The Texas-based bitcoin mining giant is entering a merger agreement with SilverSun Technologies, a publicly-traded business technology solutions provider, as Rhodium is planning to list on Nasdaq after an initial delay. Meanwhile, the fall in the price of BTC and the ongoing crypto winter has caused bitcoin mining companies to struggle to stay afloat. Rhodium...Read More
Prominent business intelligence and software company MicroStrategy is looking to hire a software engineer to develop a Lightning Network-based SaaS platform. This comes shortly after the firm’s former CEO – Michael Saylor – stepped down. According to its job listing, the company has advertised for a position that seeks an experienced software developer for a...Read More
The American asset manager that specializes in cryptocurrencies – Pantera Capital – is looking to raise $1.25 billion for its second blockchain fund. Not long ago, the head of the company – Dan Morehead – argued that the digital asset market had hit its bottom in June and a bull run is on the horizon....Read More
On-chain data shows that Bitcoin’s mining difficulty was lowered to 31.36 trillion hashes at a block height of 756,000. Despite this, the Bitcoin ecosystem is still guarded by the most secure blockchain network. According to data from BTC.com, the Bitcoin mining difficulty adjustment decreased by approximately 2.3% on September 28th. The latest decline comes two weeks...Read More
A new study published Tuesday by the Cambridge Center for Alternative Finance (CCAF) shows that almost 62% of Bitcoin’s total energy consumption since January 2022 was generated from fossil fuels. This means renewable sources only amounted to 38% of the total energy consumed by BTC miners this year. As a Proof-of-Work (PoW) blockchain, processing and...Read More
Bitcoin’s push above the coveted psychological $20,000-level came after nearly 10% gains over the past 24 hours. This was followed by a mass profit-taking session as traders anticipating the threshold began selling their bags, as Santiment’s data. 📈 Many traders were apparently awaiting the $20k threshold to begin selling their bags. As #Bitcoin crossed back...Read More
Douglas-based cryptocurrency exchange CoinCorner has partnered with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate Bitcoin transactions in the United Arab Emirates (UAE). Under the agreement, Seed Group will aid in the expansion of CoinCorner’s operations across the emiratesand the wider Middle East as well as...Read More
Attempting to fight the raging inflation, the Bank of England raised the interest rates by 50 basis points today. BTC’s price remained stable, without any significant volatility, unlike what happened yesterday when the Fed did the same. The inflation rates in many countries skyrocketed in the past several months, and the UK is no exception....Read More
The Brazilian authorities reportedly ordered Glaidson Acácio dos Santos (known as “Bitcoin Pharaoh”) to deposit 19 billion BRL (nearly $3.7 billion) in court. This sum will be transferred to more than 122,000 investors and creditors who have become victims of his fraudulent cryptocurrency scheme. Last year, the Brazilian Federal police organized a special mission called...Read More
The authorities of Colorado announced that state residents can now pay their taxes in cryptocurrencies instead of fiat. Among the supported digital assets are the two biggest by market capitalization – Bitcoin (BTC) and Ether (ETH). Still, Colorado’s Revenue Department is not allowed to accept direct crypto payments, which is why it partnered with PayPal,...Read More
The largest BTC corporate holder – MicroStrategy – has stayed true to its word by making another bitcoin purchase earlier today. The firm accumulated 301 coins at an average price below $20,000 and rounded up its entire stash to 130,000. MicroStrategy’s founder and executive chairman – Michael Saylor – took it to Twitter today to...Read More
Nicholas Merten – a veteran cryptocurrency analyst and founder of DataDash – has called for Bitcoin to sink to $14,000 following its plunge below $19,000 over the weekend. The analyst cited both technical and macroeconomic factors, including an indicator that he calls “absolutely damning” for Bitcoin’s price. Deeper Waters for Bitcoin? In a video published...Read More
The cybercrime team of the Central Netherlands police arrested a 39-year-old resident of Veenendaal on suspicion of laundering tens of millions of euros via stolen cryptocurrencies. The police also suggested that the individual amassed his digital asset holdings through fake updates from crypto wallet Electrum. The Latest Crypto Scam in the Netherlands The Netherlands’ police...Read More
The Central Bank of Bahrain (CBB) is set to test a Bitcoin payment processing and payout solution in collaboration with OpenNode. According to the official press release, the BTC payment processor plans to provide the infrastructure for the solution. The Regulatory Sandbox was first launched in 2017, following which the CBB authorized OpenNode to participate...Read More
Bitcoin network fundamentals have remained unfazed by its spot price failing to show any crucial breakouts. According to data from BTC.com, its mining difficulty has tapped a new high of 32.05 trillion hashes at a block height of 753,984 after an increase of 3.45%. Bitcoin’s New Difficulty Adjustment This is the fourth such increase since...Read More
The crippling impact of May and June’s crash on Bitcoin miners still persists. New data revealed that August recorded the fourth consecutive month that has seen negative miner net flows. Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when...Read More
The Las Vegas-based cryptocurrency miner – Marathon Digital Holdings – steadily improved its bitcoin production levels in August, mining 184 BTC. It also successfully energized 25,000 of its previously installed miners. The process increased the hash rate to nearly 3.2 exahashes per second. Over the next three months, the company expects to activate 65,000 additional...Read More
The first iteration of The Bitcoin Academy – Jack Dorsey and Jay Z’ (Shawn Carters) ‘s Bitcoin education program – has come to a close. After 12 weeks, the initiative ended by airdropping $1000 in Bitcoin to all participants who opted to receive a grant. Jack and Jay Z’s Parting Gift As reported by Business...Read More
The largest corporate bitcoin holder has filed a new filing with the US Securities and Exchange Commission that will essentially allow it to purchase more BTC for up to $500 million. The news comes as the cryptocurrency surged past the $20,000 level and jumped to a new two-week high. The filing with the securities regulator...Read More
With energy sources getting expensive rapidly, the environmental impact of validating PoW crypto-assets is being studied intensely. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper, published on the order of...Read More
The Toronto-based crypto exchange Coinberry has reportedly lost around $3 million in Bitcoin due to a software glitch in 2020. It was during a software upgrade that erroneously enabled users to purchase BTC with Canadian dollars that had yet to be properly transferred to their accounts. That loss of about 120 Bitcoins was not known...Read More
In an attempt to fight the galloping inflation, the European Central Bank, similar to its counterparty overseas, raised the key interest rates by 75 basis points. Unlike the Fed’s interest rate hikes, though, this one has had no real impact on BTC’s price, at least for now. With the skyrocketing inflation across the Old Continent,...Read More
The liquidations on a daily scale are on the rise once again after the recent market stagnation as BTC, and most altcoins turned red. Ethereum erased all of its recent gains, dipping below $1,500 briefly, while BTC saw a multi-week low. Yesterday was a predominantly positive day for the crypto market, especially for the altcoins,...Read More
The small Central American nation made history exactly a year ago when it officialized BTC as a legal tender, becoming the first-ever country to do so. Since then, another one has followed El Salvador’s example, while the Bukele-led country has seen a lot of developments on the bitcoin front, some positive and some negative. How...Read More
The Canadian cryptocurrency miner HIVE Blockchain announced its August production figures, saying it mined 290.4 BTC and 3,010 ETH. The company’s equivalent BTC production was 518.8 BTC with an average hashrate of 3.70 Exahash. HIVE Blockchain also acknowledged the potential of Ethereum’s upcoming “Merge,” vowing to start mining various other GPU mineable coins once this...Read More
The Texas-based cryptocurrency mining firm – Core Scientific – produced 1,334 BTC in August and sold 1,125 BTC of that stash for approximately $25.9 million. In June this year, when the crypto market and bitcoin particularly dipped to record lows in years, Core Scientific parted with over 7,000 BTC for around $167 million. One of...Read More
The attorney general of the District of Columbia (DC), Karl Racine, accused Michael Saylor of failing in his tax obligations while living in DC while also alleging that his company, business intelligence giant MicroStrategy, aided Saylor’s tax avoidance. The MicroStrategy executive is one of the biggest advocates of bitcoin and has remained bullish on the...Read More
Seven Seven Six – a US-based venture capital firm founded by Reddit’s creator Alexis Ohanian – will reportedly raise a $177 million fund to invest in the cryptocurrency market. The company plans to allocate the amount directly into digital assets that are currently trading way below their all-time high levels. Earlier this year, Ohanian raised...Read More
Joshua Lim – Head of Derivatives at Genesis Trading – recently provided a breakdown of Bitcoin’s late underperformance against the rest of crypto. He provided 2 metrics indicating that Bitcoin’s price is “heavy” relative to previous market cycles, followed by qualitative reasons for why this is the case. Ethereum Outperforming Bitcoin Per a Twitter thread...Read More
Eric Wall, a creditor of Mt. Gox, confirmed that new reports swirling that 137,000 BTC sent to creditors would soon be dumped on the market are false. In a recent Twitter thread, Wall said the repayment system is not live yet. While addressing the rumors floating around across social media channels, the former CIO at...Read More
