3 charts showing this Bitcoin price drop is unlike summer 2021
Bitcoin looks like a different planet this year, according to several popular on-chain metrics. Go to Source Powered by WPeMatico
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Uzbekistan warms up to Bitcoin mining, but there’s a catch
The executive order spares all the mined assets from taxation and bans mining anonymous currencies. Go to Source Powered by WPeMatico
Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K
The key to survival for Bitcoin miners boils down to the delicate balance between the revenue and the operating cash flow. Go to Source Powered by WPeMatico
Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales
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
China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’
Stablecoins like USDT and USDC would be doing just fine if properly regulated, while Bitcoin is a “Ponzi scheme” in any case, China’s BSN chair told Cointelegraph. Go to Source Powered by WPeMatico
Mining Ban Sparks Negative Reactions From Iran’s Crypto Community
The recently reintroduced seasonal ban on cryptocurrency mining has provoked backlash from the local crypto community. This week, the country’s power distribution company ordered miners to suspend activities citing electricity shortages during the hot summer months. Restrictions on Crypto Mining Are Ousting Iran From Global Coin Minting Industry, Critics Say After last year crypto miners … Read more
Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital
Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast … Read more
Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop
The Bitcoin network recorded the year 2022’s lowest power demand of 10.65 gigawatts (GW). At its peak, the BTC network demanded 16.09 GW of power. Go to Source Powered by WPeMatico
Uganda’s gold discovery: What it could mean for crypto
Is gold becoming inflationary? Can Bitcoin replace it as a store of value due to its scarcity and reliability? Are Uganda’s numbers implausible? Questions arise. Go to Source Powered by WPeMatico
Bitcoin miner ‘capitulation event’ may have already happened — research
Investigative work argues that on-chain metrics are proving miners have capitulated, while whales appear to be lone Bitcoin dip-buyers. Go to Source Powered by WPeMatico