News list for " mining business"
Stronghold Digital, which violated energy market rules while prioritizing bitcoin mining, agreed to pay more than $1.40 million in fines and refunds. Stronghold had a contractual obligation to provide usable power to the PJM grid to help ensure the reliability of the grid. However, the FERC's Office of Enforcement determined that Stronghold failed to meet this obligation between June 2021 and May 2022 and instead diverted power to its bitcoin mining operations.
Northern Data AG is studying the possibility of selling its crypto mining business to free up funds to expand its artificial intelligence business. Northern Data, whose main shareholder is stablecoin issuer Tether Holdings Ltd., said in a statement Monday that it will use the proceeds from the sale of Peak Mining to focus on its artificial intelligence solutions division. Affected by this news, Northern Data's share price rose by 12% at one point, and as of 12:06 pm Frankfurt time, the share pri...
Cathedra Bitcoin, the Canadian bitcoin miner, is shutting down its seven-year-old mining operation in favour of a new strategy: buying as many bitcoins as possible on the open market, as MicroStrategy has done. In its "Bitcoin Financial Strategy Memorandum" on September 16, Cathedra explained that its new plan would move "all capital allocation decisions" towards maximising the company's per-share bitcoin reserves - what many of its largest shareholders consider "the most important" metric. With...
