CleanSpark purchased 160,000 Bitmain S21 mining machines, with the first batch of 60,000 units priced at US$193.2 million.

Phoenix Group Expands Bitcoin Mining Operations with $187 Million Bitmain Purchase

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.

Phoenix Boosts Bitcoin Mining Arsenal with $187M Machine Acquisition

Phoenix Group's strategic investments in cutting-edge mining technology, coupled with its market debut and oversubscribed IPO, solidify its presence as a formidable player in the global Bitcoin mining landscape. However, the lack of response to inquiries raises questions about transparency and communication practices within the company, warranting further scrutiny.

Cipher Mining Secures Deal with Canaan for Miner Expansion

Bear LLC and Chief Mountain LLC, joint ventures in which Cipher holds 49% interests, will purchase 16,700 units of the latest Avalon A1466 miners from the country.

Bitmain Freezes Employee Salaries Amidst Financial Turmoil

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.

Canaan Unveils A14 Series Miners, Joining the 1X J/T Club

Canaan, marking its 10th anniversary, made a significant announcement at the Avalon Bitcoin & Crypto Day (ABCD) conference with the official release of its A14 series mining models.

Kosovo police seize cryptocurrency mining machines from Serbs

Bitcoin miner capitulation due to end amid 1st difficulty increase since June

It may be as soon as August that miners start returning, and difficulty is already planning an uptick.

Not just Bitcoin price: Factors affecting BTC miner profitability

As many crypto holders are gearing up for a bear market, what are the factors influencing the mining business?

Compass Mining retrenches 15% of staff, execs to take major pay-cuts

Compass Mining parts ways with 15% of its workforce while senior employees and executives take major pay-cuts in the wake of the cryptocurrency downturn.

Bitcoin ASIC Miners Plummet To Lowest Price Since Jan 2021

Data shows the price of the Bitcoin ASIC miners has plunged down to the lowest value since January of last ...