How to mine $1,000,000 of Bitcoin using just a laptop

Contents

Bit Digital earned $ 10 million from bitcoin mining
CONTENT

  • The American company said it earned $ 10 million from the production of BTC

  • USA may become new cryptocurrency mining center

  • Most likely, Texas will become the center of mining

International consortium of news organizations, developing transparency standards.

The American company Bit Digital, whose shares are traded on the NASDAQ stock exchange, summed up the results of the first half of the year. Bit Digital Raised Over $ 10 Million From Bitcoin Mining According To Report.

Bit Digital has concentrated on mining BTC

The American company Bit Digital has summed up the results of the first half of the year. According to the data presented, the profit from bitcoin mining in the first 6 months exceeded $ 10 million.

“As of the date of the report, 22,869 miners have generated 949.51 bitcoins, which is approximately $ 10.08 million,” it was reported..

The number of mined bitcoins

The company also sold part of its P2P lending and car rental business in China and focused exclusively on mining cryptocurrency..

Bit Digital earned $ 10 million from bitcoin mining

At the end of July, income from bitcoin mining amounted to $ 690,000.

America is fighting for primacy in cryptocurrency mining

It is worth noting that America is significantly increasing its share in the world bitcoin mining.

Bit Digital earned $ 10 million from bitcoin mining

Back in June, BeInCrypto reported that the American blockchain company Core Scientific signed an agreement to purchase 17,000 bitcoin mining farms from one of the leading mining equipment manufacturers – Bitmain. According to an official press release, the company has acquired 17,595 S19 Antminers ASICs. Core Scientific claims to be the largest number of mining farms acquired by a single company.

The US has been eyeing the cryptocurrency mining market for a long time. Earlier this year, Barry Silbert, founder of the investment fund Grayscale Investments, which, by the way, already has at its disposal about 400,000 bitcoins (2% of all mined bitcoins), said that the United States or Canada would be the next mining hub..

And it is likely that Texas will become the center of bitcoin mining in the United States. Here, bitcoin miners are ready to offer minimum electricity tariffs, which will be several times lower than in Europe. Earlier BeInCrypto reported that Layer1 data centers made 700% profit by selling energy to the network.

On hot days, the mining factories of Layer1 company stop their work for about 30 minutes.

Bit Digital earned $ 10 million from bitcoin mining

The company sells the electricity saved during this period back to the network, making millions in profits for this..

Bit Digital earned $ 10 million from bitcoin mining

When electricity prices in Texas surpassed $ 200 per megawatt hour, Layer1 made over 700% profit, according to founder and CEO Alexander Ligle..

At night, the company, on the contrary, increases the activity of bitcoin mining, since at this time the cost of electricity drops to zero or even lower due to an excess of wind energy. Thus, choosing the time to mine cryptocurrency and sell electricity, Layer1 increased its own profit by 7 times.

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