Miners Financial News

ETFs) stealing investor capital, it's been a tough year for bitcoin miners. Marathon Digital and Riot Platforms, among the biggest U.S.-listed miners, have dropped about 10% and 33% respectively so far this year, even as bitcoin has climbed 60% year-to-date to $67,859, after hitting a record level in March.

Bitcoin, a once-every-four-years software update called the «halving» has long been held as one of the keys to propping up its value. This time around, it's also set to trigger multibillion-dollar declines in revenue for the very companies that ensure the digital currency's smooth functioning, right on the heels of a surge in their biggest costs. Around April 20, the halving will cut the amount of Bitcoin that «miners» can earn each day for validating transactions to 450 from 900 now. Based on Bitcoin's current price, it could spell revenue losses of around $10 billion a year for the industry as a whole. Marathon Digital Holdings, CleanSpark, and other miners, which compete for a fixed Bitcoin reward by solving mathematical puzzles using superfast computers, have invested in new equipment and sought to buy smaller rivals in an attempt to cushion the drop-off in revenue.

Crypto miner Bitdeer is in discussions with private credit firms to secure $100m in financing to expand its Bitcoin mining capacity.

Marathon Digital Holdings CEO Fred Thiel warned that smaller miners will face financial strain following the Bitcoin halving event in April.

Bitcoin (BTC) miners are offloading part of their assets as they look towards the upcoming halving amid increased market activity and the rising Bitcoin price.

Fidelity Digital Assets speculates losses for some miners if the Bitcoin price remains under $80,000 after the upcoming halving in April.

Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move.

Bitcoin has surged over 4% in the past 24 hours, edging closer to the $45,000 threshold for the first time since mid-January. At the time of reporting, Bitcoin was trading at approximately $44,800, marking a 4.6% increase within the day and a notable 6.3% surge over the past week.

Bitcoin (BTC) mining rig manufacturer, Canaan Inc has raised $50 million in a new funding round by selling preferred shares.

OKX Ventures, the investment arm of cryptocurrency exchange OKX has joined the Ethereum Climate Platform (ECP) to partner towards sustainable climate goals.

A new Glassnode report says that Bitcoin (BTC) Ordinals are not displacing monetary transfers despite concerns of network clogging.

Electricite du Laos (EDL), the state-run power distribution company, has announced a major cut to crypto mining firms in the country, swerving from its pro-crypto stance since 2021.

Digital asset miners are moving to other business ventures including offering high-powered technology services to artificial intelligence (AI) companies to improve earnings.

Wealth management company, Berstein has said that digital asset mining firms with high capacity and a low production cost will become the biggest gainers in the wake of recent trends. 

Evertas, the first digital asset insurance company has announced its acquisition of Bitsure, the first crypto mining insurance provider as it looks to expand its coverage in multiple jurisdictions.