Latest news with #MARA
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin Mining Costs Soar as Hashrate Hits Records: TheMinerMag
Bitcoin BTC miners are facing mounting pressure as the network's hashrate and difficulty continue to climb, tightening margins even as bitcoin's price holds steady, according to TheMinerMag's monthly report. The network's mining difficulty hit a record 126.98 trillion, propelled by a 14-day average hashrate of 913.54 exahashes per second (EH/s). Transaction fees in June fell below 1% of block rewards, and hashprice dropped to $52 per PH/s before rebounding slightly. Escalating competition and energy costs are expected to drive production expenses above $70,000 per BTC, up from $64,000 in the first quarter of the year, the report said. To remain competitive, public miners like MARA Holdings (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), and IREN (IREN) are accelerating buildouts. MARA grew its hashrate by 30% in May, while HIVE (HIVE) added 32% after energizing a new facility in Paraguay. Cipher Mining (CIFR) is targeting a 70% boost by expanding its Texas operation. Top-tier ASICs now cost between $10 and $30 per terahash, the report said, with operational payback periods stretching as long as two years. That's assuming a $0.06/kWh electricity rate — already out of reach for some. Terawulf, for instance, paid $0.081/kWh in the first quarter, pushing its fleet hashcost up by over 25%. Meanwhile, mining equities are decoupling from bitcoin's price performance. IREN, Core Scientific (CORZ), and Bit Digital (BTBD) were all in the green over the last month, while Canaan (CAN) and Bitfarms (BITF) were both down double digits during the same time period. The shift suggests that investors are paying closer attention to business models rather than just Bitcoin's price action. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
4 days ago
- Business
- Crypto Insight
Bitcoin mining difficulty falls slightly from recent all-time high
Bitcoin's mining difficulty fell slightly on Saturday after hitting an all-time high of 126.9 trillion on May 31 at the start of the previous difficulty adjustment period. The Bitcoin mining difficulty level currently stands at roughly 126.4 trillion, according to data from CryptoQuant. Higher mining difficulty and network hashrate, which is a separate but related measure of the total computing power securing the Bitcoin protocol, both translate into increased miner competition and higher production costs. Miners continue to face financial pressures from the reduced block reward following the April 2024 halving, rising operational costs, and increased mining difficulty, which have changed the calculus for mining companies struggling to remain profitable. Publicly traded mining companies buck trend Despite the challenges miners within the highly competitive industry face, some publicly traded Bitcoin mining companies are expanding their operational capacity and choosing to retain their mined BTC as a treasury asset. Mining firm MARA announced that it increased BTC output by 35% in May, amid a record-level hashrate and market volatility. On April 5, Bitcoin's network hashrate crossed 1 zetahash per second (ZH/s) in computing power — a significant milestone for the decentralized monetary protocol. Despite this, MARA announced that it mined 950 Bitcoin in May and increased its corporate treasury reserves to 49,179 BTC, making it one of the largest Bitcoin holders in the world. 'Record production month for MARA — and we sold zero Bitcoin,' the company's chief financial officer Salman Khan wrote in a June 3 X post. CleanSpark, a public Bitcoin miner focused on securing the network through clean energy, also increased its BTC production in May 2025. The company mined 694 BTC during the month, a 9% increase over production in April, bringing its total reserves to 12,502 BTC, according to its monthly report. 'We increased our month-end hashrate to 45.6 exahashes per second (EH/s), up 7.5% sequentially,' CleanSpark president and CEO Zack Bradford wrote in the May update. The growing trend of mining companies accumulating Bitcoin as a treasury asset also represents a significant shift in business strategy for mining firms that have traditionally sold their coins to cover operational costs. Source:
Malay Mail
5 days ago
- Politics
- Malay Mail
No risks for our brightest: MARA pulls students from US, redirects top scholars to UK amid visa clampdown, says Asyraf Wajdi
KUALA LUMPUR, June 16 — All top-performing students sponsored by Majlis Amanah Rakyat (MARA) who are unable to pursue their studies in the United States due to new visa restrictions under President Donald Trump's administration will be offered placements at universities of comparable standing in other countries. According to Berita Harian (BH), MARA chairman Datuk Asyraf Wajdi Dusuki said the agency had made the 'drastic decision' to temporarily suspend the departure of approximately 200 students to the US, citing concerns over their safety and future amid Washington's tightening of visa policies for international students. Trump had earlier ordered a suspension of foreign student visa processing, a move that has created uncertainty for many international applicants. Asyraf noted that the affected students had already completed 18 months of preparatory studies at MARA colleges. However, the increasingly unpredictable policy environment in the US had prompted MARA to reassess its plans. 'The safety and long-term prospects of our students remain our top priority,' he said. He added that after discussions with the MARA Council, a decision was made not to expose the students — whom he described as already well-prepared — to potential risks. 'These students have undergone one and a half years of preparatory studies at Kolej MARA in anticipation of pursuing further education in the United States. 'But with this new policy in place, even though the Ministry of Higher Education (MOHE) has said, following discussions with the US Embassy, that there are assurances students would not be affected, MARA has decided not to take that risk,' he was quoted as saying. Asyraf stressed that MARA does not want to take chances with sending students to a country where education policies can change abruptly, BH reported. 'The cost of relocating students in the event of a problem is not only high, but it could also disrupt their studies. 'As such, we've made the decision to redirect them to other countries. In fact, the process has already begun, and some students will be heading to the United Kingdom (UK). 'Insya-Allah, these students — who were initially bound for the US — are among our best and brightest, having gone through a rigorous selection process. We've chosen only the top candidates for overseas placements. 'So, there is no issue with us reassigning them to other countries,' he said.
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin Miners Just Had One of Their Best Quarters on Record, JPMorgan Says
The first quarter of 2025 was one of the best periods on record for U.S.-listed bitcoin BTC mining companies, Wall Street bank JPMorgan (JPM) said in a research report Friday. "Four of the five operators in our coverage reported record revenue and profits," analysts Reginald Smith and Charles Pearce wrote. In aggregate, the miners earned gross profit of about $2.0 billion with gross margins of 53%. Those figures compare with $1.7 billion and 50% in the previous quarter, the bank said. MARA Holdings (MARA) mined the most bitcoin in the bank's coverage universe for the ninth quarter in a row, the report said. IREN (IREN) earned the most gross profit of the group for the first time, the bank noted. The miner also recorded the "lowest all-in cash cost per coin at just ~$36,400." Conversely, MARA posted the highest cost per coin of around $72,600, the bank said. The five mining companies that the bank tracks issued only $310 million of equity in the quarter, a drop of $1 billion from the fourth quarter last year. CleanSpark (CLSK) did not raise any equity in the period, the bank noted. The bank estimated the companies spent $1.8 billion in total on power, $50 million more than in the previous quarter. The bank has an overweight rating on CleanSpark, IREN and Riot Platforms (RIOT), and a neutral rating for Cipher Mining (CIFR) and in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin Bounces to $106K After Iran-Israel Jitters, but Analysts Warn of Deeper Pullback
The crypto market is slightly bouncing back from early Friday's jitters on escalating conflict between Israel and Iran. After slumping to the $102,600 mark, bitcoin BTC rebounded to around $106,000 before fading lower in the U.S. afternoon hours with reports about a fresh wave of airstrikes targeting Iran. The top cryptocurrency was down 1.6% in the last 24 hours, changing hands at $105,200 and still less than 6% shy of its all-time high price. Meanwhile, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — has lost 4.4% in the same period of time. Tokens such as ether ETH, avalanche AVAX and toncoin TON were the hardest hit, slumping between 6% and 8%. Crypto stocks, however, aren't doing too hot. Most equities are in the red, especially bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT), down 5% and 4% respectively. A notable exception is stablecoin issuer Circle (CIRCL), which is still benefiting from the windfall of its recent IPO; the stock is up 13% today, with news of retail giants Amazon and Walmart reportedly exploring stablecoins adding to the momentum. Traditional markets don't seem overwhelmingly concerned by the war. While gold is up 1.3%, potentially gearing up for new all-time highs, the S&P 500 and Nasdaq are only down 0.4% each. "Nice bounce thus far and lack of follow-through lower," well-followed crypto trader Skew said in a Friday X post. Market participants will likely remain cautious through the weekend with BTC tightly correlated with traditional markets amid heightened geopolitical risks, Skew added. On the longer timeframe, some analysts see risks of a deeper pullback. 10x Research founder Markus Thielen noted that BTC's drop below $106,000 translates to a failed breakout, and traders should wait for more favorable setups before rushing to buy the dip. He highlighted the $100,000-$101,000 zone as key support, warning that a break below could mark a return to the broader consolidation phase similar to last summer. John Glover, chief investment officer at bitcoin lender Ledn, argued that bitcoin entered a corrective phase from its record highs that could see the largest digital asset drop to $88,000-$93,000. He said the $90,000 level could offer a favorable entry for opportunistic investors before BTC resumes its uptrend. "Once this pattern has played out, the next move higher to the $130,000 area is expected to begin," he said.
