The Royal Government of Bhutan recently transferred 929 BTC, valued at $66 million, to Binance. This move follows Bitcoin’s price surge above $71,000, marking Bhutan’s first significant transfer since selling $24 million in BTC via Kraken in July. The on-chain analytics platform Arkham reported this sale. Royal Government of #Bhutan
Bitcoin hashing power marketplace NiceHash recently announced the release of the first firmware created exclusively for Kaspa network mining. Up to 20% more ASIC performance may be achieved with its specialized Kaspa software. Kaspa’s low energy usage, strong decentralization, and enormous scalability are all intended to promote fair mining. The
Bitcoin mining may seem like a fast track to profit, but for one miner, it’s been a road full of unexpected twists. In this gripping account, the author shares a 33-month journey that began with high hopes, significant investments, and countless lessons learned. From $100,000 to $1,000,000: A Miner’s Journey
U.S. federal judge Allen has denied Green United’s motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC), accusing the Utah-based company of running an $18 million crypto mining scam. The SEC alleges that Green United misled investors by selling fake cryptocurrency mining equipment and violating federal
The small South Asian nation of Bhutan now ranks as the fourth-largest government in terms of Bitcoin holdings. The country holds a total of 13,011 Bitcoins, valued at approximately $780.49 million. These holdings were revealed through Arkham’s platform, which publicly identified the addresses for the first time. Unlike most governments,
The mining wallets of the largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) have been through a consistent decline in the asset holdings since the mid-2024. However, a slight recovery in prices indicates that miners might increase their collective assets. According to the analytics firm Santiment, this drop in supply is
Russian authorities have confiscated 238 mining rigs from a community that is said to be entirely focused on gardening. The Irkutsk region in Southeastern Siberia has become the unofficial capital of the Russian Bitcoin mining sector, where illegal crypto mining continues. This is due to its famously low energy rates,
On August 15, 2024, the International Monetary Fund (IMF) recommended a major increase in electricity taxes for cryptocurrency miners and AI data centers to address their carbon footprint. The IMF’s proposal suggests raising the electricity cost for crypto miners by 85%. They propose a tax of $0.047 per kilowatt-hour, potentially
Bitcoin (BTC) miners are showing an optimistic approach by expanding their operations, even with Bitcoin’s price volatility. This uptick in mining activity comes after a significant miner capitulation event, which signals a potential price bottom. Bitcoin mining solves complex puzzles, validates transactions, and secures the network, with new blocks added
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%.
