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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.

Bitget Wallet Integrates ZKFair Mainnet, Announces $3,000 USDC Giveaway Amidst ZKF Airdrop

Users can now use the wallet to seamlessly create and import ZKFair accounts on mobile apps and browser plug-ins, facilitating main network asset management, transfers, and interaction with dApps within the ecosystem.

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.

Analysis: Bitmain clearly supports the hopes and difficulties of ETC's revival

Previously, it has been reported in the industry that Bitmain founder Ketuan Zhan intends to support Ethereum Classic.

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?

Voyager Digital issues notice of default to Three Arrows Capital

Voyager said that it will continue to operate and fulfil their customers’ orders and withdrawals amid its current issues.

3K+ Bit Digital hosting partner's crypto miners go offline after explosion and fire

The company said it will be seeking reimbursement for the lost revenue from mining crypto, with operations at Niagara Falls "hoped to resume within a few weeks."

Iceland Cuts Electricity to New Bitcoin Miners

Starting Dec. 7, energy utility services in Iceland will no longer accept new electricity requests from bitcoin mining operations.