Public miners experienced a 15% month-over-month decline in Bitcoin production in January, producing 3,267 BTC as mining difficulty and hash rate reached all-time highs. While Riot Platforms reported a slight increase, other major miners like Marathon Digital and Hut 8 faced significant drops in output. The surge in mining difficulty, which rose 5.6% to 114.1 trillion, alongside a record hash rate of 845.42 EH/s, has intensified competition and reduced profitability, with hashprice falling to $54 per petahash daily.
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Crypto Venture Capital Investments Increase 26 Percent Year on Year in 2024
Crypto venture capital investments surged 26.1% in 2024, totaling $9.33 billion, with 1,535 projects disclosed. December saw a 60.9% month-on-month funding increase to $740 million, despite an 18.7% year-on-year decline. DeFi projects led the sector, while notable deals included Stripe’s $1.1 billion acquisition of Bridge and Iris Energy’s $413.4 million raise.
read moreBitcoin Reaches New Highs Amid Market Euphoria and Regulatory Optimism
Bitcoin (BTC) surged to a new all-time high of $89,604, driven by increased institutional interest and market euphoria following Donald Trump’s election victory. The rally has also impacted altcoins like Ethereum (ETH) and Dogecoin (DOGE), with significant gains across the crypto market. However, analysts caution new investors about potential risks and the correlation between market entrants and malicious activity.
read moreBitfarms and Riot Settle Disputes and Expand Board Ahead of Meeting
Bitfarms and Riot Platforms have reached a settlement ahead of Bitfarms’ special shareholder meeting on Nov. 6, resolving months of tension following Riot’s hostile takeover bid. Under the agreement, Riot will support the expansion of Bitfarms’ board and maintain a standstill until 2026, while also endorsing the election of an independent director. This collaborative effort aims to enhance shareholder value and will be filed with the US Securities and Exchange Commission.
read moreBitcoin Mining CEOs Set Price Target of 250000 for 2028 Halving
At the HC Wainwright Bitcoin Mining Panel, leading CEOs from major mining firms discussed the industry’s future, emphasizing Bitcoin miners’ role in energy grid management and sustainability. Predictions for Bitcoin’s price before the next halving range from $100,000 to $250,000, reflecting optimism about its long-term value. The executives highlighted the need for strategic growth and efficient operations in a rapidly evolving market.
read moreRiot Platforms Challenges Bitfarms Amid Hostile Takeover and Strategic Acquisitions
Riot Platforms is intensifying its efforts to take over Bitfarms, criticizing recent board changes as insufficient and reactive. With a 19.9% stake in Bitfarms, Riot has reduced its proposed director slate ahead of a shareholder vote, while Bitfarms’ acquisition of Stronghold Digital Mining for $175 million is seen as a strategic move to bolster its defenses against the takeover. Riot has raised concerns about the timing and cost of this acquisition, suggesting it aims to entrench the current board further.
read moreRiot Platforms Increases Stake in Bitfarms Amid Boardroom Tensions
Riot Platforms has increased its ownership stake in Bitfarms to 18.9% by purchasing an additional 1 million shares at an average price of approximately $2.28 each, raising its total holdings to 85.3 million shares. This move intensifies ongoing tensions following Riot’s rejected $950 million acquisition offer and the subsequent removal of Bitfarms’ co-founder and chair, Nicolas Bonta. Riot aims to influence Bitfarms’ board and strategic direction while also expanding its operations, including a recent acquisition in Kentucky.
read moreRiot Platforms Increases Stake in Bitfarms Amid Ongoing Tensions
Riot Platforms has increased its stake in Bitfarms by acquiring an additional 1 million shares for $2.28 million, raising its total ownership to 18.9%. This move follows Riot’s rejected $950 million acquisition offer and ongoing efforts to influence Bitfarms’ board, resulting in the departure of co-founder Nicolas Bonta. Meanwhile, Riot continues to expand its operations, recently acquiring Block Mining for $92.5 million to enhance its hashrate and market presence.
read moreRiot Increases Stake in Bitfarms Through Strategic Share Acquisition
One Bitcoin miner, Riot Platforms, has increased its stake in rival Bitfarms to nearly 16% by acquiring an additional 10 million shares. This move follows Bitfarms’ shareholder rights plan being nullified and the threshold for equity dilution being raised from 15% to 20%. Despite Bitfarms’ board claiming unawareness of any takeover bid, Riot continues its acquisition strategy and public campaign for a special shareholders’ meeting.
read moreRiot Platforms Acquires Block Mining in $92.5 Million Cash and Stock Deal
Riot Platforms has acquired Block Mining, a Kentucky-based Bitcoin mining firm, in a $92.5 million cash plus stock deal. The acquisition will expand Riot’s operations, adding 60 megawatts of capacity with plans to reach over 300 MW by 2025. Additionally, the US spot Ethereum exchange-traded funds market saw significant inflows, with BlackRock’s ETHA leading with $266.5 million on their first trading day. The total trading volume for the ETFs surpassed $1.1 billion, marking a solid first day for the US Ethereum spot ETFs.
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