Bitcoin drops 1.5% on US market open amid warning miners may 'capitulate' in months

Miners are still accumulating BTC so far, but continuing depressed prices may up-end the status quo this summer, new analysis says.

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Norwegian Crypto Miners Rejoice As Proposed Ban Rejected

On May 10, 2022, the parliament of Norway voted against a proposed ban on Bitcoin mining in the country. This was good news for crypto miners, who were relieved at the decision. Red Party (communist party of Norway) initially recommended a plan to restrict the Bitcoin mining activities in Norway in March 2022. However, the […]

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Bitcoin Mining Council thinks Tesla may accept BTC again for this reason

The Bitcoin Mining Council has released a report that confirms that 58. 4% of Bitcoin mining comes from a “sustainable electricity mix. ” Elon Musk famously said that Tesla would start accepting when  “there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

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Monero to Undergo Fundamental Update in May 2022

While Monero rallies for the last 2 months, miners are getting ready for a fundamental update

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Bitcoin MPI Spikes Up Suggesting Miners May Be Dumping

On-chain data shows the Bitcoin MPI has spiked up recently, suggesting that miners may have started to dump the crypto. Bitcoin Miners’ Position Index (MPI) Has Sharply Risen Recently As pointed out by an analyst in a CryptoQuant post, some data suggests BTC miners may have began to dump the coin following recent rally. The […]

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Bitcoin hash rate may see ‘small capitulation’ with difficulty set for new all-time high

Bitcoin network fundamentals appear more resilient than ever to attacks on miners‘ operations.

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How To Transfer Crypto (BTC, ETH, XRP etc) From Nicehash to Binance?

IMPORTANT WARNINGS Trying to deposit a non-supported token may result in the loss of tokens. Send a small test amount first Beware when choosing the network which you want to use for sending crypto How to Withdraw Cryptocurrency on Nicehash Nicehash is a known mining software platform where miners could use to direct their machines […] The post How To Transfer Crypto (BTC, ETH, XRP etc) From Nicehash to Binance? appeared first on CaptainAltcoin.

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Nvidia Hack: How Lapsus$ Demands May Strangely Benefit Crypto Miners

Last Friday, reports of a cyberattack on Nvidia broke out. America's leading chip manufacturer confirmed a blackout on its business operations for close to 48 hours and attempted to quell panic by assuring frantic users that the attack has no effect on its service to customers.

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Russian miners keep running, may see pivot to Bitcoin in response to sanctions

With sanctions coming from the U.S. and allied NATO nations, it is unclear how the local BTC sector and the broader market will be impacted.

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New tax proposal in Kazakhstan could push crypto miners out

Kazakhstan may soon prove to be a hostile location for crypto miners as the Asian country’s government has proposed a hike in its electricity tariff and taxes for crypto miners. The post New tax proposal in Kazakhstan could push crypto miners out appeared first on CryptoSlate.

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Another Bitcoin Blow As 2nd Largest Crypto Mining Nation, Kazakhstan Cuts Off Mining Energy Supply Till February

Kazakhstan officially shuts down energy for Bitcoin miners till February. The oil-rich nation is struggling to keep up with energy demands as BTC hash rate drops. Kazakhstan may stall bitcoins’ slow recovery with its shut down on mining activities.

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Iranian authorities ask miners to halt mining activities again – Here’s why

The Iranian government is worried some regions in the country may suffer blackouts when… The post Iranian authorities ask miners to halt mining activities again – Here’s why appeared first on Coin Journal.

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BTC Hash Rate Nearing ATH, Iceland Rejecting New Bitcoin Miners Due to Power Shortage

Bitcoin’s On-chain usage is also on an uptrend, with average active addresses topping 1 million, last seen in May. The post BTC Hash Rate Nearing ATH, Iceland Rejecting New Bitcoin Miners Due to Power Shortage first appeared on BitcoinExchangeGuide.

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Report explores discrepancies in different Bitcoin mining companies' performances

The exodus of Bitcoin miners from China to USA is generally hailed as a success. But this may be oversimplifying the real picture. A report by Arcane Research which compared mining stocks to Bitcoin rThe post Report explores discrepancies in different Bitcoin mining companies' performances appeared first on AMBCrypto.

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Puell Multiple Says Bitcoin Miners Don’t Want To Sell At This Level

The on-chain indicator Puell Multiple shows Bitcoin miners don’t have much incentive to sell at the current price level. Puell Multiple Values Are Still Relatively Low At The Current Level As pointed out by a CryptoQuant post, Puell Multiple values are still not too high, implying miners may not feel pressure to sell at the […]

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Miners have this role to play in pushing Bitcoin's price above $70K

Bitcoin has seen its own share of ups and downs since the beginning of this year. In fact, it massively rallied over the course of the year's first few months, before becoming a victim of May's flash The post Miners have this role to play in pushing Bitcoin's price above $70K appeared first on AMBCrypto.

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Governor of Siberian region warns of possible power outages due to illegal mining

The governor of the Irkutsk region in Russia complained to the government about illegal miners. Because of them, power outages may begin in the region.

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Hash rate and difficulty rebound shows miners have recovered from China exodus

Bitcoin mining profitability is up 275% since before the May 2020 halving.

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China Has More Heat In Store For Bitcoin And The General Crypto Market

China is relentless in its pursuit to push digital currencies out of investors’ sight. After it sent miners packing back in May, China is reiterating that it has more heat in store for the Crypto market.

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This Metric Suggests Bitcoin Miners Rarely Catch The Cycle Top

A look at the history of the Miner’s Position Index (MPI) would suggest Bitcoin miners usually sell before the bull run cycle top. The Bitcoin Miner’s Position Index Vs The Price For Various Cycles As pointed out by a crypto analyst on CryptoQuant, the BTC Miner’s Position Index may suggest that miners aren’t good at […]

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Iran’s crypto mining ban to be lifted in September

Iran’s state electricity company has just shared some good news for its local cryptocurrency miners, announcing that the mining ban is likely to be lifted come September. The Iran Power Generation, Distribution, and Transmission Company (Tavanir) previously prohibited mining on a country-wide basis earlier this year, in May.

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Bitcoin’s Difficulty Increases

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Bitcoin Miners’ Margins Rise Significantly Thanks to China Crackdown, But Ether Miners’ Revenue Outpacing BTC’s

Bitcoin miner revenue jumped 15. 8% in July to $971. 83 million. This increase in miner revenue came after three consecutive months of drop following the all-time high of $1. 75 billion in May. Daily bitcoin miner revenue (7DMA) is also on the rise since a low of $20.

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Ethereum London Upgrade with EIP 1559 Activates, About 300 ETH Burned in Just an Hour

The much anticipated London hard fork with EIP 1559 has been activated at block 12,965,000. As of writing, 304. 9 ETH has already been burned. While the burning started fast, it may not continue at this rate as all the miners haven’t started mining 30 million blocks yet, so we are not at maximum capacity.

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Bitcoin (BTC) Mining Getting Greener as Chinese Miners’ Exodus Continues

The United States is now the new hotspot for bitcoin (BTC) miners who have been forced to leave China since May. The events of the past months have effectively crashed Bitcoin’s energy usage and experts have predicted that over 40 percent of the global hashrate by 2022, will be controlled by North America, thanks toRead More

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Why China’s Renewed Bitcoin Crackdown Isn’t Telling On Many Significant Levels

Even as Bitcoin attempts to gain a footing in the now downsized market owing to massive dumping witnessed in May following China’s ban on crypto-related activities, the PBOC seems not to be backing down on its move against Bitcoin miners and traders but instead, seems to have intensified its crackdown. On July 6, the Beijing […]

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Iran’s Vice President Orders Licensed Crypto Miners To Suspend Operations

As Iran’s electricity disruptions continue, the country's Vice President has now charged all Bitcoin miners to stop operations altogether. Electricity Crisis May Continue Until August The Vice President, Eshaq Jahangiri, said that the current electricity situation for Iranians is likely to continue until early August.

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An even bigger mining difficulty drop? 5 things to watch in Bitcoin this week

Bitcoin may be fresh from its biggest difficulty plunge ever, but estimates warn tat the next may eclipse even that as miners continue to struggle.

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After Ban, Chinese Bitcoin Miners Are Flooding the Market With GPUs

Getting your hands on a graphics card (GPU) has been near impossible with cryptocurrency mining and chip shortages eating up all available inventory and hiking prices to record levels. But there may soon be some respit.

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Bitcoin hash rate: Why it’s 'still crazy to see it playing out'

The computational power used for mining Bitcoin has collapsed 45% from its peak. In May, when the miners were witnessing high activity, the hash rate hit 180.6 TH/s. Source: Blockchain.com ThisThe post Bitcoin hash rate: Why it’s 'still crazy to see it playing out' appeared first on AMBCrypto.

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So, What Are Bitcoin Miners Actually Doing?

Let’s take a deeper look at what may appear as a magical process: bitcoin mining.

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Could Paraguay emerge as a Bitcoin mining hub after China crackdown?

Bitcoin miners were dealt a blow in May as the Financial Stability and Development Committee of the State Council of China announced further controls on financial risk. The post Could Paraguay emerge as a Bitcoin mining hub after China crackdown? appeared first on CryptoSlate.

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Bitcoin hashrate & miners: The good and bad you need to know

"Drop down" seems like a trend for Bitcoin at the moment: From its price 'dropping down' over the past few days, with Social Sentiment was also seen dropping since May 19th. Now hashrate was also, welThe post Bitcoin hashrate & miners: The good and bad you need to know appeared first on AMBCrypto.

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China turns off its miners - does price follow hash rate or hash rate follow price?

Multiple Bitcoin miners in China's Sichuan province were shut down over the weekend and Bitcoin's hash rate is down almost 30% since May. Will the price fall further as a result - and what is the correlation between hash rate and price?

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Why China’s Crackdown On Bitcoin May Be Just Beginning

Bitcoin mining activities might be coming to an end as the industry is used to knowing them. The Asian giant has decided to step up its regulations on this sector; many miners have decided to migrate to friendlier countries.

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Alibaba Cloud Says It May Stop Servicing Crypto Mining Companies in China

Chinese media sources state that Alibaba Cloud behemoth may stop providing services to crypto companies in China – that would hit Bitcoin miners but not exchanges

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Bitcoin miners can prove green potential by undergoing ESG ratings check

Bitcoin miners may opt for ESG ratings to prove “greenness” as environmental concerns loom over the entire crypto industry.

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El Salvador's president wants to build volcano-powered crypto miners

Bitcoin is heating up — some may say erupting — as the Latin American country plans to tap energy from volcanoes for mining the cryptocurrency.

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Death knell for Chinese crypto miners? Rigs on the move after gov’t crackdown

The latest events in China have pushed crypto miners to reevaluate domestic risk as they may now look toward international expansion.

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Bitcoin miners made over $1.4 billion last month, despite plunge

Despite the market crash, Bitcoin (BTC) miners appear only marginally affected with reduced revenues in May, according to data from analytics tool Coin Metrics. The post Bitcoin miners made over $1.

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GamerHash (GHX) Token Is Now Listed on Bitcoin.com Exchange

PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of GHX, being available to trade on the 27th May 2021 at 10:00AM UTC. GHX (GamerCoin) was created by the GamerHash team, as an incentive for the miners within the app and as a reward for carrying out the tasks on the Play&Earn module. GHX […]

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Elon Musk Meets Major North American Bitcoin Miners to Address Energy Usage

Following his earlier criticisms of Bitcoin’s energy usage, Tesla CEO Elon Musk has met with bitcoin miners in North America to promote the use of renewable energy for BTC mining activities.  New Bitcoin Mining Council Formed After Meeting Tweeting on Monday (May 24, 2021), Musk revealed that bitcoin miners based in North America were committedRead More

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Ethereum Miners Making Huge Gains Despite Crypto Market Bloodbath 

While the global cryptocurrency market is presently experiencing a serious correction, Ethereum miners have continued to make a fortune from their ether (ETH) mining activities. According to data released by The Block Research on May 23, 2021, ETH miners have generated about$1.

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Europe and U.S. may soon take the lead in Bitcoin mining, says major Chinese pool

Jiang Zhuoer, the operator of major Chinese mining pool Lebit Mining, argued that the latest crackdown on crypto in the country would likely lead to miners relocating their activity to Europe and the United States, as pointed out by journalist Colin Wu.

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How Another Chinese Power Outage May Have Led to Bitcoin’s Flash Crash This Week

Earlier in April, an accident at a Chinese coal mine in Xinjiang sent Bitcoin network’s hash rate plummeting 30% in a span of a day, which crippled the major cryptocurrency’s rally.  Now, Bitcoin’s hash rate is suffering a similar loss as miners based in Sichuan, China face limitations on power usage.  The State Grid in […]

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Major Metal and Mining Companies Use Blockchain to Trace Cobalt for Electric Vehicles

Some top metal and mining companies have come together to trace cobalt used in electric cars with the help of blockchain technology.  Tracing Cobalt With Blockchain  According to an official announcement on Thursday (May 20, 2021), Switzerland-based commodity trading and mining company Glencore, along with leading miners Eurasian Resources Group (ERG), CMOC, and battery materialRead More

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Ethereum Miners Earned $89 Million in Transaction Fees on May 10

On May 10, the Ethereum network generated roughly $89 million in transaction fees, the highest in its history. At this pace, the platform is on the course of printing $32.5 billion in fees, a gold mine for miners but a negative development for users who are increasingly shifting to layer two options. Ethereum is ActivityRead More

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Bitcoin Miners Moving Away from China, F2Pool Observes

For the first time in eight years, more hash rate was channeled from outside of China, the operator of one of the world’s oldest Bitcoin mining pool, F2Pool, notes as per a tweet on May 4. Bitcoin Hash Rate: The Shift in Distribution Bitcoin’s autonomy is because miners willingly channel computing power using expensive andRead More

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ByBit Set to Launch Mining-as-a-Service Product for Ethereum Miners

Cryptocurrency exchange ByBit has announced that it will launch a mining-as-a-service (MaaS) product dubbed ByBit Cloud Mining in May. Notably, the firm indicated that the cloud mining product will help anyone access the Ethereum mining industry without the need for hardware installation.

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