In the face of mounting difficulties, one Arkansas energy company is offering a discounted rate to cryptocurrency miners. Even though the state of Texas already has among of the lowest energy rates in the United States, the Fortune 500 business Entergy, which specializes in delivering electric power to clients in
Koinly, a crypto tax firm located in the United Kingdom, has announced the layoff of 14% of its worldwide staff to tackle the tough circumstances affecting the cryptocurrency sector and economy at large. There will be a total of 16 layoffs, with CEO Robin Singh citing the worsening bear market
Several measures governing cryptocurrency mining in Kazakhstan have been enacted by the Kazakh legislature, including the “On Digital Assets of the Republic of Kazakhstan” bill. There will be new tax laws for cryptocurrencies, advertising for cryptocurrency transactions will be prohibited, and miners will be required to buy only power that
The memo, headlined “The financial-market surprises of 2023,” was released by Standard Chartered Bank on Sunday. Eric Robertsen, Standard Chartered’s global director of research, said that some of the possibilities outlined in the report are “under-priced by the markets.” The price of bitcoin may fall below $5,000 in the next
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
Michael Burry, the founder of the investing company Scion Asset Management, has predicted the coming of a “real recession” that would persist for many years. Burry is well-known for predicting the 2007–2010 U.S. subprime mortgage crisis and making money off of it. The movie “The Big Short,” starring Christian Bale,
Despite the volatile price of Bitcoin, a recent analysis by Kommersant shows that purchases of Bitcoin mining devices in the nation skyrocketed in the fourth quarter. Low costs for gear and power have also contributed to the dramatic growth. Sales at Chilkoot, one of Russia’s authorized dealers of cryptocurrency mining
The government of El Salvador has upped the ante on its crypto endeavors by establishing a National Bitcoin Office (ONBTC) to monitor and direct all national Bitcoin-related activities. The new organization will be able to collaborate with counterparts in other nations on BTC-related topics. While the cryptocurrency market has been
Due to weak market performance and a larger computational demand amid increased network difficulty, Bitcoin miners’ income has dropped to two-year lows. However, miners have been able to recover losses thanks to a continuing decline in the Bitcoin hash rate over the last month. Bitcoin mining profits (from both block
Bitwise, a leading cryptocurrency asset management firm, has resubmitted its ETF proposal to include Bitcoin futures (ETF). The proposed fund would use a Cayman Islands-based wholly-owned subsidiary to invest only in Bitcoin futures contracts. Due to the high price tag and high complexity of the planned solution, Bitwise withdrew its
