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Bitmain, a crypto mining rig manufacturer, is investing $53.9 million in Texas-based Bitcoin mining company Core Scientific as part of an ongoing supply contract. The deal comprises cash and equity for acquiring 27,000 Bitcoin mining servers. Bitmain will supply Core Scientific with these servers. Core Scientific will pay $23.1 million in cash and issue $53.9 million worth of its common stock to Bitmain in exchange. Core Scientific, which filed for Chapter 11 bankruptcy in December 2022, anticipates a court to establish its share price during its financial restructuring. The company anticipates approval of the plan in the last quarter of the year. Bitmain has also inked a new hosting agreement with Core Scientific. Bitmain’s CEO, Max Hua, commended Core Scientific for their professionalism, integrity, and dedication to the success of their hosting customers and the growth of the Bitcoin Network. You might also like: US Senator says Bitcoin mining could boost energy gri...

Texas Senator Ted Cruz has voiced support for Bitcoin (BTC) mining operations in the U.S., emphasizing its potential to enhance the resiliency of energy grids during times of crisis. Cruz, a Republican, expressed his bullish stance to Fox News Radio. Texas is a hub for jobs, innovation, and freedom—making it the natural oasis for Bitcoin mining. These operations can improve our grid resiliency since they can shut off during inclement weather and free up electricity to heat or cool homes. pic.twitter.com/rpU5i3v03G — Senator Ted Cruz (@SenTedCruz) September 7, 2023 Cruz lauded the beneficial influence of Bitcoin mining on the energy industry, specifically focusing on its positive impact in the Lone Star State. But the former GOP presidential candidate’s endorsement comes at a critical time for Texas, which recently experienced its second-hottest summer on record. Texas subsequently suffered an energy crisis, exacerbated by the sector’s high electricity consumption. Rio...

Blockware Solutions account executive David Gamble told Market Talks host Ray Salmond that the crypto market will hit a $10 trillion market cap in the next few years. On the latest episode of Market Talks , host Ray Salmond spoke with Blockware Solutions account executive David Gamble about the future of Bitcoin (BTC) mining, expectations for the cryptocurrency’s price , and his views on how the decentralized finance (DeFi) sector needs to evolve.  Gamble described himself as a staunch believer in DeFi, but he added that protocols within the industry need to find ways to incorporate tokenized real-world assets instead of relying on mercenary capital and the attraction of liquid staking. According to Gamble, the steady entry of institutional investors and even central bankers experimenting with tokenized bonds and other yield-bearing assets could be a step in the right direction. The best time to buy Bitcoin is now Bitcoin’s block reward halving is less than 300 days away, and many i...

Bitcoin begins to fulfil traders' downside targets as BTC price action retraces its steps in a crucial macro week. Bitcoin (BTC) enters the last full week of July on an uncertain footing as $30,000 becomes resistance. In what promises to be an exciting — but perhaps nerve-racking — week for traders, BTC price action is staring down a combination of volatility triggers. Chief among these is the United States Federal Reserve’s decision on interest rates, this headlining an important slew of macro data releases. Some hope that these alone will be enough to shake Bitcoin out of its month-long trading range, in which it has barely moved from the $30,000 mark. The market has so far offered little by way of cues as to where it might head next. That said, traders have become impatient, and increasingly believe that BTC/USD will ultimately break down from current levels to head toward $25,000 or even lower. Cointelegaph takes a look at the main factors in the debate over BTC price performa...

Join Our Telegram channel to stay up to date on breaking news coverage According to the most recent data, mining bitcoin has never been more difficult. After registering a remarkable spike of over 10% on January 15, the network’s mining difficulty reached a new all-time high of 37.59 trillion hashes, the largest jump since last November—the only time in 2022 when mining difficulty grew by a double-digit percentage. In addition to having a high mining difficulty, data from CoinWarz reveals that despite briefly falling after Terra’s collapse in May 2021, Bitcoin’s hash rate, which is best described as the network’s processing capacity, has been gradually increasing over the last three years. Bitcoin’s hash rate peaked on January 6, 2023, at 361.20 EH/s (ExaHashes per second). When combined, hash rate and mining difficulty show a robust and expanding network. Nevertheless, there have been a lot of recent indications that the mining industry...

Some BTC miners have declared bankruptcy or sought financial aid to stay afloat. Others are finding unique ways to grow amid the bear market. Bitcoin (BTC) miner CleanSpark is expanding operations in the state of Georgia, adding to its mining capacity despite the ongoing bear market.  Groundbreaking on a new 50-megawatt Bitcoin Mining facility in Washington, Georgia, is underway, with expected completion in late spring, CleanSpark disclosed on Jan. 19. The nearly $16 million expansion is expected to increase the company’s hashrate by 2.2 exahashes per second, with total hashrate reaching as high as 8.7 EH/s. The expanded facility will host up to 16,000 miners, including newly added Antminer S19j Pro and Antminer S19 XP models. Expansion alert: $CLSK has broken ground on phase 2 of our #WashingtonGA # Bitcoin Mining site! It will hold up to 16,000 miner s. With projected completion of the 50 MW in late spring, we expect our #hashrate to reach as high as 8.7 EH/s. More: https://t.co/q...

Microsoft now requires users to obtain a written pre-approval from the firm in order to use Microsoft Azure for mining cryptocurrencies like Bitcoin. Cloud computing giant Microsoft is taking measures to increase stability of its cloud services by forcing new restrictions for activities like cryptocurrency mining. Microsoft has quietly banned crypto mining from its online services in order to better protect its customers and clouds, British technology news agency The Register reported on Dec. 15. The company introduced the new restrictions as part of its universal license terms of Microsoft Online Services. Microsoft updated its acceptable use policy on Dec. 1 to clarify that “mining cryptocurrency is prohibited without prior Microsoft approval.” In the “Acceptable Use Policy” section, Microsoft said that it now requires users to obtain a written pre-approval from the company in order to use any of Microsoft Online Services for crypto mining. Microsoft reportedly said that its latest ...