HIVE, MARA mine more Bitcoin but earn less as crypto prices fall
Both miners reported higher Bitcoin production but lower mining revenue and rising electricity costs as they expanded their AI infrastructure businesses.
1 source low confidence
Live · updated 4h ago
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US Federal Reserve cuts rates in December
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Controlled tests found that permission for routine chores could carry into simulated high-stakes tasks, with effects varying by model. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next.
Both miners reported higher Bitcoin production but lower mining revenue and rising electricity costs as they expanded their AI infrastructure businesses.
MARA posted a $634.4 million Q3 net profit, then sold 13,597 BTC to repay $750 million in loans as it pivots to AI.
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Bitmine bought another 9,587 ETH last week, closing in on its target of 5% of Ethereum's circulating supply.
The $24 billion project, which includes an AI supercomputer in Texas with its own gas-fired power plant, is about 17 times the value of SpaceX's bitcoin holdings.
Bitcoin fell toward $75,500 after AI stocks plunged, and over $1 billion in the crypto derivatives market has been wiped out.
Thursday marked a massive reversal and historic selloff for AI stocks, and crypto was not immune. What held up the strongest?
Zcash's latest upgrade promises faster transactions, but thousands of coins remain in an aging privacy system that will soon stop accepting withdrawals, potentially leaving their owners empty-handed.
