Bitfarms Plans to End Bitcoin Mining and Shift to AI Following $46 Million Loss
BitFarms Shifts Focus from Bitcoin Mining to AI Infrastructure On Thursday, BitFarms, a known Bitcoin mining company, announced a reduction in its Bitcoin operations to redirect efforts toward artificial intelligence infrastructure. This news came alongside their third-quarter financial report, which revealed a net loss of $46 million—up from a $24 million loss in their Bitcoin […]
Bitfarms Plans to Stop Bitcoin Mining and Shift to AI Following $46 Million Loss
Simply put Bitfarms, a publicly traded Bitcoin miner, reported a loss of $46 million in the third quarter. The company is transitioning away from mining, now focusing on AI computing infrastructure. Bitcoin mining operations are expected to cease between 2026 and 2027. BitFarms announced on Thursday its plans to reduce BTC mining operations and pivot […]
China Blames the United States for a $13 Billion Bitcoin Mining Pool Breach
China Accuses US of Involvement in Bitcoin Hack Last week, China’s Cybersecurity Agency publicly blamed state actors, including the United States, for the 2020 hacking of a Bitcoin mining pool known as LuBian. This incident led to the theft of 127,272 Bitcoins, which are currently valued at around $13 billion. A Bitcoin mining pool is […]
Stocks with the largest changes before the market opens: Iren, Kenvue, Cipher Mining, New Gold and others.
Company Updates Before the Market Opens Iren, a data center company, saw its stock surge by 22% after announcing a significant deal with Microsoft. This agreement allows software and cloud computing providers access to Nvidia GB300 GPUs, valued at $9.7 billion over the next five years. This nearly $10 billion arrangement not only boosted Iren […]
David Blackmon: Mining is Making a Return in America
Revitalization of the American Mining Industry The American mining sector is on the brink of a significant revival, and it seems that this transformation is already underway, highlighted by a number of recent announcements. One notable development took place on October 27. JPMorgan Chase announced a $75 million investment in Perpetua Resources, an antimony mining […]
MAB Group’s R18 Billion Valuation: A Significant Turning Point for African Mining
How Pinagale Mogodi’s Empire is Reshaping Junior Mining in Africa As we approach the end of 2025, significant attention is focused on a major development in South Africa’s mining sector. There’s a pending sale of a 40% stake in a company that could mark a crucial turning point for young miners across the continent. At […]
Stocks Close Varied with Strong Earnings and Weakness in Mining Shares
Stock Market Overview The S&P 500 Index remained stable on Tuesday, while the Dow Jones Industrial Average saw a rise of 0.47%, outperforming the Nasdaq 100 Index, which ended slightly down at -0.06%. December E-mini S&P futures dipped by 0.05%, and December E-mini NASDAQ futures fell by 0.08%. On the whole, stock indexes displayed a […]
New York Democrats Introduce Related Legislation Aiming at Proof-of-Work Mining
Simply put Assembly Bill 9138, introduced in the New York State Assembly recently, proposes a tax for proof-of-work miners based on their electricity usage, ranging from 2 to 5 cents per kWh. A related bill, Senate Bill 8518, aims to direct the tax revenue towards New York City’s energy affordability program for those with lower […]
Start US mining immediately to counter China’s serious trade risks
America’s Rare Earth Dilemma Recently, President Trump issued a warning about a potential trade war with China, highlighting a significant challenge posed by China’s control of rare earth resources. It’s essential for the U.S. to rethink its mining policies, especially after the restrictions set during the Clinton administration left us relying heavily on the Chinese […]
Trump instructs his administration to authorize disputed mining road in Alaska
Trump Administration Approves Controversial Mining Road in Alaska The White House announced on Monday that President Trump has directed his administration to back a contentious project that will enable copper and cobalt mining in Alaska. According to a fact sheet, Trump plans to instruct his team to “issue approvals promptly” for the Ambler Road project, […]