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Mike Alfred, co-founder and CEO of data analytics outfit Digital Assets Data, recently pointed toward miners as a potential catalyst for recent Bitcoin (BTC) price activity. “It is tough to say definitively, but it appears as though the miners' actions are having a direct, immediate impact on price,” Alfred told Cryptox
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Bitcoin miners suffered a 23% drop in revenue during June, resulting from lower network fees and a reduced block subsidy after the halving in May. Down from $366 million in May, bitcoin miners generated an estimated $281 million in revenue in June, a three-month low according to Coin Metrics data analyzed
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U.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc.The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a statement on June 29. The miners will be fully installed
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Bitcoin (BTC) begins a new week in uncertain times after regaining $9,000, but where is BTC/USD headed in the coming days? Cryptox Markets highlights five factors driving Bitcoin price action for the week ahead.Stocks optimism returns with $9KFollowing a major slide on Friday, stocks futures were gaining early on Monday, despite
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Bitcoin miners on Tuesday transfered nearly 3,000 bitcoin, worth around $28 million, directly into exchange wallets. Several thousand others were likely moved via over-the-counter (OTC) deals.Direct exchange transfers represent the largest flow of bitcoin (BTC) from miners to such platforms in over a year, according to Glassnode data.The bulk
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In summary:In the last 24 hours, Bitcoin has fallen from around $9,700 to a local bottom of $9,281.The team at Glassnode observed that June 23rd saw the largest flow of Bitcoin from miners to exchanges in over a year.2,650 BTC was transferred to Bitfinex during that time. Bitcoin’s journey to $10,000
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Argo has nearly doubled its mining capacity for zcash, possibly as it looks to diversify from bitcoin. The publicly listed mining firm has bought 750 Antminer Z11s, that specialize in the Equihash algorithm, for a total of $474,000. The rigs are now already in operation and were working at full
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Ethereum (ETH) miners are currently voting to expand the block gas limit from 10,000,000 to 12,500,000 gas, according to a recent tweet from Bitfly, the parent company of Ethermine pool.What is gas and the gas limit?Gas is a unit that measures the amount of computational effort required to send a
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Miner outflows of bitcoin have dropped to decade lows, with analysts suggesting a hoarding mentality is partly responsible. The seven-day average of the total amount of bitcoin transferred out of miners’ addresses declined to 987 on Thursday, hitting the lowest level since Feb. 3, 2010, according to data source Glassnode. The
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Speculation has been mounting around the upcoming protocol upgrade that Ethereum will go through. However, the price of the smart contracts giant seems to have leveled off as it continues consolidation within a $25 trading range for over the past few weeks.The ongoing stagnation phase is forcing the Bollinger bands
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