In Q1 2023, the bitcoin miner’s net loss per share narrowed to 1 cent, from 8 cents the previous quarter. Source
Bitcoin Miner Bitfarms Accelerates 6 EH/s Hashrate Target As Quarterly Loss Per Share Narrows
Month: May 2023
BTC Rebounds From 2-Month Low, Climbing Back Above $27,000 – Market Updates Bitcoin News
Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start the week, as sentiment showed glimpses of shifting after last week’s bear run. Following a low of $26,762.25 on Sunday, BTC/USD raced to an intraday peak of $27,521.62 earlier in today’s session. The move saw the world’s largest cryptocurrency continue…
Bankrupt Crypto Lender Celsius Transfers $75M of Ether (ETH) to Staking Service Figment
According to data by crypto intelligence firm Arkham Intelligence, Celsius transferred some 40,928 ETH to a crypto wallet spread through fourteen transactions between May 10 and May 12. The account is owned by Figment, who deposited the funds into staking contracts, according to Ethereum blockchain explorer Etherscan. Source
Vice Media Files for Chapter 11 Bankruptcy
Before this announcement, Vice Media had begun to restructure its global organizational workforce. American-Canadian digital media company Vice Media Group has filed for Chapter 11 bankruptcy after several years of financial struggle. The company, which was valued at $5.7 billion in 2017, is currently worth less than $1 billion. Top executives of the media giant have failed to give any detailed evaluation of the company’s net worth. Vice Media’s lenders are planning to take on administrative control of the company through necessary filings. These lenders include Fortress Investment, Soros Fund…
Litecoin (LTC) on Bullish Run after Lightning Network Integration
Litecoin has been gaining some momentum since the start of the year with a focus on its next Halving event which is a few months away. Litecoin (LTC) is seeing a parabolic run through its price today as the protocol has unveiled a major milestone underpinning the network. As reported by several media today, Litecoin has also integrated the Lightning Network as it looks to leverage the ultimate scaling solution that has helped the Bitcoin network beat its congestion woes in recent times. The revelation of the Lightning Network integration…
Bitcoin (BTC) Bounces Back From Friday Lows
Bitcoin (BTC) has gained ground again after hitting lows of $25,800 late Friday, rising to $27,400 early Monday morning. Markets are preparing for a busy week ahead with U.S. retail sales data to be released Tuesday and Federal Reserve Chair Jereome Powell to speak on Friday. Stocks and commodities were also climbing early Monday. Some traders believe bitcoin’s holding of the $27,000 level over the past few days is setting the crypto up for a run to new highs. Among other crypto movers Monday, Lido DAO (LDO), a liquid staking…
BTC Above 200-Week Average as Dollar Index Rallies Most
“ I think the dollar is due for a bounce as markets take back some FED easing implied in the futures curve. My fundamental FX framework: currencies are driven by real growth differentials and political considerations over longer cycles, but in the short term, it’s all about playing relative central bank policy (changes in nominal rates). Depending on how violent the dollar upswing gets, it could cause some short-term damage to assets like commodities and crypto,” Ilan Solot, co-head of digital assets, derivatives engine at Marex, said in an email.…
Irish newspaper apologizes for misleading AI-generated article
An Irish daily newspaper apologized to its readers after it unknowingly published an article by a guest writer who had used artificial intelligence (AI) to pen the piece and their identity. In a statement from the Irish Times on May 14, the publication said it was a victim of “a deliberate and coordinated deception.” The editor of the publication, Ruadhán Mac Cormaic, acknowledged the need for stronger pre-publication controls and that: “It has also underlined one of the challenges raised by generative AI for news organisations.” The piece was initially…
South Korean lawmaker leaves political party amid crypto investment controversy
Kim Nam-kuk, a South Korean lawmaker, has announced his departure from the Democratic Party over his alleged crypto dealings while legislating on digital assets. The politician said that he will continue his fight to prove his innocence independently. According to Kim, his departure will relieve party members of the burden brought about by the controversy. He believes that the issues should no longer affect the party during a crucial time. While he is leaving the party, Kim highlighted that he will still support the political faction. Meanwhile, the politician also said that…
Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?
The Bitcoin network has recently faced a litmus test due to the increased demands of Ordinals and BRC-20 tokens being inscribed onto the blockchain. The resulting increase in fees and transaction congestion has frustrated the wider Bitcoin (BTC) community, considering some BRC-20 tokens involve memecoins that have attracted billions of dollars of capital in recent weeks. The Ethereum ecosystem has benefitted from the development of scaling solutions, which have brought massive improvements in network capacity and processing ability. Zero-knowledge proofs (ZK-proofs), in particular, have grabbed headlines over the past few months, with several…