Mining

Canadian Tribunal Halts Bitfarm's Poison Pill Strategy in Takeover Battle

Thursday. July 25 at 12:00 PM

1 min. read

A Canadian tribunal has intervened in Bitfarm's attempt to block a takeover by rival mining firm Riot Platforms. The Ontario Capital Markets Tribunal issued a cease trade order on Bitfarms' poison pill plan, effectively ending the strategy. Bitfarms had been resisting Riot's $950 million buyout offer, claiming it undervalued the company. The poison pill strategy, known as the 'rights plan,' aimed to prevent the takeover by diluting the value of shares for the acquirer. Riot CEO Jason Les welcomed the tribunal's ruling, calling it a victory for Bitfarms shareholders. The battle for control continues, with Riot pushing for its director nominees to be elected to Bitfarm's board. Bitfarms, operating Bitcoin mining facilities in multiple countries, faces leadership changes following the departure of its former CEO. The clash highlights the challenges of corporate governance in the crypto mining sector.

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Riot Platforms: Positive Outlook for Bitcoin Mining Company

Wednesday. October 30 at 9:00 PM

Riot Platforms, a Bitcoin mining firm, is anticipated to reveal its third-quarter results for 2024 on October 30, sparking optimism among shareholders. Despite a year-to-date decrease of 28.96%, the stock has surged by 13.91% in the past year. With a projected per-share loss of $0.16 and revenues of $95.35 million for Q3, Riot's stock price has risen by nearly 3% recently. The company's shares are trading above their moving averages, indicating an upward trend. However, an overbought RSI of 73.07 suggests a potential correction. Riot Platforms, operating in Texas and Kentucky, has focused on enhancing Bitcoin mining efficiency and digital infrastructure. Shareholders eagerly await the earnings report to gauge the company's growth amidst industry changes.

Mining

Russia's New Cryptocurrency Regulations

Wednesday. October 30 at 5:30 AM

Russia has recently passed two bills that have significantly altered its stance on cryptocurrency. The State Duma has now legalized cryptocurrency mining, effective from November 1, 2024, with specific conditions for legal entities and individual entrepreneurs. Unregistered individuals can also service mining rigs within power consumption limits. Oversight responsibilities have been assigned to various institutions, primarily the Bank of Russia. Additionally, a new law introduces an 'experimental regime' led by the central bank, allowing select companies to engage in cross-border crypto settlements and exchange trading. The regime aims to explore innovative uses of digital currency and establish a regulatory framework. Russia also prohibits public advertising of cryptocurrencies to control their depiction and usage. These regulations demonstrate Russia's openness to digital currencies while ensuring stability and regulation. The country's approach may serve as a model for other nations seeking a balance between innovation and oversight in the cryptocurrency sector.

Mining

Empowering Investors with AONE MINING

Tuesday. October 29 at 5:30 PM

AONE MINING, founded in 2019, caters to 6.3 million smart cloud mining investors with a focus on long-term investment and clean energy. The platform, led by top blockchain technicians, attracts users globally interested in cloud mining. AONE MINING's unique brand and business model have secured significant financing. Users seek self-realization and wealth growth through cloud mining, benefiting from innovative technologies that simplify the process and lower investment barriers. The platform ensures fund security and network reliability through robust measures. With 20 mining data centers worldwide and cutting-edge equipment, AONE MINING offers a profitable crypto journey. By leveraging clean energy sources and advanced cooling technologies, the platform ensures sustainable and efficient mining operations. Join AEON MINING for a rewarding digital asset experience. Visit their official website at https://aeonmining.com/

Mining

Bitcoin Miners' Stock Prices Surge Amid Market Rally

Tuesday. October 29 at 9:30 AM

Bitcoin mining companies experienced a significant surge in stock prices, with some soaring as high as 24.4% on Oct. 28. The rally was attributed to Bitcoin's price surpassing $70,000 and a favorable macroeconomic environment. Analysts highlighted factors such as deficit spending, lower interest rates, and concerns about inflation driving investors towards Bitcoin markets. Additionally, miners diversifying into AI and high-performance computing sectors contributed to the positive market performance. Companies like Bitdeer Technologies, IREN, Gryphon Digital Mining, and Hut 8 witnessed notable gains. The market also saw a relief in sell pressure from unprofitable miners post the 2024 Bitcoin halving event. Furthermore, countries like Argentina, the United Arab Emirates, and Ethiopia are exploring Bitcoin mining using state-owned resources. Amidst these developments, Bitcoin crossed the $70,000 milestone for the first time since June 10, with predictions of reaching $2.9 million per coin by 2050.

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