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Foundry Academy Launches Training Program to Produce Top Technicians for BTC Mining Industry – Mining Bitcoin News

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Foundry Digital, a digital asset mining and a staking-focused subsidiary of Digital Asset Group, has announced the launch of a new bitcoin mining hardware training program. The training course, which is expected to commence on Nov. 7, is expected to help professionals and enthusiasts learn how to set up a miner as well as to identify and solve common hardware failures.

‘In-Person Classes’ to Be Conducted by Industry Players

Foundry Digital, a subsidiary of Digital Asset Group (DCG), has announced the launch of a new training course for individuals seeking to further “their education in the areas of installation, maintenance and troubleshooting of bitcoin mining machines.” The three-day training program seeks to produce top technicians for what has been described as “the fast-growing mining industry.”

According to Foundry Digital’s Nov. 3, 2022 press statement, the training program, which includes “in-person classes” conducted by players in the industry, will cover topics such as setting up an application-specific integrated circuit (ASIC) mining machine. The program, which commences on Nov. 7, will also involve helping the learners identify and solve regular hardware failures.

Helping Learners Gain ‘Valuable Technical Skills’

Remarking on the training program’s launch, Craig Ross, the executive director of Foundry Academy, praised the training course which he described as an “opportunity to gain valuable technical skills” quickly. He said:

Foundry Academy’s curriculum remains on the leading edge of industry standards, with this new program designed in response to direct requests from the mining community. The 3-Day Mining Intensive provides enthusiasts and industry professionals the opportunity to gain valuable technical skills on an accelerated timeline.

As per the statement, Foundry Academy, which is expected to spearhead the training activities, will do so on behalf of Foundry Digital, which also owns the largest bitcoin mining pool, Foundry USA.

What are your thoughts concerning this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.



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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions ‘Restructuring’ – Mining Bitcoin News

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Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions 'Restructuring'


On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update published on Monday indicates that Core Scientific sold 2,285 bitcoins at an average price of $19,639 per bitcoin.

Core Scientific Releases October Update

On Oct. 29, Bitcoin.com News reported on the bitcoin mining firm Core Scientific (Nasdaq: CORZ), as the company’s shares were downgraded by the B. Riley analyst Lucas Pipes following the firm’s Form 8-K SEC filing. Pipes downgraded shares of CORZ to Neutral from Buy and said “compressed self-mining margins have exerted extra pressure on the company’s ability to meet its financial obligations.”

The October update published on Monday shows that the publicly listed mining company has 243,000 colocated and owned application-specific integrated circuit (ASIC) bitcoin mining rigs. During the course of last month, Core Scientific managed to mine 1,295 bitcoins with the firm’s resources. However, the company sold more than it made in October as it sold 2,285 bitcoins during the 30-day span.

The BTC was sold for $19,639 per unit and the company raked in $44.8 million from the sales in October. Core Scientific holds approximately 62 bitcoin (BTC) as of October 31, 2022, and out of the fleet of 243,000 mining rigs, 143,000 are self-hosted by Core Scientific. The self-mining side of Core Scientific’s entire fleet of ASICs represents 14.4 exahash per second (EH/s).

The company has a total of 24.4 EH/s with the colocated fleet it operates and the company operates facilities in Georgia, Kentucky, North Carolina, and North Dakota. Core Scientific’s update does note that the firm has “completed 287 MW of its data center build-out in Texas.” However, the October update does not disclose anything about meeting the firm’s financial obligations.

While Core Scientific did say it finished a data center in Texas it also noted that it powered down the operation and other facilities it operates “to enhance electrical grid stability.” “In the month of October, the [Core Scientific] powered down its Texas and other data center operations on several occasions,” the company’s update details. “Curtailments in October totaled 5,125 megawatt-hours.”

Core Scientific’s shares started the day at 10:20 a.m. (ET) up 5% against the U.S. dollar. CORZ, however, is down 98.82% against the greenback year-to-date.

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24 BTC, analyst, B. Riley analyst, bankrupt, Bankruptcy, Bitcoin (BTC), bitcoin miner, Bitcoin Miners, BTC, BTC miner, BTC Price, Core Scientific, Core Scientific’s SEC filing, CORZ, CORZ downgrade, mining, nasdaq, negative exposure, October update, reserves, restructuring, SEC

What do you think about Core Scientific’s October update? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million – Mining Bitcoin News

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Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an event of default and acceleration under the respective limited recourse equipment financing facilities.”

Bitcoin Mining Company Iris Energy Faces Default on 2 Loans

On Nov. 7, 2022, the bitcoin mining firm Iris Energy updated investors concerning October’s operations and the company noted it currently operates a hashrate of around 3.9 exahash per second (EH/s). The bitcoin mining company also said its “Mackenzie expansion” in British Columbia, Canada, from 50 megawatts (MW) to 80MW is “on track for energization by the end Q4 2022.” Also, the firm’s Childress facility in Texas is still in the construction and energization phase and operations continue on that end.

2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million

However, a Form 6-K SEC filing registered in November indicates that two lenders are alleging the company defaulted on $103 million in equipment loans. The loans are being held by two special-purpose vehicles (SPV) and the lenders have sent a “purported acceleration notice” for the alleged defaults. Iris Energy said that a large fraction of its exahash is unaffected by the SPV’s purported acceleration notice. Iris Energy’s SEC filing states:

2.4 EH/s of miners and all of the group’s data center capacity and development pipeline are unaffected by the limited recourse equipment financing arrangements or purported acceleration notice.

The bitcoin miner’s filing with the U.S. regulator follows other mining companies dealing with financial issues. For instance, at the end of September, Bitcoin.com News reported on Compute North filing for bankruptcy protection. Additionally, Core Scientific told the U.S. SEC that it was having financial difficulties as Core Scientific’s “operating performance and liquidity have been severely impacted by the prolonged decrease in the price of bitcoin.”

As far as the Iris Energy filing is concerned, one SPV says it is owed $71 million, and the other claims Iris Energy owes it $32 million. Iris Energy said that it has available data center capacity and it “continues to explore opportunities to utilize this capacity to either host third-party miners or to self-mine utilizing additional miners that the company has available or elects to purchase.”

Iris Energy shares (Nasdaq: IREN) have lost 19.60% against the U.S. dollar during the last five days. A myriad of bitcoin mining companies have also seen shares slide 80% to 90% during the past 12 months and year-to-date, IREN is down 81.68% against the greenback.

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bitcoin miner, Bitcoin miner Iris Energy, Bitcoin mining, british columbia, BTC miner, capacity, compute north, Core Scientific, Default, defaults, IREN, Iris Energy, Iris Energy mining, Iris Energy shares, Iris Energy stock, publicly listed, self-mine, Texas

What do you think about the Iris Energy SEC filing that shows two companies are alleging default on equipment loans? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin’s Mining Difficulty Shrinks for the First Time in 4 Weeks – Mining Bitcoin News

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Bitcoin's Mining Difficulty Shrinks for the First Time in 4 Weeks


Bitcoin miners caught a small break late Sunday evening (ET) after the network’s mining difficulty dropped 0.20% lower than the difficulty rating two weeks prior. The drop is the first mining difficulty decrease in four weeks, as the metric changed from 36.84 trillion to 36.76 trillion.

Bitcoin Miners Catch a Miniscule Break as the Network’s Difficulty Shrinks by 0.20%

Bitcoin’s mining difficulty is still extremely high in comparison to the height it was in mid-August 2022. For instance, on Aug. 17, 2022, just before the year’s third largest difficulty increase, the difficulty was around 28.35 trillion. At 36.76 trillion, data shows the difficulty increased by 29.66% since Aug. 17, which makes it more than 29% more difficult to find a bitcoin (BTC) block today than it was in mid-August.

Bitcoin's Mining Difficulty Shrinks for the First Time in 4 Weeks
Bitcoin total hashrate on Nov. 7, 2022.

While the 0.20% drop is a small decrease, it is still helpful to miners in contrast to the difficulty rising higher. At the time of writing, Bitcoin’s total hashrate is around 269.86 exahash per second (EH/s). Records show that BTC’s total hashrate lifetime high (321.15 EH/s) recorded on Oct. 5, 2022, has been broken by a new record recorded on Oct. 31. On that day, at block height 761,186, Bitcoin’s total hashrate reached an all-time high at 327.35 EH/s.

Bitcoin's Mining Difficulty Shrinks for the First Time in 4 Weeks
Bitcoin total difficulty on Nov. 7, 2022.

The reason why the network’s mining difficulty dropped is because block generation time has slowed down. Block intervals are just over 10 minutes at the time of writing, as the block generation time is currently 10 minutes and six seconds long. This means, at least at current speeds, another difficulty decrease could be in the cards when it changes again on Nov. 20, 2022. However, a lot can change in two weeks or 2,016 blocks, and the recent 0.20% reduction helps miners.

Bitmain’s S19 XP Hydro Bitcoin Mining Rig With 255 Terahash Becomes the Most Profitable Mining Device

Three-day statistics show Foundry USA leads the pack when it comes to today’s top bitcoin mining pools. Foundry commands 31.47% of the global hashrate with 84.07 (EH/s) of SHA256 hashpower dedicated to the Bitcoin chain. Foundry is followed by Antpool, F2pool, Binance Pool, and Viabtc respectively. Unknown hashrate or stealth miners command the sixth largest pool position in terms of hashrate size, with 10.59 EH/s or 3.96% of the global hashrate.

Bitcoin’s fourth block subsidy epoch or the next block reward halving is expected to happen between April 13 and April 22, 2024, after more than 77,000 BTC blocks are mined. On Nov. 7, 2022, the most profitable bitcoin mining rig is the Bitmain Antminer S19 XP Hyd. with 255 terahash per second (TH/s). At a very high electricity rate of $0.12 per kilowatt hour (kWh), the Bitmain-made model profits by $11.01 per day. If electrical costs shrunk to $0.07 per kWh, the Antminer S19 XP Hyd. can get an estimated $15.51 per day in profits.

Tags in this story

0.20% decrease, 2016 Blocks, All time high, Antpool, ATH, Binance Pool, Bitcoin mining, BTC Mining, Changes, difficulty, difficulty change, Difficulty Changes, difficulty epochs, Exahash, F2Pool, Foundry USA, Hashpower, Hashrate, Hashrates, Increases, mining, Mining BTC, Mining Pools, Terahash, ViaBTC

What do you think about Bitcoin’s network difficulty slipping by 0.20% this week? Let us know what you think about the current state of the bitcoin mining ecosystem in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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