Mining

Bitcoin-Miners-in-Tug-of-War,-HODL-vs-Sell-Bitcoin-(BTC)
Bitcoin Miners in Tug-of-War, HODL vs Sell Bitcoin (BTC)

Miner Hut 8 is holding over $222,000,000 worth of Bitcoin (BTC). Charts show that a significant amount of Bitcoin miners are selling their BTC.   Many are expecting the price of Bitcoin to shoot soon based on past price patterns. Miner Hut 8 holds 7,078 BTC, according to one of Bitcoin magazine’s latest tweets. In detail, this amount of BTC comes up to over $222,000,000 in worth. More so, the tweet claims that Miner Hut is keeping 100% of the Bitcoin (BTC) that it mines. This is grand news for Bitcoin holders and crypto enthusiasts everywhere. To highlight, the crypto community

Weekly-Crypto-Market-News-Round-Up
Weekly Crypto Market News Round Up

McDonald’s China Creates Its Own NFT Despite China Crypto Ban Axie Infinity Reaches 2m Players Amid AXS Price Surge and More The crypto space is slowly getting better as days go by. In fact, it is seen that the crypto space has been pumping its market cap in the past few days. At the time of writing, the market cap of the entire crypto market amounts to over $2.4 trillion with a 24-hour growth rate of almost +1%.  The surge of Bitcoin is also one of the hottest topics in the crypto space in the past few days. This is

Bitcoin Miners Begin Accumulating BTC
Bitcoin Miners Begin Accumulating BTC, Sparks New Bullrun

Bitcoin miners have begun to accumulate Bitcoin after weeks of selling.  This is a clear indication that Bitcoin is heading towards its next bullrun.  Crypto analysts are certain that Bitcoin will moon in the next few months. In lieu of Bitcoin breaking its $48,000 resistance point and soaring up beyond $50,000, the crypto and Bitcoin community seems to be joyously back on track. One example of this new firepower is the fact that Bitcoin miners are back to accumulating Bitcoin.  As we can see from the image attached to this tweet from Twitter user Tamil Crypto School, Bitcoin miners have

Iran Resumes Crypto Mining in September
Bitcoin Regains $50K Foothold As Iran Resumes Crypto Mining in September

Iran will approve crypto mining in September. The lifting of the ban will only be for approved crypto mining firms. Meanwhile, Bitcoin price has reached $50,000 again. Bitcoin price is back at $50,000, amid recent news that Iran is undergoing preparations to approve crypto mining activities of authorized miners possibly in September. The announcement was made by Tavanir, the country’s foremost energy corporation.  Previously, the country banned crypto mining even for firms that have received approval from the government. According to the country’s leadership, this was due to power issues given the energy sucked by crypto mining farms for their

Bitcoin and Ethereum Miners Earn Record Revenues
Bitcoin and Ethereum Miners Earn Record Revenues for July

Ethereum and Bitcoin miners earned higher revenues in July. ETH revenue rose by 6.63% while BTC rose by 15.8% However, the crypto market is still struggling to rebound after the May crash. Miners of top cryptocurrencies Bitcoin and Ethereum recorded a revenue rise in July. Notably, ETH miners earned 505,300 ETH, while BTC miners earned $971 million. In fact, ETH miners’ revenue increased by 6.63% from June to July. Also, handling fees accounted for about 18% of the increase. Meanwhile, BTC mining revenue increased by 15.8% from $839 million in June. Of note, crypto mining has recently come under fire

Bitfarms Boosts BTC Output
Bitfarms Boosts BTC Output Amid Easier Mining Conditions

Bitfarms has improved its BTC mining output amid the easier mining conditions. Bitforms deposited 1,445 BTC produced this year into custody. Also, the mining firm utilizes green electricity to power its mining operations. Listed crypto mining company, Bitfarms Ltd has ramped up its mining operations. The company is taking advantage of recent crypto mining bans in China to expand its market dominance.  The mining operation reportedly mined 1,357 BTC over the first half of 2021. In addition, Bitfarms deposited 1,445 BTC into custody. Notably, the BTC deposit is over 95% of the company’s BTC production so far this year.  Also,

Ukraine Nabs Crypto Miners
Ukraine Nabs Crypto Miners For $259K Electricity Theft

Ukraine police recently found an illegal crypto mining farm. The mining farm allegedly stole up to $259,000 worth of electricity from a power plant. Also, authorities seized 1000s of mining devices including PS4 gaming consoles. Police in Ukraine uncovered a crypto mining farm that was stealing electricity from Vinnytsia city, southwest of Kyiv. The crypto mining enterprise allegedly stole electricity worth $259,000 from the Vinnytsiaoblenergo power plant.   In addition, police seized 1000s of mining devices like computers, gaming consoles, and graphic cards. As such, this is the largest crypto mining farm the Ukraine police have discovered to date.  However, the

Crypto Mining Ban Tightens in Iran
Crypto Mining Ban Tightens in Iran as BTC Price Suffers

Iran continues the cracking down of crypto mining facilities The Iranian authorities have seized a total of 7000 mining computers The hunt for crypto mining farms continues. Aside from China, other countries like Iran are also cracking down crypto mining facilities. As a result, the Iranian police have seized 7000 mining computers in the west capital of the country. This movement has been made to prevent the power shortage in Iran in the peak summer months. Furthermore, the ban will last until September 22. However, this movement by the authorities gathered mixed opinions in the country. There are people who

What Next for Chinese Bitcoin Miners
After Government Crackdown, What Next for Chinese Bitcoin Miners?

Chinese Bitcoin miners are either shutting down or relocating amid government crackdown. Those that did not exit the market are selling bitcoins to move to crypto mining-friendly places like Texas and Kazakhstan. Publicly-traded Chinese Bitcoin mining firm BIT Mining has shipped 320 machines to Kazakhstan to restart its operations. The Chinese government has ordered the closing of Bitcoin mining activities within the country. This has affected the Bitcoin community at large, especially because more than half of the network’s hashing power comes from Chinese miners. Now that these Chinese miners cannot mine bitcoins in the country any longer, what will

BTC Price Plunges as China Slays Crypto Mining
BTC Price Plunges as China Slays Crypto Mining and Trading

Bitcoin price drops as China continues its crypto ban campaign MicroStrategy bought an additional 13,005 BTC Bitcoin price plunges drastically as China continues its campaign against cryptocurrencies. This movement of China has been made to control the financial risk in the country. Furthermore, the People’s Bank of China (PBOC) has reached out to some payment firms to strengthen their regulations against crypto trading. The China Construction Bank and Alipay are some of the major payment firms that the PBOC has invited. This initiative made by the PBOC aims to stop criminals from abusing cryptocurrencies in their transactions. PBOC explained further:

BTC Dives Below $36k as China Cracks Down BTC Miners
BTC Dives Below $36k as China Cracks Down BTC Miners

Bitcoin fails to maintain its position above the uptrend position of $40k. China continues the cracking down of Bitcoin mining farms. Bitcoin fails to maintain its position above the uptrend position of $40k. As a result, the price of the crypto falls below $35k with a 7-day decline rate of -2.1%. This price decline of crypto is due to some issues that BTC is facing right now. The continued cracking down of Bitcoin mining farms is one reason to consider. Specifically, the shutting down of Bitcoin mining farms is a very hot topic in China. This movement comes after the

Crypto-Mining-in-Abkhazia-Shut-Down.
Crypto Mining in Abkhazia Shut Down Over 300 Mining Rigs

Abkhazia continues to shut down crypto mining farms The authorities have sealed and disconnected a total of 300 mining rigs The local government of Abkhazia, a partially recognized South Caucasus republic, continues to shut down crypto mining farms. Specifically, the authorities have already closed eight crypto mining farms from June 1 to June 14. This movement was made to enforce the country’s law on the crypto mining ban. The authorities have sealed and disconnected a total of 300 mining rigs. Furthermore, the largest mining farm that was inspected by the Abkhazia police was in Gali District. The mining farm in