Old Bitcoin mining rigs risk ‘shutdown’ after BTC price slips under $24K
New generation Bitcoin mining machines would remain profitable even if the BTC price crashes by another 50%. Go to Source Powered by WPeMatico
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Here’s how blockchains are helping to advance the global energy grid
Governments and environmentalists are quick to criticize the amount of electricity Bitcoin mining uses, but investors’ growing interest in crypto is leading to positive steps in the energy sector. Go to Source Powered by WPeMatico
Swedish Central bankers snipe Bitcoin mining, cite rampant energy use
A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react. Go to Source Powered by WPeMatico
Bitcoin’s real energy use questioned as Ethereum founder criticizes BTC
A founding member of Ethereum has claimed that Bitcoin uses nearly 1% of the world’s electricity, but different sources put it substantially lower. Go to Source Powered by WPeMatico
Bitcoin Miners May Get Another Break This Week as Network’s Mining Difficulty Is Expected to Drop
Bitcoin miners may catch another break this week as the network’s mining difficulty is estimated to see a reduction tomorrow. Every two weeks Bitcoin’s difficulty adjustment algorithm (DAA) changes, and during the last DAA change, the difficulty dipped by 4.33%. Currently, at 235 exahash per second (EH/s), the network is expected to see a DAA … Read more
Kazakhstan’s central bank ‘isn’t going to ignore’ the crypto market
According to the chairman, the central bank will decide on implementing its own digital currency by the end of 2022. Go to Source Powered by WPeMatico
Director of Listed Chinese Company Embezzles $8 Million, Uses Funds to Purchase Bitcoin Mining Rigs
A Chinese prosecutor is reported to have given a thumbs up to the arrest of a listed big data company director accused of embezzling $8 million and using the funds to buy bitcoin mining rigs. Although Li Qunnan has denied the allegations, executives insist their evidence implicates him. Director’s Unsanctioned Use of Funds Discovered in … Read more
Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea
Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region. Go to Source Powered by WPeMatico
Traders think Bitcoin bottomed, but on-chain metrics point to one more capitulation event
BTC price gravitates around the low $30,000 zone, luring traders to believe the bottom is in, but data from glassnode warns of another final sell-off. Go to Source Powered by WPeMatico
New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Governor Hochul’s Signature
The state of New York passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon-based energy sources. The policy will place a two-year ban on proof-of-work (PoW) mining if the assembly bill is approved by New York governor Kathy Hochul. New York PoW Mining Moratorium Legislation to Be … Read more