Poolin bankrupt, Core Scientific pays $42M to end Proto deal

Homepage > News > Business > Poolin bankrupt, Core Scientific pays $42M to end Proto deal The challenges of block reward mining are pushing most BTC miners into the arms of artificial intelligence (AI), while others get pushed into bankruptcy court. Poolin Tech files for bankruptcy Core Scientific pays Jack Dorsey $42 million to stop shipping mining rigs Ionic Digital ditching bulk of Celsius mining ops Kazakhstan offers miners cheap power for a cut of mining profits Mining’s energy mix getting greener The BTC network’s most recent difficulty adjustment on July 25 was a modest 0.74% decline, a significantly smaller benefit than had been forecast earlier this month. And without hope that the BTC token’s price might resume its upward trajectory for any sustained period, more miners are switching off their ASIC rigs and ‘pivoting’ to operating data centers for AI operators. The impact of this wholesale miner ‘capitulation’ is putting BTC on track to suffer its first annual difficulty decline since the network launched in 2009. And with the next ‘halving’ event less than two years away, some analysts are understandably concerned regarding the future security of the network. Bu...