Mining

Argo Blockchain Repays $35M Loan to Galaxy Digital Amid Crypto Bear Market

Monday. August 12 at 9:00 PM

1 min. read

Argo Blockchain has successfully repaid a $35 million loan borrowed from Galaxy Digital in 2022 to prevent bankruptcy during the crypto bear market. The repayment, as stated in an Aug. 12 filing, is a significant achievement for Argo, with CEO Thomas Chippas noting that it had no substantial impact on the company's hashrate. Argo narrowly avoided bankruptcy in 2022 by selling its Helios Bitcoin mining facility and refinancing its debt with the loan. The loan was secured by Argo's mining machines, and the company continued to expand its mining capabilities by deploying more machines. Argo's hashrate reached 2.7 EH/s by the end of 2023. Galaxy also announced plans to enhance the power capacity at its Helios data center, anticipating demand from AI and HPC projects. The article also discusses how crypto voters are influencing the upcoming 2024 election.

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Rising Bitcoin Mining Demand in Russia Amid Regulatory Changes

Tuesday. January 14 at 8:00 PM

Russia has experienced a surge in Bitcoin mining activity, with demand for mining equipment tripling compared to the previous year. This increase is attributed to the significant price rally of Bitcoin in 2024, leading to profitable opportunities for miners. Regulatory adjustments in Russia have provided clarity for miners, allowing for industry expansion while maintaining oversight. The government legalized crypto mining under specific guidelines, exempting crypto transactions from value-added tax but imposing a 15% tax on mined assets. Despite the growth, Russia has imposed a mining ban in energy-strapped regions until 2031 to balance energy consumption with economic priorities. The country's strategic shift towards Bitcoin, including using it for international transactions amid Western sanctions, reflects a changing economic policy. BlackRock's endorsement of Bitcoin exposure through its spot ETF further highlights the growing importance of digital currency. Overall, the crypto industry in Russia is evolving amidst regulatory changes and geopolitical considerations.

Mining

Exploring Free ION Cloud Mining Platforms for Passive Income

Tuesday. January 14 at 10:00 AM

Cloud mining has become a popular method in the cryptocurrency world for individuals to earn passive income, with ION being a notable digital asset known for its fast transactions. Free ION cloud mining platforms have made it easier for people to earn money without a large initial investment. These platforms operate by allowing users to rent computational power from remote data centers, eliminating the need for expensive hardware and technical knowledge. While free plans may offer lower earnings compared to paid options, they provide a risk-free way to start earning. The process typically involves signing up, receiving a limited amount of computational power, and earning rewards based on the allocated power. With features like instant mining, real Bitcoin rewards, high-efficiency algorithms, daily payouts, and secure encryption, these platforms offer a convenient way to enter the world of cryptocurrency mining.

Mining

Demystifying Cryptocurrency Mining

Thursday. January 9 at 12:00 PM

Cryptocurrency mining, the process of securing transactions and creating new coins, can be overwhelming for beginners. It involves using powerful computers to solve complex math problems on the blockchain network. Miners validate transactions and add new blocks to the blockchain, earning cryptocurrency as a reward. While Bitcoin is popular, mining altcoins may be more beginner-friendly. Researching coins, hardware requirements, and joining mining pools can increase success chances. Popular mining pools like Antpool and F2Pool offer consistent rewards. However, mining has costs, including hardware and electricity. Success in mining requires time, patience, and technical knowledge. By making informed choices and utilizing the right tools, anyone can participate in the growing blockchain revolution.

Mining

Riot Platforms Reports Bitcoin Production Increase in December

Wednesday. January 8 at 1:00 AM

Riot Platforms, a US-based Bitcoin miner, has revealed its Bitcoin production and operational updates for December. The company mined 516 Bitcoin during the month, marking a 4% increase from November. This growth is attributed to the expansion of Riot's mining infrastructure, particularly the completion of the first 400 MW of its Corsicana Facility in Texas. Despite delays in hash rate due to a careful commissioning process, Riot CEO Jason Les remains optimistic about the facility's development. While December saw a rise in Bitcoin production compared to November, there was a 17% decrease year over year. However, Riot's strategic BTC purchases have led to a 141% increase in Bitcoin holdings, positively impacting shareholder value. The company also made significant Bitcoin acquisitions in December and announced plans to raise funds for more purchases. Riot's hash rate surged by 155% in 2024, reflecting its efficient Bitcoin mining capabilities.

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