Mining

Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a “Ponzi scheme.”Yifan He, CEO of Red Date Technology, a major tech…

The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second…

These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a…

Bitcoin (BTC) miners may have already sparked a “capitulation event,” fresh analysis has concluded.In an update on June 24, Julio Moreno, senior analyst at on-chain data firm CryptoQuant, hinted the BTC price bottom could now be due.BTC…

Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt.In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days,…

Bitcoin (BTC) starts a new week still battling for $20,000 support as the market takes in a week of severe losses.What felt all but impossible just weeks ago is now reality as $20,000 — the all-time high from 2017-2020 — returns to give…

Despite data showing that the Bitcoin (BTC) price may have fallen to the point of being unprofitable for the average miner, Marathon Digital Holdings says it will continue working to accumulate the leading crypto asset. Charlie…

A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining.In a Thursday letter, many U.S. lawmakers including…

The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments.Russia’s state-owned gas giant Gazprom Neft has…

Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto…