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Riot has announced its largest hash rate purchase with 18 EH/s supply from MicroBT. The 66,560 latest generation M66S model BTC miners will cost $290.5 million. Riot stock price rose following the news, trading to above $15 on Monday, December 4. Bitcoin mining company Riot Platforms, Inc. (NASDAQ: RIOT), has announced the purchase of over 66k miners from Bitcoin mining hardware manufacturer MicroBT. The purchase adds to the 33,280 miners Riot secured in an earlier agreement. It is the company’s largest so far, Riot CEO Jason Les said in a press release . Riot purchases 18 EH/s of miners from MicroBT According to the mining firm, the new order is for 66,560 of MicroBT’s M66S model, a recently announced miner boasting an efficiency rating of 18.5 Joules per terahash. The total cost for the miners will be $290.5 million, with the average price per TH at approximately $16. Riot also said it had updated its long term purchase agreement with Mic...

Analysts recently debated whether or not the Bitcoin halving is still a meaningful catalyst for BTC’s price discovery. A recent panel at the Swan Pacific Bitcoin festival was cleverly titled, “Are halving price cycles bullshit?” Throughout the discussion, host and founder of the Bitcoin Layer Nik Bhatia asked Marathon Digital CEO Fred Thiel, Swan CIO Ralph Zagury and Swan product manager Andy Edstrom to share their thoughts on whether the Bitcoin halving is truly a bullish event or just another narrative that novice investors buy into.  While the panel’s headline might be offputting for some, the inquiry is of great interest to all manner of Bitcoin (BTC) and cryptocurrency investors. The conventional belief held by many in the space is that the Bitcoin supply halving is a bullish phenomenon that when complete, is followed by near parabolic upside in BTC price. Go and ask any Bitcoin lover about what they’re most excited about in the next year and if they don’t mention the chance ...

The said post saw Ardoino share a picture of a container with the inscription “Tether Energy” and its logo.  advertisement Speculations Around Tether Energy This post has triggered speculations in the minds of many netizens and Tether community members. It has forced many tabloids to ask questions like “Is the site real?”, Did Paolo really photoshopped the logo on a container and many more. In response to all of these questions, the Tether CTO has offered an explanation . GM Lot of speculation from the community on the photo I posted showing a container with the "Tether Energy" logo. "Is the site real?", questioned some tabloid. Did Paolo really photoshopped the logo on a container? Did Paolo really start to eat cabbages and vegetables? Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must...

Xiao Yi was accused of abuse of power and corruption in operating a $329 million Bitcoin mining enterprise. A Chinese government official has been sentenced to life in prison for both illegitimate business operations of running a 2.4 billion Chinese Yuan ($329 million) Bitcoin mining enterprise and unrelated charges of corruption .  According to local media reports, on Aug. 22, the Intermediate People's Court of Hangzhou City sentenced Xiao Yi, a former member of the Jiangxi Provincial Political Consultative Conference Party Group and Vice Chairman, to life in prison for corruption and abuse of power. The corruption charges stem from non-crypto-related activities of bribery from 2008 to 2021. The abuse of power charges, dating from 2017 to 2021, stem from providing financial and electricity subsidies to Jiumu Group Genesis Technology, a firm based in the City of Fuzhou that at one point operated more than 160,000 Bitcoin (BTC) mining machines. Prosecutors say that Yi "c...

The Virunga National Park's Bitcoin mine in the Democratic Republic of the Congo monetizes surplus energy for conservation efforts. Virunga National Park in the Democratic Republic of the Congo has become the first national park in the world to run a Bitcoin (BTC) mine in an effort to protect its forests and wildlife. Cointelegraph spoke with Sébastien Gouspillou, CEO of Big Block Green Services, and the man who introduced Bitcoin mining to the park.  Speaking via video call, Gouspillou said with a smile: “Bitcoin mining saved the park from bankruptcy.” Virunga is Africa's oldest protected park and a symbol of the continent's biodiversity. A report by journalist Adam Popescu, published in MIT Technology Review, explained that the region was plagued by issues prior to Bitcoin mining. From local militias that waged violent attacks on its animals and employees to outbreaks of Ebola to kidnappings, the emblematic national park has struggled for revenue in recent years.  The...