#USBTC

[coinatory]

USBTC to Host 8,500 Bitcoin Miners from Distressed Crypto Lender Celsius as Part of Larger Deal

US Bitcoin Corp (USBTC), a data center operator, has confirmed that it will house 8,500 Bitcoin mining machines from the financially troubled crypto lending firm, Celsius. This will take place at USBTC's Alpha Site, according to a press release dated August 31. These mining machines are anticipated to deliver a combined hashrate of around 820 petahash. This housing deal is just a component of a larger agreement, which might result in USBTC overseeing up to 310,000 Bitcoin miners. These would be owned by Celsius and other clientele including Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D. Earlier in May, USBTC along with its partners in the Fahrenheit LLC consortium, successfully bid to manage Celsius' assets, which include a lending portfolio and roughly 122,000 mining machines. USBTC will take charge of

Read more on USBTC to Host 8,500 Bitcoin Miners from Distressed Crypto Lender Celsius as Part of Larger Deal

[coinmystique]

A Canadian court docket has permitted the merger of BTC mining firms Hut 8 (NASDAQ: HUT) and US Bitcoin Corp. (USBTC).The Supreme Courtroom of British Columbia issued the ultimate order approving the merger on Monday, bringing the 2 firms nearer to forming a brand new entity: Hut 8 Corp or New Hut.The 2 firms will merge in an all-stock association, with the brand new firm to be domiciled in the US. As CoinGeek reported in February, the brand new entity might be listed on each the Nasdaq and the Toronto Inventory Change, with an estimated market capitalization of $990 million.Following the approval in Canada, the 2 firms now await the registration of New Hut within the U.S. and the approval of USBTC shareholders. The 2 have filed their software for approval with the SEC, which should difficulty its clearance earlier than the brand new entity could be registered.Hut 8 shareholders voted overwhelmingly in favor of the merger per week in the past. 97% of the shareholders permitted the association, with 95% and 87% voting in favor of the issuance of New Hut shares and the motivation plan, respectively.“I am so grateful that our shareholders have overwhelmingly approved the Transaction: this successful vote is noteworthy because it reflects how engaged and supportive they are of our Merger of Equals,” commented Hut 8 CEO Jaime Leverton.The merger is anticipated to shut in This autumn of 2023.New Hut might be one of many largest miners in North America, with a mixed 825 MW of power throughout six mining websites. The brand new firm will double down on BTC block reward mining, however it can additionally diversify into different companies, together with internet hosting and infrastructure administration. It should have services in Texas, Nebraska, and New York within the U.S. and Alberta in Canada, with a mixed workforce of 210 staff.The merger comes on the again of one of many hardest durations for block reward miners. An prolonged ‘crypto’ bear market and the collapse of some key companions and financiers have pushed the miners to the restrict. Many have buckled and imploded, from Compute North to Core Scientific (NASDAQ: CORZW).Hut 8 has not been resistant to the robust instances. In Q2, the corporate recorded a $9.2 million loss as income dipped 56% from an identical interval final yr. It blamed its woes on the rise in common BTC community problem and the shutdown of its mining facility in North Bay, CanadaWatch: Gorilla Pool supplies finish to finish resolution for ASIC mining[embed]https://www.youtube.com/watch?v=8KOMZOqlNSo[/embed] width=”562″ peak=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>New to blockchain? Take a look at CoinGeek’s Blockchain for Newcomers part, the last word useful resource information to study extra about blockchain expertise.Supply: https://coingeek.com/canadian-court-approves-btc-miner-hut-8-merger-with-usbtc/!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','992624061882522');fbq('track','PageView');

[bitcoincables]

Marathon Digital Takes Full Control of Bitcoin Mining Sites from Hut 8

Marathon Digital Holdings has agreed to pay Hut 8 a termination fee of $13.5 million to take full operational control of its recently acquired bitcoin mining sites in Granbury, Texas, and Kearney, Nebraska 🏭. Marathon plans to replace Hut 8 as the operator of the sites by April 30, while Hut 8 will continue to provide managed services and conduct self-mining activities in the meantime 💼. The termination of the contract is expected to reduce Marathon's operating fees and improve its production cost to mine bitcoin at the sites 💰.

Marathon closed the deal to acquire ownership of the sites from Generate Capital for $178.6 million on January 16. However, Hut 8 continued to manage operations at the sites until the termination of the contract. Hut 8 inherited the service agreement following a merger with USBTC last year. The contract still had a term of more than four years to go, valued at $1.2 million per month. Subsidiaries of Marathon and Hut 8 agreed to terminate the contract on January 30 and transition operational responsibilities to Marathon ✍️.

"By operating the sites in Granbury and Kearney ourselves, we will be able to fully recognize the operational and economic benefits of owning these assets," said Marathon Chairman and CEO Fred Thiel. "We look forward to gaining more influence over our new sites in Texas and Nebraska and leveraging our operational expertise to realize the full benefits of our recent acquisition." 🤝

To read more about this story, click here.

MarathonDigital Hut8 bitcoinmining cryptocurrency

[claudiaschiffersblog]

Акції біткоїн-майнера Hut 8 впали на 23% на тлі звинувачень у "накачуванні та скиданні"

18 січня ціна акцій майнінгової компанії Hut 8 впала більш ніж на 23%, того ж дня, коли фірма подзвонила в дзвін відкриття Nasdaq. Падіння котирувань відбулося через неперевірений звіт, у якому стверджувалося, що інсайдери готуються продати акції Hut 8. Ціна акцій Hut впала з $9,30 до $7,10 після закриття торгів. Розпродаж почався приблизно в той самий час, коли активістська фірма JCapital Research, що займається короткими продажами, опублікувала звіт під назвою "The Coming HUT Pump and Dump", в якому стверджувалося, що злиття компанії 30 листопада 2023 року з іншим майнером біткойнів US Bitcoin (USBTC) може наразити інвесторів Hut 8 на небезпеку. JCapital Research, яка визнає, що на своєму вебсайті упереджено ставиться до коротких продажів, націлилася на нещодавню угоду зі злиття на суму 725 мільйонів доларів, заявивши, що в USBTC були "юридичні проблеми" і що більшість акцій нещодавно об'єднаних майнерів біткойнів належать "нерозкритій афілійованій стороні". "Ми виявляємо, що USBTC підтримується промоутерами, які мають проблеми із законом. За час свого недовгого існування USBTC, судячи з усього, допустила дефолт за кредитом і виплатила два державні штрафи, один з яких - за порушення правил цінних паперів", - пише JCapital. Крім того, JCapital заявив, що генеральний директор USBTC Майкл Хо - нині головний стратегічний директор Hut - приховував свої стосунки з промоутерами акцій під назвою Honig Group, яку Комісія з цінних паперів і бірж США 2019 року звинуватила в участі в "класичному накачуванні та скиданні" і "шахрайських схемах". Honig Group тоді врегулювала звинувачення і погодилася на заборону на торгівлю дешевими акціями. "Зрештою, ми твердо переконані в тому, що акціонери HUT, найімовірніше, відчують біль від того, що опинилися на неправильній стороні в надмірно закредитованих накачуваннях і скиданнях, тільки для того, щоб залишитися у володінні найнеефективнішим біткойн-майнером, який є збитковим навіть якщо ціна біткойна перевищує 60 000 доларів", - ідеться у звіті. Публікація одразу ж викликала реакцію на X (раніше Twitter). "Неможливо перевірити короткий звіт, - зауважив один із членів криптоспільноти X (раніше Twitter), Cantonese Cat, у повідомленні від 18 січня. - Багато хто продає в паніці. Це може бути реальністю, це може бути паніка". Звіт надійшов того самого дня, коли генеральний директор Hut Джеймі Левертон зателефонував у перший дзвінок у штаб-квартирі Nasdaq у Нью-Йорку. За словами фірми, це було зроблено, щоб "відсвяткувати завершення злиття всіх акцій" Hut 8 і USBTC. На відміну від багатьох криптомайнерів, змушених продати хоча б частину своїх видобутих біткоїнів через ринкові перешкоди (зокрема, Core Scientific і Riot Blockchain), Hut 8 продовжує збільшувати свої запаси біткоїнів, видобутих самостійно. У заяві від 5 січня Hut повідомила, що в грудні 2023 року вона видобула 453 біткоїни, унаслідок чого її резерви становили загалом 9 195 BTC, що становить 377 мільйонів доларів США в поточних цінах. Read the full article

[ailtrahq]

North American digital asset miner Hut 8 revealed that it mined 111 Bitcoin in September, or an average production rate of approximately 3.7 Bitcoin a day. This brings the total of self-mined BTC reserves to 9,366, an 8% increase over the previous month. Growing reserves At the time of writing, Bitcoin currently sits just above $27,000, making the total reserve amount $258 million. Despite showing growth between months, the amount of Bitcoin mined is down year-over-year, although numbers are comparable to earlier this year where 147 Bitcoin were reported mined in May at the same time 179 BTC were sold. Alongside the production report, Hut 8 reports a hashrate capacity in Hut 8’s Alberta facilities as being 2.6 EH/s towards the end of the month, with production marked at 42.7 BTC/EH. The press release also reports that no Bitcoin was sold during the month of September, suggesting a holding strategy. The merger of equals This news follows the earlier announcement in February that Hut 8 and USBTC entered a “merger of equals” deal to create the entity Hut 8 Corp, in an agreement that would give the miner access to more energy. [embed]https://www.youtube.com/watch?v=QmA4WvohMSQ[/embed] While the press release reports the merger is a success, the rest of the bitcoin mining industry continues to share news of advancements in renewable energy, as part of a larger trend to limit the environmental impact of miners.

[coinatory]

British Columbia Supreme Court Approves Merger Between Hut 8 and USBTC

The British Columbia Supreme Court has given the final judicial green light for the merger between Canadian Bitcoin mining heavyweight Hut 8 and U.S. Bitcoin Corp (USBTC), set to be finalized by the end of the year. This merger is expected to significantly influence both Bitcoin mining and the field of high-performance computing. Earlier this year, both companies announced plans to merge, subject to approvals from regulatory bodies and shareholders. The judicial approval was granted on September 18, clearing the last major legal hurdle. The emerging entity, provisionally dubbed "New Hut," will be a publicly traded U.S. company that aims to significantly affect both Bitcoin mining and high-performance computing. It plans to operate with a capacity of 825 megawatts across six dedicated Bitcoin mining and data center sites,

Read more on British Columbia Supreme Court Approves Merger Between Hut 8 and USBTC

[coinmystique]

The merger between Hut 8 and USBTC isn't just a major occasion throughout the crypto house, it additionally holds nice promise for buyers and the broader monetary markets.In a current improvement, Hut 8 Mining Corp (NASDAQ: HUT) has obtained remaining approval from the British Columbia Supreme Courtroom for its merger with US Bitcoin Corp (USBTC).The Journey to Merger Between Hut 8 and USBTCThe merger between Hut 8 and USBTC was first introduced in February 2023, marking a pivotal second within the crypto house. Nevertheless, this momentous union was not with out its share of hurdles. To deliver this merger to fruition, each firms needed to navigate a posh internet of shareholder approvals and regulatory processes.Following remaining approval from the Supreme Courtroom of British Columbia, this merger is about to reshape the panorama of Bitcoin mining, paving the best way for Hut 8 to transition right into a publicly traded United States-based entity often called Hut 8 Company, or “New Hut”.One of the crucial thrilling facets of this merger is the large improve in mining capability it is going to deliver. The mixed forces of Hut 8 and USBTC will unleash a staggering 825 megawatts of capability throughout a number of services. This immense computing energy is a testomony to the dimensions of their operations and highlights their dedication to Bitcoin mining.Acquiring the ultimate approval from the Supreme Courtroom of British Columbia is not any small feat. It underscores the meticulous regulatory diligence performed by each Hut 8 and USBTC. This merger will deliver collectively two entities which have demonstrated their dedication to compliance and adherence to authorized requirements. Such dedication units a constructive instance for the broader crypto trade, which has typically grappled with regulatory considerations.Whereas the Supreme Courtroom’s approval marks a major milestone, there are nonetheless a number of hurdles to leap via. Maybe probably the most essential of those is the approval of USBTC shareholders. Their endorsement shall be pivotal in figuring out the merger’s destiny.Moreover, as with all complicated enterprise transaction, varied administrative and logistical particulars should be ironed out to make sure a seamless transition. As of now, Hut 8 anticipates that the ultimate transaction confirming the merger and the creation of New Hut will seemingly happen earlier than the top of 2023.Formidable Plans for a Twin ItemizingThe merger between Hut 8 and USBTC isn't just a major occasion throughout the crypto house, it additionally holds nice promise for buyers and the broader monetary markets. Upon completion of the merger, the newly fashioned entity, “New Hut”, has bold plans to record its shares on each the Nasdaq and the Toronto inventory exchanges with plans to commerce underneath the ticker image “HUT”.To take part within the new enterprise and obtain shares of New Hut widespread inventory, shareholders might want to full and submit transmittal letters.Apart from the merger and itemizing plans, Hut 8 has not too long ago undertaken a major hardware relocation effort. Roughly 6,400 ASIC mining rigs have been moved from its inactive facility in North Bay, Ontario, to the state of Texas in the US.This strategic transfer was pushed by the rising demand for Synthetic Intelligence (AI) and high-performance computing capabilities.subsequentBlockchain Information, Enterprise Information, Cryptocurrency Information, Offers Information, Information Benjamin Godfrey is a blockchain fanatic and journalist who relishes writing about the actual life functions of blockchain expertise and improvements to drive normal acceptance and worldwide integration of the rising expertise. His want to coach individuals about cryptocurrencies evokes his contributions to famend blockchain media and websites. Thanks!You've gotten efficiently joined our subscriber record.

[virtualcurrencyspace]

Multi Year Agreements For Bitcoin Mining Machines

U.S. Bitcoin Corp (USBTC) has signed multi-year agreements to host 150,000 bitcoin mining machines with major firms including Marathon Digital Holdings (MARA), the firm told CoinDesk.

The deals showcase the apparent rebound in the mining industry, which is trying to rise after a rough 2022. Last year's crypto downturn led to a lot of major miners going bankrupt, including Compute North, which was originally running the three USBTC sites.

The three bitcoin mines are in Kearney, Nebraska, as well as Granbury and Upton County, Texas. Energy investment firm Generate Capital bought Compute North's stake in two of the sites, one in Nebraska and one in Texas, whereas the Upton County facility is owned and operated in a 50-50 joint venture with NextEra Energy (NEE).

[bitrss-news]

#Crypto #News:

Bitcoin Miner Hut 8 Talks Operational Issues and USBTC Merger in Earnings Call The Canadian mining firm has pulled 7,000 machines from a site due to litigation and is troubled by "electrical issues" at another site. https://t.co/ak28H4utOL

— BitRss News (@RssBit) Mar 9, 2023

[gjupdates]

Bitcoin Miner BitNile Pulls 6,500 Rigs From Former Compute North Site

[ad_1] The miner signed a hosting deal with bankrupt Compute North in September for a site that is now managed by USBTC. [ad_2] Source link

[moneygigs]

Bitcoin Miner BitNile Pulls 6,500 Rigs From Former Compute North Site

The miner signed a hosting deal with bankrupt Compute North in September for a site that is now managed by USBTC. Source link

[marketingstrategy1]

Bitcoin Miner BitNile Pulls 6,500 Rigs from former Compute North Site

The miner signed a hosting deal with bankrupt Compute North in September for a site that is now managed by USBTC. #Bitcoin #Miner #BitNile #Pulls #Rigs #Compute #North #Site

[ailtrahq]

Canadian Bitcoin mining entity Hut 8 has maintained a steadfast approach towards its Bitcoin (BTC) accumulation, even amidst the unfolding chapters of its merger with US Bitcoin (USBTC). In its October 10 announcement, the company disclosed that it mined 111 Bitcoin in September 2023, elevating its self-mined BTC reserves to a robust 9,366 Bitcoin. Hut 8 Maintains Hodl Amid Mining Dip Despite a notable decrease in mining volumes, Hut 8 staunchly maintains its hodl strategy, enduring a 60% monthly mining reduction. From 277 BTC in September 2022, it dropped to 111 BTC in September 2023, showcasing a significant decline in the company’s mining pace. Nevertheless, the firm abstained from selling any Bitcoin in the past month, solidifying its stance as one of the predominant holders of self-mined BTC among publicly traded entities. On September 30, Hut 8 reported a total Bitcoin reserve of 9,366, with 7,269 of them being unencumbered. This strategy stands in sharp contrast to other crypto miners such as Core Scientific and Riot Blockchain. These companies have chosen to sell portions of their mined Bitcoin due to tough market conditions. Additionally, Hut 8 has steadily augmented its Bitcoin stash, holding about 8,000 BTC in its reserves as of September 2022. Shareholders Back Hut 8, USBTC Union Hut 8 and USBTC have been navigating through their merger deal, announced in February 2023, with notable success. The transaction is anticipated to forge a new Bitcoin mining entity named Hut 8 Corp or “New Hut.” Consequently, in September 2023, the merger received the final nod from the Supreme Court of British Columbia, paving the way for the amalgamation of the two entities into a formidable mining business. Hut 8 CEO Jaime Leverton expressed gratitude towards shareholders, who showcased overwhelming support by voting in favor of the merger. He mentioned that the recent approval from the Canadian court pushes the company to establish the New Hut hub. Moreover the envision will have a wide variety of fiat revenue sources. After the recent update, Hut 8’s stock rose by 2.50%, trading at $2.00 with a 24-hour volume of $6,141,138. Read Also: Alameda and Cumberland Dominate USDT Market, With 70% Of All Coins Ever Issued

[thepoolscene]

The Pool Scene - James Aranas - US Open

New Post on http://thepoolscene.com/?p=22750

Van Boening Earns Fifth US Bar Table 9-Ball Champion title

CueSports International, Henderson, NV (Dec. 14, 2017) — Shane Van Boening of South Dakota added a fifth US Bar Table 9-Ball Championship to his resume Thursday at the Westgate Las Vegas Resort & Casino, beating James Aranas of the Philippines in the finals, 9-2.

  Van Boening went into the finals undefeated, posting wins over: Abrin Schaad, 9-6; Ernesto Dominguez, 9-3; Oscar Dominguez, 9-7; Billy Stephan, 9-1 and Mitch Ellerman, 9-4. Van Boening beat Aranas to earn the hot seat, 9-7.

  Aranas’ path to the finals included beating: Donald Weatherby II, 9-3; Jeremy Edwards, 9-7; Jason Klatt, 9-6; Sky Woodward, 9-8; and Amar Kang, 9-7. After losing the hot seat match, Aranas beat Jesse Engle, 9-2, to earn a place in the finals.

  Van Boening kept control in the final match from the start, jumping out to a 4-2 lead. In the seventh rack, the players traded safeties until a kick by Van Boening left the one ball open for Aranas, who then uncharacteristically missed a six ball to let Van Boening back to the table. They traded safeties again until Aranas made a good hit on the seven ball and then scratched, giving Van Boening the game. Van Boening then broke and ran, to go up 6-2. Aranas scratched again in the next rack, giving up another game. Van Boening broke and ran again, then ran out the final rack after Aranas broke dry.

Van Boening, player representative for the USA Pool League, previously won the 9-Ball Division at the US Bar Table Championships in 2015, 2014, 2013 and 2010. On Tuesday, Van Boening earned second place in the 10-Ball Division.

  Payouts:

1. Shane Van Boening           $3,500

2. James Aranas                      $2,100

3. Jesse Engel                           $1,400

4. Amar Kang                           $900

5. Mitch Ellerman                   $600

6. Shaun Wilkie                       $600

7. Josh Smith                            $400

8. Sky Woodward                                     $400

9. Ernesto Dominguez           $225

10. Billy Stephan                     $225

11. Demetrius Jelatis             $225

12. Abrin Schaad                     $225

13. Mark Wissman                $150

14. Vinnie Calabrese              $150

15. Oscar Dominguez            $150

16. Dave Strachan                  $150

  In the Women’s Division, Jessica Frideres added the title of USBTC 9-Ball Division Champion to her resume, to complete a trifecta of USBTC titles. Frideres, of Fort Dodge, Iowa, won the USBTC 8-Ball Division in 2013, and the USBTC 10-Ball Division in 2016. Frideres’ went into the finals undefeated, having bested Molly Oliver, 7-3 and Rachel Lang, 7-5, before beating Heather Cortez for the hot seat.

  Cortez’s path to the finals included wins over: Trinh Lu, 7-4; Amanda Stevens, 7-1; and Rhonda Moses, 7-1, before Frideres sent her to the B-side of the bracket. Cortez then beat Trinh Lu, 7-4, to earn her place in the finals.

  But Cortez’s efforts in the finals weren’t enough to beat Frideres, who beat Cortez 7-3 to earn the title.

  Payouts: 1. Jessica Frideres, $825; 2. Heather Cortez, $425; 3. Trinh Lu, $250

  The 24th US Bar Table Championships kicked off Sunday at the Westgate Las Vegas Resort & Casino. The 8-Ball began Thursday and continues through Saturday, Dec. 16.

#gallery-1 margin: auto; #gallery-1 .gallery-item float: left; margin-top: 10px; text-align: center; width: 50%; #gallery-1 img border: 2px solid #cfcfcf; #gallery-1 .gallery-caption margin-left: 0; /* see gallery_shortcode() in wp-includes/media.php */

[coinmystique]

USBTC to host 8,500 miners belonging to Celsius at its Alpha Website.Hashrate of those machines is estimated to be 820 petahash (PH).Us Bitcoin Corp expects to be managing over 310,000 miners in whole.US Bitcoin Corp is in focus in the present day after the mining firm introduced a cope with the bankrupt cryptocurrency platform Celsius Community.USBTC is part of Fahrenheit consortiumThe information centre operator stated in a press launch this morning that it's going to host 8,500 miners belonging to the now defunct crypto lender at its Alpha Website.Notice that USBTC is a member of the Fahrenheit consortium that took over Celsius property in Might. In keeping with Asher Genoot – the President of US Bitcoin Corp:Alternative to handle Celsius property marked a defining milestone … We envision a future the place Bitcoin mining is not only worthwhile however sustainable and business advancing.On the time, the stated property which included greater than 120,000 miners have been valued at about $2.0 billion (discover out extra).USBTC to handle greater than 310,000 minersHashrate of the machines that US Bitcoin Corp plans on internet hosting at its Alpha Website is estimated to be 820 petahash (PH). Genoot additionally stated within the press launch in the present day:We’re embarking on a brand new chapter. The synergy between USBTC, Celsius, and Fahrenheit represents our dedication to redefining the mining business.USBTC now expects to be managing over 310,000 miners in whole together with its personal machines in addition to these of shoppers like Marathon Digital, Sphere 3D, Teslawatt, Foundry USA, and Decimal Group.The information arrives solely days after Hut 8 Mining issued an replace on its in-process merger with Hut 8 Mining.Share this textClassesTagsSupply: https://coinjournal.internet/information/us-bitcoin-corp-deal-with-celsius-network/

[virtualcurrencyspace]

Bitcoin Mining Firms Merge

Bitcoin mining firms Hut 8 Mining (HUT) and U.S. Bitcoin Corp. (USBTC) agreed to merge, forming a company with access to about 825 megawatts (MW) of energy capacity.

The two firms will be wholly owned subsidiaries of the newly formed Hut 8 Corp. Shareholders of the two will each own about 50% of the merged company, they said in a Tuesday press release.