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The right time to mine: what factors influence the profitability of bitcoin mining
The benefits of bitcoin mining are fickle and vary greatly over time. Sometimes it's profitable, sometimes it's unprofitable. What exactly are the factors that influence bitcoin mining? What causes the popularity of mining New BTC coins come into c ...
CleanSpark announced the purchase of 12,500 Antminer S19 XP ASICs
American mining company CleanSpark continues to expand its business - the firm has signed a $40.5 million contract to buy 12,500 Bitmain Antminer S19 XP units.</div The deal is quite lucrative for the mining company - CleanSpark is paying $23 per tera ...
Opponents Demand Abandonment of Digital Asset Excise Tax as U.S. Debt Ceiling Bill Takes Priority
The urgency of agreeing on the U.S. national debt ceiling bill has allowed opponents of the Digital Asset Excise Tax (DAME) to demand that the Joe Biden administration abandon its intention to collect the controversial tax. Pierre Rochard, vice president of the mining com ...
Senator Cynthia Lummis Doubts Proposed 30% Tax on Miners’ Income Will Pass
American Senator Cynthia Lummis, known for her cryptocurrency-friendly attitude, believes that the Biden administration's proposed 30% tax on miners' income is unlikely to pass. During the Bitcoin Miami 2023 conference, Cinthia Lummis emphasized her support for miners and c ...
Canaan Unveils Immersively Cooled Bitcoin Miner A1366I with High Power and Overclocking Capabilities
Mining equipment manufacturer Canaan introduced a new bitcoin miner A1366I. It is immersively cooled and designed to fit in special containers. The power of the new ASIC miner is 165 Tx/s, however, the efficiency is not too high - 30 Joules per terahash. Because of its ...
Tax Proposal Threatens US Bitcoin Miners as CEO Warns of Negative Consequences
Earlier this month, the administration of U.S. President Joe Biden proposed a 30% tax on miners' income. But according to Marathon Digital CEO Fred Thiel, such a tax would not work. According to Fred Thiel, introducing such draconian measures would simply force mining com ...
Bitcoin Network’s Hash Rate and Mining Difficulty on the Rise
The Bitcoin network's hash rate continues to grow, and with it, so does the difficulty of mining BTC. Whereas at the time of last recalculation the figure was down 1.45%, it is now up 3.22%, reaching 49.55 Tx. The recalculation of ...
HIVE Mining Company Aims to Double Production Capacity to 6 EH/s by Year-End
Mining company HIVE said it plans to reach 4 EH/s production capacity by the end of this year and then increase it to 6 EH/s. That's almost double the firm's current capacity. HIVE explained that the company plans to achieve this goal by using a new batch of next-generati ...
Marathon Digital and Zero Two to establish bitcoin mining farms in Abu Dhabi
Mining company Marathon Digital Holdings has partnered with digital asset infrastructure firm Zero Two to set up two mining farms in Abu Dhabi. According to a statement from Marathon Digital, there will initially be two bitcoin mining facilities, with a total capacity of ...
Kazakhstan Earns $7 Million in Taxes from Cryptocurrency Mining in 2022
The government of the Republic of Kazakhstan for 2022 received 3.07 billion tenge (about $7 million) in taxes from miners. The reason, according to local media, is the entry into force of amendments to the Tax Code. According to the republican government, taxes collected ...