In short, bitcoin miners are betting big on the future of the cryptocurrency. They are not dumping their assets, even when prices cross the $100k mark. This new behavior suggests a departure from the normal market reaction, wherein price rises would usually encourage more sell pressure as miners cash in.Miners...
Cryptocurrency advocates have been making a lot of noise about a new trend in Bitcoin mining. Recent data indicates that BTC.com, a major mining pool, is directing a staggering 98% of its miner transfers to Binance. This concentration of Bitcoin flow presents some broader strategic implications for the market. It...
98% of Bitcoin miner transfers going through a single pool, BTC.com, directly to Binance? Let's be real, that's not just a statistic, it's a flashing red light for anyone who remembers what Bitcoin was supposed to be: a decentralized revolution. Are we really okay with this?Centralization Threatens Bitcoin's Original PromiseWe...
The market's reaction was swift and brutal: a 15% drop in Bit Digital's (BTBT) stock price after announcing their strategic pivot from Bitcoin mining to Ethereum staking. Ouch. Wherever there is opportunity, there could be very high gut reaction is no surprise, trepidation. Are they brilliant thinkers or just wagering...
As of June 19, institutional strategic reserves peaked at 1.190 million ETH. This pivot marks a deepening corporate strategy shift away from crypto. Crypto.news was the first to report these holdings. Together they account for more than 1% of the total Ethereum supply and are worth almost $3 billion today....
Bit Digital, a New York-based crypto mining firm, is rattling the digital currency ecosystem. They’re doing this in a big way, though, by completely shifting their business model from Bitcoin mining to Ethereum staking and treasury management. This strategic pivot raises important questions about the associated risks and rewards. The...
D'CENT Wallet is not just sitting back. It's actively shaping the Web3 landscape. It proves this point with its “Tap That Drop” campaign, now in its third cycle. This smart contract academy exposes users to the thrilling universe of dApps and crypto assets. From explorers to collectors, participants will experience...
As a result, bitcoin miners are going through one of the krinchiest bear markets in history. Their revenue has dropped down to $34 million, the lowest point since 4/10. This dramatic fall illustrates the pain that market miners are suffering in today’s economic climate. For one, miners are at their...
Bitcoin mining—the process that keeps the Bitcoin network running—has gone from massively profitable to barely profitable. LeeChiaJian, a keen observer of the crypto landscape, investigates the recent dramatic drop in Bitcoin miner revenue and explores the long-term sustainability of mining operations under the current conditions. This example analysis provides significant...
…that the Bitcoin hashrate was on a wild ride. It dropped down to 660 EH/s, only to leap back up 30% over 1000 EH/s, sending the crypto community into a furor. Some cheered the network’s increased resilience and richer miners. What I can’t shake is the troubling signs I see...
