Bitdeer Technologies Holding Company and Blue Safari Group Acquisition Corp. have announced that their proposed business combination has been given the green light by the U.S. Securities and Exchange Commission (SEC).

This news was revealed in a press release on March 27, 2023, which stated that the SEC had declared effective the registration statement of Bitdeer Technologies Group (BTG) on Form F-4, relating to the proposed merger of the two companies.

The board of directors of Blue Safari has urged its shareholders to vote in favor of the proposed Business Combination, which values Bitdeer at an implied equity value of approximately $1.18 billion.

The extraordinary general meeting (EGM) will be held on April 11, 2023, where shareholders of record of Blue Safari at the close of business on March 20, 2023, will be entitled to receive notice of and to vote at the EGM. The EGM will be held virtually via live webcast and physically at the offices of Davis Polk & Wardwell LLP in New York.

The combined company, BTG, will become a publicly listed company on the Nasdaq under the ticker “BTDR” once the Business Combination is approved and all other customary closing conditions are met. The Business Combination is expected to close shortly after approval by Blue Safari’s shareholders and the satisfaction of other customary closing conditions as described in the Proxy Statement and the Registration Statement.

Bitdeer Technologies Holding Company is a world-leading technology company for the cryptocurrency mining community based in Singapore. The company provides comprehensive digital asset mining solutions for its customers and handles complex processes involved in mining such as miner procurement, transport logistics, mining data center design and construction, mining machine management, and daily operations. Bitdeer has mining data centers deployed in the United States and Norway.

Blue Safari Group Acquisition Corp. is a blank check company sponsored by BSG First Euro Investment Corp. The company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

Blue Safari’s sponsor, BSG First Euro Investment Corp., which owns approximately 49.3% of Blue Safari’s issued and outstanding shares as of the record date of the EGM, has agreed to vote its shares in favor of the Business Combination proposal at the EGM. Blue Safari’s shareholders who have questions or need assistance with voting may contact Karen Smith, Advantage Proxy Inc., Blue Safari’s proxy solicitor.

#Bitdeer #BTC #Bitcoinmining #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

Marathon Digital Holdings, Inc. has released its financial and operational results for the fourth quarter and fiscal year 2022, which ended on December 31, 2022. Marathon is a leader in supporting and securing the Bitcoin ecosystem.

The company reported a net loss of $(686.7) million or $(6.05) per share for the fiscal year 2022, compared to a net loss of $(37.1) million or $(0.37) per share in the prior-year period. Unfavorable variances during the year compared to the prior year included several factors, such as a fourth-quarter impairment charge related to the carrying value of mining rigs and advances to vendors of $332.9 million, declines in the carrying value of digital assets of $317.6 million, lower total margin of $150.4 million, impairments related to the previously disclosed Compute North bankruptcy, and increased interest expense of $13.4 million.

Despite these challenges, the company achieved several operational milestones during the year, including doubling its hash rate to 7.0 exahashes of capacity year-over-year and producing a record 1,562 bitcoin in Q4. Marathon also increased its bitcoin production by 30% year-over-year, from 3,197 BTC in 2021 to 4,144 BTC in 2022.

Fred Thiel, Marathon’s chairman and CEO, acknowledged that 2022 was a challenging year for Bitcoin miners, but his team met each challenge head-on and emerged smarter and more resilient. Thiel cited several operational achievements during the year, including becoming more sustainably powered and deploying behind the meter at a large wind farm in Texas.

Thiel also acknowledged the negative impact of several factors on Marathon’s financial performance in 2022, such as accelerated costs related to the company’s exit from Hardin and the Compute North bankruptcy, and most significantly, a 64% decline in the price of Bitcoin that reduced Marathon’s margin and resulted in impairment charges for its Bitcoin holdings.

Despite these challenges, Marathon took proactive measures in the latter half of 2022 to strengthen its balance sheet, including fully paying down its outstanding balances under the revolving line of credit in December 2022 and terminating its credit facilities with Silvergate Bank in February 2023, which resulted in the release of 3,132 bitcoin that were previously held as collateral.

Looking ahead to 2023, Marathon has two primary goals: to energize its previously purchased mining rigs to reach its target of 23 exahashes by the middle of this year and to optimize its performance by becoming more effective. Marathon believes that these strategic actions have bolstered its financial position and will continue providing the company with optionality, which it believes is essential given the current environment.

#bitcoin #azcoinnews #BTC #Bitcoinmining #btcmining

This article was republished from azcoinnews.com

BitDeer, a subsidiary of former Bitmain co-founder Jihan Wu, has revealed that its operational capacity has surged to 562 MW at the end of 2022. The company has powered 4.2 EH/s and 6.3 EH/s in proprietary mining and hosting hashrate, respectively, as of June 2022.

BitDeer has made a significant leap in capacity from its operational capacity of 280 MW in September 2021, thanks to the construction in Rockdale, Texas. The company has achieved an operational capacity of 386 MW as of June 2022 and increased the developed capacity of the Texas site to 562 MW by the end of 2022.

The new figures place BitDeer in direct competition with Riot, which claims to have 700 MW in developed capacity in the same Texas city. BitDeer’s diversified business models include proprietary mining, hashrate sharing, and hosting. The company generated $75 million through hashrate sharing, similar to selling cloud mining contracts using its own hashrate.

@azcoinnews

The company’s revenue diversification breakdown indicates that BitDeer’s three segments played a more equal role in revenue contribution in 2022 compared to previous years. Notably, the revenue from the hosting segment increased from $26 million in FY’21 to $60 million in the first half of 2022 alone.

@azcoinnews

Texas remains the largest mining hub in North America with about two gigawatts of operating capacity as of Q4 2022, according to an updated North American mining power distribution map by TheMinerMag. Despite industry headwinds, Bitcoin mining is booming in Texas, as reported by Reuters. BitDeer’s success in Texas is a testament to the state’s friendly regulatory environment for crypto miners.

#Bitdeer #RIOT #Texas #Bitcoinmining #azcoinnews

This article was republished from azcoinnews.com

In today’s overview of the cryptocurrency market, Arbitrum stands out as the top trending search on CoinMarketCap. As of March 24th, 2023, the price of Bitcoin (BTC) is $28,250, while Ethereum (ETH) is at $1,813.

The market capitalization of cryptocurrencies has increased by 3.51%, with a current value of $1184 billion. However, the 24-hour spot volume has decreased by 19.32%, with a value of $55.23 billion. The BTC dominance has increased by 0.03% to 46.15%, while the ETH dominance is at 18.7%.

Total liquidations in the last 24 hours have amounted to over $197 million, with 45,856 traders being affected. The largest liquidation order was on Bitfinex, with a value of $9.08 million.

On another note, the mining difficulty of Bitcoin has increased by 7.56% to 46.84T at block height 782208, setting a new record high. The current average hashrate is 340.23 EH/s. Bitcoin’s price has risen by 70% since January, while the mining difficulty has increased by 30% this year.

@azcoinnews

According to data by Santiment, roughly 310,000 ETH has been taken out of known crypto exchange wallets in the last 48 hours, amounting to $558 million.

@azcoinnews

In terms of top gainers in the past 24 hours, OAX (OAX) is up by 62.4%, followed by sETH (SETH) with a 56.7% increase. Other top gainers include Rook (Rook) at 38.8%, SPACE ID (ID) with a 36.6% increase, and Stride (STRD) at 33.1%.

The greed and fear index is currently at 61 (Greed). In other news, Do Kwon is facing allegations of fraud from US prosecutors a few hours after being arrested. Meanwhile, Google is striving to innovate for the needs of web3.

The cryptocurrency market remains volatile, with constant changes and developments. Investors and enthusiasts must stay up to date with the latest news and trends to make informed decisions.

#Bitcoin #BTC #Bitcoinmining #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

The Republican-led U.S. House of Representatives has presented a resolution emphasizing the significance of Proof-of-Work (PoW) mining for certain cryptocurrencies, such as Bitcoin, in the country’s ability to achieve its energy objectives and promote its economy.

This move is in stark contrast to the White House’s recent announcement of a 30% increase in tax on PoW mining.

The resolution was submitted by Mr. Sessions on March 21, 2023, and has been referred to the Committees on Energy and Commerce, Foreign Affairs, Financial Services, and Science, Space, and Technology. The committees will consider the provisions that fall under their jurisdiction.

The resolution highlights that PoW mining uses high-powered computing to guess a random encrypted number to win the right to make the next block in a blockchain and earn Bitcoin. This process sets the rules for miners and verifies the legitimacy of every transaction using the blockchain. The resolution argues that PoW mining is an essential process that allows for a blockchain network to remain trusted, open, and decentralized.

Moreover, the resolution notes that PoW mining requires energy consumption for the validation process, but many concerns are unwarranted. PoW mining’s energy usage is transparent and verifiable, using only 0.14% of the global energy supply, which is less than the amount of electricity lost in transmission and distribution each year.

Additionally, PoW mining seeks out low-cost energy and can utilize excess supply during off-peak periods, which improves the overall economic viability of renewable energy projects. PoW mining also contributes to grid stability through demand response, whereby miners can quickly curtail load to maintain equilibrium between supply and demand on the electrical grid.

The resolution also points out that PoW mining economics are notably responsive to electricity prices. Miners can curtail operations when electricity supply is low or prices are high, providing more energy to households and the grid during times of heavy demand. It highlights the example of the summer and winter of 2022, where Bitcoin miners reduced usage by over 1,000 MW and up to 1,475 MW, respectively, in response to a conservation alert from the Electric Reliability Council of Texas (ERCOT).

Finally, the resolution argues that PoW mining can reduce methane emissions by using stranded or wasted methane as a fuel source, thus reducing the amount of methane that enters the atmosphere. Overall, the resolution expresses the House of Representatives’ belief that PoW mining is crucial to the United States’ energy goals and economic growth.

#Bitcoinmining #BTC #Bitcoin #POW #azcoinnews

This article was republished from azcoinnews.com

ARK Mining a Unique Crypto Mining Platform With Low Investment
ARK Mining, established in 2017, stands as a pioneering force in cloud mining services, offering accessibility to cutting-edge technology worldwide. It has five mining farms across the globe with a user base in around 195 countries and serves over 650,000 Crypto users. Their commitment to ease and democratize mining is evident in the use of renewable energy sources like solar and wind in mining which drive down mining costs and prioritize sustainability. 

Through cloud mining contracts, users can harness significant mining power without hardware investment or the associated hassles. The dedicated team of ARK Mining comprises industry professionals and skilled R&D experts who ensure continuous innovation and top-notch service delivery and empower users to reap rewards effortlessly from their devices like Mobiles and Laptops.

What Makes ARK Mining a Unique Platform?
Comprehensive Industry Coverage: ARK Mining aims to cover the entire cryptocurrency industry chain, offering diverse services to global users.Massive User Base: With over 650,000 active members spread across 195 countries, ARK Mining boasts a vast and diverse user community.Robust Financial Performance: Impressively, ARK Mining has facilitated deposits totaling 7500K+ and withdrawals of over 16M+, showcasing its reliability and trustworthiness.Green Energy Initiative: By utilizing hydropower and wind power with a total capacity of 300,000 KW at their data centers, ARK Mining prioritizes sustainability, reducing environmental impact and operational costs.Advanced Cooling Technology: Their data centers employ both air and water cooling systems, maintaining optimal temperatures between 20-24°C, ensuring efficient and stable mining operations.State-of-the-Art Security Measures: ARK Mining prioritizes user safety with 24/7 on-site guards, intrusion detection systems, and IP-DVR cameras, ensuring the security of both data and physical assets.Cutting-Edge Hardware: With over 15,000 of the newest ASIC miners and GPU rigs ready for operation, ARK Mining stays at the forefront of technological advancements, maximizing mining efficiency and returns.Experienced Team: Their mining team comprises professionals from the blockchain industry and IT engineers, bringing invaluable expertise to the table for seamless operations and continuous improvement.Global Reach: With data centers strategically located in Brazil, Windhoek, and Kazakhstan, ARK Mining ensures global accessibility and efficiency in serving its diverse user base.Continuous Improvement: ARK Mining is committed to enhancing its services continually, exemplified by its ongoing efforts to improve data center services and technological innovation.
Features and Advantages of ARK Mining Platform
ARK Mining is a unique cloud Mining platform that has multiple features and advantages that persuade every crypto enthusiast to invest in a Crypto Mining platform like ARK Mninig. The Features of ARK Mining are as follows:- 
When you Sign up for ARK Mining Platform you will get a $50 Bonus.ARK Mining offers high profitability and Daily payout options.ARK Mining does not charge any other service or Administrative fees.ARK mining is a one-stop solution for cryptocurrency cloud mining that requires no hardware, software, or technical experience.In ARK mining users can generate more than 6 other currencies using the same platform.ARK Mining’s affiliate program allows you to refer friends and earn upto 3.5% referral bonus.ARK Mining Platform uses McAfee and Cloudflare security.ARK Mining is backed by a 100% uptime guarantee and outstanding 24/7 Technical support.ARK Mining’s Withdrawal Process is very easy, just navigate to the withdraw section on the dashboard and withdraw your earnings.
Is ARK Mining a Legitimate Platform?
ARK Mining is a legitimate and secure cryptocurrency cloud mining platform that allows users to generate regular income with small investments. As a cloud mining company founded on sound principles, ARK Mining has a team of certified professionals in various fields such as cryptocurrency mining, blockchain technology, cryptocurrency finance, and security. 
Their mission is to offer a seamless investment experience with expert project management to anyone who wants to invest in cryptocurrency cloud mining, regardless of their level of experience. To ensure the security of your data, ARK uses EV SSL encryption, which guarantees that your data is well-encrypted and never shared with any third party. Furthermore, their dedicated servers are protected against DDoS attacks, ensuring that users can access their services anytime and from anywhere in the world.
Where to Get ARK Mining?
ARK Mining is a mobile-friendly platform through which you can Mine Anytime and anywhere just by downloading the App. To Learn More about ARK Mining visit their official website:ARK mining

Through these contracts, you can earn a stable income just the day after purchasing the contract and when your earnings reach $200 you can withdraw your earnings on your Crypto wallet or can continue to purchase a new contract with more returns.
In Conclusion, ARK Mining provides the best Platform for individuals seeking the best cloud mining experiences. Through meticulous research and analysis ARK curates a selection of reputable and efficient cloud mining service providers, offering diverse plans for mining popular cryptocurrencies like Bitcoin and Ethereum. With ARK Mining, users can engage in cryptocurrency mining without the complexities of hardware management and electricity costs, ensuring a seamless and rewarding experience for miners of all levels. 
#Cryptocurrrency #Bitcoin #Bitcoinmining #ARKMining #CoinGabbar

Visit: CoinGabbar

Bitcoin mining difficulty has been adjusted once again at block height 784224, and this time it has increased by 2.23%. This increase has taken the mining difficulty to a new record high of 47.93 T, which has come as no surprise to those who have been following the trend of Bitcoin mining difficulty over the past few months.

The mining difficulty of Bitcoin has now risen for four consecutive times, which is indicative of the growing interest in Bitcoin mining. This rise in mining difficulty can be attributed to the increase in the number of miners joining the network, as well as the increasing hash rate of the entire network.

@azcoinnews

The current average hash rate of the entire network is 343.03 EH/s, which is a testament to the growing number of miners joining the network. The rise in mining difficulty can be seen as a positive sign for the Bitcoin network, as it means that more people are interested in mining Bitcoin and keeping the network secure.

While this increase in mining difficulty may be seen as a challenge for individual miners, it is important to note that this is a natural part of the Bitcoin mining process. The mining difficulty adjusts every 2016 blocks, or roughly every two weeks, in order to maintain a steady rate of block creation. This is done to ensure that the Bitcoin network remains secure and that new blocks are created at a consistent rate.

The increase in mining difficulty is a sign of the growing interest in Bitcoin mining and the strength of the Bitcoin network. As the network continues to grow and more people become interested in Bitcoin, it is likely that we will see further increases in mining difficulty in the future. However, for those who are willing to invest in the necessary hardware and software, mining Bitcoin can still be a profitable endeavor.

#Bitcoinmining #Mining #BTC #btcsoaring #azcoinnews

This article was republished from azcoinnews.com

1. Bitcoin Miners' Position Index (MPI) reaches peak levels not seen since January 2021, signaling increased miner selling activity.
2. The surge in miner selling raises concerns about a potential acceleration in Bitcoin's current slow market momentum, potentially leading to a quicker decline in prices.
3. Historical data indicates that a high MPI doesn't always result in an immediate and significant price movement for Bitcoin, suggesting a complex relationship between miner behavior and market outcomes.
4. Peter Schiff, a well-known Bitcoin critic, anticipates a significant and abrupt decrease in the value of BTC, adding a bearish perspective to the current market sentiment.
5. Despite various indicators pointing towards a potential downturn, the future price of Bitcoin remains uncertain and challenging to predict, reflecting the inherent volatility and unpredictability of the cryptocurrency market.
Bitcoin's recent price performance has failed to exhibit a strong bullish trend, particularly in light of the market's reaction to ETF approvals. Recent analysis from CryptoQuant suggests that miners might be contributing to this lack of bullish momentum by significantly selling their Bitcoin holdings, raising concerns about the future of BTC.
One key metric used by analysts to gauge miners' behavior is the Miners' Position Index (MPI). This index measures the ratio of BTC miners send out from their wallets to the 365-day moving average of that amount. The current MPI has reached its highest level since January 2021, signaling that miners are capitalizing on Bitcoin's price recovery by rapidly selling their profits. This increased selling pressure may pose a threat to BTC's stability and accelerate its potential decline.
Examining historical trends, the relationship between the MPI and Bitcoin's price reveals a pattern: the MPI tends to rise when BTC experiences declines and vice versa. However, it's essential to note that the MPI's predictive power is not foolproof. Despite a spike in the MPI in January 2021, BTC's price continued to rally for another two months before any significant decline occurred.
Adding to the bearish sentiment, prominent Bitcoin critic Peter Schiff predicts a sharp decline in Bitcoin's price. Schiff attributes this anticipated drop to the SEC's potential introduction of stricter regulations for BTC, particularly in light of recent spot ETF approvals. According to Schiff, these ETFs could increase transaction costs for BTC transactions, undermining its utility.
Schiff has a history of expressing skepticism about BTC, often using social media to voice his concerns. He views the recently approved spot ETFs as "eleven more ways for speculators to place their bets," suggesting that these financial instruments may not bode well for Bitcoin's stability.
As Bitcoin currently hovers around $42,600, attempting to regain momentum above the $42,800 zone, it's crucial for investors to approach the market with caution. The volatile nature of cryptocurrencies underscores the importance of thorough research and independent financial decision-making. While this analysis aims to provide accurate and timely information, readers are advised to exercise prudence and acknowledge the inherent uncertainties associated with cryptocurrency investments. Voice of Crypto, the source of this information, emphasizes its commitment to delivering accurate data but disclaims responsibility for any potential inaccuracies or omissions.
#BTC #Bitcoin #Bitcoinmining #Crypto2024 #cryptocurrency
$BTC

Oman Launches Eco-Friendly $370M Bitcoin Mining with Hydro-Cooling

The Sultanate of Oman has taken a significant step toward the world of cryptocurrency by announcing the launch of a $370 million #Bitcoinmining  project. This ambitious venture will use hydro-cooling technology, and this is an interesting part of this special project because they will use a special cooling technology powered by water, which is good for the environment. This project is a unique and important move towards making cryptocurrency mining more eco-friendly. And this not only makes mining more efficient but also reduces the environmental impact of the energy-intensive process.

The hydro-cooling method is a new way of cooling down machines used for crypto-mining. Instead of using lots of electricity, it uses water to keep the machines cool. This is good because it makes the machines work better and helps the environment by reducing the bad effects of crypto-mining. Oman, a country, chose to use this method. This shows that Oman really wants to take care of nature and be a leader in making crypto-mining more friendly to the environment.

The Sultanate is putting a lot of money into a project. This shows that they want to change and grow their economy by getting into the profitable cryptocurrency market. Many people all over the world want digital money, so countries and big companies are trying to find good ways to make these digital coins without harming the environment. Oman is planning to use a special cooling system to mine Bitcoin. This project could become a model for others to copy because it's a smart and sustainable idea.

Moreover, this plan is expected to strengthen the country's technical foundation and make many job chances in areas like #blockchain technology, sustainable energy, and digital finance. The project also matches Oman's Vision 2040, which focuses on getting better in technology, growing the economy in different ways, and taking care of the environment.

Industry experts predict that this project could potentially transform Oman into a regional hub for cryptocurrency mining. This could happen because Oman is in a good spot and wants to use clean energy. Many people around the world are worried about how mining cryptocurrencies can harm the environment. But Oman's special project, which uses water to cool things down, shows that there's a way to do this without hurting the planet. This could be an example for others to follow and make the cryptocurrency industry more sustainable.

In conclusion, Oman spending $370 million on a hydro-cooled Bitcoin mining project shows that they are looking ahead and welcoming the digital economy. This also sets an example for doing crypto-mining in a way that's good for the environment worldwide.