bitcoinmining
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๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐ญ๐ก ๐๐ข๐ญ๐๐จ๐ข๐ง ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐๐ ๐๐ข๐ง๐๐ ๐๐ฒ ๐๐ข๐-๐๐๐๐: ๐ ๐๐ข๐ฅ๐๐ฌ๐ญ๐จ๐ง๐ ๐๐จ๐ซ ๐ญ๐ก๐ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐จ๐ซ๐ฅ๐
As the Bitcoin network approaches a major milestone, the 20 millionth Bitcoin is expected to be mined by mid-2025. With only 21 million Bitcoins ever to exist, this event marks a significant moment in the history of cryptocurrency.
The mining process, driven by complex algorithms, has progressively slowed down due to Bitcoin's halving events, where the rewards for miners are cut in half every four years. This gradual reduction in mining rewards highlights the rarity and finite supply of Bitcoin, contributing to its value and scarcity.
For investors and crypto enthusiasts, the nearing 20 million mark signifies more than just a technical achievementโit emphasizes Bitcoinโs role as digital gold in a world of increasing demand and limited supply. As the crypto landscape evolves, this milestone is likely to drive further attention toward Bitcoinโs long-term potential and its impact on global finance.
#BitcoinMilestone #Crypto2025 #BitcoinMining #DigitalGold #BitcoinEconomy #Blockchain
$BTC
As the Bitcoin network approaches a major milestone, the 20 millionth Bitcoin is expected to be mined by mid-2025. With only 21 million Bitcoins ever to exist, this event marks a significant moment in the history of cryptocurrency.
The mining process, driven by complex algorithms, has progressively slowed down due to Bitcoin's halving events, where the rewards for miners are cut in half every four years. This gradual reduction in mining rewards highlights the rarity and finite supply of Bitcoin, contributing to its value and scarcity.
For investors and crypto enthusiasts, the nearing 20 million mark signifies more than just a technical achievementโit emphasizes Bitcoinโs role as digital gold in a world of increasing demand and limited supply. As the crypto landscape evolves, this milestone is likely to drive further attention toward Bitcoinโs long-term potential and its impact on global finance.
#BitcoinMilestone #Crypto2025 #BitcoinMining #DigitalGold #BitcoinEconomy #Blockchain
$BTC
Foundry USA Pool Returns Overpaid Bitcoin Fee
The Largest Mining Pool Addresses Transaction Error
Foundry USA Pool, the largest Bitcoin mining pool by hash rate, recently returned a transaction fee of 8.18 BTC, worth approximately $777,000. The fee was mistakenly overpaid during a transaction included in block 875475, mined on December 19. The error caused the fee to be 91,127 times higher than necessary.
Refund of the Overpayment
After identifying the error, Foundry contacted the sender and returned the overpaid amount following verification. The mining pool emphasized that this incident did not affect payouts to its regular customers. Their payment system excludes the three highest and three lowest transaction fees daily.
In an official statement on Twitter, Foundry stated:
โWe have received numerous messages from across the industry and want to thank everyone who reached out on the userโs behalf. Please note that this decision was made after thorough consideration, and we will continue to address such cases individually.โ
Similar Incidents in Recent Months
This is not an isolated case. In November 2023, the Antpool mining pool returned a $3 million transaction fee mistakenly paid by a user. That incident involved 83 BTC, which were temporarily frozen until the senderโs identity was verified.
Foundryโs Dominance in the Industry
Foundry remains the largest mining pool, with a hash rate of 273.6 EH/s, significantly outpacing Antpool, which has a hash rate of 146.7 EH/s. According to Hashrate Index, Foundry controls about 38% of the market share, while Antpool accounts for around 18%.
Foundryโs Layoffs
The refund comes shortly after the announcement that Foundry laid off 60% of its workforce as part of a restructuring strategy. Of the original 250 employees, around 160 to 170 were laid off, including entire teams focused on ASIC hardware repairs. However, mining pool operations remained unaffected. There are speculations that Foundry is exploring the sale of its operational team managing Bitcoin mining sites.
Summary
Foundry USA Pool continues to lead the mining industry despite recent layoffs and unexpected incidents with overpaid transaction fees. This case highlights the importance of thorough verification in Bitcoin network transactions.
#Bitcoinmining , #CryptoMining , #BTC , #blockchain , #CryptoInnovation
Stay one step ahead โ follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.โ
Foundry USA Pool, the largest Bitcoin mining pool by hash rate, recently returned a transaction fee of 8.18 BTC, worth approximately $777,000. The fee was mistakenly overpaid during a transaction included in block 875475, mined on December 19. The error caused the fee to be 91,127 times higher than necessary.
Refund of the Overpayment
After identifying the error, Foundry contacted the sender and returned the overpaid amount following verification. The mining pool emphasized that this incident did not affect payouts to its regular customers. Their payment system excludes the three highest and three lowest transaction fees daily.
In an official statement on Twitter, Foundry stated:
โWe have received numerous messages from across the industry and want to thank everyone who reached out on the userโs behalf. Please note that this decision was made after thorough consideration, and we will continue to address such cases individually.โ
Similar Incidents in Recent Months
This is not an isolated case. In November 2023, the Antpool mining pool returned a $3 million transaction fee mistakenly paid by a user. That incident involved 83 BTC, which were temporarily frozen until the senderโs identity was verified.
Foundryโs Dominance in the Industry
Foundry remains the largest mining pool, with a hash rate of 273.6 EH/s, significantly outpacing Antpool, which has a hash rate of 146.7 EH/s. According to Hashrate Index, Foundry controls about 38% of the market share, while Antpool accounts for around 18%.
Foundryโs Layoffs
The refund comes shortly after the announcement that Foundry laid off 60% of its workforce as part of a restructuring strategy. Of the original 250 employees, around 160 to 170 were laid off, including entire teams focused on ASIC hardware repairs. However, mining pool operations remained unaffected. There are speculations that Foundry is exploring the sale of its operational team managing Bitcoin mining sites.
Summary
Foundry USA Pool continues to lead the mining industry despite recent layoffs and unexpected incidents with overpaid transaction fees. This case highlights the importance of thorough verification in Bitcoin network transactions.
#Bitcoinmining , #CryptoMining , #BTC , #blockchain , #CryptoInnovation
Stay one step ahead โ follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.โ
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๐จ Chokepoint 2.0: A Serious Threat to Bitcoin Mining? ๐จ
๐ The Biden administration is back in the spotlight! This time, with Operation Chokepoint 2.0, Bitcoin mining in the United States is facing major pressure. What does it mean?
๐ According to Brian Morgenstern of Riot Platforms, this initiative is like "cutting off the energy supply" to miners, just like the government's previous attempts to restrict certain sectors. There is even a threat of a 30% tax on the energy used!
๐ค Imagine, the CBDC white paper came out at the same time as this crackdown. Coincidence? Or a planned strategy to eliminate Bitcoin's dominance in the US?
๐ฏ What do you think? Is this a sign that the government is trying to control crypto even further? Comment below and let's discuss how this will impact the future of Bitcoin mining! ๐ฌ
#BitcoinMining #CryptoRegulation #OperationChokepoint $BTC
๐ The Biden administration is back in the spotlight! This time, with Operation Chokepoint 2.0, Bitcoin mining in the United States is facing major pressure. What does it mean?
๐ According to Brian Morgenstern of Riot Platforms, this initiative is like "cutting off the energy supply" to miners, just like the government's previous attempts to restrict certain sectors. There is even a threat of a 30% tax on the energy used!
๐ค Imagine, the CBDC white paper came out at the same time as this crackdown. Coincidence? Or a planned strategy to eliminate Bitcoin's dominance in the US?
๐ฏ What do you think? Is this a sign that the government is trying to control crypto even further? Comment below and let's discuss how this will impact the future of Bitcoin mining! ๐ฌ
#BitcoinMining #CryptoRegulation #OperationChokepoint $BTC
#BTCMiningPeak
๐ The #BTCMiningPeak is here! With increasing block rewards and network upgrades, it's an exciting time for Bitcoin miners. As difficulty rises, the potential for higher rewards and innovation grows.
Who's ready to optimize their mining setups for maximum efficiency?
Let's ride the wave of Bitcoin's future together! ๐๐ฐ
#Bitcoin #CryptoMining #BinanceSquare #BTC #Blockchain #Mining #Crypto #BlockchainTechnology #BitcoinMining
$BTC
๐ The #BTCMiningPeak is here! With increasing block rewards and network upgrades, it's an exciting time for Bitcoin miners. As difficulty rises, the potential for higher rewards and innovation grows.
Who's ready to optimize their mining setups for maximum efficiency?
Let's ride the wave of Bitcoin's future together! ๐๐ฐ
#Bitcoin #CryptoMining #BinanceSquare #BTC #Blockchain #Mining #Crypto #BlockchainTechnology #BitcoinMining
$BTC
#BTCMiningPeak
โ๏ธ๐ #BTCMiningPeak: The Future is Bright for Bitcoin Miners! ๐โ๏ธ
๐จ Bitcoin Mining Alert: 2025 is shaping up to be a watershed moment for BTC mining as technological advancements and market trends align to push mining profitability to new heights! ๐
๐ก Why #BTCMiningPeak Matters:
1๏ธโฃ Halving Event (2024): With reduced Bitcoin supply, demand is set to soar, potentially driving prices to record highs.
2๏ธโฃ Cutting-Edge Tech: Innovations in energy efficiency and mining hardware are making mining more sustainable and profitable.
3๏ธโฃ Global Adoption: Institutional interest and BTC acceptance are driving up value like never before.
๐ฏ What This Means for Miners:
Whether you're a seasoned miner or just starting, this is your chance to ride the wave of opportunity. Maximize your profits by investing in efficient rigs, renewable energy sources, and mining pools!
๐ Bitcoin is not just mined โ itโs earned through vision, strategy, and persistence. ๐
๐ฅ Are You Ready for the #BTCMiningPeak Revolution?
Donโt just watch from the sidelines โ take action now to be part of this historic movement. The rewards will speak for themselves!
Your Future is Digital. Your Opportunity is Now. Letโs Mine It!
#BitcoinMining #BTCFuture
#cryptohawk007
follow comment like and share ๐
โ๏ธ๐ #BTCMiningPeak: The Future is Bright for Bitcoin Miners! ๐โ๏ธ
๐จ Bitcoin Mining Alert: 2025 is shaping up to be a watershed moment for BTC mining as technological advancements and market trends align to push mining profitability to new heights! ๐
๐ก Why #BTCMiningPeak Matters:
1๏ธโฃ Halving Event (2024): With reduced Bitcoin supply, demand is set to soar, potentially driving prices to record highs.
2๏ธโฃ Cutting-Edge Tech: Innovations in energy efficiency and mining hardware are making mining more sustainable and profitable.
3๏ธโฃ Global Adoption: Institutional interest and BTC acceptance are driving up value like never before.
๐ฏ What This Means for Miners:
Whether you're a seasoned miner or just starting, this is your chance to ride the wave of opportunity. Maximize your profits by investing in efficient rigs, renewable energy sources, and mining pools!
๐ Bitcoin is not just mined โ itโs earned through vision, strategy, and persistence. ๐
๐ฅ Are You Ready for the #BTCMiningPeak Revolution?
Donโt just watch from the sidelines โ take action now to be part of this historic movement. The rewards will speak for themselves!
Your Future is Digital. Your Opportunity is Now. Letโs Mine It!
#BitcoinMining #BTCFuture
#cryptohawk007
follow comment like and share ๐
Russia Says It Is Using Bitcoin for International Payments.
Russian businesses are using Bitcoin and other digital currencies for international transactions after legal changes aimed at countering Western sanctions, according to Finance Minister Anton Siluanov.
These sanctions have complicated trade with key partners like China and Turkey, as local banks avoid Russia-related transactions to sidestep Western scrutiny.
In response, Russia legalized the use of cryptocurrencies in foreign trade and is taking steps to regulate cryptocurrency mining, with the country being a global leader in Bitcoin mining.
"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions), Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year"
- Anton Siluanov -
Finance Minister of Russia
๐ท๐บ #bitcoinmining #bitcoin #cryptocurrency
#Crypto2025Trends $BTC $BTC $BTC
Russian businesses are using Bitcoin and other digital currencies for international transactions after legal changes aimed at countering Western sanctions, according to Finance Minister Anton Siluanov.
These sanctions have complicated trade with key partners like China and Turkey, as local banks avoid Russia-related transactions to sidestep Western scrutiny.
In response, Russia legalized the use of cryptocurrencies in foreign trade and is taking steps to regulate cryptocurrency mining, with the country being a global leader in Bitcoin mining.
"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions), Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year"
- Anton Siluanov -
Finance Minister of Russia
๐ท๐บ #bitcoinmining #bitcoin #cryptocurrency
#Crypto2025Trends $BTC $BTC $BTC
Odaily reports that HODL15 Capital believes over 20 companies could be included in the Bitwise Bitcoin Standard Corporations ETF ๐. Notably, 30% of these are Bitcoin mining firms โ๏ธ. Previously, Bitwise filed with the U.S. SEC to launch this ETF ๐, designed to invest in companies adopting the Bitcoin standard ๐. To qualify, firms must hold at least 1,000 BTC in reserves ๐ฐ. This move signals growing institutional adoption of Bitcoin as a reserve asset ๐. The ETF could become a milestone for integrating Bitcoin into corporate strategies and investment portfolios ๐. #BitwiseBitcoinETF #BitcoinMining #CryptoInnovation
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โ๏ธ Ethiopia is breaking into the world of Bitcoin mining!
Who would have thought that Ethiopiaโs largest electricity producer, Ethiopian Electric Power, would start making money from Bitcoin mining? ๐ก๐ฐ Already 18% of the companyโs revenue comes from BTC mining!
๐ All thanks to the Grand Ethiopian Renaissance Dam, which used to waste excess energy. Now the country has found a way to monetize its energy resources.
๐ Over the past year, mining investments have exceeded $1 billion, and Ethiopia is confidently moving towards entering the top 5 leaders in Bitcoin mining.
๐ฌ This is not only an economic breakthrough, but also an inspiring example of how developing countries use innovation to improve their situation.
๐ Do you think Ethiopia will become a new Mecca for miners? Share your opinions!
#BitcoinMining #Ethiopia #BTC #CryptoRevolution #GreenMining
Who would have thought that Ethiopiaโs largest electricity producer, Ethiopian Electric Power, would start making money from Bitcoin mining? ๐ก๐ฐ Already 18% of the companyโs revenue comes from BTC mining!
๐ All thanks to the Grand Ethiopian Renaissance Dam, which used to waste excess energy. Now the country has found a way to monetize its energy resources.
๐ Over the past year, mining investments have exceeded $1 billion, and Ethiopia is confidently moving towards entering the top 5 leaders in Bitcoin mining.
๐ฌ This is not only an economic breakthrough, but also an inspiring example of how developing countries use innovation to improve their situation.
๐ Do you think Ethiopia will become a new Mecca for miners? Share your opinions!
#BitcoinMining #Ethiopia #BTC #CryptoRevolution #GreenMining
What is mining?
Mining is verifying crypto transactions & adding them to blockchain ๐ก
Miner's Role:
Solve complex math problems ๐ค
Verify transactions โ
Add block to blockchain ๐
Miner's Reward:
New crypto coins ๐ค
Transaction fees ๐ธ
Mining Types:
CPU, GPU, ASIC, Cloud ๐ป
Start mining? Learn more on Binance Academy! $BTC
#Bitcoinmining
Mining is verifying crypto transactions & adding them to blockchain ๐ก
Miner's Role:
Solve complex math problems ๐ค
Verify transactions โ
Add block to blockchain ๐
Miner's Reward:
New crypto coins ๐ค
Transaction fees ๐ธ
Mining Types:
CPU, GPU, ASIC, Cloud ๐ป
Start mining? Learn more on Binance Academy! $BTC
#Bitcoinmining
Tether Invests in Renewable Bitcoin Mining
Tether is stepping up its game in Bitcoin mining with a $500 million investment plan over the next six months. The goal? To become one of the largest Bitcoin miners globally while focusing on renewable energy sources to make mining more sustainable.
Key Details:
Investment Amount: $500 million.
Focus: Renewable energy-powered Bitcoin mining.
Impact: A significant step toward eco-friendly crypto operations.
Tetherโs initiative underscores the growing importance of sustainability in the cryptocurrency industry.
#Tether #BitcoinMining #RenewableEnergy #Write2Earn!
Tether is stepping up its game in Bitcoin mining with a $500 million investment plan over the next six months. The goal? To become one of the largest Bitcoin miners globally while focusing on renewable energy sources to make mining more sustainable.
Key Details:
Investment Amount: $500 million.
Focus: Renewable energy-powered Bitcoin mining.
Impact: A significant step toward eco-friendly crypto operations.
Tetherโs initiative underscores the growing importance of sustainability in the cryptocurrency industry.
#Tether #BitcoinMining #RenewableEnergy #Write2Earn!
Marathon and Hut 8 Scoop Up $1.6 Billion Worth of Bitcoin During Market Dip ๐๐ฐ
Bitcoin mining powerhouses, Marathon Digital Holdings and Hut 8, have taken full advantage of Bitcoin's recent market correction, making staggering investments in the cryptocurrency. Here's the breakdown of their bold moves:
Marathonโs Massive Buy ๐ฆ
Marathon led the charge, securing 15,574 BTC at an average price of $98,529 per coin, for a total investment of approximately $1.53 billion.
Current Bitcoin Holdings: 44,394 BTC
Current Value: $4.45 billion (at Bitcoinโs spot price of $100,151)
Ranking:
The second-largest publicly traded Bitcoin holder, only behind MicroStrategy, which has a mind-blowing stash of 439,000 BTC.
Hut 8 Steps Up ๐ผ
Hut 8 wasnโt far behind, purchasing 990 BTC for $100 million, with an average price of $101,710 per Bitcoin.
Total Reserves: 10,096 BTC
Milestone: Hut 8 now holds more Bitcoin than Tesla and has become the fourth public company with over 10,000 BTC on its balance sheet.
Market Context ๐โก๐
These strategic acquisitions came after Bitcoinโs value dropped over 5%, triggered by a US Federal Reserve rate adjustment. The flagship cryptocurrency hit a low of $96,781 before rebounding to $98,750, as per CryptoSlate's data.
Why Does This Matter? ๐
Such significant purchases during a dip reflect the confidence of major players in Bitcoinโs long-term potential. While the crypto market can be volatile, moves like these remind us that smart investors seize opportunities when others hesitate.
The Bigger Picture ๐
With these acquisitions, both Marathon and Hut 8 solidify their positions as leaders in the Bitcoin mining and holding ecosystem. Their bold strategies are paving the way for broader institutional adoption of crypto.
What do you think about these investments? Are they too risky, or will they pay off in the long run? Let me know your thoughts! ๐ญ๐ฅ
#Bitcoin #Cryptocurrency #BTC #BitcoinMining
NOTE:
I requested people to join@Kaia Chain to win 400$.
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Marathonโs Massive Buy ๐ฆ
Marathon led the charge, securing 15,574 BTC at an average price of $98,529 per coin, for a total investment of approximately $1.53 billion.
Current Bitcoin Holdings: 44,394 BTC
Current Value: $4.45 billion (at Bitcoinโs spot price of $100,151)
Ranking:
The second-largest publicly traded Bitcoin holder, only behind MicroStrategy, which has a mind-blowing stash of 439,000 BTC.
Hut 8 Steps Up ๐ผ
Hut 8 wasnโt far behind, purchasing 990 BTC for $100 million, with an average price of $101,710 per Bitcoin.
Total Reserves: 10,096 BTC
Milestone: Hut 8 now holds more Bitcoin than Tesla and has become the fourth public company with over 10,000 BTC on its balance sheet.
Market Context ๐โก๐
These strategic acquisitions came after Bitcoinโs value dropped over 5%, triggered by a US Federal Reserve rate adjustment. The flagship cryptocurrency hit a low of $96,781 before rebounding to $98,750, as per CryptoSlate's data.
Why Does This Matter? ๐
Such significant purchases during a dip reflect the confidence of major players in Bitcoinโs long-term potential. While the crypto market can be volatile, moves like these remind us that smart investors seize opportunities when others hesitate.
The Bigger Picture ๐
With these acquisitions, both Marathon and Hut 8 solidify their positions as leaders in the Bitcoin mining and holding ecosystem. Their bold strategies are paving the way for broader institutional adoption of crypto.
What do you think about these investments? Are they too risky, or will they pay off in the long run? Let me know your thoughts! ๐ญ๐ฅ
#Bitcoin #Cryptocurrency #BTC #BitcoinMining
NOTE:
I requested people to join@Kaia Chain to win 400$.
join now
join now
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๐ Bitcoin Miners Entering the Big League? ๐ฅ
Michael Saylor just made a prediction that has the crypto industry abuzz! ๐ฏ According to him, Bitcoin mining company MARA will be a strong candidate to enter the Nasdaq 100โthe top index of the traditional financial market.
What does it mean?
๐ Legitimacy: Crypto mining is no longer just an โexperiment,โ but a serious player in the mainstream financial world.
๐ New Access: Big investors from traditional markets can start to look deeper into the crypto sector.
๐ Milestone: If MARA enters, it will be a big moment for the digital currency ecosystem as a whole.
๐ก Imagine if a crypto-related company became part of the top 100 most influential companies in the financial world!
Ask yourself:
Is this a sign that Bitcoinโs future is on Wall Street? ๐
Letโs discuss! Do you think Saylorโs prediction will come true? Drop your thoughts in the comments section! โฌ๏ธ
#CryptoNews #BitcoinMining #Nasdaq100 #DigitalAssets $BTC
Michael Saylor just made a prediction that has the crypto industry abuzz! ๐ฏ According to him, Bitcoin mining company MARA will be a strong candidate to enter the Nasdaq 100โthe top index of the traditional financial market.
What does it mean?
๐ Legitimacy: Crypto mining is no longer just an โexperiment,โ but a serious player in the mainstream financial world.
๐ New Access: Big investors from traditional markets can start to look deeper into the crypto sector.
๐ Milestone: If MARA enters, it will be a big moment for the digital currency ecosystem as a whole.
๐ก Imagine if a crypto-related company became part of the top 100 most influential companies in the financial world!
Ask yourself:
Is this a sign that Bitcoinโs future is on Wall Street? ๐
Letโs discuss! Do you think Saylorโs prediction will come true? Drop your thoughts in the comments section! โฌ๏ธ
#CryptoNews #BitcoinMining #Nasdaq100 #DigitalAssets $BTC
๐จ Hut 8 ($HUT) bought $100M worth of Bitcoin, adding 990 BTC at an average price of $101,710.
They now hold 10,096 $BTC (~$1B).
The miner plans to use this reserve for options, pledges, or sales and may buy more BTC in the future.
#Hut8 #BitcoinMining
They now hold 10,096 $BTC (~$1B).
The miner plans to use this reserve for options, pledges, or sales and may buy more BTC in the future.
#Hut8 #BitcoinMining
Midday News Update #Web3
๐ NYSE-listed Cango invests $256M in Bitmain #BTCโ miners, achieving a total hash rate of 32 EH/s.
๐ $2.735B in $BTC and $ETH options, with max pain at $102K and $3,800, to expire on Dec 20.
๐ Galaxy CEO: Bitcoinโs market cap could surpass goldโs within 5-8 years, now at 14% of goldโs valuation.
๐ Binanceโs Yi He clarifies that $BNB is not the sole focus of Binance Alphaโs support initiatives.
๐ธ Trader turns $700 into $1.8M in 7 hours, profiting 2,571x on 48M $UFD tokens via pump.fun.
#BitcoinMining #Gold #BinanceAlpha #UFD
๐ NYSE-listed Cango invests $256M in Bitmain #BTCโ miners, achieving a total hash rate of 32 EH/s.
๐ $2.735B in $BTC and $ETH options, with max pain at $102K and $3,800, to expire on Dec 20.
๐ Galaxy CEO: Bitcoinโs market cap could surpass goldโs within 5-8 years, now at 14% of goldโs valuation.
๐ Binanceโs Yi He clarifies that $BNB is not the sole focus of Binance Alphaโs support initiatives.
๐ธ Trader turns $700 into $1.8M in 7 hours, profiting 2,571x on 48M $UFD tokens via pump.fun.
#BitcoinMining #Gold #BinanceAlpha #UFD
Halving #bitcoin in about 300 days, the prize will drop to 3,125, then 19,445.00 bitcoins will be available in circulation #bitcoin #bitcoinmining #BinanceTournament
๐จ BITCOIN MINERS GIVING UP AS PROFITS DRY UP AMID SELLOFF ๐จ
๐ก CryptoQuant analysts reveal Bitcoin miners are approaching "capitulation" as profit margins tighten post-halving and BTC hovers close to $50,000. This state mirrors the market bottom post-FTX crash in late 2022, potentially signaling a market bottom for BTC. ๐ก
๐ Signs of Capitulation ๐
๐ Miner capitulation happens when miners scale back operations or sell their mined Bitcoin to stay afloat or hedge their exposure. Over the past month, Bitcoin's price has dropped 13% from $68,791 to $59,603, intensifying signs of miner distress.
๐ One critical indicator is the significant drop in Bitcoin's hashrate, which has fallen 7.7% to a four-month low of 576 EH/s after hitting a record high on April 27. This drop mirrors a similar hashrate decline in late 2022, when Bitcoinโs price bottomed at $15,500 before surging over 300% in the following 15 months.
๐ "Bitcoin miner capitulation mirrors December 2022 levels with a 7.7% hashrate drop, similar to post-FTX collapse conditions. Such declines often signal potential market bottoms." - CryptoQuant
๐ Hashrate Analysis ๐
๐ Bitcoinโs hashrate decline indicates reduced computational power securing the network, a sign of miners shutting down rigs due to unprofitability. This pattern of miner capitulation suggests a potential market bottom, akin to previous cycles.
๐ Miner Profit/Loss Sustainability ๐
๐ธ Since the halving, miners have faced extreme underpayment, as seen in the miner profit/loss sustainability indicator. Daily revenues have plummeted 63% from $79M on March 6 to $29M, with transaction fees now only contributing 3.2% of total daily revenuesโthe lowest share since April 8.
Are we headed towards another "Crypto recession"?
Yes/No? Let me know in the comments!
#mining #bitcoinmining #bullorbear #bearrun #btc
$BTC btc $ETH $SHIB
๐ก CryptoQuant analysts reveal Bitcoin miners are approaching "capitulation" as profit margins tighten post-halving and BTC hovers close to $50,000. This state mirrors the market bottom post-FTX crash in late 2022, potentially signaling a market bottom for BTC. ๐ก
๐ Signs of Capitulation ๐
๐ Miner capitulation happens when miners scale back operations or sell their mined Bitcoin to stay afloat or hedge their exposure. Over the past month, Bitcoin's price has dropped 13% from $68,791 to $59,603, intensifying signs of miner distress.
๐ One critical indicator is the significant drop in Bitcoin's hashrate, which has fallen 7.7% to a four-month low of 576 EH/s after hitting a record high on April 27. This drop mirrors a similar hashrate decline in late 2022, when Bitcoinโs price bottomed at $15,500 before surging over 300% in the following 15 months.
๐ "Bitcoin miner capitulation mirrors December 2022 levels with a 7.7% hashrate drop, similar to post-FTX collapse conditions. Such declines often signal potential market bottoms." - CryptoQuant
๐ Hashrate Analysis ๐
๐ Bitcoinโs hashrate decline indicates reduced computational power securing the network, a sign of miners shutting down rigs due to unprofitability. This pattern of miner capitulation suggests a potential market bottom, akin to previous cycles.
๐ Miner Profit/Loss Sustainability ๐
๐ธ Since the halving, miners have faced extreme underpayment, as seen in the miner profit/loss sustainability indicator. Daily revenues have plummeted 63% from $79M on March 6 to $29M, with transaction fees now only contributing 3.2% of total daily revenuesโthe lowest share since April 8.
Are we headed towards another "Crypto recession"?
Yes/No? Let me know in the comments!
#mining #bitcoinmining #bullorbear #bearrun #btc
$BTC btc $ETH $SHIB
Just in: President Vladimir Putin legalized crypto mining in Russia.
The past 2 years, Russia has intended to ban mining and issuance of new currency in the country to stabilize energy consumption and prevent the devaluing of Russian currency, the Ruble.
โSeize the momentโ - President Vladimir Putin
This year, on 8 August 2024, President Putin signed a law for digital currency mining, mining pools, and mining infrastructure operators. In the document, Russia will collect address identifiers of people who do the mining, including those who organize the mining pool activities.
Now the question, does Russia allow the issuance of new currency?
The answer is no!
Who can conduct mining in Russia?
Russian people with legal entities and entrepreneurs are allowed to mine digital currency and need to register with the Russian government. While you don't have to register as long as you are an individual who never exceeds their electricity consumption limit, you have the ability to mine digital currency in Russia.
The international digital financial assets from mining may be traded on Russian blockchain platforms. The one who controls the blockchain based on the document, it looks like the Bank of Russia will reserve the authority whether a transaction can be processed or not to prevent financial instability in Russia.
This action might bring Bitcoin hash rate and Bitcoin difficulty to the new all time high.
#Russia #BTCRussia #BTClegal #bitcoinmining #VladimirPutin
$BTC
The past 2 years, Russia has intended to ban mining and issuance of new currency in the country to stabilize energy consumption and prevent the devaluing of Russian currency, the Ruble.
โSeize the momentโ - President Vladimir Putin
This year, on 8 August 2024, President Putin signed a law for digital currency mining, mining pools, and mining infrastructure operators. In the document, Russia will collect address identifiers of people who do the mining, including those who organize the mining pool activities.
Now the question, does Russia allow the issuance of new currency?
The answer is no!
Who can conduct mining in Russia?
Russian people with legal entities and entrepreneurs are allowed to mine digital currency and need to register with the Russian government. While you don't have to register as long as you are an individual who never exceeds their electricity consumption limit, you have the ability to mine digital currency in Russia.
The international digital financial assets from mining may be traded on Russian blockchain platforms. The one who controls the blockchain based on the document, it looks like the Bank of Russia will reserve the authority whether a transaction can be processed or not to prevent financial instability in Russia.
This action might bring Bitcoin hash rate and Bitcoin difficulty to the new all time high.
#Russia #BTCRussia #BTClegal #bitcoinmining #VladimirPutin
$BTC
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#Prosper is making waves in the Bitcoin mining sector! With the recent acquisition of 7,000 BITMAIN ASIC miners, supported by industry leaders like Animoca Brands and BIT Mining, Prosper is set to scale institutional-grade hashrate and democratize access to Bitcoin mining.
This strategic move follows a successful funding round and aims to enhance Bitcoin mining capacity to 170 MW, reinforcing Prosper's commitment to decentralization and community governance.
Milton Lam from Prosperโs Advisory Council emphasizes the importance of this initiative in maintaining Bitcoin's status as a leading digital reserve currency.
As Prosper continues to innovate in the decentralized finance space, it is redefining accessibility in Bitcoin mining.
๐ #BitcoinMining #Web3Innovation #ProsperProtocol
Read the full story on www.ecoinimist.com.
$BTC #BTC
This strategic move follows a successful funding round and aims to enhance Bitcoin mining capacity to 170 MW, reinforcing Prosper's commitment to decentralization and community governance.
Milton Lam from Prosperโs Advisory Council emphasizes the importance of this initiative in maintaining Bitcoin's status as a leading digital reserve currency.
As Prosper continues to innovate in the decentralized finance space, it is redefining accessibility in Bitcoin mining.
๐ #BitcoinMining #Web3Innovation #ProsperProtocol
Read the full story on www.ecoinimist.com.
$BTC #BTC
Russia Ramps Up Crypto Mining with New Data Centers in Komi Republic
Russia's push into cryptocurrency mining is gaining momentum, as the northeastern Komi Republic plans to construct 15 new crypto mining data centers. According to TASS, regional governor Vladimir Uyba revealed that the first two centers will be built in Mikun and Sindor, with a combined cost of $27.6 million. These projects, backed by investors, signal Russia's continued focus on expanding its mining infrastructure.
While Uyba didnโt specify which cryptocurrencies will be mined, most Russian miners traditionally focus on Bitcoin. The new data centers will leverage Komi's abundant energy resources, including its oil, gas, and thermal power plants, making it an ideal location for mining operations, particularly given its cold climate, which is favorable for cooling the mining rigs.
Komi, not yet known as a major crypto hub, is looking to capitalize on its energy resources to draw more mining activity. The collaboration between the Komi Republic and power firm Energoresource-K marks a significant investment in the region's IT and digital technology sectors, with Energoresource-K committing approximately $386 million to the project.
In addition to the initial centers, the region plans to expand its data processing centers to other cities, positioning Komi as a rising player in Russiaโs mining ecosystem. This move comes on the heels of a report that state-owned gas giant Gazprom is also investing in a crypto mining subsidiary, planning a 5,000-rig mining center in Veliky Novgorod by 2028 with a budget of $452 million.
These developments follow Russian President Vladimir Putin's recent signing of a law legalizing cryptocurrency mining, pushing for regulation and infrastructure to support the industry. I guess all the sanctions didn't hit Russia heavy enough as they're just building new income streams!
Follow @Professor Mende - Bonuz Ecosystem Founder to stay updated!
#russia #putin #mining #bitcoinmining #vladimirputin $BTC
Russia's push into cryptocurrency mining is gaining momentum, as the northeastern Komi Republic plans to construct 15 new crypto mining data centers. According to TASS, regional governor Vladimir Uyba revealed that the first two centers will be built in Mikun and Sindor, with a combined cost of $27.6 million. These projects, backed by investors, signal Russia's continued focus on expanding its mining infrastructure.
While Uyba didnโt specify which cryptocurrencies will be mined, most Russian miners traditionally focus on Bitcoin. The new data centers will leverage Komi's abundant energy resources, including its oil, gas, and thermal power plants, making it an ideal location for mining operations, particularly given its cold climate, which is favorable for cooling the mining rigs.
Komi, not yet known as a major crypto hub, is looking to capitalize on its energy resources to draw more mining activity. The collaboration between the Komi Republic and power firm Energoresource-K marks a significant investment in the region's IT and digital technology sectors, with Energoresource-K committing approximately $386 million to the project.
In addition to the initial centers, the region plans to expand its data processing centers to other cities, positioning Komi as a rising player in Russiaโs mining ecosystem. This move comes on the heels of a report that state-owned gas giant Gazprom is also investing in a crypto mining subsidiary, planning a 5,000-rig mining center in Veliky Novgorod by 2028 with a budget of $452 million.
These developments follow Russian President Vladimir Putin's recent signing of a law legalizing cryptocurrency mining, pushing for regulation and infrastructure to support the industry. I guess all the sanctions didn't hit Russia heavy enough as they're just building new income streams!
Follow @Professor Mende - Bonuz Ecosystem Founder to stay updated!
#russia #putin #mining #bitcoinmining #vladimirputin $BTC