Cryptocurrency Analysis and News Portal
Bitcoin miners are dealing with lots of pressure following the recent difficulty adjustment increase on Nov. 20, 2022, and the leading crypto asset dropping further in value against the U.S. dollar following FTX’s collapse. Statistics recorded this past weekend show that bitcoin’s average cost of production has been a lot
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On Sunday, Nov. 20, 2022, Bitcoin’s difficulty rise erased the recent 0.20% decline recorded two weeks ago, as the difficulty metric rose by 0.51% at block height 764,064. The increase on Sunday has pushed the difficulty rating to another all-time high, from 36.76 trillion to the current 36.95 trillion. Bitcoin Difficulty
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Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services. New Attempt to Legalize Cryptocurrency Mining in Russia After months of deliberations,
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A bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 that would legalize cryptocurrency mining and the sale of the cryptocurrency mined. Cryptocurrency cannot currently be used for settlements in Russia. The proposed law reads, “Digital currency obtained as a result of mining can
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The financing was a combination of senior debt and equity capital and included some returning investors such as Kestrel 0x1 as well as new ones, including Shima Capital, the company said in a statement. The startup has also bought Hydrokraft AS, a renewable energy-based data center in Norway, without disclosing
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According to its second-quarter (ending Sept. 30) earnings presentation released on Nov. 15, Vancouver-based digital assets mining company Hive Blockchain’s revenue declined by 44% year over year to $29.6 million. During the same period, the company’s net income also decreased from $59.8 million in the prior year’s quarter to a
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In the same quarter, TeraWulf significantly increased its hashrate, or computing power, and energy capacity that could be used for deploying mining machines. About 50 megawatts (MW) of power were brought online at its mining facility in Lake Mariner in upstate New York. The company had 11,000 miners operating at
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The Merge forced miners to shift to alternative GPU mineable cryptocurrencies, a newly forked version or dump or sell their equipment at a low price. Shift to alternative GPU mineable cryptocurrencies One of the direct effects of the Merge includes miners turning to the Ethereum fork, Ethereum Classic (ETC),
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"The bitcoin mining market deteriorated during the third quarter, as the bitcoin price fluctuated and further dipped to around sixteen thousand dollars recently," CEO Nangeng Zhang said in the statement. "The negative market dynamics have significantly hindered bitcoin miners' revenues and cash flows. As miners are forced to cut their
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On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.” The update
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