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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)....
...Miners Rio Tinto and Anglo American advanced 3 per cent and 2.3 per cent, respectively. France’s Cac 40 and Germany’s Dax both gained 0.6 per cent, while London’s FTSE 100 rose 0.2 per cent....
...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....
The natural jewels have lost their old mystique because carbon crystals can be grown in labs
...Of the selected miners, none have had gains in more than about 55 per cent of trading days this year, and none are at record highs....
...The strategy may pay off in the short term, but miners are facing a far more fundamental, even existential problem....
...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 are holding 46,200 coins in reserve, the highest recorded number since May 2022, when a marketwide crash forced miners to sell their holdings, The Miner Mag found....
...BHP in 2001 merged with South African miner Billiton and a South African state-owned entity, Public Investment Corporation, is Anglo’s biggest shareholder....
...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....
...Miners are struggling....
...Crypto miners last year increased their spending on mining hardware ahead of an update to bitcoin’s network, which will halve their financial rewards....
...Other miners, such as Bitdeer, are getting into manufacturing rigs themselves....
Horizonte Minerals looking at sale of Brazilian nickel mine as investors fear Indonesia is flooding the market
...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....
...So the EIA is asking 82 crypto miners operating about 150 facilities in the US about their energy consumption....
...Ironically, this disconnect between metal and miners may prompt more dealmaking. Investors haven’t shunned all gold miners....
...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....
Surging prices for ore and concerns over Russian imports lead to mothballed mines being restarted
...Yet again, a cycle of heavy miner investment and bullish promises could be followed by insufficient reward....
...The EU has added Russia’s state-owned Alrosa, the world’s largest diamond miner, to its sanctions list along with the company’s chief executive Pavel Marinychev....
...Mike Henry, chief executive of BHP, said the miner supported the production credits, but the market was going through a structural change....
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