Mining Blog & Mining News

Mining Blog & Mining News

Analysts See 'Seismic shift' In Bitcoin Mining Amid Chinese 'Crackdown'

Bitcoin (BTC) could be in for a fresh battering this week after reports emerged that some mining pool players including HashCow and BTC.TOP, are reviewing their operations in China as a response to central government pressure on the mining sector, while some industry observers argue that this might mean "redistribution of the entire Bitcoin mining network." Per Reuters, HashCow has stated that it will “stop buying new bitcoin rigs,” while BTC.TOP has “announced the suspension of its China busine...
Analysts See 'Seismic shift' In Bitcoin Mining Amid Chinese 'Crackdown'

RSK is Bitcoin’s Fastest Growing Layer, Not Liquid nor Lightning

Since the resolution of the Bitcoin (BTC) block size limit debate in 2017, there has been a general consensus that Bitcoin is likely to scale via a multi-layer protocol stack rather than stuffing every transaction onto the base blockchain. These secondary network layers, such as the Liquid sidechain and the Lightning Network, are often referred to as layer-two networks due to the different tradeoffs made with these systems in the areas of security, efficiency, and decentralization, in addition ...
RSK is Bitcoin’s Fastest Growing Layer, Not Liquid nor Lightning

Much Red, Very Down, Super Panic and 20 Crypto Jokes

What a week! Even more so than weeks prior. As the Cryptoverse was hard at work debunking Elon Musk's BTC criticism, with many accusing him of market manipulation, markets turned super-red in a flash crash, for which insiders gave several reasons, and BTC nearly tested USD 30K. And while many remain bullish, others warn that choppy waters could be ahead for a few weeks as new entrants are panic-selling. Tether and some other stablecoins took a brief plunge below USD 0.9, while skeptics remai...
Much Red, Very Down, Super Panic and 20 Crypto Jokes

What EIP 1559 Brings to the Ethereum Table

Ethereum (ETH) is changing. Not only is it undertaking the gradual process of transitioning to a proof-of-stake (PoS) consensus mechanism, but it’s only a couple of months away from significantly revamping its monetary system, via Ethereum Improvement Proposal (EIP) 1559. EIP-1559 proposes to split Ethereum gas fees into two parts: a tip which can be set by a transaction’s sender, and a base fee which is then burned. It’s this latter element which some have claimed will transform ethereum into a...
What EIP 1559 Brings to the Ethereum Table

Altcoins Take The Strongest Hit Again Amid China Crackdown News

As China is sending more negative news to the crypto market, altcoins are once again suffering the most. Bitcoin (BTC) dropped from USD 41,760 to below USD 37,000 in half an hour and continued correcting lower. At 19:53 UTC, it trades at USD 36,082 and is down by 10% in a day. Meanwhile, ethereum (ETH) dropped by 16%, reaching USD 2,355, while multiple altcoins are bleeding even more. USD 253m worth of trading positions in the crypto derivatives market were liquidated in the crypto derivatives...
Altcoins Take The Strongest Hit Again Amid China Crackdown News

CBDC in US Context, Bitcoin's Value Based on 'Wishful Thinking' + 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. CBDC news Federal Reserve Chair Jerome Powell announced that the US central bank will issue a research paper on a USD central bank digital currency (CBDC), along with asking for public opinion. In the statement, he said, “To help stimulate broad conversation, the Federal Reserve board will issue a discussion paper this summer outlining our curren...
CBDC in US Context, Bitcoin's Value Based on 'Wishful Thinking' + More News

Moving to Green Bitcoin May be Moving To a Two-Tier Bitcoin

Given the recent and increasing developments over the so-called 'green' bitcoin (BTC), it seems that the industry might be moving to a two-tier BTC. As Tesla chief Elon Musk and quite a few others criticized Bitcoin over its energy consumption and the potential impact on the environment, Twitter CEO Jack Dorsey, along with active management firm Ark Investment, have argued quite the opposite - that bitcoin incentivizes renewable energy. (And Musk agreed with this before he started critic...
Moving to Green Bitcoin May be Moving To a Two-Tier Bitcoin

Western Google Union, Palantir's Bitcoin, Dollar in Danger + 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. __ Payments news Money transfer company Western Union said it has teamed up with Google to provide users in the US with access to Western Union's "digital money movement experience" via the Google Pay app. Google Pay users in the US can now send cross-border payments through Western Union's global financial network of bank accounts, walle...
Western Google Union, Palantir's Bitcoin, Dollar in Danger + More News

Russian Crypto Miners Brace for Computer Chip Crisis Fallout

Russian crypto miners could be hit by the looming semiconductor shortfall, per a new report – as chipmakers warn of a sharp drop in production rates. Consumer electronics brands such as South Korea’s Samsung and LG have joined an increasingly loud chorus, which also includes the automakers Volkswagen, Audi, Seat and Škoda, warning of trouble ahead as semiconductor chips become increasingly hard to come by. Chipset manufacturers say they have been hit by supply chain issues, with some parts set t...
Russian Crypto Miners Brace for Computer Chip Crisis Fallout

Bitcoin Mining Difficulty Hits an ATH As Miners Send Bullish Signs

Bitcoin (BTC) mining difficulty hit its new all-time high (ATH), cutting into the profit margins of BTC miners that are still estimated to increase the computing power of the network even more despite the price of BTC has been stuck in a range recently. (Updated at 09:22 UTC with the latest mining difficulty data.) The measure of how hard it is to compete for mining rewards, known as mining difficulty, jumped by 21.5% today, reaching 25.05 T. It is the highest rise since late October 2017's ...
Bitcoin Mining Difficulty Hits an ATH As Miners Send Bullish Signs

Tesla & Elon Musk-Triggered Selloff Shakes Crypto Market, Raises Questions

Electric car manufacturer Tesla and its CEO Elon Musk once again moved the whole crypto market, triggering a sharp selloff, massive liquidations, and prompting speculations about Tesla's move and reigniting debates about Bitcoin (BTC) mining. (Updated at 12:18 UTC: updates throughout the entire text. Updated at 14:50 with additional comments and the latest market data.) Elon Musk announced that Tesla suspended vehicle purchases using BTC and is looking at other cryptoassets. BTC plunged from...
Tesla & Elon Musk-Triggered Selloff Shakes Crypto Market, Raises Questions

Six Upcoming Blockchain Projects You Should Be Watching

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Token offerings have been through multiple iterations over the years, fueled by the need for projects to gain recognition and liquidity for their tokens, and the insatiable appetite of crypto users for the latest and greatest new investments. With a multitude of projects raising funding the DeFi and NFT ecosystems are exploding. The latest iteration of...
Six Upcoming Blockchain Projects You Should Be Watching

Green Investments Help Bitcoin Miners Amid Possible Regulatory Crackdown

Regulators have been moving into multiple areas of the crypto industry, and they will – in one way or another – come after crypto mining powered by non-renewables, according to two miners that talked with Cryptonews.com. However, as the concerns, facts, and misinformation over Bitcoin (BTC)’s carbon footprint have reemerged during this cycle, mining companies that have been moving towards cleaner energy sources seem to be more prepared ahead of possible new mining-related regulations. Igor Rune...
Green Investments Help Bitcoin Miners Amid Possible Regulatory Crackdown

USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + 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. _ Tax news The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least USD 10,000 of crypto to be reported to the Internal Revenue Service, Bloomberg reported. "As with cash transactions, businesses that receive cryptoassets with a fair market value of more than USD 10,000...
USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News

Binance Investigations, MicroStrategy Buys More 'Durable 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. Exchanges news Major crypto exchange Binance is under investigation by the US Justice Department and Internal Revenue Service, Bloomberg reported, citing undisclosed people with knowledge of the matter, and noting that the federal agencies haven’t accused Binance of wrongdoing. As part of the inquiry, officials who probe money laundering and tax ...
Binance Investigations, MicroStrategy Buys More 'Durable Bitcoin' + More News

South Korea: Interest in Crypto Equal Between Younger and Older Age Groups

The authors of a detailed report on the profile of crypto investors in South Korea have concluded that Crypto Fever 2.0 has been marked by a spike in interest among older age groups – with those in their 40s and 50s expressing a similar amount of interest in tokens as the ever-crypto-keen 20-39 age group. The findings were published in a report compiled by the newspaper Hankook Ilbo, in association with the Institute for Social Data Science at POSTECH, one of South Korea’s biggest technology-foc...
South Korea: Interest in Crypto Equal Between Younger and Older Age Groups

Bitcoin May Double This Year Despite Energy Concerns - Pantera CEO

US-based major crypto investment firm Pantera Capital CEO Dan Morehead claims that the price of bitcoin (BTC) still might double this year despite the energy concerns. BTC has been stuck in a trading range for a while now, and Morehead told Bloomberg TV that he thinks it will break out. In their earlier letter to investors, the company had forecasted that BTC would hit 115,000 this August, and "it's essentially on pace to do that," said the CEO, "it hit all the monthly milestones up through ...
Bitcoin May Double This Year Despite Energy Concerns - Pantera CEO

Greenidge Goes Carbon-Neutral, DeFi Crime Is Picking Up + 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. Mining news The owner of the vertically integrated Bitcoin (BTC) mining and power generation facility in Upstate New York, Greenidge Generation Holdings, said it will operate an entirely carbon-neutral Bitcoin mining operation at this facility, starting June 1. The company said it will purchase voluntary carbon offsets from a portfolio of US gree...
Greenidge Goes Carbon-Neutral, DeFi Crime Is Picking Up + More News

Slumping, Pumping, Hitting, Hustling, Musking and 20 Crypto Jokes

This week in the fun world of crypto, as people were arguing again whether it’s time to switch to sats from BTC, bitcoin mining difficulty hit a new ATH, but then after ETH broke USD 4K and bitcoin rallied past USD 59K, Tesla Elon Musk once again moved the whole crypto market and triggered a sharp selloff. Furthermore, researchers found that traders are rotating from bitcoin to ethereum and alts as JPMorgan sees ETH as overvalued, DOGE hit an ATH before slumping spectacularly following Elon Musk...
Slumping, Pumping, Hitting, Hustling, Musking and 20 Crypto Jokes

Imagine Bitcoin as a Reserve Asset. What Then?

Governments have finally sat up and taken notice of crypto. For years they derided, criticized, and even banned cryptocurrencies, but now they’re rushing to get in on the act, with numerous central banks planning to roll out their own digital currencies in the coming months and years. As for real, decentralized cryptocurrencies, no government or central bank would currently dare admit to plans to buying up bitcoin (BTC) as a reserve asset. But if this happens, what it might mean on the internati...
Imagine Bitcoin as a Reserve Asset. What Then?

Fundstrat's Tom Lee Boosts Bitcoin Target 25% Despite Musk's Criticism

Tesla’s recent declaration it would no longer be accepting bitcoin (BTC), paired with bearish statements by its CEO Elon Musk, have done little to shake the certainty of investment research firm Fundstrat Global Advisors. The New York-based advisory business has increased bitcoin's price target for 2021 to USD 125,000, up 25%. “I don't think it's going to get people negative on bitcoin, but it is going to get people to focus on the problems that are being created by digital assets,” ...
Fundstrat's Tom Lee Boosts Bitcoin Target 25% Despite Musk's Criticism

Elongate: Market Rereads Bitcoin FUD Playbook & Waits For The Next Tweet

The Cryptoverse is hard at work debunking Tesla chief Elon Musk's Bitcoin (BTC) criticism, with many accusing him of narcissism and market manipulation, while some trying to guess what else might be used from the BTC FUD (fear, uncertainty, doubt) playbook. It's not news by now that the business magnate wields great power through his words, and specifically, his words tweeted to his 55m followers. He himself admitted to possessing the power of moving the markets, while studies and analy...
Elongate: Market Rereads Bitcoin FUD Playbook & Waits For The Next Tweet

Square Aims to Raise USD 2B, Bitcoin's Taproot Signal Strengthens + 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. Investments news Bitcoin (BTC) bull Jack Dorsey-led payments company Square announced its intention to offer, subject to market conditions and other factors, approximately USD 2bn aggregate principal amount of senior notes. The company said it intends to use the net proceeds from this offering for general corporate purposes, which may include pot...
Square Aims to Raise USD 2B, Bitcoin's Taproot Signal Strengthens + More News

Saxo Bank Has A New Crypto Offer, Ripple Gets New Partner + 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. Investments news Online trading and investment company Saxo Bank has launched a crypto offering enabling clients to trade bitcoin (BTC), ethereum (ETH), and litecoin (LTC) against EUR, USD, and JPY from a single margin account without the need to maintain a crypto wallet, according to an emailed press release. Due to the volatile nature of the i...
Saxo Bank Has A New Crypto Offer, Ripple Gets New Partner + More News

COVID Forces Chinese Internet Cafes to Turn into Crypto Mining Hubs

Chinese internet cafe owners are turning their businesses into crypto mining centers as social distancing measures continue to bite in the Middle Kingdom. According to The Time Weekly, via Sina, a huge number of the 24-hour internet cafes, created primarily for PC gamers, closed down in 2020 – when the coronavirus pandemic forced businesses to shut their doors. Almost 13,000 internet cafes may have shut as a result last year, the media outlet claimed, quoting statistics from the data compiler Ti...
COVID Forces Chinese Internet Cafes to Turn into Crypto Mining Hubs

Optimistic Rollups Not All the Same: A Review of Ethereum L2 Solutions

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Optimistic Rollups are often considered as the next major achievement for Ethereum, which will allow it to scale and take back the crown it has recently lost as the most used blockchain for DeFi. In a nutshell, Optimistic Rollups (OR) are a class of layer-two solutions that allow to multiply a blockchain’s throughput by offloading some of the computatio...
Optimistic Rollups Not All the Same: A Review of Ethereum L2 Solutions

Weeks Of Sideways Trading Ahead as Bitcoin Newbies Panic Selling to Hodlers

Bitcoiners are hopeful that bitcoin (BTC) will bounce back stronger following its recent Elon Musk-fuelled price setback – but the likes of Galaxy Digital CEO Michael Novogratz say that choppy waters could be ahead for at least the next few weeks as new entrants are panic-selling. BTC has had a turbulent month after months of steady growth, and dropped into the mid-to-low USD 40,000s on most exchanges over the weekend. The token is currently making a slow and unsteady recovery. Many have blamed...
Weeks Of Sideways Trading Ahead as Bitcoin Newbies Panic Selling to Hodlers

No, China Didn’t Just Ban Crypto (Again): Here’s What Really Happened

Reports that China has enacted a fresh crypto ban appear to be somewhat wide of the mark, despite a joint statement from three leading financial bodies underlining the fact that companies in the nation are barred from offering crypto-related services to their clients. (Updated at 16:37 UTC: updates throughout the entire text.) In a joint statement from the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China, published by...
No, China Didn’t Just Ban Crypto (Again): Here’s What Really Happened

The Big Tesla Short, Copper Raises USD 50M, Gemini's Waitlist + 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. Investments news Michael Burry, the American hedge manager who famously made some USD 100m for himself by speculating on the 2008 economic crisis, has a short position worth USD 534m against electric car manufacturer Tesla (TSLA), a regulatory filing shows. As reported, Tesla invested USD 1.5bn in bitcoin (BTC) and sold 10% of its BTC holdings i...
The Big Tesla Short, Copper Raises USD 50M, Gemini's Waitlist + More News

Mini Bitcoin Futures, UK Crypto Tax Guide, Michael Jordan & NFTs + 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 Major derivatives marketplace CME Group said it will expand its suite of crypto derivatives with the introduction of a new Micro Bitcoin futures contract on May 3, pending regulatory review. Micro Bitcoin futures will be one-tenth the size of one bitcoin (BTC). CME added that in 2021-to-date, 13,800 CME Bitcoin futures contracts (e...
Mini Bitcoin Futures, UK Crypto Tax Guide, Michael Jordan & NFTs + More News
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