Bitcoin miners’ BTC reserves are at their lowest since December 2021, data shows, despite a dramatic hash rate renaissance.
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Bitcoin miners’ BTC reserves are at their lowest since December 2021, data shows, despite a dramatic hash rate renaissance.
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Bitcoin starts 2023 with a whimper as volatility stays absent and BTC price tips favor fresh downside to come.
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While 2022 proved catastrophic for investors across traditional and crypto markets, the crypto ecosystem’s potential has shined through the cracks of inflation and centralized custody of assets.
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BTC.com, the seventh-largest Bitcoin mining pool, said that its client fund services are unaffected by the recent $3 million cyberattack.
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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 Australian mining firm has had to unplug hardware that was producing “insufficient cash flow” to service its “debt financing obligations.”
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Only once before has BTC been such good value versus hash rate — and that was long before even the 2017 all-time high.
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Big Oil’s influence over the Bitcoin network is growing stronger due to surging hash rates and distressed mining companies.
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Miners may hit pause on the good times for BTC price action, one theory believes, as the weekend promises support tests.
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Efforts to keep Bitcoin mining operations afloat may end up stressing the spot BTC price further lower.
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