A federal judge has temporarily halted Arkansas laws targeting foreign crypto mining firms, citing potential constitutional violations.
Mara Holdings has secured $1 billion through convertible notes for strategic debt management and aggressive Bitcoin investment.
Russia has taken steps to limit cryptocurrency mining in specific regions to address potential energy shortages during the winter months. The government commission overseeing the country’s energy management announced a seasonal ban on mining activities in several Siberian regions. Reason Behind The Seasonal Bans? According to the report, the seasonal bans in multiple Siberian regions […]
Russia is poised to implement a 15% tax on all crypto mining and trading activities. The move aims to foster a regulatory framework that supports the growing digital asset industry. 15% Tax On Crypto Trading And Mining Activities According to Interfax, the Russian Government has approved draft amendments to the bill on taxation of income […]
Police and electricity authorities in Thailand have launched a series of crackdowns targeting illegal cryptocurrency mining operations accused of stealing massive amounts of electricity. Raids conducted in Chachoengsao and Surat Thani provinces led to multiple arrests and the seizure of mining hardware worth millions of baht. Related Reading: Binance Targets Thailand’s Crypto Oasis As Launchpad […]
While both Hut 8 and Irish Energy expanded operations, they reported contrasting results in Bitcoin production efficiency.
The cryptocurrency mining in Russia has reached an industrial boom, whereby the number of Bitcoins minted by industrial miners reportedly reached about 54,000 Bitcoins this year. Related Reading: Stock Market’s $1.05 Trillion Wipeout Puts To Test Bitcoin Stability – What’s Next? Translated, this is about $3 billion, showing how big the industry has grown. As […]
Bitdeer Technologies Group’s stock price dropped to $6.33 after it announced a senior convertible notes offering.
August will be a more difficult month for the miners as the price of bitcoin has dropped about 5% while the network hashrate has started to grow again, the report said.
On Monday, Bitcoin, the largest cryptocurrency asset, suffered a major decline, which saw its price dropping as low as $49,000 due to a broader market decline triggered by Japan’s stock market downswing. However, following the black Monday event, the crypto asset has recovered strongly, surpassing major assets in the world like the Nasdaq Stock, as […]
The US miner is now the second-largest by market cap, after flipping Riot Platforms.
Senator Warren has lambasted foreign-owned crypto miners in the country, saying they’re loud, hot, and “suck up a ton of electricity, which can crash the power grid.”
Following the investment, Tether expects close collaboration with Bitdeer across several key infrastructure areas, CEO Paolo Ardoino said.
Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies.
Venezuelans, once seeking solace in the digital gold rush, now face a harsh reality. The country, grappling with hyperinflation and economic instability, has banned all crypto mining farms connected to the national grid. This decision, announced by the Venezuelan National Power Ministry, prioritizes the crumbling power grid over the once-booming crypto industry. Related Reading: X […]
Over the last couple of years, the US government has tried to tighten its grip on different sectors of the crypto industry. As a result, these efforts have received significant backlash from politicians and central figures within the crypto space. This week, another crackdown on the crypto industry occurred after Arkansas lawmakers approved two bills […]
Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law which will regulate miners’ noise, water use and licensing.
The SEC alleged Geosyn Mining’s co-founders misappropriated $1.2 million of its investors’ funds, spending it on holidays, nightclubs and firearms.
Pre-halving Bitcoin miner reserve sales and the U.S. spot ETFs have mulled any negative Bitcoin price action after its halving, says Bitfinex.
The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what could very well be the reason for this price dip in the middle of all the excitement around the halving. Related Reading: Ethereum Fueled Up: Will 320 Million USDT Inflow Ignite Price Surge? Particularly, data has revealed that some miners have been selling their holdings in the days leading up to the halving event, with the entire BTC holdings of miners hitting a 12-year low. Miners’ Bitcoin Holdings Hit 12-Year Low On-chain analytics platform IntoTheBlock noted this interesting trend amongst Bitcoin miners. According to the platform’s “Miners’ Bitcoin Holdings,” the collective BTC reserve across various miners has now dropped below 1.9 million BTC, its lowest in over 12 years. Interestingly, the metric shows that miner reserves have been on a continued trend of outflows since the beginning of the year, just after the approval of Spot Bitcoin ETFs. This means the outflow from miner wallets can be linked to increased demand from the various Bitcoin ETF wallets, with the latter now controlling over 4.27% of the total circulating wallets. As Bitcoin goes into the halving, miners’ BTC holdings hit 12 year low. This indicates that miners have been net sellers leading up to the halving. pic.twitter.com/WNi74RkluG — IntoTheBlock (@intotheblock) April 19, 2024 At the time of writing, CryptoQuant data puts the total number of miner reserves at 1.818 million BTC, a decrease of 22,000 BTC from 1.84 million on January 3. Additionally, this outflow from the miner reserves was exacerbated in the days leading up to the halving, as noted by IntoTheBlock. “This indicates that miners have been net sellers leading up to the halving,” IntoTheBlock said in a social media post. The persistent selling pressure exerted by miners may have been a contributing factor in Bitcoin’s stagnant pace between $65,000 and $70,000 over the past weeks. This outflow of BTC from miner wallets into the market seems to have flooded the market with more than enough BTC, which in turn contributed to a crash to $60,000 during the week. Bitcoin is now trading at $64.906. Chart: TradingView What’s Next For Bitcoin? The practice of Bitcoin miners selling their holdings in the days leading up to the halving is not unusual, as demonstrated by their actions in past halving events. At the time of writing, Bitcoin is trading at $64,978, up 8% after rebounding up at $60,000. The much anticipated fourth Bitcoin halving has now been completed and the industry looks forward to its effect over the next few months. Related Reading: Shiba Inu (SHIB) Price Jumps On Growing Support From 1.4 Million Holders The halving is ultimately a balancing act for miners. Although miners’ revenues are cut in half, the reduced Bitcoin supply and possible price increase can help offset some of the losses over time. According to a report, Bitcoin miners could sell up to $5 billion worth of BTC after the halving, with the price of the cryptocurrency potentially falling to $52,000. Featured image from Pexels, chart from TradingView
The digital gold rush is back on. With the next Bitcoin halving event just around the corner, excitement in the cryptocurrency world has reached a fever pitch. Google Trends data reveals a record-breaking surge in global searches for “Bitcoin halving,” with scores hitting an unprecedented 45 and analysts predicting a potential climb to a perfect […]
Prosecutors claim the “cryptojacking” scheme stole cloud computing resources to mine nearly $1 million worth of crypto.
Iceland, the volcanic island nation famed for its stunning landscapes and clean energy production, is embarking on a new chapter. In a move that highlights a growing global trend, The country is shifting its focus from supporting the cryptocurrency mining industry towards bolstering domestic food production. Iceland Pivots: From Crypto To Crops This strategic decision, […]
BTC mining stocks and MicroStrategy notch double-digit gains as Bitcoin price hits a 2-year high.
Conifex, a B.C.-based cryptocurrency mining company, challenged B.C. Hydro's 18-month moratorium on mining.