In a surprising turn of events, a significant investment in a crypto mining company has brought together two families with a complex history. The Scaramucci family, known for their Wall Street connections, has poured over $220 million into American Bitcoin. This investment is notable not just for its size, but also because of the family's ties to former President Tru...
Bitfarms, a big player in the Bitcoin mining world, is making a big change. They are slowly stepping away from mining Bitcoin and moving towards AI and high-performance computing. This shift is not just about Bitfarms; it's a trend in the industry. With Bitcoin prices dropping and profits shrinking, many miners are looking for more stable ways to make money. The com...
Daniel and Will Roberts, once bankers, are now worth a whopping $850 million. How did they do it? They switched from crypto to AI. It was a risky move, but it paid off big time. Their journey started with Bitcoin mining. They even took their company, IREN Ltd. , public in 2021. But the crypto market crashed, and their shares lost almost all their value. It was a tou...
Bitcoin mining companies are making big moves into AI. IREN, a major player in Bitcoin mining, just signed a huge deal with Microsoft. The deal is worth $9. 7 billion over five years. IREN will provide Microsoft with powerful GPUs from Nvidia. These GPUs will be hosted in IREN's data centers. IREN isn't stopping there. They also made a $5. 8 billion deal with Dell T...
Riot Platforms is shaking things up in the tech world. The company's CEO, Jason Les, recently shared some big plans. He said that Bitcoin mining is just a stepping stone. It's not the main goal. Instead, it's a way to build something bigger: data centers. Les explained that Bitcoin mining helps Riot make money. This money can then be used to power up data centers. T...
Hive Digital, a company that started with Bitcoin mining and now also builds data centers, just shared its earnings for the first three months of its fiscal year. They made a lot of money, thanks to both Bitcoin mining and their new AI-related services. In this quarter, Hive brought in $45. 6 million. Most of that came from mining Bitcoin, which made $40. 8 million....
Bitcoin mining is a hot topic. It involves massive computer networks that produce cryptocurrency tokens. These operations guzzle enormous amounts of electricity. The environmental impact of this energy use is a growing concern. Especially the air pollution it creates. Fine particle pollution, known as PM2. 5, is a significant issue. This type of pollution is linked t...
Bitcoin mining is a big deal these days. It's not just about the money it makes. It's about the energy and water it uses. This is a big problem for the environment. First, let's talk about energy. Bitcoin mining needs a lot of it. This is true no matter how much energy is used. The good news is that using cleaner energy can help. But the shift to greener energy hasn...
Bitcoin, the top dog in the cryptocurrency world, has a big problem: it uses a ton of energy and isn't kind to the environment. The proof-of-work system it runs on is to blame. As Bitcoin grows, mining it becomes more popular, especially in places where energy and money costs are low. Researchers decided to check if using solar power to mine Bitcoin could be a good s...
As winter approaches, Iran is facing rolling blackouts, leaving people and businesses in the dark. The country’s energy woes are a blend of many factors, including economic mismanagement, international sanctions, and, perhaps surprisingly, a cryptocurrency boom. Bitcoin mining, which demands vast amounts of electricity, has been suspected of contributing to the power...