Features TheBitTimes.com

The Bitcoin mining company kicked off the second phase of its mining campus in Georgia, gearing up for the next Bitcoin halving. Bitcoin miner CleanSpark has begun the second phase of operations at its mining campus in Washington, a city in the U.S. state of Georgia, reaching 8.0 exahashes per second (EH/s), halfway to its year-end target of 16 EH/s.  The second phase saw an investment of nearly $55 million in the site, including construction, infrastructure and machines. The facility , bought in August 2022 for $25.1 million, had 15,000 mining machines with a power capacity of 50 megawatts (MW). According to the company, the capital deployed expands its total power capacity to 86 MW. “Today, it’s 50 megawatts of new power added on to the 36 megawatts we previously had constructed there. So, there’s 86 megawatts, or 12 times the load provided by the city," said Matthew Schultz, CleanSpark’s executive chairman, during an investors' conference on July 13. According to Schu...

Bitcoin mining giant Core Scientific has been the topic of discussion for an array of reasons. Starting from its bankruptcy to shutting down 37,000 mining rigs of Celsius, the financial woes of the miners have piled on. Now, the possibility of “securities fraud” is beginning to surface. A recent report by Culper Research points out that Core Scientific has “widely oversold” mining businesses. During an investigation to see if the Bitcoin miner was part of any form of “ securities fraud and other unlawful business practices” , Culper Research made several discoveries. The securities class action firm Pomerantz LLP instigated the investigation. The firm accused the mining organization of overselling, not just its mining platforms but also its hosting business in 2021. Throughout 2022, multiple instances have highlighted a plummet in the firm’s stocks. Officials at Core Scientific reportedly “abandoned all pretense of care fo...