Altcoin News Daily Official TheBitTimes.com

1. Australia-headquartered Iris Energy has bought another 1.3 EH/s of Bitmain’s Antminer T21 model. The bitcoin mining company said the preorder has a similar term to the previous purchase of 1.4 EH/s in October, wherein 20% of the $18.6 million contract is financed by the manufacturer and won’t be due until a year after shipment. Read more 2. Bitmain-affiliated Antpool has overtaken Foundry USA as the largest bitcoin mining pool in terms of monthly blocks mined for the first time since January 2022. Antpool mined 1,219 blocks in November, slightly surpassing Foundry USA’s 1,216 blocks mined and reaping total rewards of 8,672 BTC for its miner clients. Read more 3. Bitfarms announced that in November 2023 they mined 392 BTC and sold 350, generating a total revenue of $12.8 million USD. The hashrate for that month increased by 2% to 6.4 EH/s, and it is expected to rise by 88% to 12 EH/s in the first half of 2024. They also finalized a contract to increase the capacity of their Paraguay...

A new report from The New York Times sheds light on how Chinese investors , aided by Binance, acquired a Texas mining facility. A 23-year-old Chinese national and NYU student, Jerry Yu, appears to be the majority owner of a Texas-based crypto mining facility BitRush, which was backed by $6 million in Tether (USDT) by undisclosed Chinese investors , according to a recent report from The New York Times. In one of the lawsuits filed by Crypton Mining Solutions, which alleges non-payment for services in the Texas Panhandle town, BitRush’s investors — described as “not only Chinese citizens but citizens in highly political and influential business positions” — raised concerns about how exactly the funds were transferred from China to the U.S. The lawsuits, as reported by NYT, exposed a public money trail ending at Binance, which facilitated transactions with USDT through its offshore branch when the exchange’s operations were not adhering to American banking r...

Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin. Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey is backing a new BTC mining pool to help miners regain control of block rewards and transaction fees. Dorsey has led a $6.2 million seed round for Mummolin, the parent company of the new decentralization Bitcoin mining pool called Ocean, according to an announcement on Nov. 29. The seed funding will support the launch of Ocean, which is designed to decentralize and reshape the process of Bitcoin mining . The mining pool specifically aims to provide more mining process transparency and enable miners to receive block rewards directly from Bitcoin rather than from BTC mining pools. Luke Dashjr, Mummolin co-founder and long-time Bitcoin Core developer, believes that the role of mining pools must change for Bitcoin to exist as a truly decentralized currency. “Ocean is a new type of p...

Riot Platforms, a major bitcoin mining company, has invested $162.9 million to acquire 33,280 advanced Bitcoin miners for its Texas data center in anticipation of the 2024 halving event. To prepare for the upcoming halving cycle projected for mid-2024, Riot Platforms has purchased mining rigs from MicroBT. This strategic move will increase Riot’s self-mining capacity by 7.6 exahashes per second (EH/s). Riot Purchases 7.6 EH/s of Next Generation Miners from MicroBT, Manufactured in the United States. Read more in today’s press release: https://t.co/esLToy798H — Riot Platforms, Inc. (@RiotPlatforms) June 26, 2023 CEO Jason Les announced that the new mining machines will be deployed gradually in the first quarter of 2024. Once fully operational, these miners will boost Riot’s self-mining capacity to 20.1 EH/s. Introducing these advanced miners will enhance Riot’s mining capacity by 7.6 EH/s and improve the efficiency of their existing fleet, positioning th...