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CleanSpark announced on June 27 that it had acquired GRIID Infrastructure, a US-based Bitcoin miner for $155 million. The company expects the all-stock deal to close in Q3, 2024 subject to GRIID shareholder approval and other customary requirements. Bitcoin miner CleanSpark announced today that it has entered an agreement to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million . According to a press release the merger agreement also saw the two Bitcoin mining companies seal an exclusive hosting agreement for all of GRIID’s currently available power. 20 MW of this power will immediately be allocated to CleanSpark. “We are looking forward to welcoming the GRIID team into the CleanSpark family and we are excited to apply the CleanSpark way, carefully honed alongside the communities we operate in Georgia and Mississippi, to GRIID’s impressive pipeline in Tennessee,” CleanSpark CEO Zach Bradford said in a statem...

SEC sues Geosyn Mining and co-founders for misappropriated funds and misleading investors. Bitbot revolutionizes crypto trading with a non-custodial Telegram bot. The $BITBOT presale nears $3M presale with the token poised to rise from the current $0.0171 to $0.018. The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC, and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors out of $5.6 million. Meanwhile, Bitbot, a non-custodial Telegram trading bot, is on the verge of hitting $3 million in its presale. Let’s delve into the details of these developments. SEC’s charges against Geosyn Mining and its co-founders According to the SEC’s complaint, filed in a federal court in Texas, Geosyn raised approximately $5.6 million from over 60 investors between November 2021 and December 2022. According to the U.S. SEC, the company allegedly misled investors...

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. According to a Messari report, Bitcoin miners have attracted the most venture capital investment in November. This surge comes as Bitcoin mining operations seek to expand their facilities and upgrade equipment to stay competitive. With new mining projects like Bitcoin Minetrix (BTCMTX) garnering traction in presale, the mining sector appears to show no signs of slowing down. Venture capital floods Bitcoin miners ahead of halving Crypto fundraising saw a significant uptick in November, with Bitcoin mining companies attracting the most capital. According to Messari, 90% of the 98 crypto deals worth $1.75 billion last month went to miners, far exceeding exchanges and payments projects. You might also like: Crypto news website Decrypt merges with Rug Radio Northern Data led the pack, raising over $600 million in a debt fina...

Bitcoin miners have sent up to 315% of their daily revenue to exchanges but BTC prices are yet to react. Bitcoin (BTC) miners are sending record amounts of BTC to centralized crypto exchanges. In a June 27 tweet, on-chain analytics platform Glassnode reported an all-time high in Bitcoin miner revenue sent to exchanges . Percent of miner revenue sent to exchanges. Source: Glassnode. It noted that there was currently an “extremely high exchange interaction,” from Bitcoin miners which had sent a record $128 million to exchanges over the past week. This is equivalent to 315% of their daily revenue, the analytics platform noted. There have been several spikes in miner revenue sent to exchanges during the 2021 bull run as they took profits. There was also a capitulation inflow in late 2022 as markets hit their cycle bottom. However, this latest spike has dwarfed them all by a considerable margin. Usually, when miners send BTC profits to exchanges they do so in preparation to cash out to c...