Jack Dorsey’s payment venture, Block, formerly Square, is making strides in its commitment to Bitcoin mining and its self-custody wallet, Bitkey. In its Q3 2024 shareholder letter, the firm mentioned the demand for its mining initiative, described as having a “strong product market fit.” This announcement was followed by Trump
Bitcoin (BTC) mining profitability took a hit in September 2024, as rising network difficulty and a steady Bitcoin price put pressure on miners. U.S. investment bank Jefferies highlighted that the network’s hashrate saw a 1.7% increase, making it tougher for miners to generate rewards despite Bitcoin’s value remaining mostly unchanged.
Japan’s Tokyo Electric Power Company (TEPCO) is exploring green energy management through its subsidiary, Agile Energy X. By utilizing surplus renewable energy for Bitcoin mining, the company aims to tackle energy waste and generate significant revenue. According to a report by local media Asahi Shimbun, Agile Energy X revealed that
While the Bitcoin miners are facing difficulties in maintaining profitability following the April 19 halving, a solo miner has successfully processed Bitcoin block 858,978 and netted nearly $200,000. The block, processed at 4:21 PM UTC on August 29, included 2,391 transactions and yielded a reward of 3.27 BTC, valued at
The Governor of the USA state, Oklahoma signed a crypto bill that exempts Bitcoin miners from electricity sales tax. This bill is the state’s step toward advancing self-governance in the cryptocurrency sector. Notably, the signing has made Oklahoma the first state in the nation to advance in crypto and bitcoin
Jack Dorsey-backed Bitcoin mining pool Ocean has launched a “global hub” in El Salvador via its new entity. According to the X post, the new venture, Ocean Mining S.A. de C.V., headquartered in San Salvador, aims to leverage the favorable regulatory environment in El Salvador to expand its operations and
Bitcoin (BTC) price is experiencing pressure to maintain the key support level at $65,390. It is crucial for the price to remain above this support level to sustain the bullish trend, which targets the $70,000 level. It is essential to maintain this support level for the continuation of the upward
El Salvador continues to solidify its position as a leading Bitcoin-centric nation, showcasing impressive strides in both Bitcoin mining and green energy initiatives. Recent reports indicate that the country has significantly bolstered its Bitcoin reserves, with the latest figures revealing a substantial increase. According to records, El Salvador has mined
Riot Platforms, a vertically integrated Bitcoin mining and data center hosting firm, reported record revenue of $280.7 million for the year ended December 31, 2023, according to its annual report. Riot Platforms saw an 8% increase in its total revenue from $259.2 million in 2022 to $280.7 million in 2023.
The exciting conceptual event where the reward for the transactions of Bitcoin (BTC) mining is getting half the cut is termed ‘Bitcoin Halving’. The basic cut-off for the current year 2023, is yet 6.25 BTC which then completes by the next year. This halving cycle is where the current holding
