LM Funding America, Inc. Provides Year-End Business Update; Reports Successful Repositioning into Bitcoin Mining Strategy

    Lm Funding America Inc 2023-04-01 60855 views Mining
    Full-Year 2022 Revenue Increased by 93% and Mined 51 Bitcoins in the Fourth Quarter 2022 Approximately 2,800 Mining Machines Fully Operational Providing the Company with 280 PH/s of Mining Capacity at 2022 Year-End Reports Working Capital of $8.3 Million and LMFA Stockholders' Equity of $49.2 Million ($3.76 per share) as of December 31, 2022 TAMPA, Fla., March 31, 2023 /PRNewswire/ -- LM Funding America, Inc. (NASDAQ: LMFA) ("LM Funding" or the "Company"), a cryptocurrency mining and technology-based specialty finance company, today provided a business update and reported financial results for the year ended December 31, 2022.

    Bitcoin Miner Stronghold Raises Year-End Hashrate Guidance to 4 EH/s

    Stronghold Digital Mining Inc 2023-03-31 66282 views Mining
    Stronghold Digital Mining (SDIG) raised its year-end bitcoin mining computing power forecast to 4 exahash/second (EH/s) from 3 EH/s, according to a Wednesday statement. For the fourth quarter, the company's net loss widened 45% to 74 cents per share from the year-earlier quarter. The company widened its 12-month revenue forecast to between $94 million and $129 million from a previous range of $108 million-$114 million. Mining profitability, which is measured as the hashprice, is seen 7 cents to 10 cents per terahash/second (TH/s) per day. Previously, it said it expected a hashprice of approximately 9 cents/TH/s. An exahash is 1 million terahash.

    Crypto Winter Ends Era of Bitcoin Mining ‘HODLers’

    coindesk 2023-03-16 57036 views Mining
    Bitcoin miners are no longer able or willing to hold onto all of their mined digital assets indefinitely as a slump in prices is eating into their margins. The last publicly listed bitcoin miner to pursue a 100% “HODL” strategy since the bull market, Hut 8 Mining (HUT), said last week that it finally gave in and sold 188 bitcoins in February to fund operations. Miners in general have found it difficult to raise funds for operations, including in the form of capital in public markets, amid a slide in the broader financial market and narrowing margins. Some of the miners that opted to hold onto their mined bitcoin (BTC) through the last bull market and into this bear cycle are now starting to sell the coins, mostly to pay for their daily operating expenses.

    BIT Mining Announces Sale of Remaining Shares of Crypto Flow Technology Limited

    BIT Mining 2023-03-16 51718 views Mining
    AKRON, Ohio, March 15, 2023 /PRNewswire/ -- BIT Mining Limited (NYSE: BTCM) ("BIT Mining" or the "Company"), a leading technology-driven cryptocurrency mining company, today announced that the Company entered into a share sale and purchase agreement (the "Sale and Purchase Agreement") with an unaffiliated third party (the "Buyer"), pursuant to which the Company agreed to sell, and the Buyer agreed to purchase, all of the Company's remaining share ownership in Crypto Flow Technology Limited ("Crypto Flow"), previously known as Loto Interactive Limited, namely, 48,195,605 shares of Crypto Flow, representing approximately 8.79% of the total issued share capital of Crypto Flow, at the price of HK$0.38 per share (the "Sale Price") for the total consideration of HK$18,314,330 (the "Transaction").

    Why Do Bitcoin Miners Need Renewable Energy?

    2022-03-29 1581 views Mining
    The mining operations of most companies consume a lot of fossil energy and emit a lot of carbon dioxide, which is why many bitcoin mining companies have received a lot of criticism. In the early days of bitcoin mining, miners could obtain b...

    Energy companies are becoming major players in the cryptocurrency space.

    2022-03-27 1467 views Mining
    Exxon Mobil Corp. is working on a project to use exhaust gas from its North Dakota oil wells to power bitcoin mining operations. Exxon Mobil Corp.  launched the project in January last year and is looking to build similar projects in Alaska...

    Young people in the cryptocurrency space

    2022-03-25 1839 views Mining
    Investors and major financial institutions have been paying close attention to cryptocurrencies due to their huge gains since their emergence. At the same time, some ordinary people have also joined the money game of chasing cryptocurrenc...

    Bitcoin mining difficulty is lowered again, report shows that listed Bitcoin mining companies will expand in 2022

    2022-03-24 1372 views Mining
    According to the latest data, the Bitcoin mining difficulty was lowered by 0.35% to 27.45T. Since March 4th, the Bitcoin mining difficulty has been lowered twice in a row. Previously, Bitcoin had four consecutive reductions in mining diffic...

    South Korean Government Considers Postponing Crypto Income Tax

    2022-03-19 1548 views Mining
    The presidential handover committee of the new group of Yin Xiyue’s government is considering delaying the implementation date of the new crypto income tax law from 2023 to early 2024.The new version of the Income Tax Act of the South Korea...

    U.S. SEC plans to amend the Securities Exchange Act, or have an impact on encryption and DeFi

    2022-03-19 1269 views Mining
    The U.S. Securities and Exchange Commission (SEC) introduced proposed amendments to the Securities Exchange Act of 1934.There are discussions pointing out or having an impact on crypto and DeFi. The amendment calls for the definition of an ...

    Ukrainian commercial bank PrivatBank has restricted local currency purchases of bitcoin

    2022-03-19 1224 views Mining
    Ukraine’s largest commercial bank, PrivatBank, has temporarily restricted its customers from using the national currency hryvnia (UAH) to buy bitcoin, following an order from the central bank.The restriction is related to the decision of th...

    Russia's central bank issues digital asset licenses to Sberbanks, a clear policy reversal

    2022-03-19 1463 views Mining
    The Central Bank of Russia has previously called on the government to ban cryptocurrencies in Russia. But on Thursday, the CBR added Sberbank, the country's largest lender, to its list of operators of its digital financial asset information...

    Head of fake UN-affiliated agency found guilty of cryptocurrency fraud

    2022-03-19 1502 views Mining
    Asa Saint Clair, the president of a fake United Nations branch, has been convicted of wire fraud, according to a press release issued by the U.S. Attorney's Office for the Southern District of New York.U.S. Attorney Damian Williams said the...

    Japanese man arrested for bitcoin cyber scam in Thailand

    2022-03-19 1412 views Mining
    On March 18, the police in Chonburi Province, Thailand held a press conference to announce the detection of a bitcoin online fraud case, and arrested a 43-year-old Japanese man Yang and five Thais who participated in the fraud.It is underst...

    Crypto financial institution BlockFi provider Hubspot suffers data breach

    2022-03-19 1212 views Mining
    On March 19, the cryptocurrency financial institution BlockFi confirmed that one of its third-party suppliers, Hubspot, had suffered a data breach.Hubspot stores user data such as names, email addresses, and phone numbers. According to the ...

    European Parliament votes against PoW ban, providing huge relief to the crypto industry

    2022-03-18 1061 views Mining
    The moderate version of the regulatory framework's draft prevailed in the ECON committee voting.

    Crypto Mining vs. Investing: What's Profitable at the Current Rates?

    2022-03-18 1390 views Mining
    With the current crypto prices, electricity rates, and mining difficulty, investors should think hard before committing their capital to mine instead of buying crypto.

    How Does Bitcoin Mining Work?

    2022-03-18 1190 views Mining
    Bitcoins are discovered rather than printed. Computers around the world “mine” for coins by competing with each other.

    Bitcoin Mining Difficulty: Everything You Need to Know

    2022-03-18 1584 views Mining
    In order to ensure bitcoin blocks are discovered roughly every 10 minutes, an automatic system is in place that adjusts the difficulty depending on how many miners are competing to discover blocks at any given time.

    Canaan Shares Surge as Company Authorizes up to $100M Buyback Program

    2022-03-17 1131 views Mining
    Canaan’s (CAN) stock surged more than 30% in early trading on Tuesday after the crypto-mining computer manufacturer announced it has approved a program to buy back up to $100 million worth of its shares, after completing its previous $20 mi...
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