Bitcoin

Bitcoin mining company <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/" rel="noopener noreferrer nofollow">CleanSpark</a> announced that it will terminate its colocation contract with Coinmint by January 2025. The decision stems from higher <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">energy costs</a> for hosted miners compared to the company's own facilities.
Reports indicate that the energy cost for hosted miners was $0.065 per kWh, while CleanSpark's own facilities pay $0.048 per kWh. This reduces operational profitability and impacts the company's earnings.
CleanSpark plans to focus on expanding its proprietary infrastructure and increasing mining efficiency. This move is expected to reduce operational expenses and enhance competitiveness in the market.

CleanSpark to End Coinmint Hosting Contract Due to High Bitcoin Mining Costs

Ultramining_Eng

Other articles published on Oct 7, 2024

PayPal to Enable Crypto For US Business Accounts: Buy, Sell, Hold and Transfer

Polkadot Price Prediction: Will DOT Price Crash to 0?

NYSE6900—The Future of Meme Stocks is Here!

JUST IN: Fake News Spread About Who Satoshi Nakamoto Is, Explanation Arrives

Coinpedia Fintech News

Prediction markets like Polymarket a ‘public good,’ more accurate than polls

Join our free newsletter for daily crypto updates!