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Profitable bitcoin mining is essentially a result of an efficient and highly skilled team of professionals that can maintain runtime, a founder of a Bitcoin mining company has asserted. Therefore, even when the price is hovering around $20,000, a bitcoin miner with these attributes can still operate profitably. ‘Bitcoin Fundamentals Rarely Change’ The drop in … Read more
Bitcoin’s hashrate has declined in recent times after reaching an all-time high on June 8, 2022, at block height 739,928. 30-day statistics show the hashrate has slipped from 243 exahash per second (EH/s) to today’s 178.44 EH/s, losing 26.56% during that time frame. After two drops in a row, the difficulty adjustment algorithm (DAA) is … Read more
According to a new report, U.S. president Joe Biden and his administration are focused on proof-of-work (PoW) mining. The principal assistant director for energy for the White House Office of Science and Technology Policy (OSTP) discussed the research report on July 2, 2022. The OSTP official, Costa Samaras, said if digital currencies plan to stick … Read more
According to Lancium Inc., a crypto mining infrastructure firm, the company has signed a deal with the Texas battery-storage provider Broad Reach Power LLC. Broad Reach Power plans to supply battery power to Lancium’s Fort Stockton-based 25-megawatt facility and when the grid is swamped by excessive energy demand, Lancium can continue mining without reducing its … Read more
According to the lead rates and regulatory strategy analyst at Duke Energy Corporation, the second-largest U.S. energy corporation is currently studying bitcoin mining. Lead analyst Justin Orkney said that a bitcoin demand response (DR) study was being worked on and the energy firm is partnered with bitcoin miners that are enrolled in Duke’s DR programs. … Read more
The electronics giant and largest corporation in South Korea, Samsung, is in the midst of creating 3-nanometer (3nm) semiconductors for a Chinese application-specific IC firm, sources have said. The new chip design has caused speculation among the crypto community that it’s possible Samsung may be creating application-specific integrated circuits (ASICs) for bitcoin miners. Sources Say … Read more
Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are … Read more
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
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
During the last 30 days, the price of bitcoin has lost more than 22% against the U.S. dollar but during that time, Bitcoin’s hashrate has remained above 200 exahash per second (EH/s). While 16 known mining pools mined the leading crypto asset during the last month, the top five mining pools retained 71.4% of the … Read more
