Bitcoin mining firm TeraWulf’s Q2 2024 financial report disclosed a 21.4% drop in Bitcoin production, totaling 699 BTC compared to the previous year’s second quarter. Amidst the drop, TeraWulf generated $35.6 million in revenue, more than double its earnings of $15.5 million from the previous year. Moreover, the firm’s gross
The crypto sector has shown positive momentum since the beginning of this week. In the last 24 hours, the market recorded a 1.80% increase in market cap while the daily trading volume surged by 40.31%. The largest cryptocurrency, Bitcoin surpassed resistance at the $56K level and has inched closer to
The announcement of a $1.6 billion investment in Bitcoin City in El Salvador has sparked renewed interest in cryptocurrency. Yilport Holdings, a Turkish firm, would put $1.6 billion into the Acajutla and La Union ports—the latter of which will house the Bitcoin City. Crypto enthusiasts have dubbed the port construction
In 2024, Bitcoin miners have encountered significant financial challenges, with daily revenue dropping to an unprecedented low of $2.5 million. This decline marks the lowest point in the year and reflects the increased difficulty of mining operations. According to the information on Blockchain.com, the mining revenue has dropped to -0.06%.
Digital asset investment products experienced a notable rebound last week, with inflows totaling $176 million as investors capitalized on recent price weaknesses, reported coinshares. This surge in investment follows a period where total Assets under Management (AuM) dipped to $75 billion, a decline of over $20 billion during a market
MicroStrategy, an American business intelligence firm founded in 1989, took a bold leap by adopting Bitcoin as its primary treasury reserve asset. Michael Saylor, former CEO, and one of the co-founders of MicroStrategy, initiated this decision due to the company’s sluggish stock performance over the past years. However, MicroStrategy’s BTC
The crypto market has suffered a notable price drop over the last 24 hours. Overall global crypto market cap has dropped by 4.07% to $2.05 trillion over the last day. Leading cryptocurrencies have fallen to considerable support levels, like in July. Bitcoin (BTC) and Ethereum (ETH) have fallen over 4%
As Bitcoin (BTC) faces a notable dip, the Solana-based memecoin Dogwifhat (WIF) has recorded significant volatility with a double-digit loss. In the last 24 hours, WIF displayed a sharp decline of over 13.3%, reflecting the broader impact of Bitcoin’s downturn on the memecoin market. The memecoin, which fell to $1.09
Aug. 5 was one of the worst days for cryptocurrency in recent memory. Traders’ dependence on leverage has been subtly increasing market-wide dangers for months, and few anticipated this. Leveraged trading may have been the spark, but the sudden surge of the Japanese yen was the fuel. Hopefully, the effect
On Wednesday, August 14, the US Labor Department is slated to announce the Consumer Price Index (CPI) for July, which is anticipated to show a significant increase in inflation. Because of this, many are wondering whether the US Federal Reserve will be able to implement its plans to decrease interest
