Latest news with #cryptoMining
Reuters
26-05-2025
- Business
- Reuters
XY Miners Launches Renewable Energy-Powered Cloud Mining Model, Aiming to Become the World's First Carbon-Neutral Crypto Mining Platform
LONDON, United Kingdom, May 23, 2025 (EZ Newswire) -- XY Miners, opens new tab, a leading global cloud mining platform, today announced the launch of its next-generation mining infrastructure powered entirely by renewable energy. This major milestone positions XY Miners as a pioneer in building the first fully carbon-neutral crypto mining ecosystem, integrating environmental responsibility with digital asset innovation. The company's mining operations now run entirely on solar, hydro, and wind power across data centers located in energy-stable regions including Northern Europe, Southeast Asia, and Canada. This sustainable shift enables users worldwide to participate in crypto mining with zero hardware setup, reduced costs, and no environmental compromise. 'Sustainable innovation is not optional — it's a necessity,' said Ewen Emmerson, CEO of XY Miners. 'We're committed to building a mining platform that is transparent, legally compliant, and environmentally responsible.' Get Started with XY Miners Getting started with XY Miners is easy — just follow these steps: XY Miners Core Advantages Core advantages of XY Miners platform include: A Sustainable Path for Crypto Mining According to data from the International Energy Agency (IEA), traditional crypto mining consumes more electricity annually than many small nations. XY Miners is addressing this challenge head-on by aligning its operations with ESG principles. 'Crypto mining must evolve to support both growth and sustainability,' added David Brian Pegler, Global Strategy Director at XY Miners. 'We believe that profitability and environmental responsibility are not mutually exclusive—they are the future of this industry.' About XY Miners XY Miners is a London-based cloud mining platform focused on delivering secure, sustainable, and user-friendly crypto mining services to global investors. By integrating renewable energy infrastructure and automation, the company is redefining how digital assets are mined in the era of green finance. For more information, visit The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Media Contact David Brian ### SOURCE: XY Miners Copyright 2025 EZ Newswire See release on EZ Newswire
WIRED
23-05-2025
- Business
- WIRED
Kentucky's Bitcoin Boom Has Gone Bust
May 23, 2025 7:00 AM In the US state's coal country, crypto mining was supposed to bring renewal. Now mines are powering down, and investors are hoping AI-powered data centers will fill the void. Photo-Illustration:If you drive outside the city of Campton, population less than 400, the low industrial noise of crypto mining rises from the trees. Step closer, and the source comes into view: squat metal buildings that look like shipping containers arrayed in a semicircle, thrumming with fans and processors. There's chain-link fencing, security cameras, and two guards sitting in pickup trucks just beyond the wire. There are steel shipping containers like this all over these hills, right where the old coal mines once stood. And inside, specialized computers race to solve complex math problems—competing to verify bitcoin transactions and earn slivers of digital currency as a reward. For a brief moment, in 2021, it felt like the region had found its next boom—and it had Bitcoin written all over it. At its peak, Kentucky accounted for some 20 percent of the collective computing power dedicated to proof-of-work cryptocurrency mining in the US. But booms, here, have a history. And so do busts. Local officials say it is hard to pin down the exact number of crypto mines still active in eastern Kentucky because state regulations are light and there's a general lack of transparency in the industry. But what is clear, locals say, is that the boom has begun to recede. ' They'd constructed on someone else's land, or they would be paying a host company to provide the physical plant,' alleges Anna Whites, a lawyer who represented a roster of crypto mining clients. 'So they'd pay the down payment or they would convince the landowner to pay the down payment, and then they would mine the first three months and then they'd go into the next billing set cycle, go almost to the end of it and then disappear.' In early 2022, when Mohawk Energy initiated a crypto mining project in Jenkins, Kentucky, local officials said this time it would be different. Cofounded by Kentucky senator Brandon Smith, Mohawk purchased a sprawling 41,000-square-foot building and the 8 acres around it. It leased most of it to a Chinese crypto mining company, and the rest of the building included classrooms and hands-on training centers that were supposed to teach locals how to repair iPads, maintain Bitcoin rigs, and build skills for a digital economy. It was a big deal for Jenkins. A local PBS station ran a story about the launch. The images showed tool kits, workers, and smiling officials. 'The plan with Mohawk was to employ retired coal miners and disabled veterans who were back in eastern Kentucky and couldn't find work, and train them,' said Whites, who counts Mohawk as one of her clients. Among other things, the project promised near-six-figure salaries and a vow to put some of the mining proceeds into the training program, to help grow it. And for a time, it worked. Whites said that for a brief moment—about 18 months—things looked promising. Twenty-eight families saw real gains: One person from each family landed a permanent job, and about 30 more relatives found work nearby. But when we asked where things stood now, she paused. 'I believe most of them are unemployed again.' The unraveling came quickly. The Chinese partner sued for breach of contract. Mohawk counter-sued. And the shared crypto profits never materialized. Now, as some Kentucky residents have soured on bitcoin mining, they've started to speak about AI data centers in the same way they used to talk about coal seams and hash rates: with a kind of cautious hope. AI, they say, could bring jobs, fiber optics, and permanence. Colby Kirk runs a nonprofit called One East Kentucky, focused on bringing economic development to the region. He remembers the moment the conversation shifted, back in April when he was in Paducah for the Kentucky Association for Economic Development's spring conference. 'They had some site selection consultants that were on the panel, and they were talking about data centers,' he recalls. 'And they talked about this I-81 corridor up through Pennsylvania where there's all kinds of these big data centers. And they talked about whether our communities could prepare for some of these kinds of investments? And the consultant was like, here's kind of what it takes.' What it takes, it turns out, is no small feat: flat land, lots of power, fiber connectivity, and a workforce that can wire and weld. As fate would have it, the number of welders in the area, according to regional economic development organization One East Kentucky, is about twice the national average, which stands to reason, because wherever there's metal and stress—and there's a lot of both in coal mines—welders are the people who keep it all from falling apart. The old infrastructure is still there too; substations, hardened ground, cooling systems, and power-hungry hardware just waiting to be switched back on. 'Maybe a data center or something is a part of the puzzle,' Kirk said. So, at the conference, when the panel ended and the floor opened to questions, Kirk says he asked the one he couldn't stop thinking about. 'You know, 50, 60 years ago it would take a room bigger than my office to power a computer, and now I've got a computer I carry around in my pocket that's more advanced than what we sent astronauts to the moon with,' he recalls asking. 'Are these data centers going to keep taking up million-square-feet buildings with 30- and 40-foot ceilings, or are we gonna be left with an abundance of warehouse or industrial-scale buildings that we won't be able to keep up?' The consultant, he claims, didn't have a good answer. 'And that's the thing,' Kirk says. 'We don't know what the future's going to hold when it comes to this stuff.' That kind of ambiguity doesn't sit well with Nina McCoy. She's a former high school biology teacher from Inez, a coal town made famous in 1964 when President Lyndon Johnson used it to generate support for his War on Poverty. 'This is going to sound awful,' she says, 'but if they're putting it here, then that means it's bad. We've lived here long enough to see that that is how it works. You put those things that you don't want in your neighborhood in a place like this.' Her skepticism is rooted in lived experience: In October 2000, a massive coal slurry spill from a mine site upstream poisoned the Coldwater Fork stream, which runs behind her house. People in Inez couldn't drink water from the tap for months. 'Those of us living downstream didn't hear about it for a while, but the school system had to close down for about a week until they got an alternate water source,' she says. To this day, many in Inez still don't trust the tap water. So when McCoy hears the hype about AI, she hears something else: another promise that comes with a cost. 'We've allowed these people to be called job creators,' she said. 'And I don't care if it's AI or crypto or whatever, we bow down to them and let them tell us what they are going to do to our community because they are job creators. They're not job creators, they're profit makers.' And the profit leaves a footprint. AI data centers demand staggering amounts of energy—a ChatGPT search uses up to 10 times more energy than a regular Google one—and they run hot. To keep them cool, these facilities consume billions of gallons of water every year. Most of that evaporates, but residents are wary because they have had problems with facilities and their runoff in the past, so they worry these new facilities could affect fish and disrupt the land. The very things the residents of Kentucky hope to preserve. Still, some locals see potential, even progress. 'AI is in everything that we do,' said Wes Hamilton, a local entrepreneur who did his fair share of crypto mining in Kentucky in its heyday. 'Siri, ChatGPT, robotics—everything you can imagine has to have AI,' he said. 'Bitcoin is a one-trick pony. You create it. The only person that gets paid is the owner of the machines.' Hamilton claims there is a path forward where data centers bring in investors, engineers, maybe even companies willing to stay. All the AI people in the world would be steaming into Kentucky, Hamilton says. And while he admits to losing a fortune in crypto ventures in the past, he claims this is different. When Bitcoin first arrived, lawmakers offered generous tax breaks to lure miners. Companies investing more than $1 million were exempted from paying sales taxes on hardware and electricity. And then, in March 2025, Kentucky governor Andy Beshear took all that and went a step further by signing a 'Bitcoin Rights' bill into law. The legislation, cast as a defense of personal financial freedom, is designed to enshrine the right to use digital assets in Kentucky. An earlier draft went further, aiming to bar local governments from using zoning laws to restrict crypto mining operations—a provision that drew resistance from environmental groups. That language was eventually tempered, but the intent remains: to signal that, in Kentucky, digital extraction can keep humming. Which is why we found ourselves outside this facility in Campton, staring at this semicircle of metal buildings nestled in the trees. The mines run all night and all day, even Sundays. And the question some are asking now, with bitcoin hovering around $100,000 and big miners talking about pivoting to AI, is whether bitcoin mining gets a second wind in Kentucky. Mohawk's bitcoin mining may even make a comeback. Anna Whites said the parties are supposed to go into arbitration May 12th. 'I'm hopeful,' she told us. 'I'm very hopeful that they sit down and say, 'Mighty nice plant you have there. Let's just go ahead and turn it on.''
Associated Press
12-05-2025
- Business
- Associated Press
T-REX Acquisition Corp. Announces Uplisting to OTCQB Venture Market Trading
Plantation, Fla., May 12, 2025 (GLOBE NEWSWIRE) -- T-REX Acquisition Corp. (OTCQB: TRXA), a growth stage, multi-tiered, vertically integrated crypto-mining business, is pleased to announce that the OTC Markets Group has approved the quotation of its common stock shares on the OTCQB ('OTCQB'). The Company's common shares began trading on OTCQB Venture Market under the symbol 'TRXA' as of the opening of the market on May 12, 2025. Uplisting to the OTCQB will potentially provide T-REX with greater liquidity and a more seamless trading experience for shareholders. Frank Horkey, T-REX Acquisition Corp.'s President said: 'While T-REX Acquisition Corp. has been trading on the OTC Pink Sheets the last few years, this uplisting to the higher-standard OTCQB Venture Market is an important milestone for our Company and its Shareholders. We believe this will enhance the visibility and transparency of T-REX within the investment community, improve our access to institutional capital, and create a more efficient market for investors. Coupled with our recent acquisitions, new business verticals, and management additions, I believe T-REX has uniquely positioned itself to capitalize on the ever-growing crypto mining market.' T-REX Acquisition Corp. (OTCQB: TRXA) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of T-Rex Acquisition Corp. (the 'Company'). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price. Contact Information [email protected] 954 960 7100
Associated Press
12-05-2025
- Business
- Associated Press
Canaan Inc. to Report First Quarter 2025 Financial Results on May 20, 2025
SINGAPORE, May 12, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ('Canaan' or the 'Company'), an innovator in crypto mining, today announced that it plans to report its financial results for the first quarter ended March 31, 2025, before the U.S. market opens on May 20, 2025. The Company's management team will hold a conference call at 8:00 A.M. on May 20, 2025, U.S. Eastern Time (8:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details for the conference call are as follows: All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call. Investors may submit questions to the Company via [email protected] up to 24 hours before the start of the conference call. The Company's management team will answer a selection of the submitted questions during the Q&A session of the conference call. A live and archived webcast of the conference call will be available at the Company's investor relations website at About Canaan Inc. Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin's history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit Investor Relations Contact Canaan Inc. Xi Zhang Email: [email protected] ICR, LLC. Robin Yang Tel: +1 (347) 396-3281 Email: [email protected] View original content: SOURCE Canaan Inc.
Associated Press
10-05-2025
- Business
- Associated Press
Bitcoin Surges Past $104K: JA Mining Announces Timely Bonus Offer to Support Growing Demand for Crypto Mining
WARWICK, United Kingdom, May 10, 2025 (GLOBE NEWSWIRE) -- In response to Bitcoin's recent surge past $104,000, its highest price to date, JA Mining has announced a timely new incentive to meet rising demand for accessible crypto mining solutions. As interest in digital assets intensifies across global and U.S. markets, including among tech-savvy communities in Los Angeles, the company is launching a limited-time $100 sign-up bonus for new users entering the cloud mining space. Amid this market momentum, the global crypto mining industry is experiencing unprecedented growth. JA Mining is such an example, a leading provider of cloud mining solutions, is enabling users to participate in mining opportunities by offering secure, low-cost, and efficient services. The platform ensures that even beginners can get started with minimal investment and expertise. As the crypto market continues to grow, JA Mining remains committed to providing its users with optimized mining strategies, ensuring that customers benefit from the market's positive developments. A Compliant and Secure Cloud Mining Platform JA Mining is a cloud mining platform officially registered and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. The platform integrates regulatory transparency, cutting-edge compliance, security, and popularization technology, and a seamless user experience, addressing a major industry challenge: the difficulty for retail investors to safely enter crypto mining. Unlike traditional mining, which requires expensive hardware and significant energy consumption, JA Mining allows users to remotely access mining resources hosted in secure, professional data centers. This simplified process removes the need for hardware purchase, electricity costs, and technical setup. As a result, users can participate in the mining process with ease and start earning daily income from Bitcoin. 'We aim to not only provide a mining platform but also create an ecosystem that helps ordinary people enter the digital wealth space,' said a spokesperson for JA Mining. 'With our $100 registration bonus, new users can start their mining journey without risk and enjoy a fully regulated and secure experience.' Simplified, Low-Cost Participation in Bitcoin Mining JA Mining offers a straightforward path for individuals interested in generating passive income from Bitcoin. Through the platform's cloud mining services, users can access mining resources with minimal upfront investment. The system automatically distributes mining rewards, allowing users to earn daily Bitcoin income without technical knowledge or hardware setup. The platform's dynamic resource allocation ensures that users benefit from stable mining operations 24/7, with all mining machines deployed and maintained in secure data centers worldwide. These operations are professionally managed to ensure optimal performance and user profitability. A $100 Sign-Up Bonus to Get Started JA Mining's platform also provides a Register and get $100 bonus to new users. This bonus can be directly applied toward cloud mining packages, enabling users to get started without a significant initial investment. The bonus gives users the opportunity to experience the platform's services and start mining Bitcoin immediately. 'By lowering the barrier to entry for Bitcoin mining and offering a clear, user-friendly path to passive income, we're creating a unique opportunity for everyday people to take part in the digital economy,' the spokesperson added. The following is an example of the potential earnings: Understanding potential profits with JA Mining. About JA Mining JA Mining is a cloud-based cryptocurrency mining platform headquartered in the United Kingdom. The platform enables users to remotely participate in cryptocurrency mining by accessing secure, professionally managed data centers. JA Mining offers a fully compliant, transparent, and user-friendly experience, giving both beginners and seasoned investors the opportunity to generate passive income through Bitcoin and other popular cryptocurrencies. Media Contact: JA Mining [email protected] A photo accompanying this announcement is available at
