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During the first week of August 2024, Bitcoin’s hashprice—a key metric that gauges the daily value of one petahash per second (PH/s) of hashpower—dipped to its lowest point in history, sliding below $38 per PH/s. In this fiercely competitive bitcoin mining arena, only the most resilient operations can thrive, with the best-performing machines bringing in … Read more
This week’s Crypto Biz examines Hong Kong’s crypto ETF market, Morgan Stanley’s green light for Bitcoin funds, Xapo Bank license in the UK, and Core Scientific’s billionaire deal with CoreWeave. Go to Source
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system. Go to Source
Reduced block rewards post-halving and Bitcoin mining difficulty reaching new heights are eating away at miner revenues. Go to Source
According to one expert, bitcoin currently needs to trade above $55,000 for miners to break even and $94,000 for them to return to profitability levels seen before the halving. To compensate for the revenue loss caused by the halving of Bitcoin’s block reward, miners are resorting to mergers or hostile takeover of rivals. Others have … Read more
Genesis Digital Assets Limited (GDA) has embarked on a new project in Norsjö, Sweden, utilizing surplus heat from one of its bitcoin mining data centers to warm a local garage. This collaboration with Swedish company Muttern Fastigheter showcases an innovative approach to enhancing energy efficiency within the industry. GDA and Muttern Fastigheter Collaborate on Sustainable … Read more
Marathon Digital holds over $1.1 billion worth of Bitcoin after the company decided to go full ‘HODL.’ Go to Source
In July, bitcoin miners earned $951.11 million, marking the lowest monthly revenue of the year. Out of this total, $24.9 million was generated from transaction fees, reflecting a trend of low onchain fees. July Bitcoin Mining Revenue Plummets to a 2024 Low The month was particularly challenging for bitcoin miners, as earnings hit their lowest … Read more
CleanSpark announced it increased its treasury holdings by 567% when compared to the same period last year. Go to Source
Bitcoin’s network difficulty rose by over 10.5% on Aug. 1, 2024, breaking a three-month-long downward streak to mark a new all-time high. Go to Source