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Bitcoin mining stock report: Friday, May 20

As another week came to a close, most bitcoin miners’ stocks were once again down by the end of Friday’s trading session. Argo, for instance, saw its stock drop by -10.55% on the London Stock Exchange and -9.8% on Nasdaq. On the other side, Stronghold Digital Mining’s stock rose by +12.45%. Bitcoin’s value was close to $29.300 as of press time. Here’s how crypto mining companies performed on Friday, May 20: Trending Stories

Thousands of Bit Digital miners go offline after explosion, fire at NY facility

An explosion last week at the substation of a bitcoin mining facility in Niagara Falls, New York led to a fire and caused thousands of machines to go offline. The facility where the incident happened, on May 10, is owned by Blockfusion, which offers colocation services to miners. One of their clients, Bit Digital, said Thursday that power was cut off to about 2,515 of their Bitcoin miners and approximately 710 Ethereum miners that had been operating at the site. …

Bitcoin mining stock report: Thursday, May 19

Some bitcoin miners saw their stocks go up on Thursday, while others continued on a slower downwards path. Notably, Iris Energy was up +20.36%, BIT Mining +28.05%  and Argo Blockchain +14.58%. Bitfarms, TeraWulf, and Hut 8 were down slightly by the end of Thursday’s trading session. Here’s how crypto mining companies performed on Thursday, May 19: Trending Stories

Bitcoin mining stock report: Wednesday, May 18

After bitcoin mining companies recovered in the stock markets Tuesday, most incurred stock price declines on Wednesday. Argo Blockchain, which held its Q1 earnings call on Wednesday, saw its stock drop -5.88% on the London Stock Exchange and -3.91% on the Nasdaq. Riot, Marathon and CleanSpark registered the biggest losses, at -9.06%, -8.39%,  and -8.00%, respectively. BIT Mining, however, ended the day on a positive note, with its stock climbing +15.38%. Here’s how other crypto mining companies performed in the …

Bitcoin mining stock report: Tuesday, May 17

Bitcoin miners recovered on the stock markets Tuesday, after a rough start to the week. Some of the biggest climbs included Stronghold Digital Mining (+18.01%), Bit Digital (+11.18%), Argo Blockchain (+11.13%). Notably, Iris Energy rose +20.82%. On the other side, Northern Data had fallen 4.02% by the end of the trading session. Here is a look at how other crypto mining companies did in the markets on Tuesday, May 17:   Trending Stories

Study: Many China-based Bitcoin miners may be operating underground

Following China’s crackdown on bitcoin mining last year, a large number of miners were seemingly plugged back into the network by September 2021, according to the most recent data from the Cambridge Centre for Alternative Finance (CCAF). In fact, China still had the second-largest share of the network’s hash rate share (21.11%), following the United States (27.69%). China was home to about half of the world’s bitcoin mining hash rate before the government outlawed the activity last summer. According to …

Bitcoin mining stock report: Monday, May 16

As a new week of trading commenced, most bitcoin miners’ stocks went down during Monday’s trading session. Iris Energy, in particular, fell by 36.45% on Nasdaq. Riot, Marathon and Core Scientific also saw their stocks drop by between 9% and 10%. After announcing declining revenues in the first quarter of 2022, Bitfarms’ stock went down by 5.41% on the Toronto Stock exchange and 7.88% on Nasdaq. Here is a look at how other crypto mining companies did in the markets …

Bitcoin miner Bitfarms scales back growth plans for 2022

Canada-based bitcoin miner Bitfarms reported a net income of $5 million in the first quarter of 2022, down by about 50% from the previous quarter. The firm also said during its earnings call on Monday that it would scale back expansion plans for the rest of the year due to logistics and supply chain issues related to the increase in natural gas prices. President and COO Jeff Murphy spined the current challenges the market is facing as an opportunity for …

An Overview of GPU Mining Economics into the Ethereum Merge

May 16, 2022, 10:59AM EDT • 11 min read Quick Take The Ethereum Merge has recently been postponed to “a few months after June,” according to one core developer in April.  Despite the numerous delays, the Merge is anticipated to take place after all and will transition the consensus algorithm to proof-of-stake.  A looming question is what will happen to the millions of GPUs that are running on the Ethash algorithm at the moment. In this piece, we take a …

Celsius announces plans for an IPO of its bitcoin mining subsidiary

Quick Take Celsius Network announced plans to IPO its wholly-owned bitcoin mining subsidiary on Monday.  Crypto lending platform Celsius has announced plans to take its bitcoin mining subsidiary, Celsius Mining, public. Celsius has submitted a Form S-1 with the Securities and Exchange Commission, which companies must file before going public in the US, according to a statement on Monday. The Initial Public Offering (IPO) process typically takes up to six months from filing the S-1. Celsius allows retail investors to …