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The Pi Network Coin crashed 62% minutes after lunch as investors dumped the token and jumped ship. Post-launch, it reached an all-time high of $1.97 and plummeted immediately after reaching its ATH. It is now down 67% from its ATH and is attracting bearish sentiments in the charts. A quick recovery from here looks bleak as users are still struggling to transfer their ‘mined coins’ into the Mainnet network. Also Read: Shiba Inu: SHIB Price Prediction 10 Years From Now Source: Coingecko This was the only cryptocurrency that allowed users to mine coins on their smartphones. The mining process began in 2019 and continued till February 2025 before being listed on cryptocurrency trading platforms. Millions of users worldwide relentlessly mined the tokens accumulating Pi Coins into their portfolio. The listing on Thursday has allowed users to sell their mined coins on the cryptocurrency exchanges. Source: Coingecko Also Read: Will GTA 6 Accept Crypto Payments? However, the majority...

Swan, a firm focused on offering Bitcoin financial products, is abandoning mining, shelving its planned initial public offering (IPO), and laying off employees, according to a post on X (formerly Twitter) by the firm’s CEO Cory Klippsten.  Swan’s managed mining business targeted large institutional investors with the opportunity to partner with it and invest in mining facilities. The initial announcement of this product noted that Tether had “already dedicated substantial capital to establishing a major presence in bitcoin mining, much of it through Swan.” ANNOUNCEMENT – @Swan is unlikely to continue with our Managed Mining business in the near term. Without the expectation of significant near-term revenue from our Managed Mining unit, we are pulling our plans to IPO in the near future. Accordingly, Swan is pulling back from our… — Cory Klippsten #Bitcoin is for everyone (@coryklippsten) July 22, 2024 In a statement to Protos, Tether said, ...

HeatBit presented a new device combining a Bitcoin miner with a heater . Crypto.news talked with its developer during the Web Summit in Lisbon. An individual Bitcoin transaction is estimated to consume around 710 kWh, equivalent to more than 20 days’ worth of electricity for an average American household. To put this into perspective, the average cost per kWh in the U.S. is around 17 cents, resulting in a substantial energy bill of approximately $120 for a single Bitcoin transaction. HeatBit, a start up, has taken a rather inconvenient approach to alleviating the steep costs linked with Bitcoin mining: combining a Bitcoin miner with a heater . Led by Alex Busarov, an LSE graduate and former McKinsey employee, the company presented its creation at the Web Summit in Lisbon, an event attended by crypto.news. Presented as the world’s first heater -purifier, it not only warms homes but also claims to add an additional $15 to monthly savings. The HeatBit Mini employs silicon chips t...

Marathon, the world’s largest Bitcoin mining firm boasting a hash rate of 19.2 EH/s, is now focusing on international joint ventures for future growth. On Nov. 14, Bitcoin (BTC) mining expert Jaran Mellerud shared Marathon’s operations report, highlighting the company’s preparations for the upcoming Bitcoin halving, set to occur in less than six months. Marathon just revealed the state of its operations in its latest quarterly report. How prepared is this mega miner for the #bitcoin halving? Find out in this thread, and don't forget to read the entire article at the end. pic.twitter.com/QlNgFKlFRP — Jaran Mellerud 🟧️ (@JMellerud) November 14, 2023 As the largest public miner by hash rate and Bitcoin holdings, Marathon boasts an impressive 19.2 EH/s and owns approximately 13,396 BTC, valued at an estimated $474 million. You might also like: Bitcoin miner Marathon Digital posts 670% surge in Q3 revenue According to the report, Marathon has gr...

Kaspersky unveils StripedFly, a stealthy malware posing as a crypto miner , compromising over a million Windows and Linux systems globally since 2016. For over half a decade, a dangerous malware dubbed “StripedFly” has been lurking in the shadows, posing as a crypto mining software. Leading antivirus developers, Kaspersky reported that this duplicitous malware has compromised over a million Windows and Linux systems worldwide since 2016. Kaspersky’s cybersecurity team initiated their investigation into StripedFly last year. They were tipped off by anomalies within their antivirus software, which changed certain functions in the Windows OS.  Our new research on sophisticated #StripedFly malware: https://t.co/vtwmqL4Lyt — Sergey Lozhkin (@61ack1ynx) October 26, 2023 Kaspersky’s investigation  A striking discovery during the investigation was StripedFly’s use of an EternalBlue variant. This exploit, originally developed by the United States...

The Bitcoin miner announced the purchase of 20,000 new Antminer S19j Pro+ at a 25% discount, approximately $13.25 per terrahash. Bitcoin miner CleanSpark is growing its mining capacity in the United States, with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company's computing power by 37%, and brings the total number of miners purchased during the bear market to 46,500 units. According to a statement on Feb. 16, CleanSpark will pay $32.3 million for the machines after applying coupons, at a 25% discount or a total price per terrahash of approximately $13.25. The Pro+ rigs are 22% more productive than its previous models and are planned to be delivered in batches between March and May. The company is leveraging the market's lower rig prices to boost its mining capacity, while the Bitcoin (BTC) price rebounds. According to data from Hashrate Index, the current price per TH of same efficiency Bitcoin mining ASICs...

With uncertainty looming in the Bitcoin mining industry, Hashrate Index, a prominent mining data firm has highlighted a possible outlook for the ecosystem in 2023. As per the report, the bear market is expected to end soon. However, the start of a “full-scale bull market” could take time. It should be noted that the current bear market has existed for 376 days now. While the market is expected to take some time to recover, the Bitcoin mining industry could further crumble. Bitcoin’s hash rate to take a back seat in 2023 Despite the bearish regime of 2022, the hash rate of Bitcoin managed to thrive. However, 2022 ended on a rather bitter note following subzero temperatures in Texas. Since the region struggled to remain stable amid a power shortage, the mining sector was heavily impacted. Source Elaborating on BTC’s hash rate over the next couple of months, the report said, “We will most likely see the hashrate growth slow down in 2023, as the...