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Paraguayan Authorities Shut Down 2,700 Miners in Largest Anti-Illegal Bitcoin Mining Intervention to Date $BTC $BNB Paraguay continues to crack down on illegal mining activities that siphon power from the country’s electric grid. In an operation executed in Saltos de Guaira on May 28, the Paraguayan National Power Administration (ANDE) and local prosecutors detected and pulled the plug on a giant bitcoin mining farm hosting 2,738 bitcoin miners. While many of these machines were disconnected, the farm had bypassed the connection to the electric meter, obtaining the energy for the operation without being accounted by ANDE. In addition to the bitcoin miners, authorities confiscated five electric transformers with a total installed capacity of 7,150 kilo-volt-amperes. The detection of this farm was possible due to the implementation of several techniques, including supervisory and control systems (SCADA) and artificial intelligence (AI) software to monitor the load current peaks.
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Bitcoin Technical Analysis: BTC Maintains Stability in Narrow Triangular Formation #BTC☀ Bitcoin’s valuation presently resides at $68,402, boasting a market capitalization of $1.34 trillion and a 24 hour trading volume of $23.93 billion. Throughout the previous day, BTC’s price has maintained a tightly consolidated triangular pattern.
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Bitcoin Hash rate Hits Record High, Surpasses Pre-Halving Levels #Bitcoinarena Bitcoin’s hash rate has rebounded to the historic highs seen just before the fourth reward halving event. According to the seven-day simple moving average, the network’s hash rate reached a record 657 exa hash per second (EH/s) this week. Bitcoin hashrate via the seven-day SMA on May 28, 2024.$BTC
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#EarnFreeCrypto2024 FINANCE UK Digital Bank Blocks Clients From Performing Crypto Transactions The London-based digital bank Kroo has barred its clients from engaging in cryptocurrency transactions, joining other U.K.-based banks in this decision. The bank cites the increasing cases of online fraud incidents involving crypto currencies as the reason for this move. Bitcoin.com News logo Learning Center About Advertise Submit Press Release FINANCE UK Digital Bank Blocks Clients From Performing Crypto Transactions UK Digital Bank Blocks Clients From Performing Crypto Transactions Terence Zimwara By Terence Zimwara The London-based digital bank Kroo has barred its clients from engaging in cryptocurrency transactions, joining other U.K.-based banks in this decision. The bank cites the increasing cases of online fraud incidents involving crypto currencies as the reason for this move. Kroo to Decline Cryptocurrency-Related Bank Transfer Requests London-based digital bank Kroo has barred its customers from performing cryptocurrency transactions. The bank attributes this decision to the increased association of crypto with scams. Kroo joins fellow banks Starling Bank and Chase UK in blocking clients from engaging in crypto transactions. According to the bank’s updated terms and conditions, starting from May 30, 2024, Kroo will decline bank transfer requests or card transactions associated with crypto currencies. “[We can freeze or restrict your account if] you use your account to purchase or trade in cryptocurrency or you receive credits to your account which arise from cryptocurrency trading or transactions. If we detect such activity we will not process the payments involved, and if you persistently make such transactions we may close your account,” the digital bank explained.
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Bitcoin Breaks $70K Barrier, Leading to $27.75M in Liquidations #Bitcoin❗ The price of bitcoin has exceeded $70,000, increasing by 2.1% during today’s trading sessions. This latest rise led to the liquidation of $27.75 million in bitcoin short positions. Bitcoin (BTC) is up 2.1% today and 3% over the past seven days. The price has also risen 12% over the last 30 days against the U.S. dollar. As bitcoin crossed $70,000, its trade volume surged from over $10 billion to $21.58 billion. Tether (USDT) is the largest trading pair with bitcoin, accounting for more than 41% of trades, while the stablecoin FDUSD makes up more than 35%. USDT and FDUSD are followed by USD, USDC, and the South Korean won (KRW), which commands 2.67% of all bitcoin trades. While BTC is trading for $70,245 per coin, it has a premium in South Korea, where it trades for $71,044 per unit. The premium, which had fallen below 1%, is now back above the threshold at 1.07%. The increase in bitcoin’s value has resulted in significant liquidations, alongside ethereum’s (ETH) price rise. Across the entire crypto economy, $111.23 million in long and short positions were wiped out. ETH shorts saw $23.52 million in liquidations, while BTC experienced $27.75 million in liquidated shorts. Out of the $111.23 million in liquidations over the past day, $70.12 million were shorts.
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