Galaxy said mining revenue fell by 23% from the previous quarter, even as total hashrate, or mining power, increased by 11% due to the halving, higher mining difficulty and seasonal operation curtailments. Despite Galaxy’s mining woes, the firm narrowed its third-quarter net loss and its operating revenue grew more than 30% from previous quarter, according to the statement. The shares jumped more than 7% in Toronto on Thursday, while bitcoin and broader market index, CoinDesk 20, were positive for the day.
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Aoyon Ashraf
https://www.coindesk.com/business/2024/11/07/michael-novogratzs-galaxy-looks-to-turn-bitcoin-mining-into-ai-computing-as-revenue-falls/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
2024-11-07 15:30:21
