bitcoin miners

Multiple data points indicate this about Bitcoin’s breach of $15K

Five months into the third halving and Bitcoin’s price has rallied 75%. Most of this can be attributed to the race to over $15000 in the past 24 hours. There was a 6.47% daily gain and this could possibly be termed parabolic. Hitting a high of $15000 did not even surprise most seasoned traders as...
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Is the rise in Bitcoin TXN fee by 540% a cause for concern?

Bitcoin fees are soaring again, reaching a level of $12.71 as of yesterday. The recent spike in fees has been particularly steep over the past few days, with the current level reflecting a 540.3% increase. Source: Ycharts Average fees can spike when there is congestion in the network, which currently seems to be the case. Unconfirmed...
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Bitcoin miners are changing this trend. What to expect next?

Bitcoin mining is a fairly simple activity from a first-principles economics pov. All other activity in the network is complementary and based on this principle and if Bitcoin had no one but its community of miners, it’d still survive. However, mining is misinterpreted by most.  Hashrate influences price or hash follows price. Neither of these...
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Bitcoin: Survived – Yes, but has it recovered?

A perfect week, one that saw the market recover to an extent, came to an abrupt halt when Bitcoin dropped by $350 over the last 24-hours. Riding high on the charts, Bitcoin, trading at a price of $10,575, soon fell down to $10,204 in a matter of just 8 hours. In fact, the aforementioned fall...
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With Bitcoin’s hash rate falling, what’s keeping miners afloat?

Bitcoin’s price has remained consolidated above $11k for quite a while in August, however, a sudden pump in the market on 17 August did not just push the BTC price above $12k, but its hash rate also marked an ATH. According to a recent report by Arcane Research, the 7-day moving average hash rate of...
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Bitcoin and miner capitulation: Was the threat ever real?

Once upon a time, Bitcoin‘s shadow was so overwhelming that many of the market’s altcoins failed to get the attention they deserved. Over the last few months, however, this narrative has steadily changed. While Bitcoin still maintains its superiority as the world’s largest and most-favored digital asset, other altcoins such as Ethereum, Chainlink, and Cardano...
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China Forces Bitcoin Miners to Scale Down Amid Electricity Shortfall

With the dry season approaching, Bitcoin miners in China’s Sichuan province may be forced to reduce their electricity consumption. Prioritizing Communal Electricity Needs Over Crypto Miners According to Asia Times, authorities in Sichuan Province, China, are reportedly leaning on Bitcoin miners to cut down electricity consumption. This news comes amid the dry season in Southwest...
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Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020

Two of the largest bitcoin mining chip manufacturers have plans to equip their products with 5nm chips in the near future. Just recently, China-based manufacturer Bitmain purportedly produced the world’s first 5nm test-grade bitcoin mining chip and more efficient mining rigs will see mass production next year. The firm Canaan also recently announced that the...
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