Cryptocurrency Analysis and News Portal
In July, Bitcoin mining stocks continued their positive 2023 run, with the top 10 stocks by market cap gaining 23.10% on the month on average, with a year-to-date return of 277.34%.In comparison, the Bitcoin (BTC) price lost 3.59% in July as it failed to build support above $30,000 for the sixth week
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Authorities in the town of Miri on the island of Borneo shut down an illegal cryptocurrency mining operation and seized equipment following a tip-off from the public.According to local news outlet The Borneo Post, Sarawak Energy discovered the operation, which included 34 cryptocurrency mining servers operating using stolen electricity through cable
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Miners, however, have always been aware of the timeline surrounding mineable Bitcoin as first outlined in Satoshi Nakomoto’s white paper. The beauty is that we have created a playbook for bridging emerging technology, institutional investment, and alternative sources of energy, while providing economic opportunities to the communities who welcome it.
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While capital is useful, equity markets are not dissimilar to the token markets many miners disparage. Retail investors huddle in Telegram groups, poking and prodding for updates from each firm, urging one another to “hodl” the stock or trust the executives on the ground, only for the leadership team to
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Mining rigs are getting cheaper mainly due to a decline in bitcoin’s hashprice, the revenue miners generate per terahash of computing power. This measure of profitability, which factors in Bitcoin’s network difficulty, price, energy costs, block subsidies and transaction fees, has been “choppy and steadily decreasing” in the past year,
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“The reputational shadow [of cloud mining] has been a stain on our entire industry,” says Kent Haliburton, President and COO of Sazmining, a hosted miner (for an explanation of the difference between hosted and cloud mining, see below). “Because so many people have gotten hurt and hosed. We said, if
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We have witnessed in recent months, a number of Texas based miners have been using energy strategies to increase their revenues. Riot Platforms has taken advantage of being active in the Electric Reliability Council of Texas (ERCOT) market, supplying power when needed and switching off their systems to help balance
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That’s the key word here: diversify. For mining-focused companies like Hut 8, Applied Digital, Iris Energy, and potentially Mintgreen, the idea is not a complete pivot from bitcoin to AI, but rather creating a broader portfolio that’s more durable in a bear market. “We need to have multiple revenue streams,”
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Several counties in the U.S. state of Arkansas are rushing to pass emergency legislations allowing them to control noise and other activities related to crypto mining before a new state law comes into effect on August 1, according to local media reports. The new state law brings crypto mining facilities under
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Bitcoin (BTC) miners have been up against the ropes over the past year, with record amounts of BTC sent to centralized exchanges to cover costs in 2023.As Cointelegraph previously reported, the Bitcoin mining ecosystem has had an eventful year. The industry scored a staggering $184 million from transaction fees in the
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