Bitcoin’s Mining Difficulty Rises for the First Time in 57 Days, BTC Hashrate Slipped 1.7% Lower in Q2

The mining difficulty tied to the Bitcoin network increased for the first time in 57 days, rising 1.74% higher than the last two weeks. Meanwhile, Bitcoin’s hashrate has been below average as the network’s computational power is down 1.7% lower in the second quarter than in Q1 2022. After reaching 292 exahash per second (EH/s) on June 8, Bitcoin’s hashrate today is coasting along below the 200 EH/s mark at 182 EH/s. Bitcoin’s Difficulty Increases, Making It More Difficult to Discover Block Rewards for the Next 2 Weeks Following the…

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Bitfarms Adds 18 MW of Capacity to ‘The Bunker’ — Miner’s Daily Production Taps 16.8 BTC per Day

On July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200 petahash per second (PH/s). Bitfarms Adds 18 MW to ‘The Bunker,’ Firm Says Daily Production Reaches 16.8 Bitcoin Bitfarms Ltd. (Nasdaq: BITF) has announced the company has improved The Bunker by adding 18 MW of…

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Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry

On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware deliveries.” DCG Company Foundry Launches Mining Logistics Arm Foundry, the crypto mining, staking firm, and DCG company has announced the launch of a new company venture called Foundry Logistics. The new mining logistics arm…

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Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales

Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are extremely close to running a risk of default. Analyst Says Miners ‘Are Nervous About Their Loan Books’ The price of bitcoin (BTC) is 21% lower than it was two weeks ago and the price drop…

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Riot Blockchain Is Constructing a 1 GW Bitcoin Mining Facility in Navarro County, Texas

The publicly listed bitcoin miner Riot Blockchain has announced the company has started development on a 1 gigawatt (GW) bitcoin mining facility in Navarro County, Texas. The development of 400 megawatts (MW) of capacity has been initiated on the 265-acre site and the team hopes to have bitcoin mining and hosting capabilities online by next year. Riot Is Developing a 1 GW Bitcoin Mining Data Center — Company Plans for 400 MW of Capacity to Be Online by July 2023 Riot Blockchain (NASDAQ: RIOT) is expanding operations in Texas as…

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