Month: July 2024

Bitcoin miner Hut 8 secures 205MW site in Texas to upgrade its capacity to 1.3GW

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Hut 8 said it has entered into a power purchase agreement for a site in West Texas with access to 205 megawatts. Bitcoin mining company Hut 8 is gearing up to expand its infrastructure platform significantly with the latest agreement that gives the Miami-headquartered miner access to 205 megawatts in West Texas. In a Tuesday press release, Hut 8 said the site is adjacent to a wind farm and connected to the Electric Reliability Council of Texas grid, offering access to “some of the lowest locational wholesale power pricing in…

Bitcoin Price (BTC) Steady Above $57K as Germany Moves More to Exchanges

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Here’s How Much BTC They Have Left

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The price of Bitcoin has crashed again as the German government continues its BTC selling spree. The government has already sold millions of dollars worth of Bitcoin, putting immense pressure on the pioneer cryptocurrency amidst broader market volatility.  German Government Initiates Massive BTC Sell-Off Bitcoin’s consistent price decline has been driven by multiple factors including outflows from Spot Bitcoin ETFs, unfavorable market conditions and Mt Gox’s BTC redistribution plans. Lately, the cryptocurrency’s price has been further pressured by the substantial BTC sell-offs executed by the German government.  Related Reading For…

Bitcoin Regains $57K Following $300M of ETF Inflows

Bitcoin found some stability above $57,000 following Monday’s slide to $55,000 as a German government entity received over $200 million worth of the asset back from various exchanges late in the U.S. day, helping revive sentiment. BTC was trading around $57,400 during the European morning, an increase of 1% in the last 24 hours, having fallen to $55,000 on Monday after a wallet address belonging to the German Federal Criminal Police Office (BKA) sent over $900 million to various other addresses, spooking traders. In the past 12 hours, the entity…

Can Solana Hit $160? SOL’s Resilience Sparks Rally Optimism

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Currently, the price of Solana has been showing resilience amid market volatility. This recent performance of SOL has raised rally optimism among market participants as to whether the digital asset’s price could potentially reach the $160 mark in the upcoming days. Particularly, this article aims to provide technical insight on recent price performance and technical indicators that suggest the potential for the crypto asset to hit $160 focusing on the 4-hour and the 1-day chart.  At the time of writing, SOL’s price was up by over 7%, trading at about…

Bitfarms Leadership Change: Ben Gagnon Named CEO

Bitfarms Ltd. (Nasdaq: BITF), a global bitcoin mining company, has appointed Ben Gagnon as chief executive officer, effective immediately. Gagnon, previously chief mining officer, has significantly contributed to Bitfarms’ growth over the past five years, the company said. Chairman Nicolas Bonta praised his leadership and strategic impact, highlighting plans to leverage Gagnon’s expertise to diversify […] Source CryptoX Portal