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Mining company notes $136 million in losses for 2018

Canadian cryptocurrency mining company Hut 8 has recorded $136 million losses in 2018, according to its annual earnings report. The losses were incurred despite Hut 8’s boasts of “record” revenue—it earned $49.4 million from mining 5,592 bitcoins. Hut 8’s adjusted EBITDA (Earnings before Interest, Taxes,…

CME Group net income falls by 17 per cent

In the first quarter of 2019, CME Group reported a 17 per cent decline in earnings, WSJ writes. Although the exchange’s revenue rose, it was still considerably lower than last year. While CME reported net income of $599 million in the first quarter of 2018,…

Iran Aims To Boost BTC Adoption To Ensure Bigger Tourism Revenue

Iran has currently a booming tourism sector but after the U.S economic sanctions, the country struggles to boost the economy. For this reason, the Iranian government is considering ways to increase Bitcoin adoption as a new way of boosting the flow of revenue into the…

Coinbase’s volumes indicate a tough road ahead in going public

Coinbase is having a tough year with monthly volume being only 6% of what it was a year ago. The revenue, which is still almost exclusively driven by trading commissions, could drop by up-to 56% year-over-year if the market conditions remain the same. Monthly traded…

Bitfinex Partnered With at Least 6 Different Banks During 2018

22 months since Wells Fargo suspended the processing of withdrawals sent by four Taiwanese banks that service Bitfinex, the platform remains among the top 20 exchanges by adjusted volume. While Bitfinex hosted more than $5 billion in trade this past month, the exchange has struggled…

The Daily: Sapphire Develops GPU for Grin, TSMC Sees Drop in Mining Revenue

In The Daily this Saturday, Sapphire has designed a new graphics card suitable for mining the recently launched Mimblewimble cryptocurrency Grin. In other news related to the minting of digital coins, Taiwan Semiconductor Manufacturing Company has reported a significant decrease in its revenues from the…

The Revenue Agency Of Bulgaria Will Investigate Crypto-Selling Companies

The National Revenue Agency of Bulgaria announced to start a series of investigations of cryptocurrency selling companies according to the crypto news coming from Sofia-based news outlet Novinite reports. The reason for the investigation is to make sure that the companies are in compliance with…

Q3 Report: Chinese Blockchain Company Xunlei Reaches $45.3 Million In Revenue

The revenue report of the Chinese blockchain-based software company Xunlei is in today’s blockchain news where you can see that the company’s revenue increased this year after they introduced blockchain services. According to the report, the company’s Q3 revenue reached $45.3 million which is an…

Nvidia Misses Q3 Revenue Target as Cryptocurrency Slump Weighs on Business

Shares of Nvidia plunged as much as 17 percent in after-hours trading on the Nasdaq Stock Market on Thursday, after the U.S. bitcoin mining equipment maker reported unexpectedly weak revenue for the third quarter. In premarket trading at the time of writing on Friday, Nvidia…

Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million

Hut 8 Mining Corp., a Canadian bitcoin mining company, has released its third quarter earnings report, which shows a net loss of US $8.7 million on higher depreciation costs. Depreciation spiked to $13.3 million, wiping out mining profit which came to $6.7 million. Also Read: Trade.io…

Wave of Mobile Tax Hikes Squeeze Africa’s Poor to Indulge Governments

A smart robber fleeces you with a pen and a handshake. From Zimbabwe to Kenya, Uganda to Benin, African governments are on a tax-raising spree, looking for easy money, ostensibly to help fund successive revenue shortfalls and budget deficits. Often, the money ends up being…