Mining

Bitcoin mining is not boiling the ocean, said Michael Saylor during the Aug. 7 interview on “Bloomberg Open Interest.” However, the asset sure is boiling the MicroStrategy founder’s blood for a future-proof finance platform. Bloomberg Television’s Sonali Basak asked the insatiable Bitcoin custodian, “Beyond MicroStrategy, how do you hold Bitcoin personally? Do you have a significant personal stack in addition to what you own through MicroStrategy and through MicroStrategy...

After 11 years of dormancy, a Bitcoin wallet belonging to a miner, dating back to the Satoshi era in 2010, has come back to life. This entity suddenly became active on August 7 and transferred 250 BTC, worth approximately $13.95 million, to five new wallets. Historic Bitcoin Wallet From 2010 Awaken According to the latest update by popular on-chain tracker Lookonchain, the wallet originally earned 250 BTC through mining in May 2010 when Bitcoin was hovering below the $1 mark....

This Year’s Theme: “On the Move” Throughout history, people have left their homes for a variety of reasons and have found themselves in faraway places. This has led to encounters with foreign lands, their inhabitants, their customs, their flora and fauna. Cultural heritage collections are full of artifacts resulting from and bearing witness to those people “on the move”: archival records, travel reports, audiovisual documents, object collections, oral histories etc. These...

Bitcoin miner Riot Platforms revealed a net financial loss of $84.4 million during Q2 2024, registering its first quarterly loss since Q4 2022. The loss witnessed this quarter comes due to April’s Bitcoin halving event, cutting down mining rewards in half, and the Bitcoin network’s increased hash rate. Miners industry-wide had a hard time since the halving, registering losses and missing estimates. Riot increased selling the bitcoin it received as rewards for mining to cover rising expenses,...

Bitcoin (BTC) could be seeing less selling pressure from miners in the near term due to an increase in the profitability of this cohort of market participants and the recovery of their hashrate following the cryptocurrency’s rally to the $69,000 range. According to a CryptoQuant report, the Bitcoin network hashrate recovered while BTC had its latest rally. The metric’s drawdown from its all-time high is now 3%, compared to 8% on July 9. Bitcoin Network Hashrate Recovers On...

Marathon Digital (MARA) saw its shares drop over 8% in after-hours trading on Thursday following a second-quarter revenue report that fell short of Wall Street’s forecasts. However, the stock has since recovered some of these losses. Marathon Digital Sees a Revenue Miss Marathon Digital reported second-quarter revenue of $145.1 million, falling short of Wall Street’s forecast of $157.9 million, approximately 9% lower. The company attributed the revenue miss to operational...

Marathon Digital (MARA) observed declining stock price as it did not meet Wall Street’s profit expectations. The price fell as much as 8% on Thursday with the announcement of its second-quarter revenues. It reported $145.1 million, falling short of the $157.9 million estimate. Marathon faced numerous obstacles, including operational ones that hampered its ability to mine at its usual capacity and the reduced mining rewards caused by April’s halving event. In a statement, Marathon CEO Fred...

Bitcoin miner Marathon Digital (MARA) has acquired $100 million of bitcoin (BTC) from the open market while stating it plans on going back to holding the BTC it makes from its mining efforts. It began offloading the BTC from its reserve to cover operational expenses as the asset’s price dropped last year. In a statement, MARA relayed that “it has purchased $100 million of bitcoin and currently holds over 20,000 BTC on its balance sheet. Furthermore, effective immediately, MARA will adopt a...

Savvy and novice crypto investors have searched for potentially profitable tokens before the next rally. While BlockDAG (BDAG) and DTX Exchange (DTX) had initially made airwaves in the crypto market, they are quickly losing investors to RCO Finance (RCOF), an upcoming DeFi token.  Why are BlockDAG (BDAG) and DTX Exchange (DTX) investors flocking to RCO Finance? Continue reading to find out! BlockDAG (BDAG) Presale Slows Down As Investors Seek Alternatives BlockDAG is a budding Layer...

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