Eliza Gkritsi is CoinDesk’s crypto mining reporter based in Asia. CORRECTION (Nov. 8, 01:02 UTC): A previous version of this story incorrectly stated that Riot’s consensus analyst estimate was for adjusted net earnings of $1 per share, instead of $0.01. Bitcoin mining heavyweight Riot Blockchain (RIOT) disappointed average analysts’ expectations in its third quarter. The miner generated $46.3 million in revenues, lower than the average estimate of $56.3 million, bringing net loss to $0.24, compared to a consensus estimate of adjusted net earnings per share of $0.01, according to FactSet. Riot’s revenues were lower than the previous quarter’s $72.9 million, […]

Eliza Gkritsi is CoinDesk’s crypto mining reporter based in Asia. Executives at Compute North, which provides data centers where bitcoin (BTC) miners can host their machines, received about $3 million in payroll and bonuses on the same day the company filed for bankruptcy, a court filing shows. Compute North filed for Chapter 11 on Sept. 22, succumbing to the rout in cryptocurrency prices and rising electricity costs. But even as that bankruptcy filing put a freeze on payments to creditors, executives received large payouts. The company paid co-founder and former CEO Dave Perrill $613,000 for payroll and benefits, according to […]

Daniel Batten is a climate tech investor, author, analyst and environmental campaigner who previously founded and led his own tech company. 2022 has changed everything that we in the environmental, social and governance (ESG) sector thought we knew about Bitcoin. We thought it was a net negative for the environment. We could not have been more wrong. It turns out that Bitcoin mining has the potential to avoid an astonishing 0.15°C of global warming. This is true because Bitcoin is the only technology that’s available, practical and scalable when it comes to tackling the world’s most deadly greenhouse gas of […]