Analysis Today TheBitTimes.com

Swan Mining started its operations in the summer of 2023, and has mined over 750 BTC. Currently, it has 4.5 exahash and expects to exceed 8 exahash by March. Swan Bitcoin, a US-based investment platform focused Bitcoin (BTC), has announced Swan Mining, the company’s mining arm that had been operating in stealth mode. The company’s Bitcoin mining arm launched its operations in July 2023, the company said in a press release on Thursday, noting that it has so far mined over 750 bitcoins. Swan Mining currently contributes 4.5 exahash to the Bitcoin network, the firm added. The mining unit expects its mining capacity to increase to more than 8 exahash by March, 2024. “ Swan Mining is a great example of our company thesis playing out. With our exclusive focus on Bitcoin adoption and helping the industry grow, we continue to attract the talent, opportunities, and capital required to launch new business lines and grow them rapidly ,” Sw...

Bitcoin proponents accused New York Times of overstating emissions by mining companies and omitting the facts about the growing adoption of renewable energy sources for BTC mining. New York Times's latest report on Bitcoin (BTC) mining , titled “The Real-World Costs of the Digital Race for Bitcoin,” has irked many BTC proponent s. A number of Bitcoin proponent s took to Twitter to call out certain aspects of the report calling it "cheery picking data." The NYT article calls Bitcoin mining a “voracious" appetite and claims BTC mining uses as much energy as all residences in New York City. Daniel Batten, a Bitcoin environmental, social, and governance (ESG) analyst, pointed towards two major instances of cherry-picking data and neglecting the increased use of renewable energy in the mining sector. Batten noted that the NYT article overstates actual fossil fuel use for mentioned BTC miners by multi-folds and the mentioned emission levels for these miners are oversta...