How much energy does cryptocurrency mining consume in the U.S.? A recent analysis by the Energy Information Agency (EIA) estimates that large-scale cryptocurrency operations consume more than 2% of the country’s electricity. And as Ars Technica noted in a report on Friday (Feb. 2), that’s around...
Crypto miners are reportedly diversifying into several areas, including artificial intelligence (AI). Miners have repurposed their high-performance computing infrastructure to meet the demand for gaming, image and video rendering services, and AI, CoinDesk reported Monday (Aug. 21), citing JPMorgan. “With the rapid growth of AI, the increased...
Standard Chartered has raised its bitcoin price predictions after seeing increased miner profitability. The bank now projects the crypto asset to reach a price $50,000 by the end of 2023 — a 65% increase from current prices — and then hit $120,000 by the end...
Crypto mining firm Argo Blockchain has made transactions allowing it to continue operating. The firm said in a Wednesday (Dec. 28) press release that its subsidiary would sell its Helios bitcoin mining facility in Texas to Galaxy Digital Holdings for $65 million and refinance its asset-backed loans with a...
July 17, 2024
Cryptocurrency miners are reportedly scrambling to boost their revenues by forging deals with AI developers. As the Financial Times (FT) reported Wednesday (July 17), these miners operate vast, powerful computing sites and have struggled to turn a profit due to high energy costs and reduced rewards for mining. Now, the report says, the miners seek […]
February 04, 2024
How much energy does cryptocurrency mining consume in the U.S.? A recent analysis by the Energy Information Agency (EIA) estimates that large-scale cryptocurrency operations consume more than 2% of the country’s...
August 21, 2023
Crypto miners are reportedly diversifying into several areas, including artificial intelligence (AI). Miners have repurposed their high-performance computing infrastructure to meet the demand for gaming, image and video rendering services,...
July 10, 2023
Standard Chartered has raised its bitcoin price predictions after seeing increased miner profitability. The bank now projects the crypto asset to reach a price $50,000 by the end of 2023...
