Only the miners who possess the most cost-effective energy solutions and employ highly efficient equipment will emerge victorious in this quadrennial occurrence.
This week, the mining difficulty of Bitcoin is expected to reach an unprecedented level as miners actively introduce new mining equipment to take advantage of the recent surge in profits.
The miner stands to earn up to $75 million in management fees for the Celsius mining rigs over a span of five years, making it a highly lucrative venture.
With 16.2 EH/s of hashrate, the Singapore-based company ranks among the world's biggest bitcoin mining operations.
The lawsuit alleges that Gryphon mistakenly transferred $500,000 worth of its partner company's bitcoin to a hacker posing as the CFO of Sphere 3D