News list for "Mining enterprise"
Stronghold Digital, which violated energy market rules while prioritizing bitcoin mining, agreed to pay more than $1.40 million in fines and refunds. Stronghold had a contractual obligation to provide usable power to the PJM grid to help ensure the reliability of the grid. However, the FERC's Office of Enforcement determined that Stronghold failed to meet this obligation between June 2021 and May 2022 and instead diverted power to its bitcoin mining operations.
According to the Jefferies report, US-listed bitcoin mining companies accounted for 25.3% of the global hashrate in December 2024. The report pointed out that the bitcoin price rose by 15% in December, which exceeded the 6.5% growth rate of network hashrate, resulting in mining profitability capacity enhancement. US-listed mining companies mined a total of 3,602 bitcoins in December, up from 3,404 in November. Among them, Mara produced the highest output at 890, followed by CleanSpark (CLSK) wit...
Fred Thiel, CEO of bitcoin miner MARA (formerly Marathon Digital), has warned that the current AI development environment is similar to the dotcom bubble of the 2000s, with many companies likely to overbuild their infrastructure in the face of insufficient demand.
On July 29th, the profit crunch after the bitcoin halving has put pressure on the business model of bitcoin mining companies, and some larger companies see this industry hurdle as an opportunity to expand their business or launch a hostile takeover. The bitcoin mining industry is expected to consolidate in the next 18 months, with some well-capitalized miners looking to gobble up competitors, such as Colorado-based Riot Platfor...
Bitcoin miner Marathon Digital has been fined $138 million for breach of confidentiality or non-circumvention agreement. Michael Ho, former co-founder of US Bitcoin Corp and chief strategy officer of mining firm Hut 8, has won a unanimous verdict from a jury in a breach of contract lawsuit against Marathon Digital Holdings.
