Spot Bitcoin ETFs in the United States hoovered up a whopping 51,500 BTC in December while only a fraction of that was produced.
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Hashrate dominance continues to be debated due to the pseudonymous and geographically distributed nature of Bitcoin mining.
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The cloud mining firm will be buying the latest Bitmain S-series miners, including the higher hashrate S21 XP and S21 Pro models.
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BTC miners have reaped the benefits in 2024, but their earnings are tiny compared to Bitcoin’s giant market cap.
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Hut 8 has argued a lawsuit from its shareholders arose “from a short seller’s attempt to obtain a monetary gain on its short position” in the crypto miner.
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Crypto mining hardware typically has a lifespan between 3-5 years on average and must be periodically upgraded to maintain profitability.
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Bitcoin celebrates 12 years since its first halving event, with block rewards shrinking to 3.125 BTC and miners adapting to higher difficulty amid rising prices.
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Bitcoin unexpectedly fell under $92,000 on Nov. 25. Do bulls still have a chance to rally to $100,000?
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Data suggests Bitcoin’s all-time high rally to $93,400 is far from over.
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CleanSpark CEO Zach Bradford said it was a strategic move for the firm to increase its mining capacity in Tennessee.
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