Miners

In recent weeks, significant movements and sell pressure have rocked Bitcoin.  Long-term holders, early miners, and ETF managers have sold billions in BTC, raising concerns about the cryptocurrency’s short-term stability. Bitcoin Selling Pressure Accelerates Bitcoin long-term holders sold $1.2 billion in the past two weeks. This substantial sell-off has added pressure on the market.  According to Ki Young Ju, CEO of blockchain analytics firm CryptoQuant, this amount of capital in sell-side liquidity must be absorbed through over-the-counter transactions. Otherwise, brokers…

With eight Bitcoin miners having surpassed the $1 billion market capitalization threshold, the cryptocurrency market is experiencing an incredible upsurge that indicates a major industry boom. The top 5 cryptocurrencies ready to profit from this trend are being closely watched by investors and fans. In this regard, those hoping to catch the wave of this developing industry may want to invest in Bitcoin, Ethereum, Solana, Binance Coin, and Angry Pepe Fork. The Top 5 Cryptocurrencies To Buy In Order To…

Bitcoin has faced a significant amount of selling pressure over the past week, according to the latest on-chain data. Expectedly, this bearish pressure has had a notable impact on the price of the premier cryptocurrency. According to data from CoinGecko, the value of Bitcoin has declined by nearly 5% in the past seven days. On Friday, June 14th, the BTC price fell to around the $65,000 level — its lowest level in nearly a month. Bitcoin Miners Offload Over 1,200…

US investment firm Kerrisdale has declared an outright war against Bitcoin, offering a scathing review of the business model of the leading Bitcoin miner in the country. The Bitcoin community has defended the Bitcoin mining business, highlighting the financial opportunities and environmental benefits. Kerrisdale Capital, an investment management firm based in the U.S. has declared an outright war against Bitcoin mining, drawing great attention from the crypto community. Revealing its intent on the X platform, the investment firm offered a…

The winds of change are blowing through the crypto mining industry. The highly anticipated halving event in April 2024, which sliced block rewards in half, has sent shockwaves through the ecosystem. Daily revenue for miners has plummeted by over 70% since the halving, forcing them to scramble for new avenues to secure their bottom line. Enter Artificial Intelligence (AI). Buoyed by the success of projects like OpenAI’s ChatGPT, AI computing is experiencing a surge in demand. This, coupled with potentially…

Bitcoin Hardware Store in El Zonte sells Bitaxe mini ASICs to promote decentralized Bitcoin mining in El Salvador. Bitaxe Supra, with a hash rate of 750 GH/s and 18 watts power usage, costs about $5 monthly. In El Salvador, the Bitcoin Hardware Store, located in El Zonte—also known as Bitcoin Beach—has begun selling Bitaxe’s miniature mining devices. These mini ASICs aim to promote decentralized Bitcoin mining within the Central American country. This initiative was announced by the store, which specializes…

Bitcoin miners in the U.S. spent $2.7 billion on electricity in the early months of 2024. Post-halving in April, the energy required to mine one Bitcoin increased by two times. The Bitcoin mining industry in the United States has seen a sharp increase in electricity usage and costs in the first quarter of 2024. There has been a growing concern for the sustainability and efficiency of the energy sector due to the rising demand for energy. Paul Hoffman, an analyst…

The post Post-Halving Slump: Miners Turn to Risky BRC-20 Projects Amid Revenue Drop appeared first on Coinpedia Fintech News After the halving, miner revenue fell from $74.9M to $36.6M per day. Before the halving, average monthly miner revenue from fees was below 5%, but now it’s over 10%, a high level (blue bars). In past cycles, these high fee periods lasted 384 and 423 days, respectively, with the current value at 189 days. To make up for lost revenue, miners…

The post Miners Holding Steady as Bitcoin Activity Surges appeared first on Coinpedia Fintech News Bitcoin miners are playing the long game, with the Miners’ Position Index (MPI) at -1.0527, indicating they’re selling less compared to the one-year average. This cautious approach suggests confidence in future gains. Meanwhile, Bitcoin network activity is heating up, with active addresses reaching 1,087,283—a 10.54% jump in just 24 hours. The surge in wallet activity signals increasing engagement and transaction volumes. As miners hold tight…