Cryptocurrency Analysis and News Portal
Despite the Ethereum burn introduced with the London hard fork, miners are still making a good amount of revenue from mining. For ETH, the balance held by miners had been dropping since 2016. This was mostly a combination of poor market conditions and miners selling their holdings to fund their
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The amount of Ethereum that is being held by miners has reached record levels in U.S. dollar terms as they remain reluctant to sell.The balance held by Ethereum miners is the largest it has been since shortly after the network was launched five years ago. When converted into USD, it
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Adding to the trend, on Oct. 4, Canadian Hut 8 Mining Corp. also reported that all of its self-mined bitcoins were deposited into custody, which is consistent with the company’s strategy to “hodl” its mined digital currency. “We are thrilled with our current amount of bitcoin held in reserve as
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MicroStrategy Inc., often seen as a proxy for bitcoin, climbed 4.3%, while crypto exchange Coinbase Global, Inc. gained 3% and Robinhood Markets, Inc., where many users trade crypto, rose 2.8%. The wider S&P 500 index and the Nasdaq composite were also in the green on Tuesday. Source
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The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining
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Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees 7% Increase in Electricity
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Argo Blockchain, a London-based cryptocurrency mining company, has announced an expansion of its mining capacity that will more than double its current hashrate. The expansion will be done through the acquisition of 20,000 S19J Pro bitcoin miners from Bitmain, which will be delivered in several installments. These miners will populate
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An on-chain study released by Kraken Intelligence highlights strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5.Ethereum miners accumulated an additional 2 million Ether (ETH), worth $6.1 billion, after the so-called London hard fork’s activation.
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Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building.According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will
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On Bitcoin’s 12th anniversary, a mystery miner from the early days spent 1,000 decade-old bitcoins that were mined in 2010. The strange miner was not the only entity that spent 2010 BTC block rewards during the last nine months, but this miner returned on a few occasions to spend strings
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