mining

TeraWulf, a Bitcoin mining company listed on NASDAQ, announced its third-quarter financial report, revealing that its Bitcoin mining revenue dropped from $43.4 million in the same period last year to $13.2 million, a decrease of approximately 69%. During the same period, high-performance computing (HPC) leasing revenue reached $63 million, an increase of 774% compared to $7.2 million in the same period last year. Total revenue was $76.2 million, a year-on-year increase of 51%, with HPC leasing contributing 83%, compared to only 14% in the same period last year.The company's net profit attributable to shareholders for the third quarter was $709.9 million, which included a non-cash gain of $728.4 million from the fair value changes of warrants and derivative liabilities; operating losses widened from $24.7 million in the same period last year to $88.2 million, with adjusted EBITDA at negative $12.8 million. As of the end of the quarter, the company held approximately $2.4 billion in cash, cash equivalents, and restricted cash.TeraWulf previously signed a 20-year lease with Anthropic to provide approximately 401 megawatts of critical IT capacity for its Justified campus in Kentucky, with contract revenue of about $19 billion during the initial term. This week, the company announced it received credit backing from Google for project financing and signed an engineering, procurement, and construction agreement with Fluor Enterprises covering three data center buildings, with the first phase expected to be delivered by the end of 2027. As of September 30, its Lake Mariner campus in New York had already generated revenue from 102 megawatts of critical IT capacity, with an additional 336 megawatts under construction; the contracted power capacity at the Muskie campus in Kentucky has been increased from 500 megawatts to 1 gigawatt, pending regulatory approval.

As Bitcoin mining companies accelerate their shift to AI data center businesses, construction cost overruns and risk allocation have become the focus of market attention. In the latest earnings season, Cipher disclosed that, according to the revised leasing arrangements, the company will bear the first cost overrun of $359.3 million beyond the original budget for the Barber Lake project.Riot expects that about 70% of its Rockdale project budget will be included in a Guaranteed Maximum Price (GMP) contract to control cost risks. Core Scientific stated that tariffs have increased the costs of some equipment and materials. In addition, Riot pointed out that lenders are more strictly reviewing tenant credit status, power supply facility energization, and project delivery records.

Bitcoin mining company turned AI cloud computing service provider IREN announced its first quarter results for the fiscal year 2027 ending September 30, 2026, with total revenue increasing by 66% quarter-over-quarter to $228 million. Among this, AI cloud business revenue grew by 182% quarter-over-quarter to $200 million, with a gross margin of 86%; Bitcoin mining revenue fell from $67 million in the previous quarter to $28 million. The net loss for the quarter was $263 million, compared to $684 million in the previous quarter, with adjusted EBITDA at $66 million.The company's contract revenue backlog increased by 22% quarter-over-quarter to $20.3 billion, with contracts and funding support already secured for the annual recurring revenue target of over $4 billion. Due to customer design adjustments and supplier delivery timelines, the expected realization time has been postponed from the end of 2026 to January 2027, and it may extend to February. Additionally, after the end of the quarter, the company signed a five-year AI cloud service contract, priced at approximately $22 million per megawatt, with the customer prepaying 90% of the GPU capital expenditures.

According to Decrypt, the U.S. Department of Justice announced on Tuesday that a Canadian man has been extradited to the United States, facing charges of assisting in the intrusion of university computers, stealing login credentials, and secretly mining cryptocurrency.A federal grand jury in the Western District of New York indicted 35-year-old Ryan James Roach, a resident of Saskatchewan, and 41-year-old Mathiew James Stubbings, a resident of Ontario, on charges including conspiracy to obtain and damage protected computer information, obtaining protected computer information, and intentionally damaging protected computers, which could result in a maximum sentence of 10 years in prison and a $250,000 fine.The indictment shows that between June 2016 and December 2019, the two targeted U.S. educational institutions with supercomputers, first researching their cybersecurity weaknesses before executing the intrusions. Once inside the systems, they allegedly deployed malware, stole login credentials, and forced the victims' computers to mine for them.Victims included institutions in New York, Tennessee, North Carolina, and Massachusetts. The two reportedly used virtual private servers registered under false names in multiple countries to send malware and mining programs and store stolen credentials, while also forwarding attacks through other victims' compromised computers to hide their identities.Roach was extradited from Canada on October 28 and was arraigned in Rochester, New York, where he is currently detained awaiting a detention hearing. Extradition proceedings for Stubbings are still ongoing in Canada. This case falls under cryptocurrency hijacking, where attackers use others' computers to mine, leaving the victims to bear the electricity costs and suffer performance degradation. The Department of Justice did not specify the particular cryptocurrencies mined by the two.Google's Threat Intelligence team released a report on Monday stating that attackers are expected to increasingly prioritize LLMjacking over traditional resource thefts like cryptocurrency hijacking, which involves hijacking corporate access to AI models and shifting the billing.

According to Lookonchain monitoring, Bitcoin mining company MARA Holdings transferred 1,650 BTC, worth approximately $132.8 million, to Galaxy Digital, Copper, and other platforms in the past 12 hours.

According to BBX data, yesterday global cryptocurrency asset service providers and leading Bitcoin mining companies intensively released their financial reports for the third quarter of 2026, with core financial data as follows:Circle (NYSE: $CRCL) Q3 net profit reached 226 million USD, adjusted EBITDA surged by 85%: Stablecoin issuer Circle released its financial report for the third quarter of 2026, showing strong performance. The total revenue and reserve income for the quarter reached 865 million USD, a year-on-year increase of 17%; net profit from continuing operations reached 226 million USD, a year-on-year increase of 5% (diluted earnings per share of 0.84 USD). Thanks to increased interest income and the adoption rate of USDC, its adjusted EBITDA reached 317 million USD, achieving a significant year-on-year growth of 85%.Hut 8 (NASDAQ: $HUT) Q3 net profit reached 131 million USD, recorded 414 million USD in digital asset unrealized gains: Bitcoin mining and energy infrastructure company Hut 8 announced its Q3 financial report. Despite the impact of selling its power generation assets in Ontario and a decrease in custody income, total revenue for the quarter decreased by 14.9% year-on-year to 71.07 million USD, but net profit attributable to the company surged to 131 million USD (compared to 50.11 million USD in the same period last year, diluted earnings per share of 0.98 USD). The significant improvement in profit was mainly due to 414 million USD in non-cash gains from digital assets (during the quarter, Bitcoin prices soared from about 59,847 USD to about 83,415 USD). Adjusted EBITDA was 33.03 million USD, with a cash balance of 157 million USD as of September 30.Riot Platforms (NASDAQ: $RIOT) Q3 revenue increased to 181 million USD, data center business offset mining decline: Bitcoin mining and data center developer Riot Platforms disclosed its Q3 performance, with total revenue reaching 181 million USD, a slight increase of 1%. The financial report indicated that strong growth in data center and engineering operations successfully offset the decline in Bitcoin mining revenue following the halving. The net profit for the quarter was 4.03 million USD (compared to 104 million USD in the same period last year), and adjusted EBITDA remained at a healthy level of 191 million USD.

According to TheEnergyMag, Ionic Digital, which has transformed from a Bitcoin mining company to a data center operator, announced its third-quarter performance, with total revenue increasing by 32% year-on-year to $48.9 million. Among this, digital infrastructure leasing revenue was approximately $43.9 million, accounting for nearly 90% of total revenue; mining revenue fell from $37.1 million in the same period last year to about $5.1 million, a decrease of 86%. Adjusted EBITDA was about $35 million, compared to $154,000 in the same period last year.Although leasing revenue reached $43.9 million in the third quarter, the actual cash rent received was only about $7 million. The company reiterated its full-year guidance for 2026, expecting total revenue to be between $190 million and $195 million, and is actively seeking customers for its nearly 500 megawatts of additional power capacity at its Texas property.

According to Bitcoin.com, data from hashrateindex.com shows that the price of Bitcoin hashrate dropped from $40.24/PH/s/day on October 1 to $33.18/PH/s/day on November 1, a decline of 17.54%, closely related to the market turmoil following the Binance hacking incident.Nevertheless, miners recorded their highest monthly revenue since November 2025 in October. Data from newhedge.io shows that total miner revenue from October 1 to 31 reached $1.215 billion, while the price of Bitcoin fell by 7.3% during the month. Currently, the total hashrate of the Bitcoin network is 1082.24 EH/s, with an average block time of about 9 minutes and 52 seconds. Analysts point out that the market downturn has not significantly hindered mining operations, but the continued compression of profit margins may test miners' financial resilience.

According to CoinDesk, Bitcoin mining company turned data center developer Cipher Digital reported a net profit of 31.6 million USD for the third quarter, despite a 63% year-over-year decline in revenue. Revenue fell from 71.7 million USD in the same period last year to 26.7 million USD, with Bitcoin mining contributing 20.8 million USD, a 71% decrease, as Cipher shifted its computing power from mining to leasing data centers to AI companies.This quarter, Cipher generated revenue from this business for the first time, with its Texas Black Pearl data center bringing in 5.9 million USD after commencing operations in August. Cipher reported an operating loss of 71.9 million USD, up from 37.6 million USD in the same period last year; adjusted EBITDA dropped from a positive 40.8 million USD to a negative 10 million USD. The net profit mainly came from a 127.2 million USD non-cash accounting gain related to warrants from Google, which does not represent cash actually received by Cipher. Recently, Cipher extended the lease term for the Barber Lake data center to 20 years, bringing the site's contract revenue to approximately 9.1 billion USD.

According to mempool.space data, at 03:14:58 Beijing time, Bitcoin completed its latest mining difficulty adjustment at block height 973728, with the difficulty increased by 5.54% to 148.36T. The previous adjustment was an increase of 5.92% to 140.58T.

The POW cryptocurrency information platform bitgou.org operator Alch-crypto stated that PRL has been exploited by malicious actors. It claimed that someone poisoned the model hosting platform Hugging Face, disguising 31 repositories as Qwen2 small models. Once users load them using trust_remote_code, the PRL miner program will be installed, which also disguises itself as a system process. Some versions come with backdoors that allow remote control of the machines.Alch-crypto mentioned that after the first batch of related repositories was deleted, the attackers changed accounts and re-listed them, with downloads exceeding 32,000 times. The attackers' first batch of wallets has received about 2,276 PRL, which is approximately equivalent to $5,000 based on the price at the time of the post, and they are still receiving payments even after the repositories were deleted.Alch-crypto also reminded local model users: do not enable trust_remote_code for models from unknown sources; if GPU usage spikes abnormally, check the processes first and separate mining devices from machines running AI.

According to disclosures from Yingke Law Firm, the sale of the Texas mining assets related to Poolin's debtors has been approved by the Bankruptcy Court of New Jersey, USA. The transaction price is up to approximately 180 million USD, of which 100 million USD is for the delivery payment, and an additional up to 80 million USD is linked to subsequent milestones.The general deadline for creditor claims is set for December 31, 2026, at 4 PM Eastern Time, which is 5 AM Beijing Time on January 1, 2027; the court plans to hold a hearing on November 10. Creditors who are legally required to submit proof of claims may affect the confirmation of claims, plan voting, and subsequent distributions if they do not file by the final deadline set by the court. Yingke lawyer Wang Yufeng stated that the Poolin case involves a large number of Chinese users, and the claims include platform balances, IOUs, and mining pool earnings, and submitting materials does not equate to completing an effective claim.

Digital asset company Tether announced that 15 Bitcoin mining companies, ASIC manufacturers, and mining pools have committed to jointly build and maintain the integration of its open-source mining development kit, MDK. MDK aims to unify the access methods of different mining infrastructures, supporting developers in building applications and AI automation systems.Participants will develop and maintain the MDK Worker, converting their respective hardware, mining pools, or system interfaces into a universal interface; there is no need to replace existing technology, and they can also decide which functions to open. Existing applications can access different mining environments through MDK. Tether's QVAC mining proxy has accessed mining infrastructure through MDK. Version 0.11 of MDK will be released at the Lugano Plan ₿ Forum, with the first stable version 1 planned for launch by the end of 2026.

The International Criminal Police Organization stated that Operation Serengeti III took place from June 29 to August 31, 2026, across 21 countries, resulting in the arrest of 1,462 suspects, the dismantling of 10,909 malicious networks, and the recovery of over 105 million dollars in illegal funds. The investigation also confirmed that 65,929 victims were attacked by cybercrime gangs, with related losses exceeding 385 million dollars.This operation focused on combating online fraud, ransomware, business email compromise, online scams, and digital extortion. In specific cases, the Ugandan police dismantled two transnational fraud gangs and arrested 365 foreign nationals; Angola seized two illegal cryptocurrency mining centers, arrested 9 individuals, and confiscated over 2,000 mining machines; in Nigeria, another case involved over 2.4 million dollars in suspected criminal proceeds, a significant portion of which was laundered through cryptocurrency transactions.

Heatbit, which previously launched a heater with a built-in Bitcoin mining machine, has announced the release of a heating element for water heaters named Bitwater. This element replaces the resistance wire in standard electric water heater elements with 20 Bitcoin mining chips, using the heat generated by the chips to directly heat the water in the tank. Heatbit stated that this electricity was originally intended for heating water, "the same heat, the same electricity, plus Bitcoin." The company claims that global households use approximately 300 TWh of electricity annually for heating water, which exceeds the entire Bitcoin network's consumption of about 170 TWh, advocating for the decentralization of mining to households.Bitwater uses 20 Bitmain BM1370 chips, with a maximum hash rate of 34 TH/s, a maximum power consumption of 600 watts, and an energy efficiency of 12 joules/TH. Due to water cooling, this element requires no fans and produces no noise. The installation process is DIY: turn off the circuit breaker, drain the tank, unscrew the old element, and then screw in the Bitwater using the included wrench. It is compatible with the one-inch standard interface of 30 to 80-gallon electric water heaters commonly found in the United States and Canada, including brands such as A. O. Smith, Rheem, Bradford White, Whirlpool, and GE, without the need for plumbing modifications or additional circuits.Users can check water temperature, hash rate, and earnings through an app, and choose to mine individually or join a mining pool, with mined Bitcoin sent to an address controlled by the user. The initial "genesis batch" pre-order price is $899, with subsequent batches priced up to $1,299, and pre-orders are refundable, with plans to ship in the first quarter of 2027. Heatbit claims to have tested the entire winter in four and five-person households in New York and Florida. Based on the current hash price of approximately $36.73/PH/s/day, the full load of 34 TH/s could mine Bitcoin worth about $1.25 per day, totaling approximately $455 annually.

According to Bloomberg Law, Arkansas and its Oil and Gas Commission requested the Eighth Circuit Court of Appeals on Tuesday to overturn a lower court order. The order prohibits the enforcement of the state's law that restricts foreign entities from holding digital asset mining operations. The lower court previously determined that the law may have been rendered ineffective by federal regulations taking precedence.Joseph Nelson from the Arkansas Attorney General's Office rebutted this determination. He stated that the law falls within the core area of state police power, and the restricted entities are consistent with countries that the federal government has identified as threats to national security. The law was passed in 2024 and prohibits citizens or businesses from countries subject to U.S. Department of State weapon export controls from holding interests in digital asset mining equipment in the state.

The publicly listed esports company NIP Group, headquartered in Abu Dhabi, announced that it has signed an agreement to acquire Bitcoin mining equipment with a total hash rate of approximately 4.47 EH/s, increasing its total deployed hash rate to about 13.85 EH/s. The transaction is valued at up to $27.3 million, and the company will issue up to 247.1 million Class A common shares to the seller.NIP Group expects that once the related equipment is fully deployed, the monthly output of the mining site will reach approximately 195 Bitcoins, exceeding the previously set target of 160 Bitcoins, which is valued at around $16 million based on the then-current price. The equipment is currently operating in a hosting facility and can immediately increase Bitcoin output upon completion of the transaction. NIP Group launched its Bitcoin mining business in July 2025 and plans to gradually expand its hash rate to higher levels. The company stated that the additional hash rate will serve its digital infrastructure strategy and plans to expand into AI, high-performance computing, and gaming applications.

According to the Binance Research weekly report, the U.S. CPI rose to 3.7% in September, with energy contributing more than one-third, and the PPI increased year-on-year to 6.3%. Based on the EIA oil price path, the overall CPI may peak at around 3.9% in October and fall back to about 2.6% by March 2027.In terms of AI, Anthropic's revenue grew by 45% quarter-on-quarter in the third quarter, significantly lower than the previous growth rate of more than double; its Binance Pre-IPO contracts fell by 8.8% over two trading days, while the yield on CoreWeave bonds maturing in 2032 rose to about 16%. Binance Research believes that the cooling demand for AI and rising financing costs are simultaneously affecting AI infrastructure transactions.

According to Lookonchain monitoring, Bitcoin mining company MARA Holdings is suspected of selling BTC.In the past 5 days, wallets associated with MARA have transferred a total of 1000 BTC to Binance and Gate, worth approximately 82.8 million dollars.

According to the Gate Launchpool page, there are currently four projects underway: DNA, BLKHION, CT, and GT, offering various asset staking options.Among them, DNA is the first project, with a total reward of 2,800,000 DNA. The APR for the ETH, BTC, and DNA pools is 7.25%, 6.24%, and 218.90%, respectively. The total reward for the BLKHION project is 30,400 BLKHION, with the APR for the USDT, BLKGRWON, and MAG7XON pools being 5.15%, 147.62%, and 97.56%, respectively.Meanwhile, the total reward for the CT project is 1,000,000 CT, with the APR for the USDT, CT, and GT pools being 5.10%, 65.82%, and 2.48%, respectively. The total reward for the GT project is 18,400 GT, with the APR for the ETH and BTC pools being 6.83% and 4.51%, respectively.