NFT News Today Official TheBitTimes.com

Marathon Digital, a prominent player in the realm of Bitcoin mining, has acknowledged that it inadvertently mined an invalid Bitcoin block as part of an “experimental” endeavor aimed at refining the company’s operational strategies. In a post dated September 27th, Marathon revealed that a minor fraction of the company’s hash rate is allocated to these experiments, emphatically clarifying that their intention was never to tamper with the integrity of the Bitcoin network. Marathon underscored, “This experiment in no way aimed to modify Bitcoin Core in any manner,” emphasizing their swift rectification of the error as soon as the invalid block was detected. Crucially, it’s important to note that the bug responsible for this occurrence originated within the firm’s internal development environment and had no association with Marathon’s Bitcoin production pool or Bitcoin Core—the primary software interface for connecting to the Bitcoin ...

Tecpetrol, an Argentinian oil company, has announced plans to launch a crypto mining facility powered by natural gas. The project will be in Los Toldos II Este region, north of Vaca Muerta in Argentine Patagonia. The mining facility will start operating in late October or early November. You might also like: Worldcoin breaks an all-time high user record in Argentina Tecpetrol has launch ed an initiative to convert excess gas produced during oil drilling into energy for crypto mining . The goal is to minimize environmental impact by avoiding gas emissions and flaring, which burns off gas that can’t be stored or transported easily. The project will help Tecpetrol optimize gas utilization, reduce waste, and improve crude oil production. Crypto mining will be used strategically to consume gas that would otherwise be wasted or burned. You might also like: Environmental lawyer weighs in on crypto mining and taxation proposal Follow Us on Google News Sou...

On June 22, authorities in Libya searched and arrested several individuals as part of their efforts to combat illegal crypto mining in the country. The raid in a data center resulted in the detention of 50 Chinese nationals. Libya crackdown on illegal crypto mining During a search by interior ministry agents at a farm in Zliten, located 160 kilometers east of Tripoli, they reported that minors were generating virtual currencies with the assistance of the detained Chinese individuals.  You might also like: Global regulators scrutinizing Binance, bitcoin breaks above $31,000 on rising institutional adoption| Weekly recap In a video shared on Facebook by the Tripoli prosecutor’s office, the crypto - mining operations were conducted in structures without windows, housing numerous industrial fans and a significant quantity of computers and hardware. This occurred shortly after prosecutors announced the dismantling of another illegal crypto-mining farm in the port city of...

The bankruptcy plan explained that holders of allowed debtor-in-possession claims would receive full and final satisfaction of their claims. Bankrupt Bitcoin (BTC) miner Core Scientific filed its Chapter 11 bankruptcy plan. The plan was filed in the United States Bankruptcy Court for the Southern District of Texas Houston Division. The plan was negotiated with key stakeholders, and according to the filing, the firm is “seeking to build as much consensus as possible” about how a new Core Scientific would look after emerging from its bankruptcy proceedings. The company said it had seen a boost in liquidity since filing for Chapter 11 bankruptcy and is focused on revamping its business plan to make a successful comeback. The company attributed its improved financial performance to higher Bitcoin prices, increased network hash rate and reduced energy costs. A Chapter 11 bankruptcy allows a firm to continue operating until stakeholders agree on a restructuring plan, which could involve me...

The deadline for bidders to submit offers for the Bitcoin-machine-backed loans is set for Jan. 24. Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports. In a Bloomberg report on Jan. 24, two people “familiar with the matter” claim that BlockFi started the process of selling off the loans last year. The crypto lender filed for Chapter 11 bankruptcy in Nov. 2022, citing its significant exposure to the now-defunct crypto exchange FTX for its downfall. However, some of these loans have already defaulted since then and could be undercollateralized given the decline in the price of Bitcoin mining equipment, according to the sources, adding the last day for bidders to submit offers for the loans is Jan. 24. In comments to Cointelegraph, crypto lawyer Harrison Dell, director at Australian Law firm Cadena Legal explained that if Bitcoin Mining equipment used as co...

Public Bitcoin miners will actively work to minimize costs in 2023 by going private or merging with other firms, Hash Rate Index analysts predicted. After a shocking year for Bitcoin (BTC), public miners will focus on strengthening balance sheets and minimizing costs this year, according to industry analysts. Bitcoin mining cost minimization will likely lead public miners to either go private or merge with other companies in 2023, Hash Rate Index’s Bitcoin analysts Jaran Mellerud and Colin Harper predicted. In a blog post titled “10 Bitcoin mining predictions for 2023,” the analysts pointed out that public miners are burdened with strict reporting requirements, such as spending millions of dollars on annual reporting. After many Bitcoin mining stocks plummeted 90% in 2022, public miners could significantly reduce administrative costs by going private or merging with others to share the costs. Alongside predicting that 2023 will become the year of Bitcoin miners’ merge, Hash Rate In...