The Bitcoin Mining Council (BMC) reported significant strides in sustainable power usage and technological efficiency in Bitcoin mining, according to the findings of its survey for the first half of 2023. These findings underscore the growing focus on ecological responsibility within the Bitcoin industry, a narrative that merges technological advancement with sustainability. BMC statistics H1 The post 63% renewable energy used by Bitcoin Mining Council making up 43% of global mining network appeared first on CryptoSlate.

Riot, a key player in the Bitcoin mining sector, reported overall revenue of $76.7 million in its financial results for the quarter ending June 30, 2023. This result underscores Bitcoin miner resilience in an unpredictable market, with a significant part of its achievement attributed to a 27% increase in Bitcoin production, as opposed to the The post Riot spends just $8.3k to mine 1 BTC as it looks to triple production by 2025 appeared first on CryptoSlate.

Core Scientific, one of North America’s largest crypto mining companies, recently filed an updated restructuring plan in its Chapter 11 bankruptcy case. The comprehensive plan involves major crypto-native companies Anchorage Digital and Bitmain taking equity stakes in Core Scientific. Core Scientific restructuring plan According to the restructuring plan, Core Scientific has reached an agreement in The post Bitmain, Anchorage Digital eye equity stake in Core Scientific comeback from bankruptcy appeared first on CryptoSlate.

A class action complaint, recently filed on Aug. 7, implicates several venture capital firms, painting a grim picture of alleged gross financial mismanagement and deceptive practices. The plaintiffs, representing a class of impacted investors, allege that the group assured customers that their assets belonged solely to them and would not be transferred to FTX. Multinational The post VCs firms face class action amid allegations of abetting FTX fraud appeared first on CryptoSlate.

A new class action lawsuit makes severe allegations that high-profile Silicon Valley law firm Fenwick & West actively helped conceal and enable fraud by the collapsed cryptocurrency exchange FTX and its founder Sam Bankman-Fried. Filed in federal court on Aug. 7, the suit claims Fenwick had an “exceedingly close” relationship as legal counsel to FTX The post FTX lawfirm hit with class action over alleged role in FTX cover up appeared first on CryptoSlate.