Miners’ profitability has been hit as the daily revenues fell from $78 million pre-halving to $26 million currently, one market analyst noted. Original
Drop in Bitcoin Mining Difficulty 'Comparable to FTX Collapse,' CryptoQuant Says
Tag: Mining
2024 Republican Platform Defends Bitcoin Mining and the Right to Self-Custody Crypto
The Republican Party has integrated cryptocurrency issues into its 2024 platform titled “Make America Great Again.” The document outlines the party’s intention to “end Democrats’ unlawful and unAmerican crypto crackdown” on law-abiding citizens. Republican Party Integrates Cryptocurrency Into 2024 Platform As the 2024 U.S. general election nears, cryptocurrency and blockchain topics have become significant policy […] Original
Bitcoin Mining Difficulty Crashes 5% To Lowest Level In 3 Months, What Happens Next?
Recent data shows that the Bitcoin mining difficulty is on the decline and has hit its lowest since May. This is significant considering what this could mean for the Bitcoin ecosystem, specifically Bitcoin’s price. Bitcoin Mining Difficulty Drops To 79.5 T Data from CoinWarz shows that Bitcoin mining difficulty has dropped to 79.5 T at block 851,204 and hasn’t changed in the last 24 hours. This mining difficulty has continued to fall for a while, with further data from CoinWarz showing that it is down 5% in the last seven…
Rising Power Fees Begin to Drive Bitcoin Mining Companies From Paraguay to Argentina
The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining companies seeking alternatives in neighboring countries, such as Argentina and Brazil. A joint venture between Argentine and Brazilian companies recently announced an 8 MW initiative aiming to generate 200 MW by 2026, and more will migrate according […] Original
Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies
Marathon mined the most bitcoin in June, 590, though that was 4% fewer than in May. CleanSpark (CLSK) mined 445 tokens, an increase of 7%, the report said. Marathon’s installed hashrate remained the largest of the U.S. listed miners, at 31.5 exahashes per second (EH/S) with Riot Platforms (RIOT) second with 22 EH/s, the report added. Original
Latam Insights Encore: Paraguay Anti-Bitcoin Mining Stance Is a Net Negative for the Nation’s Development
Welcome To Latam Insights Encore, a deep view of Latin America’s most relevant economic and cryptocurrency-based news last week. In this edition, we examine the possible outcomes of the war that Paraguay is waging on illegal (and now legal) bitcoin mining operators, and how this might make the country lose millions of dollars as miners […] Original
Latam Insights: Paraguay Raises Bitcoin Mining Power Fees, Bolivia Praises Stablecoins as Dollar Proxy
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay raises bitcoin mining power fees, Bolivia talks about the utility of stablecoins as dollar alternatives, and Kavak tokenizes debt in Brazil. Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping […] Original
Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground
Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […] Original
Bitcoin mining stocks slumping in pre-market trading
Many U.S.-based crypto mining stocks are reflecting Bitcoin’s weakness and are trading down close to 10% in premarket trading. Marathon Digital Holdings (MARA) is down 6.5%, while Hut 8 (HUT) is down 8.1% at the time of writing. Michael Saylor’s software company MicroStrategy (MSTR), which holds over 210,000 BTC, is down 6.4% at the time of writing. The recent drop in stock prices occurred after Mt. Gox transferred $2.6 billion worth of Bitcoin (BTC) to a new wallet in preparation for repaying creditors. This drop follows a 10% decrease…
Bitcoin Mining Rigs Chalk Up Losses as BTC Slumps to $54K
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