American investment bank Jefferies reports a downturn in mining profitability as BTC continues to trade below $60,000, while the hash rate keeps rising. Analysts indicate that in August 2024, daily mining revenues decreased by 11.8% compared to the previous month.

American authorities have charged Charles Parks III with fraud and money laundering related to his operation of illegally mining cryptocurrencies using cloud services. From January to August 2021, the suspect orchestrated a cryptojacking scheme, exploiting third-party computing resources and equipment to mine cryptocurrencies.

Bitcoin doesn’t necessarily have to be bought—it can be mined. However, competing with large mining companies can be tough, prompting solo miners to consolidate their computing resources into pools. This strategy increases the overall hash rate of the pool, enhancing the likelihood of mining a new block. If successful, the reward is distributed among all participants proportionally to their contribution.

The mining firm has purchased its rival for $92.5 million, paying $18.5 million in fiat and the remainder in Riot common stock valued at $74 million.

A solo Bitcoin miner successfully mined block number 860749, earning 3.169 BTC ($180,000). This individual is a member of the Solo CK mining pool, which brings together various standalone miners but only rewards the actual solver of the block.

Quantum Blockchain Technologies (QBT), a research company, has unveiled an innovative bitcoin mining method that utilizes artificial intelligence. According to the company's statement, this new approach to hash verification, as opposed to random selection, boosts the chances of finding a winning hash by approximately 260%.