NFT Mining Simplified: A Comprehensive Guide to GoMining
Explore GoMining's revolutionary approach to Bitcoin mining through NFTs, offering accessible, efficient, and flexible mining strategies for every investor.
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Explore GoMining's revolutionary approach to Bitcoin mining through NFTs, offering accessible, efficient, and flexible mining strategies for every investor.
2023 will definitely be a saving grace for Bitcoin miners.
Abu Dhabi-based Phoenix Group is set to acquire $187 million worth of new Bitcoin mining rigs from Bitmain Technologies, following a $380 million deal with WhatsMiner. The move aims to significantly boost Phoenix's Bitcoin hashing power, positioning the company as a major global crypto miner. The strategic expansion aligns with the recent approval of a Bitcoin exchange-traded fund (ETF) by the SEC, anticipating potential industry growth. Despite competition and profitability challenges in Bitcoin mining, Phoenix Group's aggressive approach underscores its commitment to staying competitive in the evolving sector.
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Bitmain has taken the step of suspending employee salaries, both performance-based and basic wages, in response to ongoing financial difficulties and setbacks in its mining operations.
Tax authorities penalized Bitmain on April 4 for not paying personal income taxes under China’s tax collection and administration law.
Miners with higher cost and large debt load will be weeded out by the crypto winter, according to industry experts.
Previously, it has been reported in the industry that Bitmain founder Ketuan Zhan intends to support Ethereum Classic.
The latest Q2 report also details how energy efficiency among Bitcoin miners is on the rise.
"We are going to become the first city in the world to mine Bitcoin here on site at city hall," said Fort Worth Mayor Mattie Parker.