Tag: Mining

Electricity demand to double in 3 years. How AI and mining play a part

Electricity demand worldwide could double over the next three years, mainly due to cryptocurrency mining and artificial intelligence. How will crypto keep up? AI and cryptocurrencies accounted for almost 2% of global electricity demand in 2022, which illustrates the scale of their energy impact. This increase is mainly due to the growing complexity and volume of computing operations for artificial intelligence and the ever-increasing number of cryptographic transactions. According to a recent report from Bloomberg, which cites the International Energy Agency, global demand for electricity from data centers, cryptocurrencies, and…

X Mining could reshape Bitcoin mining via staking

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. X Mining, a Bitcoin mining infrastructure designed to democratize the process of Bitcoin mining, is launching early access to Bitcoin mining profits. The X Mining stake-to-mine The Bitcoin mining space is full of expensive mining rigs and a lot of technical knowledge that is expensive, complex, and energy intensive.  These are the problems the X Mining project is designed to solve using a “stake-to-mine” model that makes mining on…

Swan Bitcoin Unveils BTC Mining Unit as Parent Company Prepares to Go Public

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The miners have faced a brutal crypto winter as their revenue is directly correlated to the price of bitcoin. At the depth of the bear market, many large miners, such as Core Scientific (CORZ), went bankrupt, and others barely hung on. However, the recent rally in bitcoin price, helped by the spot bitcoin ETF, has helped the mining economics and even seen companies, such as Core, coming out of bankruptcy. Original

Bitcoin mining stocks rise as S&P 500 and Dow Jones hit all-time high

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Marathon Digital, Riot Blockchain, and other public Bitcoin mining companies witnessed positive returns on Monday as Wall Street reached new milestones. The top five largest Bitcoin mining firms by market capitalization saw gains ranging from 2.98% to 6.25% on Monday evening, coinciding with record highs set by the S&P 500 and Dow Jones. While no crypto-related companies are directly listed in these indexes, the overall market excitement appears to have influenced investor sentiment. According to data from CompaniesMarketCap, Bitdeer Technologies Group (BTDR) is the main gainer, showing a 6.25% price…

Bitcoin mining reaches new all-time high of 54% renewable use

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A recent report indicates a significant surge in sustainable energy use for Bitcoin mining. The report, released on Jan. 18 by Bitcoin (BTC) environmental, governance, and corporate governance (ESG) analyst Daniel Batten, is based on data from the BEEST model and an in-depth analysis of publicly available information, highlights that Bitcoin mining’s sustainable energy usage has soared to an unprecedented 54.5%, marking a 3.6% increase over the calendar year 2023. The Bitcoin ESG Forecast’s blog article emphasizes the substantial progress made over the past four years, comparing Bitcoin’s sustainable energy…

Bernstein Says Buy the Dip in Bitcoin Mining Stocks Ahead of BTC Price ‘Inflection’

However, this underperformance might provide a window for investors looking for an opportunity to buy into mining stocks. “Just like bitcoin, the next two months offer a dip buying opportunity in bitcoin miners,” as the stocks will offer “higher beta trade” to the next bitcoin price inflection, analysts Gautam Chhugani and Mahika Sapra wrote. There may be a further temporary weakness in bitcoin, with a potential short-term bottom in the $38,000-$42,000 range for the world’s largest cryptocurrency, the report said. Still, investors should be “structurally long” ahead of the next…

How profitable is Bitcoin mining in 2024, will you gain or lose money?

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Is individual Bitcoin mining still profitable? Our analysis of average costs post-halving may bring disappointing news. To figure out if mining Bitcoin for profit is worth it after the halving in 2024, we looked at a few important factors and conditions. Bitcoin price: The price of Bitcoin significantly influences Bitcoin mining profitability. It may undergo changes, but for this analysis, we consider the current market price as of Jan. 16, which is around $43,000. Mining hardware specifications: Model: Whatsminer M53S++, a popular choice among BTC miners. Hashrate: 320 TH/s, indicating…

Buy dip in these bitcoin mining stocks over next two months

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Bitcoin miners have tumbled since last Thursday, following the launch of spot bitcoin exchange-traded funds . However, for some mining stocks, any weakness in the coming weeks is an opportunity, according to Bernstein. The declines are in part due to the pullback in the bitcoin price, which is down roughly 6% in the same period. In a Monday note to investors, Bernstein also pointed to lower investor appetite for mining stocks as a bitcoin proxy now that ETFs have entered the market. However, Gautam Chhugani, lead crypto analyst at Bernstein,…