bitcoin as the cryptocurrency moves towards the $150,000 target. This view is shared by Bernstein analysts, as reported by The Block. In a note to clients, Gautam Chhugani and Mahika Sapra highlighted that historically, miner stocks have almost always outpaced Bitcoin in growth during bull […]

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ForkLog 24 12.03.2024

Bitfarms Acquires Over 51,000 Bitcoin Miners from Bitmain

The mining company Bitfarms has acquired 51,908 bitcoin mining rigs from the Chinese manufacturer Bitmain. #Bitfarms announces the purchase of an additional ~51,900 new miners. ? Press Release: https://t.co/PVXf8jODTy$BITF $BTC #BitcoinMining pic.twitter.com/gROQdl8jPx — Bitfarms (@Bitfarms_io) March 11, 2024 The firm exercised an option for 28,000 Antminer T21 units and additionally purchased 19,280 similar miners at […]

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ForkLog 24 10.03.2024

Bitcoin Miners Set Record Energy Consumption in February

In February, bitcoin miners consumed a record 19.6 GW of electricity, up from 12.1 GW in the same period the previous year, according to Bloomberg. The agency reports that the recovery in the price of the leading cryptocurrency prompted digital asset mining companies to spend over $1 billion on new equipment since February 2023. In […]

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ForkLog 40 06.03.2024

Bitcoin Mining Output Declines in February

In early March, mining companies reported their performance for the previous month. ForkLog compiled the key figures in one article. Marathon Digital Holdings In February, Marathon Digital Holdings produced 833 BTC — a 23% decrease from the previous month. Data: Marathon Digital Holdings. According to the press release, the hash rate increased by 9% to […]

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ForkLog 27 04.03.2024

Bitdeer Develops 4nm Chip for Bitcoin Mining

Founded by Jihan Wu, Bitdeer has successfully tested its proprietary Bitcoin mining chip, SEAL01, which will be used in its upcoming device, the Sealminer A1. Bitdeer has Tested Its 4nm Bitcoin Mining Chip SEAL01 Bitdeer has successfully designed a Bitcoin mining chip, the SEAL01. As a world-leading technology company for blockchain and high-performance computing, Bitdeer […]

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ForkLog 35 01.03.2024

BitFuFu Lists on Nasdaq via SPAC Merger

BitFuFu, a cloud mining service provider affiliated with Bitmain, has gone public through a reverse merger with the SPAC Arisz Acquisition Corp. We are excited to be @NasdaqExchange !https://t.co/dnsi7H4EdO — BitFuFu (@BitFuFuOfficial) March 1, 2024 According to a press release, the company’s revenues rose to $198.2 million in the first half of 2023. BitFuFu manages […]

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ForkLog 11 01.03.2024

Mining Stocks Plummet Despite Bitcoin Surge

The Valkyrie Bitcoin Miners ETF, which is based on publicly traded mining company stocks, has lost over 20% since February 27, despite Bitcoin’s rise above $64,000. Daily chart of Valkyrie Bitcoin Miners ETF (WGMI) on Nasdaq. Data: TradingView. Shares of two of the industry’s largest companies — Marathon Digital Holdings and Riot Platforms — fell […]

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ForkLog 23 29.02.2024

Russian University Websites Hacked for Cryptocurrency Mining

FSB officers have detained a local resident in Kurgan, suspected of hacking attacks on the websites of Russian state universities. This was reported by Kommersant, citing the agency’s press service. According to the investigation, the 42-year-old from Kurgan allegedly used malicious software to bypass the security systems of several educational institutions with the aim of […]

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ForkLog 19 29.02.2024

CoinShares: Bitcoin ETF Demand Surpasses Mining Output Threefold

The daily growth rate of digital gold reserves in spot bitcoin ETFs is 2800 BTC, while supply increases by only 900 BTC. These estimates were provided by CoinShares, as reported by The Block. The resulting demand shock has further reduced bitcoin balances on centralized exchanges. According to experts’ calculations, the decline from 2020 levels has […]

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ForkLog 28 27.02.2024

Hut 8 to Establish 63 MW Bitcoin Mining Facility in Texas

Mining company Hut 8 has announced the commencement of construction on a bitcoin mining facility in Culberson, Texas, with an anticipated hash rate of 3.6 EH/s. It’s a great day to build, esp. when it’s at a 40% savings over buying turnkey sites! Construction is underway at our newest site in Culberson County, TX: expected […]

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ForkLog 17 26.02.2024

Bitcoin Miner Thieves Apprehended After Chase in Irkutsk

Traffic police in Irkutsk have apprehended serial thieves of cryptocurrency mining equipment, according to the local Ministry of Internal Affairs. The latest report of stolen ASIC miners was filed on December 25, 2023, by the owner of a tire repair shop where the devices were stored. During the investigation, law enforcement identified the suspects as […]

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ForkLog 17 26.02.2024

Chip Shortage Poses Business Risk for Riot Platforms

The ongoing chip shortage and the need to increase hash rate could negatively impact the financial condition of Riot Platforms, according to the mining company’s annual report. Riot Platforms Reports Full Year 2023 Financial Results, Current Operational and Financial Highlights. $280.7 Million in Total Revenue, 6,626 Bitcoin Produced, and Record Hash Rate Capacity of 12.4 […]

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