#mining

According to financial services firm Cantor Fitzgerald, the forthcoming Bitcoin halving could render at least eleven prominent mining corporations, including names like Marathon Digital and Riot Platforms, unprofitable under the current BTC prices. The most severe impacts are anticipated for Argo Blockchain and Hut 8.

CleanSpark, a U.S.-based mining enterprise, is gearing up to launch its own trading desk in 2024. CEO Zachary Bradford sees this initiative as a strategic move to optimize profits, surpassing what third-party platforms offer.

In Indonesia, miners were found illicitly connecting their Bitcoin mining rigs directly to the power grid poles, effectively stealing electricity. Law enforcement revealed this information after conducting multiple raids across various sites.

Cryptocurrencies, primarily due to their mining processes, are projected to boost their energy consumption by at least 40% within the next two years. Concurrently, the energy expenditure for AI apps is set to increase tenfold. These findings come from the International Energy Agency's recent report.

JCapital Research analysts have issued a warning about the potential for a significant drop in Hut 8 Mining Corp (HUT) shares, citing possible involvement in fraudulent schemes like Pump & Dump. This alert is primarily based on the company's recent acquisition of US Bitcoin (USBTC) and the ensuing merger.