Bitcoin News Official TheBitTimes.com

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...

According to blockchain analytics firm CryptoQuant, OKX has the largest clean asset reserves of all the major exchanges. Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.” OKX claims to maintain 1:1 reserves, which would mean means the company’s on-chain assets 100% match the customer‘s balances. The report shows current reserve ratios of 105% for BTC, 105% for ETH and 101% for USDT. The term “clean” is used in proof s of reserve s to describe crypto asset s that do not include an exchange's platform tokens and are purely made up of high-market-capitalization crypto asset s, such as BTC, ETH and USDT. CryptoQuant monitors PoRs across the industry. A clean reserve is defined by the firm as: “A clean reserve is the total reserve of each exchange...