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MicroStrategy the largest Bitcoin-holding public company saw its unrealized gains on its BTC investment reach near the $1B mark as the company’s stocks gained nearly 9% on the day. The Bitcoin (BTC) price surge on Monday has now catapulted Bitcoin-related stocks to surge to new highs with the likes of Coinbase and Microstrategy posting new multi-week highs. Bitcoin mining stocks saw significant gains amid the BTC price momentum with the likes of United States-listed Riot Blockchain recording an 11.69% surge followed by Marathon Digital Holdings at a 14.6% increase. Another factor that played a key role in the mining stocks surge is the upcoming halving event that will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC per block. Marathon Digital stock price chart. Source: TradingView Bitcoin mining stocks not only outperformed Bitcoin in terms of daily price rally but also in terms of year-to-date gains. Cipher Mining Inc. has seen an increase of 356% YTD compared to Bitcoin’s ...

According to Hut 8 CEO Jaime Leverton, the new merged mining business will have “highly diversified fiat revenue streams.” The Canadian Bitcoin (BTC) mining company Hut 8 continues to accumulate self -mined BTC amid the ongoing merger deal with the industrial cryptocurrency miner, US Bitcoin (USBTC). Hut 8 mined 111 Bitcoin in September 2023, bringing its self-mined BTC reserves to 9,366 Bitcoin, the firm announced on Oct. 10. The amount of Bitcoin mined by Hut 8 in September is up around 8% from the previous month, but is still significantly lower than in May 2023, when Hut mined 147 BTC. The Bitcoin miner has seen its mining pace dropping significantly over the past year, as its monthly mining volumes dropped nearly 60% from 277 BTC mined in September 2022. But despite seeing a notable decline in the amount of monthly -mined Bitcoin, Hut 8 has remained committed to its hodl strategy, which has not been seen among too many miners in the industry. “No Bitcoin was sold during the...

El Salvador’s ambitious renewable energy Bitcoin mining operation welcomes its first mining pool as Volcano Energy partners with Luxor. El Salvador officially launched its first local Bitcoin (BTC) mining pool as the Volcano Energy project begins mining blocks through Lava Pool in partners hip with Luxor Technology. The Bitcoin-friendly country’s $1 billion renewable energy project made headlines earlier in 2023, with stablecoin issuer Tether among companies investing in the project that plans to generate electricity from renewable sources in El Salvador to power future Bitcoin mining operations in the country. Volcano Energy is tapping into Luxor’s experience in providing Bitcoin mining software and services. The project will also use Luxor’s Hashrate Forward Marketplace to mitigate market volatility through automated risk management strategies used by other major Bitcoin mining operators. Bitcoin has the potential to pay off its climate debt much sooner than solar energy, and, t...

Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations. Bitcoin mining firm Marathon Digital has confirmed it mined an invalid  Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations. In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiment s and stressed they weren’t trying to alter the network in any way: “In no way was this experiment an attempt to alter Bitcoin Core in any way.” Marathon said, emphasizing that they corrected the error as soon as they noticed the invalid block. We can confirm that Marathon did mine an invalid block . We utilize a small portion of our hash rate to experiment with our development pool and research potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our… — Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) September 27, 2023 Marathon said the...

Bitcoin mining is becoming harder — which means miners will have to spend more to receive fewer rewards. But there are still ways to be profitable. Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%. Bitcoin's halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin's price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners must adapt their strategies to compensate for the reduced rewards resulting from the halving. Let’s explore the strategies and alternative income sources that may help Bitcoin miners amid hostile market conditions. Changing mindsets Bitcoin mining involves a competitive process where miners vie for ...

Canaan vice president Davis Hui believes a supply deficit following the next Bitcoin halving will drive its price past $100,000. Executives from prominent mining and manufacturing firms believe market forces resulting from the fourth Bitcoin halving scheduled in 2024 could force the price of Bitcoin (BTC) past $100,000. Magazine editor Andrew Fenton spoke to Canaan vice president Davis Hui following a panel discussion at Canaan’s Avalon Bitcoin and Crypto Day (ABCD) in Singapore. Hui and a panel that included Bitcoin mining ecosystem executives from Singapore, Kazakhstan and the United Arab Emirates all offered BTC price predictions around $100,000 in 2024 resulting from the effects of the latest Bitcoin mining reward halving . Related: Bitcoin all-time high in 2025? BTC price idea reveals ‘bull run launch’ Hui told Cointelegraph that the supply of Bitcoin would be drastically reduced with the reward halving down to 6.25 BTC per block, while traditional finance institutions are sh...

This week’s episode of Market Talks discusses the future of BTC mining and how miners can maximize profits, as well as the upcoming Bitcoin halving and its impact on the mining industry. On the latest episode of Cointelegraph’s Market Talks , host Ray Salmond spoke with Dan Rosen, associate director of derivatives at Luxor, a United States-based Bitcoin (BTC) mining pool, research hub and service provider. The show touched on a number of broad topics, including Rosen’s view on how the upcoming Bitcoin halving will impact BTC price, why Bitcoin’s volatility is set to remain in the double-digits for years to come, and miners’ ability to hedge their operations via hash rate derivatives. According to Rosen: “Any maturing asset goes through experiences of high volatility when it first launches, and if you compare Bitcoin to the tech stocks of the early 90s, like Apple and Google, their volatility was astronomical. Bitcoin has also touched crazy high levels of volatility in the 70% to 100...

This week’s Crypto Biz looks at Binance’s ongoing efforts to curb declining profits, Ripple’s expectation that U.S. banks may soon adopt XRP and the first signs of venture capital returning to crypto. The crackdown on crypto firms by the United States Securities and Exchange Commission (SEC) appears to have severely affected Binance’s business. During the past few weeks, the crypto exchange reportedly fired over 1,000 employees and slashed some benefits.  According to Binance, the “current market environment and regulatory climate” have caused a decline in profits, suggesting more cuts may be in the works. A spokesperson told Cointelegraph the firm would consider scaling back on “certain products, business units, staff benefits and policies” in response to business and regulatory concerns. Binance has yet to face the courts and the 13 charges brought against it by the SEC, as well as the outcome of an investigation by the U.S. Justice Department targeting its activities and executives...

Marathon Digital also noted that the decrease in transaction fees for June was not a cause for concern, highlighting that Bitcoin Ordinals had provided a boost in the previous month. Bitcoin mining company Marathon Digital has linked the recent slump in its total amount of Bitcoin's (BTC) mined in June to the weather conditions in Texas and a drop in transaction fees. According to a July 5 statement, Marathon Digital experienced a “21%" decline in June for the total amount of Bitcoin mined compared to the previous month of May.  The primary reason cited for the decline of production in June – which saw 979 Bitcoin produced throughout the month – was the impact of the weather conditions in Texas, where Marathon's main operations are located.  It's worth noting that June marks the transition from spring to summer in Texas. “The decreased production relative to last month was due to weather-related curtailment in Texas and a significant decrease in transaction fees.” ...

Bitcoin miners have been selling BTC since the start of June, potentially adding further pressure to the BTC price. Bitcoin’s on -chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high.  According to on -chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to exchanges.” Glassnode data shows Bitcoin (BTC) miners’ inflows to exchanges spiked to a three-year high on June 3 to levels last seen during the bull market of early 2021. Across the past week, #Bitcoin Miners have been sending a significant amount of coins to Exchanges, with the largest inflow equal to $70.8M. This is the 3rd largest inflow on record, -$30.2M less than the peak inflow of $101M recorded during the primary bull market of 2021. pic.twitter.com/w4fNFMcxr4 — glassnode (@glassnode...

The act of mining a valid BTC block solo is so rare that the event has occurred only 270 times out of the 700,000 blocks produced in the last 13 years. A solo Bitcoin miner has managed to solve/mine the 780,112th block in the Bitcoin Blockchain and received a 6.5 Bitcoin (BTC) block reward in return. The estimated value of the payout is over $150,000. The solo miner was also lucky to have produced a valid hash just after two days of the mining, as the event itself is rare and can take months for a solo miner to produce a valid hash. The rare event occurred on March 10 and was only the 270th solo mined block in Bitcoin’s 13-year-long history. The event's rarity could be understood from the fact that a solo miner of this size will usually solve a block on average about once every 10 months. Congratulations to miner39nDQ9BexEBXpRdkHY1z95CaMDEwh6muPW who solved the 270th solo block at https://t.co/UWgBvLkDqc with 6.7PH but doesn't appear to have been mining for very long ...

Bitcoin price action is on a knife edge as analysis hopes that the monthly close can echo a positive end to the week. Bitcoin (BTC) keeps pushing for a bullish end to February as the monthly close starts another week’s price action. The largest cryptocurrency looks set to preserve its gains as it closes the second month of 2023 — and is keeping bulls’ hopes alive in the process. Can the good times continue? The coming week could mean decision time for a key area of BTC price action around $25,000. Analysts are eyeing a breakout toward $30,000 if support can become more permanent, while concerns nonetheless remain that a trip back towards resistance reclaimed in January is still on the cards. Amid a quiet week for macroeconomic data, any catalysts for determining whether BTC/USD goes up or down may come from within Bitcoin itself. One thing is for sure, on-chain data shows — long-term Bitcoin hodlers are in no mood for selling yet, and at current prices continue to add to their BTC exp...

Bitcoin miners appeared to be the model consumers for the ancillary services in the state. During the winter storm in Texas in December 2022, Bitcoin (BTC) mining operators returned up to 1,500 megawatts of energy to the distressed local grid. It became possible due to the flexibility of mining operations and the ancillary services, provided by the state authorities.  In his commentary to Satoshi Action Fund, Texas Blockchain Council president Lee Bratcher stated that miners returned up to 1,500 megawatts to the Texas grid. This amount of Energy would be enough to heat “over 1.5 million small homes or keep 300 large hospitals fully operational,” according to the calculations from the Bitcoin advocacy group. While there’s no specification regarding the exact time period in which miners have accumulated such an amount of power, the global Bitcoin mining hashrate dropped by 30% on Dec. 24-25, 2022. Miners appeared to be the model participants of ancillary services in the state, which...