Cryptocurrency Mining
Ongoing coverage on Cryptocurrency Mining.
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Intchains pauses Ethereum accumulation to fund new mining ASIC and AI push
Intchains Group has halted its Ethereum accumulation strategy due to a 94% revenue decline, shifting focus to developing new mining ASICs and exploring AI opportunities. The company reported first-half revenue of $1.6 million, with most of it from offloading inventory. Despite the operational challenges and a significant net loss, Intchains has sufficient cash reserves to fund its new initiatives.
Seven Years Dark: Inside Moscow’s Bitcoin Mining Shutdown
Moscow has banned cryptocurrency mining, including participation in mining pools, until December 31, 2032, citing the need to prevent power-capacity shortfalls. This decision impacts a significant portion of Bitcoin's global hashrate originating from Russia. The ban occurs amidst discussions of using domestically mined Bitcoin for international payments to circumvent Western sanctions, a move previously targeted by U.S. sanctions against firms like BitRiver.
HIVE posts ~$79M in Q2 revenue — then delays its 10-Q over Sweden’s SEK 765.6M VAT claim
HIVE Digital Technologies reported preliminary Q2 revenue of approximately $79 million, a significant increase from the previous year, driven by higher Bitcoin rewards and a new high-performance computing contract. However, the company has delayed its financial filings due to an unresolved Swedish VAT claim of SEK 765.6 million, which is expected to result in a substantial non-cash accrual and potentially significant operating and net losses.
Zero revenue, 35 crated rigs and 1.65 billion new shares: how MGT is buying time
MGT is facing significant financial challenges, with zero revenue in the first half of 2026 and a substantial working-capital deficit. The company has issued billions of new shares to stay afloat, leading to severe dilution for existing shareholders. Its cryptocurrency mining operations have ceased, and its mining facility has been sold, leaving only 35 inactive mining rigs.
MARA Dumped 91% of Its Q2 Mining Output, Then Staked 18,750 BTC on an AI Data-Center Bet It Won’t Fully Explain
MARA Holdings sold 91% of its second-quarter Bitcoin mining output and then leveraged 18,750 BTC as collateral for new debt to fund the purchase of a power generation site for AI workloads. The company secured $750 million in loans from Coinbase and Two Prime, but the exact amount of unrestricted Bitcoin remaining and the liquidation price are not disclosed, creating significant financial risk.
American Bitcoin’s 8,002 BTC Stack Comes With Strings Attached: 3,090 Coins Pledged to Bitmain
American Bitcoin holds 8,002 BTC, but 3,090 coins are pledged to Bitmain under miner-purchase agreements, representing a $371.687 million liability. While the company mined 932 BTC in Q2, its operations consumed $63.795 million in cash, with equity financing playing a central role in liquidity. Despite a GAAP net loss of $57.151 million, much of it is non-cash accounting, with operating cash used at $63.795 million.
