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The Scoop Mining Report with Wolfie Zhao: Hodlers offload some mined bitcoin

In the last episode of the Mining Report, The Block’s Wolfie Zhao discussed the unprecedented growth of North American bitcoin mining companies in 2021 with massive equipment pre-orders and power capacity build-outs. Over the past few months, there have been several interesting developments in the crypto mining industry. The prices of graphic unit processors, commonly used for mining on Ethereum and other proof-of-working networks, have continued to slump, thanks in part to the overall crypto market downturn. Although Ethereum’s hashrate …

Bitcoin mining stocks halve as ‘turbo-charged’ thesis plays out

Just as the price of bitcoin has steadily declined from highs of near $70,000 to around $42,000 today, so too have the share prices of the biggest crypto mining companies fallen. But the decline of those mining stocks — which experts believe represent a kind of turbo-charged proxy for the price of bitcoin — has been even sharper than bitcoin’s. Several of the largest crypto miners have seen their share prices halve since the highs of November. Based on The …

Bitcoin mining firm Marathon orders nearly $900M worth of new machines

Marathon Digital Holdings, a Nasdaq-listed bitcoin mining company based in Las Vegas, has ordered new machines worth $879.06 million. The order was announced last week, but its purchase price has been disclosed on Tuesday. The order includes 78,000 units of Bitmain’s Antminer S-19 XP mining machines, to be delivered through 2022. The dispatch is divided into six batches, with 13,000 units to be delivered each month from July to December 2022. Marathon will pay Bitmain in batches as well. “35% …