Mining - The Urban Mine

Bitcoin mining difficulty rises 3.4%, reaching new ATH

By - admin
Posted on October 24, 2022

Bitcoin (BTC) network’s mining difficulty recorded a new all-time-high (ATH) on Oct. 23 as the difficulty increased by 3.4% to reach 36.84 trillion. At the same time, the Difficulty Ribbon has started to compress, which historically indicates good buying opportunities. Mining difficulty The chart below demonstrates mining difficulty with the orange line. The final 3.4%

Bitcoin mining remained unprofitable throughout Q3

By - admin
Posted on October 20, 2022

Bitcoin (BTC) miners had a rough third quarter, with the cost of mining increasing, although BTC’s price continued to fall, according to the Hashrate Index report. According to the report, the rate at which public miners sold mined BTC dropped for the first time since May. Hashprice decrease The best sign of how unprofitable the

Bitcoin mining could help slow climate change

By - admin
Posted on October 19, 2022

The dominant media narrative surrounding Bitcoin has been one of an energy-guzzling digital asset used for speculation. Institutions ranging from local governments to the World Economic Forum (WEF) have been touting Bitcoin’s energy usage as a huge driving factor of climate change, issuing reports comparing its energy consumption to various nation-states. This narrative was further

Bitcoin Association pursuing criminal charges against miner mining empty blocks

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Posted on October 17, 2022

Bitcoin Association, a non-profit responsible for the Bitcoin SV (BSV) blockchain, has revealed intentions to freeze block rewards and sue a malicious miner for breach of contract, according to an Oct 16 press statement. According to the Association, the said miner has been acting maliciously on the BSV chain since June, when he started producing

Elizabeth Warren-led US lawmakers demand probe of ERCOT’s support for Bitcoin miners in Texas

By - admin
Posted on October 13, 2022

A group of U.S. lawmakers led by Senator Elizabeth Warren has asked the Electricity Reliability Council of Texas (ERCOT) to provide operational and financial information about Bitcoin miners in Texas. Texas is home to about 30 crypto-mining companies consuming about 9% of the global mining power. By the end of 2023, the emission rate is

Bitcoin mining difficulty adjusts over 13%, the highest since May 2021

By - admin
Posted on October 10, 2022

The Bitcoin network has reached its all-time high in terms of hash rate, surpassing most projections. The network’s total hash rate currently stands at 240 EH/s and is expected to increase even further. The current hash rate represents a 3x increase from the network’s lows in July 2021 when a government ban triggered a miner

Bitcoin miners capitulation passes, but spiking hash rate keeps pressure on

By - admin
Posted on October 6, 2022

On October 3, the Bitcoin hash rate soared to a new all-time high of 244.25 EH/s. Commenting on this, Binance CEO Changpeng Zhao said, “miners know something we don’t.” Two days later, the hash rate surged yet again, smashing the previous record to print a new all-time high of 314.58 EH/s, further signaling miner confidence

Marathon Digital invested over $30 million in bankrupt Compute North

By - admin
Posted on October 6, 2022

Bitcoin (BTC) miner Marathon Digital has disclosed it invested $10 million in convertible preferred stock and $21.3 million in unsecured senior promissory notes in bankrupt crypto firm Compute North, according to an Oct. 6 press statement. The press release further stated that the BTC miner paid $50 million to Compute North as operating deposits. The

Bitcoin mining pool Poolin in distress following liquidity crisis

By - admin
Posted on October 5, 2022

The Bitcoin mining pool Poolin on Sept. 6 announced liquidity problems and subsequently suspended withdrawals, flash trades, and internal transfers from its network. Mining pools collate processing power from contributing miners to generate block rewards more quickly and consistently versus “going alone.” The rewards are distributed in proportion to the members’ contribution (or donated processing

Riot Blockchain produced over $7.1M worth of BTC in September

By - admin
Posted on October 4, 2022

Riot Blockchain, a Bitcoin mining company based in Texas, produced 355 BTC in September this year. The news is part of Riot’s unaudited production and operations updates for last month, in which the company disclosed its BTC holdings, sales, and profits. According to the announcement, Riot’s 355 BTC production represents a 13% decrease as compared

Category: Mining