Miners in Russia have likely been increasingly buying crypto ASICs due to reduced prices of mining devices as well as low-cost energy.
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Miners in Russia have likely been increasingly buying crypto ASICs due to reduced prices of mining devices as well as low-cost energy.
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Join us as we discuss the current state of the crypto market and whether there could actually be a silver lining to capitulation. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Magdalena Gronowska.
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Bankruptcies, shrinking profit margins and traders realizing hefty losses are all signs of capitulation from various market participants.
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The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500.
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The Sydney-based Arkon Energy secured $28 million in a recent funding round to expand its renewable energy Bitcoin mining operations despite the volatile market.
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