Crypto-Mining Data Center Compute North Files for Bankruptcy, CEO Steps Down

Compute North, one of the largest operators of crypto-mining data centers, filed for bankruptcy and revealed that its CEO stepped down as the rout in cryptocurrency prices weighs on the industry. The company filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, according to a filing. Compute North in … Read more

‘We don’t have enough’ lithium globally to meet EV targets, mining CEO says

Climate provisions in the put the U.S. back on track toward significant emissions reductions, potentially reducing greenhouse gas output by 40% of 2005 levels. But one miner warned that when it comes to the transportation sector, domestic resources for lithium, the most critical mineral used for electric vehicle production, may not be sufficient enough to … Read more

Bitcoin mining difficulty at its second highest on record, rises over 9%

Bitcoin mining difficulty rose by 9.3% on Wednesday, marking the biggest jump since January and the second highest level on record, according to. See related article: Fast facts The mining difficulty reading was at 30.98 trillion, as of block height 751,968, the data showed. The difficulty level, which changes about every two weeks, hit an … Read more

Controversial $1bn Dendrobium coalmine expansion plan abandoned by mining company

Australian mining company South32 has abandoned plans to in the New South Wales Illawarra region. In an to the ASX, the mining company said the expected financial returns were not enough to justify the $1bn investment the extension would require. “Our decision today follows an extensive analysis of the alternatives for Dendrobium together with the … Read more

Go mining for opportunity at TC Sessions: Crypto

Mining cryptocurrency is no easy task, but neither is finding a co-founder who is savvy and resilient enough to withstand the sector’s volatile nature. Whether you’re mining for a co-founder or your next round of funding, , which takes place on November 17 in Miami, provides fertile ground for all your networking needs. Time-sensitive tip: … Read more

Proactive news headlines including Galileo Mining, Aeris Resources, Dart Mining and Surefire Resources

Sydney, Aug. 18, 2022 (GLOBE NEWSWIRE) — Proactive, provider of real-time news and video interviews on growth companies listed in Australia, has covered the following companies: Galileo Mining Ltd (ASX:GAL) has kicked off diamond drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery, part of the company’s 100% owned Norseman Project in Western Australia.  Aeris Resources Ltd (ASX:AIS) … Read more

Want to Ride the Bitcoin Rally? Here Are 2 Bitcoin Mining Stocks That Analysts Like

The Federal Reserve raised rates this week, by another 0.75%, toughening up its anti-inflationary stance. At the same time, Fed chair Jerome Powell indicated that the central bank may slow its pace on rate hikes, which gives some hope for a ‘soft landing,’ that may curb inflation while avoiding a deep recession. Markets rallied strongly … Read more

Gold Mining Company Newmont Selloff ‘Overdone’ After Q2 Results, This Analyst Says While Upgrading Stock

Canaccord Genuity has upgraded Newmont Corporation (NYSE: ) to Buy from Hold,  from $66 following the company’s Q2 FY22 results. The analysts say that the 13% drop in NEM’s share price yesterday was overdone with the EPS miss, including some abnormal items, such as the $70 million profit-sharing agreement at Penasquito relating to 2021, the timing of gold sales, … Read more

Rio Halves Dividend as Dark Clouds Gather for Mining Giants

(Bloomberg) — Rio Tinto Group reported a sharp decline in first-half profit and cut its dividend in half, in the latest sign that a bonanza era of record returns across the mining industry is nearing an end. Most Read from Bloomberg A year ago, the world’s biggest producers were enjoying super-sized returns, after key commodities … Read more