Category: Mining

St. Kitts and Nevis to adopt Bitcoin Cash as legal tender in 2023

St. Kitts and Nevis Prime Minister Terrance Drew announced that BCH will become legal tender in the country by March 2023 during a BCH conference in St. Kitts and Nevis. He added that the country will also look into mining BCH and welcomes dialogue and exploration of “future opportunities” with the cryptocurrency. The Prime Minister

Crypto market sees biggest miner selling pressure since January 2021

The ongoing market slump caused by the FTX fallout hasn’t left Bitcoin miners unscathed. The market has seen the biggest one-day miner selling pressure since January 2021, and data analyzed by CryptoSlate shows that the selling pressure shows no signs of stopping. We could see extended selling pressure from miners until the average hash price

Marathon Digital’s BTC production slumps 51% in Q3; Revenue takes further hit from falling BTC price

Bitcoin (BTC) mining company Marathon Digital Holdings’ (NASDAQ:MARA) earnings report for Q3 2022 shows that the company’s production fell 51% to 616 Bitcoins from 1,252 Bitcoins in Q3 2021. The company also recorded $12.7 million in revenue, as opposed to the $51.7 million in the prior-year quarter. Marathon said the decline mainly resulted from lower

Bitcoin mining difficulty barely adjusts downward by 0.19% as miner pressure continues

Bitcoin’s (BTC) mining difficulty has plateaued since the beginning of November and saw a 0.19 percent drop on Nov. 7 following its latest adjustment, according to CryptoSlate’s analysis of Glassnode data. Bitcoin mining difficulty (Source: Glassnode) The chart above shows that mining difficulty has jumped significantly starting August all the way through November. The difficulty

Could Bitcoin miner sell pressure indicate further upside potential?

Bitcoin miners have been selling BTC holdings at a rate not seen since early 2021. Further, the persistence of the negative net position change has not occurred since 2017. Miners consistently sold Bitcoin for the past three months at an aggressive rate likely to cover liabilities such as energy bills and loans. Source: Glassnode Since

Research: A fresh take on Bitcoin mining

Bitcoin mining and its energy consumption have recently been the subject of many heated debates. As governments and institutions around the world keep introducing new measures to combat pollution and climate change, Bitcoin’s energy-guzzling network sticks out like a sore thumb. Various data aggregators and trackers work around the clock to provide the market with

Lebanon Locals are turning to Bitcoin, Tether amidst an economic crisis

The unsustainable financial system in Lebanon has brought some Lebanese to crypto. Locals are mining Bitcoin or storing wealth with cryptocurrency and completing some payments with Tether.  Dire Economic Situation in Lebanon In 2019, Lebanon fell into a financial crisis after years of expensive wars and poor spending decisions. A CNBC ground report outlined the