Category: Bitcoin Mining

Uzbekistan warms up to Bitcoin mining, but there’s a catch

June 28, 2022

Crypto Nanobot 0

The executive order spares all the mined assets from taxation and bans mining anonymous currencies. 545 Total views 8 Total shares The National Agency of Prospective Projects (NAPP) in Uzbekistan announced its demands toward crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies.  The […]

Continue Reading

Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K

June 28, 2022

Crypto Nanobot 0

The key to survival for Bitcoin miners boils down to the delicate balance between the revenue and the operating cash flow. 1304 Total views 20 Total shares Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if […]

Continue Reading

Compass Mining loses facility after allegedly failing to pay power bill

June 28, 2022

Crypto Nanobot 0

Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills. Late on Sunday, Dynamics tweeted a letter on Twitter it sent to Compass Mining which stated as of […]

Continue Reading

Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop

June 25, 2022

Crypto Nanobot 0

The Bitcoin network recorded the year 2022’s lowest power demand of 10.65 gigawatts (GW). At its peak, the BTC network demanded 16.09 GW of power. 2562 Total views 34 Total shares The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which […]

Continue Reading

Bitcoin miners sold their entire May harvest: report

June 22, 2022

Crypto Nanobot 0

Bitcoin miners are finding it extremely hard to continue their operation as the cost of production has exceeded the profit. 858 Total views 28 Total shares The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low. The deteriorating […]

Continue Reading

Marathon Digital keeps on mining despite BTC price slump

June 20, 2022

Crypto Nanobot 0

Earlier this month, Marathon said it has been accumulating or “hodling” its Bitcoin since October 2020. As of June 1, 2022, the firm held approximately 9,941 BTC. 2588 Total views 39 Total shares Despite data showing that the Bitcoin (BTC) price may have fallen to the point of being unprofitable for the average miner, Marathon […]

Continue Reading

From games to piggy banks: Educating the Bitcoin ‘minors’ of the future

June 19, 2022

Crypto Nanobot 0

The crypto winter is here. It’s a trying time as prices grind down, but it’s the best moment to build and learn. For some Bitcoiners, the bear market is a time to plant trees or create memes. For those with kids, it’s a welcome recess used to broaden the minds’ of Bitcoin (BTC) minors.  Cointelegraph spoke […]

Continue Reading

Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K

June 15, 2022

Crypto Nanobot 0

Bitcoin mining profitability has dropped by over 75% from the market top and is currently at its lowest since October 2020. 919 Total views 20 Total shares Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since […]

Continue Reading

Here’s how blockchains are helping to advance the global energy grid

June 10, 2022

Crypto Nanobot 0

The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some […]

Continue Reading

New York State Senate passes Bitcoin mining moratorium

June 3, 2022

Crypto Nanobot 0

The bill once, approved by Governor Kathy Hochul, would make New York the first state in the U.S to put a moratorium on crypto mining. 153 Total views 2 Total shares The New York State Senate approved a controversial proof-of-work (PoW) mining ban bill that would prohibit any new Bitcoin (BTC) mining operations in the […]

Continue Reading