Phoenix Group Buys $187 Million Worth of Bitcoin Mining Machines from Bitmain

Phoenix Group Expands Bitcoin Mining Operations with $187 Million Bitmain Purchase

Abu Dhabi-based Phoenix Group is set to acquire $187 million worth of new Bitcoin mining rigs from Bitmain Technologies, following a $380 million deal with WhatsMiner. The move aims to significantly boost Phoenix's Bitcoin hashing power, positioning the company as a major global crypto miner. The strategic expansion aligns with the recent approval of a Bitcoin exchange-traded fund (ETF) by the SEC, anticipating potential industry growth. Despite competition and profitability challenges in Bitcoin mining, Phoenix Group's aggressive approach underscores its commitment to staying competitive in the evolving sector.

Bitmain Freezes Employee Salaries Amidst Financial Turmoil

Bitmain has taken the step of suspending employee salaries, both performance-based and basic wages, in response to ongoing financial difficulties and setbacks in its mining operations.

Fireblocks Expands Support for Amazon Web Services, Google Cloud Platform, Alibaba Cloud

The new additions are expected to allow banks to configure the Fireblocks platform to their existing IT infrastructure and security policies.

Binance Launches Subscription-Based Cloud Mining Services Amidst SEC’s Crackdown

Binance appears unfazed despite the recent U.S. Securities and Exchange Commission (SEC) charges.

Chinese Authority Charges Mining Firm Bitmain With Tax Violations

Tax authorities penalized Bitmain on April 4 for not paying personal income taxes under China’s tax collection and administration law.

How to build a passive income stream from cloud mining?

Cloud mining is a far safer way to invest in cryptocurrencies and get consistent passive income without directly using mining equipment or hardware.

What Is KuCoin Cloud Mining and What Advantages Does It Have?

Alibaba Cloud launches NFT solution… then quickly memory holes it

The firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website despite still showing up in Google search results.

GEMTrx – Cloud Mining on Tron Made Easy

Bitcoin Mining Council Q4 Survey: Bitcoin Mining Becomes More Sustainable

“This quarter, we saw significant improvements in the energy efficiency and sustainability of Bitcoin mining, a trend that will continue,” said MicroStrategy founder and CEO Michael Saylor.