Tag Archives: Miner

Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

Core Scientific (CORZ) will not make debt payments due in October and November, according to a new securities filing. Shares of the bitcoin mining company were down as much as 76% on Thursday morning. Core said it’s exploring alternatives to its capital structure and is working with financial and legal advisers but noted that it might have to file for bankruptcy. — in which case common stock holders would completely lose their investments. “Given the uncertainty regarding the Company’s… Source link

(Bloomberg) — Tesla Inc. has struck a nickel-supply deal with BHP Group, as the electric-car maker seeks to protect itself from a future supply crunch. BHP will provide the automaker with the metal from its Nickel West operation in Western Australia, the world’s biggest miner said in a statement. BHP gave few further details, but said the companies would work together to make the battery supply chain more sustainable. Telsa’s billionaire boss, Elon Musk, has repeatedly expressed concern… Source link

Active bitcoin miners may see their profitability double following the 28% downward difficulty adjustment in mining on July 3, according to several mining sites.  The North American hash spread – an index invented by digital asset financial services platform BitOoda to measure the difference between bitcoin mining revenue per megawatt-hour and the cost of the needed power – has almost doubled to $449 from $225.  “Mining economics have improved significantly,” Sam Doctor, chief… Source link

Bloomberg A Sizzling Rally Lures India’s Top Bank to Do More Equity Deals (Bloomberg) — A hot equity market in India is prompting HDFC Bank Ltd. to try to muscle in on the action as companies raise record levels of funding.The government has flooded the market with money in response to one of the world’s worst outbreaks of coronavirus, pushing stocks to dizzying levels and helping companies to boost capital buffers. Despite being India’s most valuable lender, HDFC Bank so far hasn’t… Source link

TipRanks J.P. Morgan Says These 3 Gold Stocks Could Surge 40% (Or More) Let’s talk about gold. The precious metal is the traditional safe haven investment, backed by its use – starting 5,000 years ago – as a reliable store of value. Investors looking to protect their portfolio and secure their wealth traditionally bought heavily into gold, and the price of gold has sometimes been used as a proxy (albeit an inverse one) for general economic health. In a recent report, investment firm J.P…. Source link

TipRanks Bull Moves: Analysts Just Upgraded These 3 Hot Stocks The world’s largest asset manager is impressed with the market’s recent gains, and it has made that sentiment clear by upgrading US stocks. In its recent reassessment of conditions in the American financial markets, investment giant BlackRock issued a general upgrade for Wall Street. This wasn’t an upgrade on particular stocks, but on the US market as a whole.Explaining the move, the BlackRock note points out that the daily… Source link