The first risk, said Jefferies, is Marathon’s expectation of 3.2 EH/s to be plugged into a Compute North facility in Texas. In addition to regulatory delays, there’s the issue of Compute N...
Tag: Miner
Miner Marathon Digital Q3 results miss estimates across the board
Bitcoin miner Marathon Digital posted a net loss of $75 million in the third quarter, more than three times the average analyst estimate for a loss of $18.7 million. Shares were down just under ...
2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million – Mining Bitcoin News
Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loan...
Bitcoin miner Iris Energy faces $103M default claim from creditors
According to a new filing with the U.S. Securities and Exchange Commission on Monday, Bitcoin (BTC) miner Iris Energy says it has received a default notice from mining rig manufacturer Bitmain Technol...
Bitcoin Miner Iris Energy Faces Default Claim on $103M of Equipment Loans
The reason for the notice of default, which the lender sent to the miner on Nov. 4, is the company failed to engage in “good faith restructuring discussions” for the debt in question, acco...
Could Bitcoin miner sell pressure indicate further upside potential?
Bitcoin miners have been selling BTC holdings at a rate not seen since early 2021. Further, the persistence of the negative net position change has not occurred since 2017. Miners consistently sold Bi...
Third Time’s a Charm? Bitcoin Miner Bitdeer Delays $4B SPAC Deal Again
Blue Safari Group, the SPAC firm taking crypto miner Bitdeer public at a $4 billion valuation, has just filed for another extension—the third in less than six months, and this time for up to a year in...
Bitcoin Miner Iris Energy Says Bad Debt Contained in ‘Rotten Arms’
Bitcoin miner Iris Energy remains defiant despite facing debt default on $103 million in loans next week. In a recent SEC filing, the Australia-based firm said that while it can generate $2 million in...
Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October
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Bitcoin Miner Iris Energy On Verge of $103 Million Loan Default
Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year. This time it’s Iris Energy – a sustainability-focused miner that recently revea...
Crypto Miner Bitdeer May Extend IPO Deadline by 1 Year
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An American Bitcoin Miner Acquired 3,843 Mining Machines
Amid bearish market conditions, America’s Bitcoin Miner announced its acquisition of 3,843 units of bitcoin mining machine. The total machines purchased since June now exceeds 26,500. BTC Miner, Clean...
This Bitcoin miner acquired thousands of machines amid ongoing crypto winter
Bitcoin mining company CleanSpark has acquired 3,843 cryptocurrency miners for consolidating its position in the market. CleanSpark purchased the Antminer S19J Pro Bitcoin miners for $5.9 million at a...
Bitcoin Hashrate Record All-Time High Giant Oil Companies Become Leading BTC Miner
Bitcoin hashrate has reached an all-time high since 2022. The increasing hash rate of bitcoin is troubling miners and mining companies. On the other hand, the surging hash rate is helping electricity ...
Bitcoin Miner Iris Energy Says Some Machines Aren’t Covering Financing Costs
The company has three special-purpose vehicles specifically for financing the purchase of mining equipment. Together the three have $104 million of debt outstanding. That’s secured against 3.8 e...
BTC miner CleanSpark scoops up thousands of miners amid ‘distressed markets’
Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation. The $5.9 million purchase of the Ant...
Publicly-Listed Bitcoin Miner Argo Blockchain’s Stock Gets Downgraded, Firm Offloads Close to 4,000 Bitmain Miners – Mining Bitcoin News
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October upd...
Bitcoin Miner Stronghold Digital Completes Debt Restructuring
“We are executing on the strategy we outlined during our second-quarter earnings announcement in August – to rapidly delever our balance sheet and enhance liquidity, and we are actively pursuing...
Bitcoin Miner Selling Power At Lowest For 2022, Green Sign For Market?
On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Rec...
Crypto Miner Consolidation Imminent as Some Industry Players Struggle
As more miners report dire financial pressures tied to low crypto prices, high energy costs and debt, a pickup in consolidation is inevitable, industry watchers said. After Core Scientific revealed i...
Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers: Report
Core Scientific’s woes reflect the depressed state of the bitcoin mining industry, with firms facing the squeeze of a bitcoin bear market and higher energy costs. Most recently, bitcoin miner Ar...
Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million – Mining Bitcoin News
On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin...
Bitcoin Miner Argo Blockchain Loses More Wall Street Bulls After Financial Woes
“If indeed it can secure the financing to negotiate a power purchase agreement [PPA], we believe Argo’s flagship Helios facility could be better monetized,” Canaccord analyst Joseph ...
Bitcoin miner Argo fails to raise $27M in funding
London-based Bitcoin mining group Argo Blockchain’s plan to raise $27 million from a strategic investor has failed to take place. The London Stock Exchange today published a press release notifying th...
Bitcoin miner Core Scientific’s shares continue to fall post bankruptcy-warning announcement
Core Scientific is the second bitcoin mining firm faced with bankruptcy. Stagnant BTC prices may fall further during and post midterms. Rising energy rates and hash rates hurting miners’ profits. Anot...
Bitcoin Risks Major Selloff as Miner Woes Continue
Key Takeaways Bitcoin mining company Argo Blockchain announced today it may have to wind down its operations.. Core Scientific, a rival operation, declared last week it could face bankruptcy. If adver...
Bitcoin miner Argo in trouble after failed strategic investment leaves it cashless
Argo Blockchain, one of the largest public Bitcoin mining companies on the market, is facing a cash shortage that could force it to shut down in the near future. According to an October 31 press relea...
Classic Sign of Bottom: Miner Defaults – Trustnodes
No one can predict the future, but we can all be reasonably sure the laws of physics will still apply. The news of a default by one of the biggest bitcoin miner, Core Scientific, worth $4.4 billion la...
Bitcoin: Out of sight, out of mine could be the BTC miner motto for Q4 because…
Over the last few months, many miners have faced massive challenges to keep up profits and continue to mine Bitcoin [BTC]. With the growing hashrate and soaring energy prices, miners continue to face ...
Will A Bankruptcy Of Bitcoin Miner CORZ Impact The Price?
The largest publicly traded Bitcoin miner in the U.S. by hash rate and mining fleet, Core Scientific (CORZ), issued a bankruptcy warning in a filing with the SEC on Oct. 26. Shortly thereafter, the st...