Bitcoin Miners Are The Latest To Sell
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Bitcoin Miners Are The Latest To Sell
Miners spend a lot of money on expensive machinery, to mine Bitcoin profitably. However, there is an issue when the price of mining is still high and Bitcoin crashes faster than you can spell "Benedict Cumberbatch."
Miners are currently paying more to mine than they are earning from doing the actual mining. Due to this, they are compelled to liquidate their holdings of BTC.
One of the biggest bitcoin miners in the world, Core Scientific, sold $165M worth of bitcoin to pay for servers and pay off some debt. This represented more than 75% of their whole Bitcoin holdings.
BTC worth $15.6 million was sold by Argo Blockchain PLC to cover operating costs and settle a loan with Galaxy Digital.
A Canadian cryptocurrency mining farm called Bitfarms sold almost $62 million worth of bitcoin to settle some debts and increase liquidity. This represented about 50% of their total Bitcoin holdings.
Revolut Partnered with Polkadot Introduces "Learn & Earn" cryptocurrency service.
To assist users in expanding their understanding of cryptocurrencies and related subjects, such as blockchains, the most well-known tokens, and protocols, a number of quick courses have been developed.
Revolut's 18 million customers can earn up to 15 USD in DOT tokens by completing these short and simple courses and passing the final quiz.
Proof of stake has its doubters, and Vitalik Buterin has some "hot" responses for them.
The Ethereum co-founder slammed Swan Bitcoin's managing editor Nick Payton, who argued on Thursday that any cryptocurrency that powers a proof of stake blockchain (which uses validators with pledged, or "staked," assets to verify transactions) - is a security.
Buterin took his counterargument a step further by offering the editor a tongue-in-cheek "grammar" correction.
Texas Bitcoin miners are turning off their power, as a heatwave threatens the grid with rolling blackouts.
Almost all industrial-level Bitcoin miners in Texas have kept their promise to halt operations while the state deals with a heat wave that is expected to strain the state's power grid.
According to the president of the Texas Blockchain Association, the collective move returns more than 1% of power in Texas to retail and commercial users.
Due to its lax rules and friendly administration, Texas has emerged as one of the most popular mining locations in the United States.
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