Mining Blog & Mining News

Blog • 21 January 2021, Thursday, 13:00

Bitcoin Protection, New Surveys, Mnuchin's Idea On Ice + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news Not only has bitcoin (BTC) proved lousy at offsetting short-term drawdowns in big sell-offs, its very popularity among retail investors is increasing the token’s link with cyclical assets, according to JPMorgan Chase & Co. cross-asset strategists, as reported by Bloomberg. However, crypto investing might be best seen as way to pr...

Blog • 20 January 2021, Wednesday, 13:00

Bitcoin Less Risky Than Tesla, Ethereum at USD 10,500 + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news While the most popular cryptocurrency, bitcoin (BTC), is considered to be almost in the "extreme bubble" territory, more surveyed market professionals are in favor of BTC than electric car manufacturer Tesla when forecasting how both assets might perform over the next 12 months. 56% of 627 respondents surveyed by Deutsche Bank last ...

Blog • 19 January 2021, Tuesday, 08:00

Ethereum In ATH Territory Against USD, But Far from ATH Against Bitcoin

Even though Ethereum (ETH) has entered its all-time high (ATH) against the US dollar territory today, it's still many satoshis away from its ATH against bitcoin (BTC). (Updated at 12:09 PM UTC with the latest price data.) Three years after reaching a major peak, ethereum may be surpassing it soon. It reached its previous all-time high on January 13, 2018, with the price of USD 1,432 per coin, according to Coinpaprika. As reported, Coingecko put the figure at USD 1,448.18 on its ETH page. Mes...

Blog • 19 January 2021, Tuesday, 06:00

Bitcoin Block 666,666 Fights Evil With a Bible Verse

The double 'number of the beast' Bitcoin (BTC) block has been mined, carrying a Bible verse as a message. Late last night, UTC time, the block number 666,666 was mined, and it included an aptly placed message by the sender, reading: "Do not be overcome by evil, but overcome evil with good." This is a Bible Verse, from the Epistle to the Romans, 12:21. The message was embedded in the particular code, called OP_RETURN script, which allows using up to 80 bytes of data for a message. Given...

Blog • 18 January 2021, Monday, 14:00

New SEC Chair, Confiscated Bitcoin Miners, Trader vs. Banks + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Former Commodity Futures Trading Commission Chairman Gary Gensler, who is considered to be pro-crypto and blockchain-savvy, has been officially named chair of the US Securities and Exchange Commission (SEC) by President-elect Joe Biden. Currently, Gensler is a Professor of the Practice of Global Economics and Management, MIT Sloan...

Blog • 18 January 2021, Monday, 08:00

Watch Grayscale Bitcoin Inflows for the USD 40K Breakout Signs - JPMorgan

As bitcoin (BTC) is now seemingly stuck in a range, it could both fall further or push through the USD 40,000 level again - with Grayscale Bitcoin Trust (GBTC) possibly being a determining factor. After hitting a new all-time high of USD 42,000 in early January, last week, bitcoin dropped to almost USD 30,000 before moving back to USD 40,000 and then correcting lower again, - and there could be further losses, fuelled by the "trend-following investors" leaving the space, per the strategists at J...

Blog • 17 January 2021, Sunday, 10:00

IRS Updates Instructions To Tax Individual Crypto Investors

The US Internal Revenue Service (IRS) has released a new version of its draft instructions that clarify the definition of virtual currency. The tax agency aims to guide individual taxpayers on how to fill in the 1040 form that asks them whether they bought or sold cryptoassets last year, but it still adopts a broad approach as to what constitutes these assets. According to the IRS, a transaction involving virtual currency could include, among others: Receiving or transferring virtual currency f...

Blog • 17 January 2021, Sunday, 08:00

Bitcoin Snowball Is Expected To Hit More Institutions in 2021

Institutionalization, professionalization, commercialization, and inclusion of bitcoin (BTC) in portfolios of hedge funds, treasuries and others is likely to continue its upwards trajectory, providing BTC with endorsement, recognition, and validation, further leading to adoption and price appreciation, according to industry insiders talking to Cryptonews.com. The institutionalization of cryptocurrency was the emerging theme of 2020, said Seamus Donoghue, VP Sales and Business Development at MET...

Blog • 17 January 2021, Sunday, 06:00

Grayscale Replaces XRP With Bitcoin, Ether, LTC, and BCH + More news

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investing news Grayscale Digital Large Cap Fund said it has removed XRP and used cash proceeds to purchase the remaining fund components: bitcoin (BTC), ethereum (ETH), litecoin (LTC), and bitcoin cash (BCH). Prior to the sale of XRP on January 4, 2021, XRP was approximately 1.46% of the fund. As of January 04, the fund had USD 282.6m in assets u...

Blog • 17 January 2021, Sunday, 04:00

Two Reasons Why Bitcoin Differs From Google, Amazon, & Facebook Networks

One of Bitcoin (BTC)’s most outspoken and highest-profile cheerleaders, Stone Ridge Asset Management founder Ross L. Stevens, has written to shareholders in his company to talk up the most popular cryptocurrency – and its role in the company’s future, drawing parallels to investors backing companies like Amazon, Google and Facebook in the firms’ early days. Stevens claimed that “from a valuation framework perspective,” he believed Bitcoin “should be viewed identically to those network business m...

Blog • 17 January 2021, Sunday, 02:00

Major ShapeShift, Crypto Boom at Revolut, Interest In Ethereum Peaks + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news ShapeShift said it has integrated decentralized exchange protocols and is sunsetting its 6+ year business of trading with customers. ShapeShift’s users no longer need to provide personally-identifying information to them. Also, the platform said it will not transact with customers as they will be trading directly with decentralize...

Blog • 17 January 2021, Sunday, 00:00

Bitcoin Overtakes Ethereum, BNB Valuation, BitMEX Completes Verification + More news

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoptions news Bitcoin (BTC) has outperformed Ethereum (ETH) in terms of the daily transferred value, reaching USD 14.58bn per day, compared to Ethereum's USD 13.96 per day, according to the data provided by Money Movers. BTC re-took the lead in the second half of December 2020, after Ethereum had surpassed it in early September last year. A...

Blog • 16 January 2021, Saturday, 22:00

US Dollar Crashes To USD 40,000 per Bitcoin

It took 17 days for the most popular cryptocurrency, bitcoin (BTC), to jump from USD 20,000 to USD 30,000, and less than a week to hit USD 40,000. At the time of writing (18:16 UTC) it reached this level on multiple exchanges, such as Binance, Bitstamp, and HitBTC. After reaching this milestone today, the market capitalization of BTC stands above USD 740bn. This network is now more valuable than the popular electric car maker Tesla, controlled by the world's richest person, Elon Musk, who in...

Blog • 16 January 2021, Saturday, 20:00

Bitcoin Mining Difficulty Set to Hit a New Peak, as Price & Hashrate Hit Theirs

At the time bitcoin (BTC) price is breaking all-time highs, the mining difficulty is set to break its record tomorrow, while the hashrate has already surpassed its own. Both buying and mining BTC has been getting tougher. Per the BTC.com, a major mining pool, estimates, mining may become the most difficult it's ever been in just a day from now. Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, is expected to climb to 20.58 T, whereas the previous peak...

Blog • 16 January 2021, Saturday, 16:00

Bitcoin Mining in 2021: Growth, Consolidation, Renewables, and Regulation

Bitcoin (BTC) mining has had a couple of less profitable years. After the highs of late 2017 and early 2018, profitability declined by March 2020 to as little as USD 0.0693 per day for every 1 THash of mining power (having been USD 3.139 in January 2018). However, with the bull market of late 2020, the price of bitcoin has risen strongly, and with it mining profitability has steadily crept up to USD 0.222, representing a rise of 200% since May’s Bitcoin halving. Given that analysts claim bitcoin...

Blog • 16 January 2021, Saturday, 12:00

Not Only Bitcoin Price Is Changing During This Bull Run

As the most popular cryptocurrency, bitcoin (BTC), keeps scoring its new all-time highs, industry observers see important changes on the BTC adoption front too. According to Anthony Lauriola, Chief Operating Officer at blockchain portfolio company Dan Holdings, in 2020, we saw “a significant shift in the way people view cryptocurrency,” as people are starting to see it more as a method of payment and not just a store of value - a trend Lauriola said will continue into 2021. “As we see more glob...

Blog • 16 January 2021, Saturday, 10:00

Is Bitcoin’s Bull Run Over?

Juan Villaverde is an econometrician and mathematician devoted to the analysis of cryptocurrencies since 2012. He leads the Weiss Ratings team of analysts and computer programmers who created Weiss cryptocurrency ratings. Dr. Bruce Ng is an educator in the field of Distributed Ledger Technology (DLT) and has been a lead crypto-tech analyst for Weiss Cryptocurrency Ratings since shortly after their launch. _ Bitcoin (BTC) price dropped significantly this week leading up to the open of old-school ...

Blog • 16 January 2021, Saturday, 08:00

World's Biggest Publicly Traded Hedge Fund Firm Defends Bitcoin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news Bitcoin (BTC)'s volatility is simply part of the price discovery in a new asset class, and these are not bubbles, analysts at Man Group, the world’s biggest publicly traded hedge fund firm, said, as reported by Bloomberg. According to them, this volatility is "part of a not-so-random walk that will eventually dwindle to give bit...

Blog • 16 January 2021, Saturday, 06:00

Retail Investors Find an Equalizer with ProBit Exchange's 50% Discounted BTC Exclusive Offer

Disclaimer: The text below is a press release that was not written by Cryptonews.com. ProBit Exchange turned heads in the crypto community following a special BTC holiday edition of its Exclusive subscription model featuring 50% off market price offers for many premium tokens in the space. The platform has seen fit to hold another extended subscription period starting January 27 for all retail investors and will likely be the last opportunity to buy Bitcoin for under $20,000 for the foreseeable ...

Blog • 16 January 2021, Saturday, 04:00

Grayscale Scores Another Record, Buys 194% More Bitcoin Than Miners Generated

US-based major crypto investment company Grayscale said it once again "experienced unprecedented investor demand" in the last quarter of 2020. (Updated at 16:59 UTC: updates throughout the entire text). The company said it raised USD 3.3bn in 4Q20, bringing YE20 inflows to USD 5.7bn. In comparison, in 2019, the company raised USD 600m in total. Last year, Grayscale institutional capital represented 93% of the total inflow. Also, in 4Q20, inflows to Grayscale Bitcoin Trust were a record USD 2.8bn...

Blog • 16 January 2021, Saturday, 02:00

OCC's Fair Banking Rule, Gemini IPO, Coinbase Altcoins Hub + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Banking news The US Office of the Comptroller of the Currency (OCC) today released its finalized rule to "ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations." The rule codifies more than a decade of OCC guidance stating that banks ...

Blog • 16 January 2021, Saturday, 00:00

Maduro Promises ‘Revival’ for Venezuela’s Foundering Petro Token

Nicolás Maduro, the disputed President of Venezuela, has predicted big things to come for crypto in the nation in 2021 – claiming that the state-issued petro (PTR) token will undergo a renaissance in the year ahead and stating that a “complete digitalization process” will transform the economy in the next 12 months. In an address to the nation in the parliament building, Maduro spoke of a “revival” for the petro, which many observers have claimed has thus far failed as a token, with few citizens...

Blog • 15 January 2021, Friday, 22:00

Bitcoin ETP Boom, Crypto & Zero, Mortgage & Cows On Blockchain + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news German bitcoin exchange-traded product (ETP) from ETC Group has garnered volumes matching those of popular European funds, as BTCetc Bitcoin Exchange Traded Crypto (BTCE) has recorded average daily trading amounting to EUR 57m (USD 68.9m) in the first 11 days of January, according to the Financial Times, citing data from Deutsche Bö...

Blog • 15 January 2021, Friday, 20:00

Associated Gas Pilot Could Lead to Huge Boon for Russian Bitcoin Miners

Russian Bitcoin (BTC) miners could be in for a massive, unexpected environmentally friendly windfall if a pilot leads the nation’s energy giants to embrace crypto mining en masse. Further details have been unveiled about a plant operated by the oil arm of Gazprom, Gazprom Neft, which late last year invited miners to set up shop at an oilfield in the Khanty-Mansi region. The miners have been at work with a month-long Bitcoin mining effort. Pumping oil from fields like these produces associate gas...

Blog • 04 January 2021, Monday, 13:00

XRP Army Fils A Petition, Digital Yuan Giweaway + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Legal news XRP investors have filed a petition against the US Securities and Exchange Commission (SEC) on December 29, claiming "irreparable harm and damages" that declaring XRP a security causes them. The petitioners argued that the SEC is not protecting the investors it's tasked with protecting, and that the SEC complaint against Ripple is ...

Blog • 31 December 2020, Thursday, 11:00

Total Tokenization, Taproot, Bitcoin ETF + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news The vice president of the Russian metals giant Norilsk Nickel has spoken out about his company’s ambitious tokenization plans, saying new platforms now make it possible to “tokenize anything.” The firm has recently unveiled its first offerings on its metals token platform, which was green-lighted by the Russian Central Bank earlier ...

Blog • 31 December 2020, Thursday, 09:00

Cryptonews Rewind 2020: Q4 - ETH 2.0 Phase 0, BTC Rally, Ripple & Ledger Troubles

Here is what happened in the Cryptoworld in the last quarter of this year: Total crypto market capitalization in Q4 __ Total crypto market capitalization in 2020 _ October And thus the final quarter of the year begun. The news hit the Cryptoverse: three owners of BitMEX and five related companies were charged with operating an unregistered trading platform and violating multiple regulations. And then, Arthur Hayes and Samuel Reed stepped down from "all executive management responsibilities". Ho...

Blog • 31 December 2020, Thursday, 05:00

Binance to Cover USD 10m in Losses for Users Affected by the COVER Hack

Following a COVER smart contract hack, major crypto exchange Binance announced they will use their funds to cover their users' losses to the tune of USD 10.1m. "In addition to the compensation plan from the COVER team, Binance will utilize the Binance SAFU Fund to recompense a total of [USD] 10,107,505 USD (distributed in 8,171,634.10 BUSD and 2,581.16 ETH) to affected and eligible users," said the exchange in their recent post. According to them, a large number of minted COVER tokens - gre...

Blog • 30 December 2020, Wednesday, 21:00

Power-starved Abkhazians Face Internet Restrictions in Crypto Mining Crisis

After months of power shortages leading to blackouts, brownouts, planned multi-hour electricity shutdowns and a blazing inferno at a power substation, citizens in Abkhazia are now set to be restricted in their internet activities as the government wages a confused war against crypto mining. After a series of seemingly mind-boggling u-turns and law changes, the government of the de facto South Caucus state has issued a temporary ban on crypto mining, which has gained massive popularity in Abkhazi...

Blog • 30 December 2020, Wednesday, 11:00

Cryptonews Rewind 2020: Q3 - DeFi Summer, New Bitcoin Bulls, More Hacks

Here is what happened in the Cryptoworld in the third quarter of this year: Total crypto market capitalization in Q3 July In July, the decentralized finance (DeFi) summer got hotter. Yield farming boosted by liquidity mining was all the rage, with compound COMP, BAL, and YFI all taking a turn in the spotlight. Cardano (ADA) entered a custody agreement with crypto exchange Coinbase, and founder Charles Hoskinson raised the idea of a collaboration with Litecoin (LTC). Dogecoin soared as TikTokers ...

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