Above photo: Twitter. Webinar update with UMWA District Vice President Larry Spencer. Larry Spencer, UMWA District 20 Vice President, represents the 1,100 coal miners in three UMWA locals which on strike against Warrior Met in Alabama since April 1, 2021. He will give an update on the strike in a September 28 webinar. The strikers are fighting to reverse concessions that were foisted on them in 2016 when BlackRock and other billionaire creditors set up Warrior Met Coal and took over mine operations with the aid of a bankruptcy court. To keep their jobs, Warrior Met made the miners work up […]
Miners
27 posts
Bitcoin’s transaction activity has cooled amid the recent lull in price action – and that’s hurting miners’ earnings. Source link
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. Zhihu Cloud, one of top five Filecoin miners, has more than 8,000 InterPlanetary File System (IPFS) mining machines yet only 276 mining machines were running on Saturday, while the other four, including mining company 1475, […]
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 create a product to sync miners with hosting providers. The initiative was born from a drive to keep Bitcoin’s hashrate distributed, and that starts with making sure the smaller-time miners can stay competitive. “We believe […]
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 1559 swaps Ethereum’s current bid-based transaction market for a set fee, BASEFEE, with a small tip for miner compensation. The EIP gained steam over the summer months as the cost to send even a basic […]
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, $419.9 million to fully implement the Modernising Business Registers (MBR) program, $22.2 million for small businesses training to utilize digital technologies and two blockchain pilot programs totalling $6.9 million. “The Plan supports Australia’s economic recovery […]
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 to the Russian newspaper Izvestia, which first reported the bill. The draft is intended to amend a new law on digital assets signed by Russian President Vladimir Putin at the end of July. If the […]
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% After Latest Rejection at $12K Resistance Bitcoin dropped to as low as $11,159 on spot exchanges like Coinbase Wednesday. The fall was exacerbated by long-oriented derivatives traders on exchanges like BitMEX. That platform experienced $9 […]
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 institutional interest is helping to drive a recent spike in volume on Bakkt, according to its president, Adam White. Trading volumes for physically settled bitcoin futures on Bakkt rose to $134 million on Tuesday from a previous […]
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 year, aggregate holdings by miners have increased by roughly 2%, excluding growth from other bitcoin miners not tracked by Glassnode. There are three possible causes for the increase in total bitcoins held by miners: First, […]
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 dollar bitcoin mining industry. Since last summer, many mining farm operators rushed to build new facilities in China’s southwestern region in anticipation of a dramatic price rise with bitcoin’s halving. But mining difficulty has now […]
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, which invests in cryptocurrencies and blockchain startups. Source link
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 industry told CoinDesk. That’s about five times the publicly traded mining-equipment maker Canaan’s revenue for all of 2019. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your […]
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 transactions to the Bitcoin blockchain. For the resources required to mine, the network compensates miners via subsidies and transaction fees. Subsidies are paid per block at a current rate of 6.25 BTC. Fees are paid […]
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 coins use the Equihash algorithm and the largest, by far, is Zcash. The acquisition means Argo – which listed on the LSE in 2018 – has significantly increased its zcash mining capacity. The new Z11s […]
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 sent by miners to exchanges is also at its lowest point in over a year, as noted by Glassnode in its weekly report. “It is a sign of efficient miners continuing to hoard (only selling […]
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 farms that don’t have any contracts with local power generating firms, but still plug into the electric grids and use generated electricity without paying for it. It would usually happen on the premises of an […]
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 generated 844 BTC in the past 24 hours, pushing their inventory down by 76 BTC and keeping the miner’s rolling inventory (MRI) figure above 100%. “Miners HODL [hold] when the market is weak, not because […]
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 which miners could essentially steal bitcoin from other miners. The bug affects 10% of timelocked transactions, or 2% of bitcoin transactions overall. The findings highlight a key area of bitcoin research that aims to stop […]
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 Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing […]
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 $10,500 to $8,100 seen in the three days to May 10. While the price has recovered a major portion of the lost ground, the cryptocurrency’s hash rate (the total computing power dedicated to mining blocks […]
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 since early trading May 13, 00:00 UTC. Bitcoin trading on Coinbase since May 11Source: TradingView The long-anticipated halving was, “a little uneventful,” said Jack Tan, founding partner at Taiwan-based crypto trading firm Kronos Research. But […]
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 making activities to these trading desks amid bitcoin’s scheduled halving event, Bixin seeks to increase its holdings in bitcoin as part of its “unwavering commitment to bitcoin,” the firm said in the announcement. “We are […]