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...It’s also a high-stakes game involving the backbone of bitcoin — its miners (“Bitcoin miners hoard $2.8bn worth of tokens to offset ‘halving’ of rewards”, Report, April 19)....
...The strategy may pay off in the short term, but miners are facing a far more fundamental, even existential problem....
...New York drummer Johnathan Blake delivers rhythm with a fine balance of tension and ease....
...Rinehart’s appearance on the share register of both companies has been seen as a potential move to position herself in the event of a future merger....
...Shares in several big North America-based gold miners continue to play catch-up as the price of the yellow metal remained on course for its third record closing high in a row....
...Shares in Australian rare earths miner Australian Strategic Materials spiked 20 per cent after the company said it had receive a conditional letter of interest from the Export-Import Bank of the United States...
...Miners have struggled for profitability after a debt-fuelled expansion in the 2021 crypto bull market was curtailed by a crash....
...The world’s biggest miner of rare earths outside China posted a profit drop of more than 74 per cent for its first half on Monday amid weaker Chinese demand....
...After a brief pandemic-era boom in diamond jewellery, miners are battling to whittle down oversupply of gems....
...Investors could use these as a proxy for miners, making them a substitution rather than additional demand....
...Crypto miners last year increased their spending on mining hardware ahead of an update to bitcoin’s network, which will halve their financial rewards....
...The project’s issues mark a further setback for mining’s reputation in London as a safe place to secure returns on investor capital, at a time when Glencore is coming under pressure to move its primary listing...
...The miner had arranged a A$760mn debt package to fund its operations but said it will revise that loan to a smaller amount. Liontown shares dropped 22 per cent during trading on Monday....
...Glencore-backed nickel miner Horizonte Minerals has warned it needs another financial injection after reporting a more than doubling in the cost to build its flagship project in Brazil....
...A scheduled plan in April this year will halve the incentives made available to miners that verify new blocks of bitcoin transactions....
...Some juniors are reaching the point where the investment needs of projects look overwhelming, forcing a sale. Smaller miners fall into two camps....
...They are responding to a blistering rally in uranium prices, which reached a 16-year high above $100 a pound in January and remains elevated at $92 a pound....
...That is a long way from the 0.5 TWh that was sold last year. But any hoped-for boost for the miners has seemingly gone flat....
...A similar move by the billionaire led to the collapse of Albemarle’s A$6.6bn takeover of Liontown Resources....
...Mike Henry, chief executive of BHP, said the miner supported the production credits, but the market was going through a structural change....
...The mining giant’s $10bn-a-year in capital expenditure is markedly higher than its investment of between $5bn and $7.4bn annually over the past five years....
...BHP, the world’s largest mining group, and Australian billionaire Andrew Forrest, who owns miner Wyloo Metals, have been pushing the LME to distinguish between so-called dirty nickel and cleaner supplies...
...Anglo American, one of the few miners to build a copper mine in recent years, offers growth in the red metal, buried amid its South African iron ore and platinum assets....
...However, it’s Not A Good Thing for the crypto miners because their rewards go down....
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