The Bitcoin rally that began at the start of the year has made miners a happy lot. According to investment company Stifel, most Bitcoin miners are expected to post profits in the first quarter of this year. BTC rally comes at a time when power prices are finally reducing, essentially helping miners sustain their businesses….
Genesis Digital, a cryptocurrency miner, has received a more than one-billion-dollars investment from Alameda Research. Before cryptocurrency prices crashed, SBF inquired about the huge funding of Genesis. The largest venture investment made by FTX partner company Alameda Research was in the cryptocurrency production corporation Genesis, which was also the reason for the bankruptcy of the…
Glassnode, a major on-chain data analytics firm has just shared a report that involves the movement of Bitcoin, which is quite surprising. Migration Recorded for Bitcoin (BTC) Bitcoin seems to have hit a new record in terms of movements that have caused the biggest net decline on exchanges. The aggregate BTC balances have experienced a…
The National Power Administration in Paraguay has warned that the stability of the power system in the country could suffer due to the growth of illegal bitcoin mining operations. The country is currently experiencing a boom in bitcoin mining, but this has taken a toll on its power system. This is due to the fact…
On October 17, the trading value of Ether (ETH) managed to make it into the symmetrical triangle pattern. It was after a while that the trading price of ETH hit a significant value. Bulls Failed to Sustain Bearish Pressure Even though the bulls tried their best to fight the bears at the same level but…
Global bitcoin mining firm, Bitfarms has launched its operations in the mining megafarm that it set up in Argentina. Launched on September 16th, the new mining facility is now generating about 10 ]MWof mining power in the initial phase, but it expects to expand and become fully operational in the next year. According to the…
Thousands of global computers have been invaded by crypto mining malware. This particular malware has been running since 2019 and is using these computers for mining the privacy coin Monero (XMR). Crypto mining malware Last Monday, a report was published by Check Point Research, which shed light on the activities of a cryptocurrency mining malware,…
Ethereum gas charges surge as NFTs saw tremendous growth in 2022’s first week. Non-fungible token projects on the Ethereum platform have reached nearly 250,000 transactions. A technical indicator shows that Ether bulls, contemplating reversing the underperformance period. Non-fungible tokens (NFTs) present continuous growth after tremendous upswings last year. The top NT market registered more than…
Kazakhstan saw protests recently following increasing electricity costs. The nation’s leading telecommunications provider halted internet access. BTC mining hashrate declined by 13.4% after the internet shutdown. Reports indicate Kazakhstan saw an internet shutdown on 4 January after fuel protests. That disrupted communications in the country on 5 January. Though the nation’s reigning cabinet resigned, shutting…
“None of the unauthorized or non-licensed or illegal crypto miners will be spared in Russia as the state authorities have been empowered under the new law to arrest them, prosecute them and send them to jails for serving imprisonment”, says a lawmaker from the Russian Federation. The lawmaker adds further that even those miners who…
A Brazilian Senator, Irajá Silvestre Filhothe, has motioned to see Bitcoin mining firms operating in the country using renewable energy sources to operate tax-free. The senator also called for the removal of taxes on the importation of Bitcoin mining equipment and the government changing its classification of crypto to view them as currencies. A media…
Implementation of the regulations on Russian crypto mining could provide significant advantages to both the native miners as well as the state. The State Duma, the Energy Ministry, and the Economic Development Ministry want the legalized status of cryptocurrency mining as a business to be controlled being an entrepreneurial activity, in Russia. Nonetheless, the central…
Despite China’s ban on Bitcoin mining, the business has expanded rapidly in the previous 5 months. Following China’s crypto ban earlier this year, bitcoin mining hash rate decreased by more than 50%, attributable mostly to the exodus of Asian crypto miners. Mining hashrate recovers after China’s ban on Bitcoin mining Data availability suggests that the…
China has issued a very hard stance on cryptocurrencies and especially Bitcoin. The country has halted all activities pertaining to Bitcoin mining, and therefore all miners with their equipment are forced to leave the country as soon as possible. Due to which many miners were able to successfully relocate their operations to more friendly frontiers…
As Bitcoin enters its most exciting phase since its inception, it has become necessary for more mining facilities to be established. It has become increasingly expensive to mine bitcoin as the mining conditions have become more complex than it was a mere five years ago. For this reason, Bitcoin mining companies are adopting more efficient…
