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Greenidge Generation mined 195 BTC in May

Greenidge Generation produced 195 BTC in May, a slight decrease from the 197 BTC mined the month before. The company announced operational updates for the previous month on Wednesday. Greenidge had had approximately 1.7 exahash per second (EH/s) of mining capacity from approximately 20,400 miners as of May 31. About 25% of that capacity was located at Greenidge’s facility in South Carolina, which started mining in December 2021. The company is planning to triple its data center capacity to 4.7 …

Bitcoin mining stock report: Wednesday, June 8

At market close on Wednesday bitcoin miners’ stocks were mostly down. Greenidge Generation, which was down -5.08%, announced Wednesday that it had mined 195 BTC in May — a very slight decrease from 197 BTC the month before. Bit Digital mined about 30% less bitcoin in May, it said Wednesday. The company’s stock was down -1.20%. Core Scientific, Mawson Infrastructure Group and Argo Blockchain were up by +3.52%, +1.88% and +1.81%, respectively. Here’s how crypto mining companies performed on Wednesday, …

Bit Digital mined about 30% less bitcoin in May

Bit Digital produced 53.4 bitcoin in May, representing a 29.9% decrease from the previous month. During the same month, the company also mined 27.0 ETH, per an announcement on Wednesday. The company held 793.6 BTC and 316.1 ETH as of May 31, with a fair market value of roughly $25.2 million and $0.6 million, respectively. The company owned 33,376 Bitcoin miners and 731 Ethereum miners at the end of the month — representing an estimated total hash rate of 2.17 …

Bitcoin mining stock report: Tuesday, June 7

A large number of bitcoin miners saw their stocks fall on Tuesday. Cipher Mining, Argo Blockchain and Iris Energy posted some of the largest drops — -7.80%, -5.31% and -4.72%, respectively. Argo announced on Tuesday that it mined 25% less bitcoin in May due to factors like network difficulty and pool rewards. Network difficulty increased by 5.56 % on April 27  and 4.89% on May 11, but more fell back down by -4.33% on May 25, according to BTC.com. Iris Energy, on …

Iris Energy mined 10% more bitcoin in May

Iris Energy reported a 10% increase in Bitcoin mined during May (totaling 151 BTC), over the previous month. The company also said in a statement Tuesday that its average operating hash rate rose to 1,165 petahash per second, representing a roughly 12% increase. That is despite the Bitcoin network difficulty going up by 5.56 % on April 27 and 4.89% on May 11, according to BTC.com. Iris Energy’s revenue was $4.9 million. The company indicated that it was considering additional debt …

Argo mined 25% less bitcoin in May

Argo mined 124 Bitcoin in May — a 25.3% drop from the previous month. The company said the decrease was due to a series of factors, namely the increase in difficulty in the Bitcoin network experienced in May, in a statement Tuesday. Network difficulty increased by 5.56 % on April 27  and 4.89% on May 11, but more fell back down by -4.33% on May 25, according to BTC.com. About 20 BTC of the difference between the two months can …

Bitcoin mining stock report: Monday, June 6

The trading week started off with a mix of Bitcoin companies posting recoveries and others seeing their stocks continue to drop. Notably, TeraWulf’s stock went down by -15.19% and, on the opposite end, Northern Data’s rose by +7.91%. Hut 8 announced with its May operations update that it had mined 309 BTC and decided to hold on to all self-mined bitcoin, keeping with its long-term HODL strategy. Hive also released a statement about last month’s operations stating that it had …

Apple announces new buy now, pay later feature via Apple Pay

Tech giant Apple is jumping into the buy now, pay later (BNPL) fray via a new Apple Pay feature. The feature, dubbed Apple Pay Later, will mirror similar services, with zero interest or fees, with payments being made in four equal increments. Such payments can be issued to merchants that accept Apple Pay. The announcement was made during the first day of Apple’s developer-focused event on Monday. As The Block previously reported, a growing number of financial technology firms have …

Crypto miner Hut 8 begins operations at new Canada location

Hut 8 began mining last Thursday at its new location in Ontario, Canada. So far, the company is operating on 15 megawatts of power, which has added roughly 400 petahashes per second to Hut 8’s operating capacity, according to an announcement Monday. “We are thrilled that our most powerful and efficient machines are now mining Bitcoin at our North Bay site,” said Hut 8 CEO Jaime Leverton. “Over the next several weeks, our team will continue to install and bring …

Coinbase pumped the brakes on hiring as Wall Street’s love affair cooled

“I just got an email today saying my offer had been rescinded … due to a massive hiring plan change at Coinbase.” That’s Ashutosh Ukey, who is among the tech industry workers who saw their hopes to work at one of the biggest digital asset exchanges dashed after Coinbase rescinded outstanding offers as part of an effort to scale back hiring. On May 16, Coinbase said that it would slow hiring in response to an ongoing market slowdown. Then, last …