Mining

Bitdeer Technologies Group Reports 50% Increase in Gross Profits in Q2 2024

Tuesday. August 13 at 5:30 AM

1 min. read

Bitdeer Technologies Group announced a significant 50% rise in gross profits in the second quarter of 2024, attributed to a substantial expansion in its in-house Bitcoin mining capacity. The company's earnings report on Aug. 12 revealed a surge in gross profit to $24.4 million from $16.2 million in the previous year. Bitdeer doubled its self-mining capacity from 3.8 EH/s to 7.3 EH/s, despite the growing global network hashrate and the 2024 halving event. The total Bitcoin network hashrate now stands at 677.43 EH/s, nearly double the previous year's figure. Bitdeer's increased capacity is supported by the deployment of its proprietary SEALMINER mining equipment, with plans to install 3.4 EH/s by the end of the year. Despite a net loss of $17.7 million in the quarter, an improvement from the previous year, Bitdeer secured a $150 million private financing from Tether International Limited in May, further enhancing its operations.

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Bitmain's US Production Line to Counter Trade Tensions

Monday. December 9 at 11:00 PM

Bitmain, a leading Bitcoin mining hardware company, has launched a US-based production line to address delays caused by customs issues and trade tensions. The move aims to provide faster services to North American customers. The first batch of US-made Antminer S21 Pro units is expected to be delivered this month. This decision comes after reports of delays in shipments due to national security concerns. The US Customs and Border Protection had held Bitmain's devices, leading to significant disruptions for American miners. By producing ASICs domestically, Bitmain hopes to ensure a stable supply chain and avoid potential tariffs. This strategic shift also reflects a broader trend in the industry to diversify production locations. The move is seen as a proactive step to navigate evolving market challenges and strengthen Bitmain's competitive position in the region.

Mining

Revolutionizing Cryptocurrency Mining with CryptoKeying

Monday. December 9 at 4:00 AM

CryptoKeying, a prominent cryptocurrency mining platform, has introduced new services to simplify and enhance the profitability of cryptocurrency mining for users and investors. Emphasizing simplicity, transparency, and user empowerment, CryptoKeying aims to revolutionize cloud cryptocurrency mining. The process involves registering on the platform, receiving a $10 bonus upon account creation, selecting a suitable contract, and earning daily profits. Various contracts offer different benefits, such as the 'Experience Contract' or investments in mining equipment like the 'WhatsMiner M30S+'. Additionally, CryptoKeying offers an Affiliate Program where users can earn cash rewards by inviting friends to invest. With a strong presence in over 190 countries, CryptoKeying has become a trusted name in the industry, serving millions of users worldwide. For more details, visit their official website at https://CryptoKeying.com/ or contact them via email at [email protected]

Mining

Kevin O'Leary's Interest in Bitcoin and Alberta's Energy Reserves

Friday. December 6 at 11:00 PM

Kevin O'Leary, Chairman of O'Leary Ventures, finds Alberta Premier Danielle Smith's comments on oil reserves intriguing. Smith highlighted Alberta's vast oil and gas reserves, emphasizing plans for carbon capture and emission reduction. O'Leary praised her energy initiatives, suggesting they align with Bitcoin mining and AI data center needs. He commended her for drawing attention to the potential of natural gas in powering mining operations. Additionally, Smith expressed Canada's commitment to being a key energy partner with the US, regardless of the administration. O'Leary hinted at a budding friendship with Smith and hinted at future collaborations. The article also mentions Smith's upcoming visit to Washington D.C. for the presidential inauguration and her positive outlook on US-Canada relations. O'Leary's interest in Bitcoin and Smith's energy strategies indicate a promising partnership in the making.

Mining

The Rise of Dogecoin and Litecoin in Mining Industry

Friday. December 6 at 8:00 AM

Bitcoin mining company BIT Mining has revealed that mining Dogecoin and Litecoin is more profitable than mining Bitcoin alone. The firm, based in Akron, Ohio, stated that these two cryptocurrencies are proving to be lucrative options due to their increased profitability compared to Bitcoin. Dogecoin, initially created as a joke, has now become the seventh largest digital coin, largely due to Elon Musk's influence. By engaging in merged mining of Dogecoin and Litecoin, BIT Mining has seen nearly three times more profitability than solely mining Bitcoin. The surge in prices of Dogecoin and Litecoin can be attributed to Musk's support and Donald Trump's backing of the crypto space. Despite Musk's positive comments on Dogecoin, he has clarified that he is not actively involved in cryptocurrency. BIT Mining has successfully mined significant amounts of Litecoin and Dogecoin, valued at millions of dollars. As the crypto market continues to evolve, diversifying revenue streams through mining alternative cryptocurrencies has proven to be a wise strategy for companies like BIT Mining.

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