After a shocking year for Bitcoin (BTC), public miners will focus on strengthening balance sheets and minimizing costs this year, according to industry analysts. Bitcoin mining cost minimization will likely lead public miners to either go private or merge with other companies in 2023, Hash Rate Index’s Bitcoin analysts Jaran Mellerud and Colin Harper predicted. … Read more
Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy. Since 2021, Iran’s Organization for Collection and Sale of State-Owned Property (OCSSOP) has seized mining equipment — both … Read more
Bankrupt cryptocurrency lender Celsius Network agreed to let Bitcoin (BTC) miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings. Core Scientific filed a revised proposed order on Jan. 3 which incorporated “revisions acceptable to Celsius” noting “all Celsius rigs will be powered down … Read more
The bitcoin mining difficulty had adjusted upward for the majority of 2022, recording its highest correction in the same year. However, 2023 kicked off with a downtrend as the mining difficulty has begun to drop. A sharp drop in this metric recorded in the early hours of Tuesday could be the start of a trend … Read more
Brazil’s newly elected president Luiz Inácio Lula da Silva has moved to sweep away the legacy of his predecessor Jair Bolsonaro by tightening gun controls and curbing gold mining in the Amazon rainforest. In the wake of his inauguration on Sunday, the leftwing president revoked a decree that made it easier to buy guns and … Read more
Breadcrumb Trail Links PMN Business A shortage of fuel for households because of the war in Ukraine has spawned a cottage industry of illegal digging. Author of the article: Bloomberg News Natalia Ojewska Publishing date: Nov 27, 2022 • 11 minutes ago • 3 minute read Join the conversation Makeshift pits have appeared across parts of … Read more
(Bloomberg) — Copper miners are boosting output at last after several years of anemic performance. But it may not be enough to meaningfully lift stockpiles from historically low levels, keeping supplies tight in a market critical to the energy transition. Most Read from Bloomberg The reason is a bottleneck in capacity at the world’s smelters, … Read more
New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25. The comments follow the new law signed by New York governor Kathy Hochul, banning … Read more
Breadcrumb Trail Links PMN Business The Democratic Republic of Congo wants a mining deal it signed with China more than a decade ago to be reworked, with a view to securing all the funding that was pledged for infrastructure projects and a share of windfall profits. Author of the article: Bloomberg News David Malingha Publishing … Read more
Ares Strategic Mining to offer $1M in debentures Source link