ChainCatcher news, according to Chainwire, the decentralized protocol Prosper announced that its native project token PROS has received investment from the crypto mining company BIT Mining, with the specific amount not disclosed.It is reported that the Prosper protocol aims to connect institutional-grade Bitcoin mining capabilities to the blockchain, with the goal of unlocking the potential of Bitcoin through liquidity mining.

ChainCatcher news, the crypto mining company IREN (formerly Iris Energy) is facing a class action lawsuit from investors, accusing it of misleading investors regarding its high-performance computing business.On October 7, a class action lawsuit led by Paul Williams-Israel was filed in federal court in New York, claiming that IREN's facility in Childress, Texas was falsely advertised as a data center suitable for high-performance computing (HPC) and exaggerated its computing capabilities. The lawsuit also pointed out that there was significant misinformation in the expansion plans and HPC strategy released by IREN in a statement in June 2023.IREN's co-founders and co-CEOs Daniel Roberts and William Roberts, as well as the company's CFO Belinda Nucifora, are all named as defendants.

ChainCatcher news, according to MinerMag, Australian crypto mining company Iris Energy announced that it has raised $413.4 million through stock issuance since mid-May. This funding will be used to fully support the company's expansion plans for 2024 following the Bitcoin halving event, aiming to achieve a growth plan for 2024 (including a hash rate of 30 EH/s and a data center capacity of 510 MW). This financing was completed through the company's market offering (ATM) plan from May 15 to June 28, selling a total of 39.8 million shares.In addition to the previously raised funds, Iris Energy has raised approximately $714 million in the first half of this year, which includes $257 million in equity financing in the first quarter and an additional $44.8 million from March 31 to May 15.

ChainCatcher news, cryptocurrency mining company HIVE Digital Technologies announced an 8% year-over-year increase in revenue, reaching $114.5 million, which is about $2.7 million higher than analysts' expectations.HIVE's net loss for the fiscal year 2024 was $51.2 million, compared to a net loss of $236.4 million in the previous year. As of March 31, 2024, the company held 2,287 bitcoins, currently valued at $141 million.Previous news, cryptocurrency mining company HIVE Digital completed a $21.78 million private placement financing.

ChainCatcher news, according to Bitcoin.com, the Paraguayan Bitcoin mining industry has responded to the National Electricity Administration (ANDE) participating in the closure of several illegal Bitcoin mining sites. Bruno Vaccotti, the public affairs director of the Bitcoin mining company Penguin, revealed the existence of three "vulture contracts," which have slowed the development of the Bitcoin mining business in Paraguay.In a radio interview, Vaccotti acknowledged that illegal mining operations have harmed ANDE's revenue, but he criticized the agency's statements regarding Bitcoin mining activities. He stated that Penguin pays $850,000 in electricity bills each month, which is nearly 50% of the $2 million loss that ANDE claims is caused by illegal crypto mining."Vulture contracts" are agreements signed by ANDE with other undisclosed third-party Bitcoin miners, affecting the electricity supply to new mining sites and causing losses to the country. Vaccotti noted that these energy-intensive contracts are often signed by foreign investors seeking speculation.The energy allocated to these parties is prevented from being used for these operations, thereby harming the potential for legitimate Bitcoin mining investors to utilize the energy involved. Vaccotti emphasized that this could have a greater impact than the illegal activities that ANDE is currently investigating.

ChainCatcher news, crypto mining company Hut 8 announced a strategic investment of $150 million from Coatue, and the two parties will collaborate to build an artificial intelligence infrastructure platform.Coatue has agreed to invest $150 million in the company through convertible notes, with an annual interest rate of 8.00% (compounded quarterly). The initial term of the notes is five years, and the company has the option to extend it for up to three additional one-year terms. The issuance of the notes is expected to be completed on or before July 11, 2024.

ChainCatcher news, 10x Research stated in its strategic report "The Bitcoin Mining War Intensifies------How to Participate?" that it believes Bitfarms is a major beneficiary of the ongoing consolidation in the Bitcoin mining industry. While cryptocurrency mining stocks (such as Bitfarms) may rise further, there is a greater inclination to invest under the potential bullish trend of Bitcoin. Although MicroStrategy announced plans to privately issue $500 million in convertible senior notes to purchase more Bitcoin, the market reaction has been relatively calm, unlike in the fourth quarter of 2023 and the first quarter of 2024, when such news led to a noticeable increase in retail speculation and rising funding rates.

ChainCatcher news, according to Decrypt, New York Attorney General Letitia James has filed a lawsuit against two cryptocurrency companies suspected of fraud in the state, accusing them of deceiving hundreds of thousands of investors, with the amount involved exceeding $1 billion.The companies being sued include the cryptocurrency exchange NovaTech and the mining company AWS Mining, which are accused of "engaging in illegal pyramid schemes," having stolen over $1 billion in cryptocurrency from investors, including 11,000 New Yorkers. Letitia James stated that she would ban these two companies from operating in New York and vowed to crack down on cryptocurrency fraudsters.AWS Mining and its promoters (including Panama residents Cynthia and Eddy Petion) had promised investors high returns through cryptocurrency mining operations, but in reality, the company could not sustain the promised returns in the long term and ultimately collapsed in 2019. Afterward, the Petion couple launched NovaTech, continuing to use similar strategies to attract customers, but the profits for investors were actually generated from the funds of new investors. Prosecutors revealed that the platform only processed $26 million in cryptocurrency transactions from 2019 to 2023.

ChainCatcher news, North American Bitcoin mining and hosting service provider Core Scientific announced that it has signed a series of 12-year contracts with AI super-scale company CoreWeave. The agreement is expected to generate an average annual revenue of approximately $290 million, with total cumulative revenue exceeding $3.5 billion over the 12-year period.According to the contract, CoreWeave will fund all capital investments required to modify Core Scientific's existing infrastructure. To offset costs, CoreWeave plans to provide Core Scientific with a loan of approximately $300 million, which will be gradually deducted from its monthly hosting fees.

ChainCatcher news, according to The Block, U.S. President Biden has ordered the prohibition of a Chinese-controlled cryptocurrency mining company, MineOne Partners Limited, from owning land near a nuclear missile base in Wyoming, and has requested the divestment of related assets.The U.S. Department of the Treasury stated that MineOne acquired a property just one mile from Francis E. Warren Air Force Base in June 2022 and renovated it to accommodate cryptocurrency mining operations. The Committee on Foreign Investment in the United States (CFIUS) determined after review that the transaction posed national security risks, including potential use for surveillance.Treasury Secretary Yellen stated that this move demonstrates the Biden administration's strong commitment to protecting U.S. national security and emphasizes the critical gatekeeping role of CFIUS in ensuring that foreign investments do not harm U.S. national security, especially in transactions involving sensitive military facilities and special equipment and technology.

ChainCatcher news, cryptocurrency miner Bitfarms has announced the immediate dismissal of CEO Geoffrey Morphy. Bitfarms Chairman and Co-Founder Nicholas Bonta has been appointed as interim President and CEO.On May 10, Geoffrey Morphy filed a lawsuit against the company in the Ontario Superior Court, seeking damages for breach of contract, wrongful dismissal, and aggravated and punitive damages in the amount of $27 million.

ChainCatcher news, cryptocurrency mining company Core Scientific reported on Wednesday that it mined 2,825 bitcoins in the first quarter of 2024 (worth over $175 million at current prices).The company also reported a net profit of $210.7 million, compared to a net loss of about $400,000 last year. Its stock resumed trading on Nasdaq after emerging from bankruptcy.

ChainCatcher news, according to The Block, cryptocurrency mining company Marathon Digital plans to reach a hash rate of 50 EH/s by the end of 2024, doubling its capacity from the beginning of the year. Starting in 2024, its total mining facility hash rate is approximately 24.7 EH/s. Marathon initially planned to increase its hash rate by about 46% within the year, targeting 35-37 EH/s. Due to recent acquisitions and increased machine orders and capacity, the company now expects its business to expand and reach a full hash rate of approximately 50 EH/s before the end of 2024.

ChainCatcher news, according to Cointelegraph, a Swedish cryptocurrency mining company has discovered that it evaded over $90 million in taxes after a government investigation over the past four years.The Swedish Tax Agency investigated the operations of 21 cryptocurrency mining companies and found that 18 of them provided "misleading or incomplete" information to obtain tax benefits. These companies avoided paying value-added tax by providing misleading business descriptions or found other ways to evade paying import taxes and income taxes.

ChainCatcher news, reported by Blockworks, crypto mining company Marathon Digital announced the launch of the Bitcoin sidechain development platform Anduro, which aims to help users create Bitcoin sidechains.At the same time, Marathon has begun building two sidechains, named Cooperative and Alys, and the company stated that open-source contributors can further develop these two sidechains.Marathon stated that the sidechain Cooperative aims to serve the Ordinals community by providing dedicated space for UTXOs.

ChainCatcher news, the encrypted mining company Riot Platforms, Inc. (NASDAQ: RIOT) announced its financial results for the year ended December 31, 2023. The company generated a record total revenue of $280.7 million, produced 6,626 bitcoins, and achieved a peak hash rate of 12.4 EH/s.Company CEO Jason Les stated that 2023 was another milestone year for Riot, as the company made significant progress in key strategic development goals by completing the 700 MW Rockdale facility expansion, successfully scaling its power strategy, reaching a long-term fixed-price supply agreement with MicroBT, and developing the 1 GW Corsicana facility.

ChainCatcher news, some unnamed crypto mining companies are seeking to establish partnerships with Denton Municipal Electric (DME), a community-driven nonprofit power provider in Texas. Although the identities of these companies have not been disclosed, DME confirmed that discussions regarding leasing have been ongoing for a year. Related reports mentioned a potential five-year leasing option and noted that DME spokesperson Stuart Birdseye was unable to provide the names of the interested mining companies.

ChainCatcher news, the crypto mining company Hut 8 has signed a revised and restated credit loan agreement with Coinbase for $65 million. Coinbase has additionally provided Hut 8 with a $15 million loan, bringing the total loan principal to $65 million. The new loan is expected to be used for general corporate purposes and will be funded at or shortly after the closing of the transaction.

ChainCatcher news, the crypto mining company Argo Blockchain announced the completion of a placement of 38 million shares, raising a total of £8 million (approximately $10 million). The price was set at 20.5 pence per share, representing a 1% discount to the 30-day weighted average price (VWAP) and an 11% premium to the 45-day VWAP.The new funds will be used for working capital, debt repayment, and other corporate purposes.