Toronto-based Bitcoin mining company Bitfarms has announced the termination of its interim president and chief executive officer (CEO), Geoffrey Morphy after he filed a $27 million lawsuit against the company. According to Bloomberg, the lawsuit alleges breach of contract and “wrongful termination” and seeks compensatory and punitive damages. Bitfarm believes the claims are without merit […]
On-chain data shows that, for the first time in history, Bitcoin miners require more than 1 EH/s of daily computing power to mine just 1 token of the asset. Bitcoin Hashcoin Has Set A New All-Time High Now As explained by CryptoQuant head of research Julio Moreno in a post on X, the BTC Hashcoin […]
Data suggests the hype around the new Bitcoin Runes has severely dropped, something that’s not a good sign for miner revenues. Bitcoin Halving Effect Settles In On Miner Revenue As Runes Interest Drops A few days back, the much-anticipated Bitcoin Halving went through. Halvings are periodic events coded into the blockchain in which the BTC […]
On-chain data shows the Bitcoin miner revenue percentage from the fees has exploded recently. Here’s what’s behind this sharp growth. Bitcoin Runes Have Caused A Sudden Shake-Up In Miner Revenues A couple of days ago, the much-anticipated fourth Halving, a periodic event taking place roughly every four years where block rewards that miners receive for […]
With the Bitcoin halving coming soon, miner expenses are about to change. Here’s, in numbers, how the floor prices would stand for popular rigs. Bitcoin Halving And Its Influence On Floor Prices Of Mining Machines The halving is a periodic event on the Bitcoin network where the block rewards received by the miners for successfully […]
Nestled in the Himalayas, Bhutan, known for its focus on Gross National Happiness, is making a bold wager in the world of cryptocurrency. The country is rapidly expanding its Bitcoin mining capabilities in anticipation of the upcoming halving, an event programmed into Bitcoin’s code that cuts the number of new coins awarded to miners in […]
On-chain data shows the Bitcoin difficulty has seen a drop in the latest network adjustment, suggesting the miners have stopped their expansion. Bitcoin Difficulty Drops 1% As Hashrate Remains Flat The “difficulty” is an in-built feature of the Bitcoin network that controls how hard the miners would find it to find blocks on the chain […]
The Bitcoin halving, one of the most anticipated crypto events in 2024, is less than a month away, and miners seem to be in full preparation for its aftermath. The April event is expected to slash mining rewards on the Bitcoin network in half, making the validation of transactions less lucrative. As of now, miners […]
As the countdown to the fourth Bitcoin halving approaches, scheduled around April 19th, 2024, miners are bracing for significant changes in their operations. The halving, which occurs approximately every four years, marks a pivotal event in Bitcoin’s economic landscape, impacting both miners’ revenues and the network’s security. Currently, miners receive 6.25 bitcoins as a reward […]
On-chain data shows the Bitcoin miners have just witnessed their second highest revenue day in the entire history of the cryptocurrency. Bitcoin Miners Just Raked In Almost $76 Million In Total Revenue As pointed out by CryptoQuant head of research Julio Moreno in a new post on X, the BTC miners have recently seen daily […]
The US Department of Energy (DOE) and Energy Information Administration (EIA) have scrapped their emergency survey of Bitcoin mining’s power usage following a lawsuit from industry groups, Reuters and other news outlets reported. This move comes amidst growing scrutiny over the energy consumption of cryptocurrency mining and its potential impact on the environment and power […]
Since the crypto mining ban in China in 2021, the US has become one of the largest mining hubs for Bitcoin miners. However, regulatory agencies have tightened their measures to increase their oversight over the industry. Last month, one of the US Government agencies issued an emergency approval for the “EIA-862, Cryptocurrency Mining Facilities Report.” […]