Jessie Willms

As more bitcoin miners migrate from China, they are hesitant to set up shop in Canada, despite abundant energy and a cool climate. But why?Canada seems to offer many of the advantages for successful bitcoin mining — lots of stranded renewable energy (mostly hydro), a cooler climate (which is easier on equipment) and a lower fiat currency value (more competitive than the...

As the bitcoin mining industry grapples with criticism over its energy use, nuclear power is emerging as its source of the future.The Bitcoin network’s share of global carbon dioxide emissions is only about 0.13% of the global annual total — approximately 47 million tons of a rough total 37 billion tons, by some estimates. But...

The controversial organization has had its first major public briefing, discussing important aspects of the mining industry.Michael Saylor’s Bitcoin Mining Council with 9 founding and 14 new members, presented their research on energy use in bitcoin mining to the public July 1, 2021, as a first step in...

Several U.S. states, including Texas, Wyoming and Illinois, are actively vying to attract bitcoin mining businesses.While China seems serious about shutting down its bitcoin mining sector, Iran’s government is closing down some...

As companies like Ninepoint and Greenridge have demonstrated, Bitcoin is going green. And this will attract more institutional investors.Ninepoint Partners, a Toronto-based investment firm managing $8 billion in assets, and...

Legislation under consideration in New York to stop Bitcoin mining over environmental concerns won’t stop an increasingly-green industry.A bill currently in committee at the New York State Senate is calling for a ban on bitcoin mining for three years while an environmental assessment is conducted to measure greenhouse gas emissions and effects on wildlife of all mining operations in the state.New...

Access to unique power sources and friendly regulations are driving bitcoin mining companies to set up shop in Texas.Texas might seem like an unlikely mecca for large scale bitcoin mining operations. Although energy prices in Texas are relatively cheap — a big draw for miners — the state’s reserve margins are almost nonexistent, as was demonstrated by a recent ice storm that...

With a new facility in Texas, Argo Blockchain is now working on a bitcoin mining pool with renewable energy sources only.Bitcoin mining company Argo Blockchain is on a new adventure as it sets up shop in West Texas, a growing North American mecca for the industry.“We are really excited about this site,” Argo CEO Peter Wall recently told Bitcoin Magazine....

Bit Digital will be colocating in Compute North facilities to leverage its renewable-energy-focused design for bitcoin mining.Bit Digital, one of the largest bitcoin mining companies in North America by hash rate, is expanding its operations by colocating in Compute North facilities, adding an additional 40 megawatts of hashing power with 13,000 new ASIC miners to its arsenal, according to a...

As bitcoin propels its mining industry to new heights, the challenge of obtaining new equipment is critical.Like many providers in the space, international bitcoin mining services company Compass Mining is on a roll. With the success of BTC and rising mining revenues — now at an all-time high of $60 million per day — this rapidly-growing...

The Canadian startup MintGreen develops technology to capture heat produced by bitcoin mining and utilize it for industrial and municipal operations.Today, Canadian clean technology company MintGreen announced the close of a seed financing round as it prepares to deploy a large-scale commercial project to harvest heat from bitcoin mining, according to a press release shared with Bitcoin Magazine. The...

North America’s bitcoin mining industry is changing the way we use energy. But where exactly are these operations drawing their power from?In his introduction to Michael Saylor’s recent conference “Bitcoin For Corporations,” Ross Stevens, founder and CEO of Stone Ridge and NYDIG,...

Compute North, one of the fastest-growing bitcoin mining companies in North America, has announced the close of a growth capital round that netted $25 million in debt financing and equity, which it will use to expand its operations in light of ongoing demand for its data and colocation services. The debt capital was raised as a senior secured loan via investment firm Post...

China-based mining pool Poolin, which contributes the second-largest amount of hash rate of any single entity on the Bitcoin network, has acquired NovaBlock, a North American pool with offices in St. Jose, California and Calgary, Canada. The takeover will net Poolin an additional 1,681.83 petahashes per second (PH/s) in mining capacity, per data from BTC.com...

Hut 8 Mining Corp. has announced a partnership with financial services firm Foundry Digital to secure $11.8 million in financing, which it will put toward 5,400 new MicroBT Whatsminer M30S mining rigs, adding 475 petahashes per second (PH/s) to its mining capacity over the next six months. The financing is structured as a 12-month term with an annual interest rate of 16.5 percent....

Like a hitchhiker taking to the American highways for the first time, anyone hoping to get a clear picture of the universe of bitcoin mining today might be perplexed at the seeming opaqueness, yet sheer size of the North American mining ecosystem. As a miner recently advised new entrants into the space on Twitter:...

Compute North, one of the largest bitcoin mining companies in North America with mining farms in Big Spring, Texas; Kearney, Nebraska; and North Sioux City, South Dakota, is taking a great leap forward through a new partnership with financial services firm Foundry Digital, a subsidiary of Digital Currency Group based in Rochester, New York. Through the partnership, Foundry will supply 14,000 new Whatsminer...

This year, there has been a concerted effort among Bitcoin mining pools and facilities based in North America to contribute a higher proportion of the Bitcoin network’s overall hash rate from the continent, providing critical decentralization to this system. But this has not been without its challenges. The Bitcoin mining environment is one with high...

North American bitcoin mining farms all use mining pools to ensure steady block rewards, compiling hash power from miners operating remotely to compete with the industrialized farms based in China. Most of these mining farms use China-based mining pools (pools whose headquarters and, perhaps, servers for collecting hash power, are located in China) because the fees that they charge for collecting and distributing...

Bitcoin’s underlying computer network is the largest, most sophisticated computerized system in the world with working units in almost every part of the globe, from China to Kazakhstan to Venezuela to the U.S. And with recent all-time highs in hash rate and difficulty level, the Bitcoin mining industry is more competitive than ever. Meanwhile, there are questions about whether...