#mining

Faced with mounting competition in Bitcoin mining, Michael Novogratz’s Galaxy Digital is redirecting its focus. The company is now eyeing alternatives that could promise higher revenue streams.

Bitcoin’s mining difficulty increased by 3.9%, reaching a new all-time high. According to Mempool data, the seven-day moving average of the network hashrate also reached a record level.

Michael Saylor, the CEO of MicroStrategy, made a bold prediction about the future of Bitcoin mining.

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.

Japanese company Agile Energy X started using surplus renewable energy for Bitcoin mining. According to company president Kenji Tateiwa, this initiative will help balance supply and demand in the energy grid while boosting the popularity of green energy sources.

Bernstein analysts report a growing investor interest in Bitcoin mining companies that are shifting their focus to the artificial intelligence (AI) and high-performance computing (HPC) sectors.

Mining company Ionic Digital, which acquired assets from the defunct Celsius platform, postponed its initial public offering (IPO) after losing its CEO and auditor. However, the company’s management remains committed to its plans to go public.

German telecommunications company Deutsche Telekom is testing Bitcoin mining infrastructure using surplus energy.

WhitePool, the mining pool created by WhiteBIT, continues to gain momentum in the mining sector. Since its launch in August 2024, it has quickly climbed to 15th place in the global mining pool rankings.

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.

Core Scientific, a mining company, is targeting a $25-30 billion valuation by offering high-performance capabilities for AI data centers, according to CEO Adam Sullivan, who highlighted the need to diversify their business.

WhiteBIT's crypto mining pool marked its successful debut month by breaking into the top 15 global mining pools. WhitePool mined over 200 blocks, maintaining an average production rate of 2–3 blocks per day.

TeraWulf, a mining company, is set to launch a new Bitcoin mining facility named WULF Den by the end of September 2024. This facility will be equipped with a liquid cooling system and will deliver a minimum of 2 MW of power, substantially increasing the company's total output.

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.