Bitcoin’s transaction activity has cooled amid the recent lull in price action – and that’s hurting miners’ earnings. Source link
Miners
26 posts
Filecoin, a decentralized storage network launched by Protocol Labs, is off to a rocky start after a strike by miners just one day after its highly anticipated miannet launch on Oct. 15. Five of its largest miners turned off their machines to protest the project’s “unfair” economic model that requires a significant amount of FIL tokens to start mining operations, according to a report by 8btc.com. […]
A first-of-its kind service wants to play matchmaker between big-scale mining facilities and individual miners looking for a hosting setup. Bitcoin mining company HASHR8 just launched its Compass platform, a search engine of sorts for individual miners to shop for a hosting facility to operate their mining hardware for them. While mining farms hosting solo miners’ machines is nothing new, Compass is the first service to […]
Ethereum miners are signaling their disapproval of a technical proposal advocated by top Ethereum developers, a new survey shows. Eight of the nine mining projects partaking in a community survey on Ethereum Improvement Proposal (EIP) 1559 had a negative impression of the proposal, with seven of the nine saying they would refuse to implement the EIP if it were included in a future hard fork. EIP […]
The Australian government is investing big in modern technology, Nasdaq saw its first crypto exchange operator listing and revenues are surging for Ethereum miners amid increased network activity. Top shelf Australia modernizesAustralia will commit A$800 million (US$575 million) to invest in digital technologies as part of its coronavirus recovery plan, Prime Minister Scott Morrison announced Tuesday. The federal plan will see US$256.6 million for a digital identity solution, […]
The Russian Ministry of Finance has drawn up a new draft bill that echoes a previous attempt to outlaw cryptocurrency use and, if passed, would have a major impact on the nation’s crypto miners. The document, sent by the ministry to other government branches for feedback, states that miners located in Russia and using Russia-based infrastructure may not be rewarded for their work in cryptocurrency, according […]
Bitcoin took a dive Wednesday. Ethereum miners are benefiting from all that DeFi. Bitcoin (BTC) trading around $11,396 as of 20:00 UTC (4 p.m. ET). Slipping 4.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,159-$12,058 BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians. Bitcoin trading on Coinbase since August 31.Source: TradingView Read More: Bitcoin Price Drops 4% […]
Mongolian authorities have put the kibosh on cheap electricity for crypto miners, Venezuela is seeing healthy crypto use outside government-approved exchanges and a “critical bug” has left 13% of Ethereum nodes useless. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Bakkt’s back?Growing […]
Bitcoin miners are holding more bitcoins than at any point in the past two years as the cryptocurrency continues to trade above $11,000, signalling increased bullishness about future gains. According to wallet addresses tracked by Glassnode, miners are holding a total of more than 1.82 million bitcoins, setting a two-year high and continuing a noticeable upward trend that began in September 2019. In just the last […]
The rain has come. The machines are humming. This should be the best time of the year for China’s bitcoin miners. The monsoon season, generally from June to October, brings excessive rain and thus cheap hydro electricity. But this year is different, proving to be harder than ever for China’s bitcoin miners and mining farm operators who are estimated to dominate 65% of the global multi-billion […]
Bitcoin miners enjoyed a 7% increase in revenue during July, driven by higher network fees and increased transaction volume as bitcoin (BTC) rallied to new yearly highs above $11,400. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, […]
Even as bitcoin prices languish below $10,000, North American cryptocurrency mining companies are tapping into a flurry of fresh financing from investors to pay for new equipment upgrades, bolstering the blockchain network’s resilience and reducing its reliance on Chinese operators. More than $1 billion of new bitcoin-mining computers will be purchased for North American bitcoin mining in the next two years, several people familiar with the […]
The government wants to “eliminate the confusion of cryptocurrency activists” with its call for mass mining registration. Source link
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 by CoinDesk. Estimates assume miners sell bitcoins immediately. Mining is the process of adding confirmed […]
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 capacity, Argo said in a filing at the London Stock Exchange (LSE). Only a handful of […]
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 previous decade low of 988 was registered on May 23. The number of coins being […]
Illegally built power stations, tampered power meters and underground mining farms helped “black” miners steal almost $6.6 million (450 million Russian rubles) from local energy providers over the past three years, state-owned power grid company Rosseti said. The company initially reported the figure in its official Telegram channel (in Russian) and later confirmed the number to CoinDesk. According to Rosseti, it has been looking for mining […]
Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market value fell 8% from $10,137 to $9,298 in less than 5 minutes during Tuesday’s U.S. trading hours, dashing hopes for a continued upward move. The price drop, however, has not deterred miners from running down their inventory. According to data source ByteTree, miners have sold 920 BTC and […]
A widespread bug has compromised a special type of bitcoin transaction that is supposed to discourage miners from cheating, new research shows. In a report released in late April, pseudonymous engineer 0xb10c found more than a million of these “timelocked” transactions made between September 2019 and March 2020 were not accurately enforced by the network. This increases the risk of a hypothetical form of attack in […]
Bitcoin is rallying again, and some analysts are looking at a potential driver of even higher prices: new data showing that mining pools are hanging onto the cryptocurrency rather than sending it to exchanges for a quick sale. But as with a lot of bitcoin analysis, the interpretation isn’t always clear-cut; the data might be seen differently as a sign of a weak market. You’re reading First […]
While bitcoin is fast reversing its pre-halving price drop, some miners still look to be leaving the network. At time of writing, the top cryptocurrency by market value is changing hands at $9,730, representing a 20% gain on the low of $8,100 observed Sunday – the day before Bitcoin underwent its third mining reward halving. The bounce has erased more than 75% of the drop from […]
Despite a post-halving rise in bitcoin’s price Wednesday, the current value may not be enough to keep less-efficient miners operating, and that could shift market dynamics. At press time, bitcoin (BTC) was trading up 2.3% over 24 hours at $9,106. The world’s first cryptocurrency is trading above its 10-day and 50-day moving averages, which is a bullish technical indicator, and has been on a steady uptrend […]
Bixin, one of the earliest bitcoin miner operators and wallet startups, is dedicating 6600 bitcoin, worth $66 million, to a new fund of funds. The company announced the fund of funds with its proprietary capital on Friday and said it aims to invest in global quantitative trading funds whose strategies are based on arbitrage, bitcoin futures contracts and trend analysis. By providing additional liquidity and market […]