Bitcoin hashrate hits all-time high, boosting network security

October 21, 2024 Coin Telegraph

Bitcoin

The increasing Bitcoin hashrate and block reward reduction from the Bitcoin halving may lead to miner consolidation among smaller firms.

The Bitcoin hashrate has reached a new all-time high, showcasing the growing security of the world’s first blockchain network.

The Bitcoin network hashrate — the total computing power securing the Bitcoin network — reached an all-time high of 769.8 exahashes per second (EH/s) on Oct. 21.

The hashrate has been in a steady uptrend since 2021, BitInfoCharts data shows. The hashrate’s escalation is widely correlated with developments in mining hardware like application-specific integrated circuits (ASICs).

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

3 signs Bitcoin’s ‘parabolic phase’ with a $250K target is about to begin

October 20, 2024 Coin Telegraph

<div>3 signs Bitcoin’s 'parabolic phase' with a 0K target is about to begin</div>

Bitcoin Halving

Bitcoin whale accumulation, chart technicals, and a declining stablecoin dominance hint at a BTC price bull run ahead.

Bitcoin’s (BTC) price has climbed 55% so far in 2024, including 12.50% gains in October. Its recent increases have been fueled by an overall improving risk-on sentiment led by better-than-expected Wall Street earnings.

BTC/USD daily price chart. Source: TradingView

Additionally, investors are increasingly pricing in potential Federal Reserve rate cuts in November, with pro-crypto Donald Trump’s rising odds of winning the 2024 presidential election furthering the optimism.

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Peter Brandt Warns of Potential 75% Bitcoin Decline if All-Time High Stays Out of Reach

October 12, 2024 Bitcoin.com

Bitcoin

Peter Brandt, a well-known trader and chartist, has warned bitcoin investors about troubling market patterns. He highlighted that BTC has gone 30 weeks without a new all-time high, historically leading to severe declines of up to 75%. While Brandt remains optimistic, forecasting a bitcoin price of $135,000 by late 2025, he cautions that a close […]

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Bitcoin set for 3-month historic rally as analysts eye $92K BTC

September 15, 2024 Coin Telegraph

Bitcoin set for 3-month historic rally as analysts eye K BTC

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According to market analysts, this could be the last dip buying opportunity for Bitcoin before the next leg up.

After several months of downward movement, Bitcoin may be poised for a three-month rally, with some analysts predicting a breakout above $92,000.

Bitcoin’s price could be on the brink of a three-month rally based on historical post-halving chart patterns.

Bitcoin (BTC) recently retested a key support level on the weekly chart, which could set it up for a rally above $90,000, according to popular analyst Titan of Crypto.

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Top 10 L1 Chains, Hamster Kombat Token Airdrop Performance, and More — Week in Review

September 8, 2024 Bitcoin.com

Bitcoin Halving

Data highlighted the dominance of the top 10 layer one blockchains, collectively valued at $1.66 trillion. In Russia, financial analyst Vladislav Antonov projected growth for the Hamster Kombat token post-airdrop. Meanwhile, China and Russia’s payment flows are under strain due to new sanctions targeting Chinese firms aiding Russia’s war effort. India’s HDFC Bank introduced enhanced […]

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Binance-backed Bitcoin DeFi protocol Zest launches yield-bearing BTCz token

September 5, 2024 Coin Telegraph

Binance

The Bitcoin halving has catalyzed a wave of interest in creating DeFi capabilities for Bitcoin, the world’s first blockchain network.

Binance Labs and Tim Draper-backed Zest Protocol have launched their new BTCz token in the latest development for Bitcoin-native decentralized finance (DeFi).

The new BTCz token will allow Bitcoin (BTC) holders to earn a staking yield on their Bitcoin through the Babylon Protocol.

The new Zest Protocol Bitcoin (BTCz) token could bring a significant increase in capital efficiency for the world’s first cryptocurrency, according to Tycho Onnasch, co-founder of the Zest Protocol.

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Bitcoin Miners Face Leanest Month of 2024: August Earnings Hit Year’s Low

September 1, 2024 Bitcoin.com

Antpool

Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August also dipped, reaching a low not seen since last year, with a $4.14 million drop compared to July. August Bitcoin Mining Revenue Drops $99.75M Lower Than July The ongoing effects […]

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

Bitcoin mining CEO eyes hashrate contracts to offset rising costs

August 29, 2024 Coin Telegraph

Bitcoin Halving

The slashing of the Bitcoin block subsidy from 6.25 Bitcoin to 3.125 during the April 2024 halving has placed financial pressure on miners.

As Bitcoin miners continue to capitulate due to high costs and decreased block rewards, Andy Fajar Handika, CEO and co-founder of Loka Mining — a decentralized mining pool operator — says he’s found a way to sell future hashrate to finance short-term needs and growth.

In an interview with Cointelegraph, the Loka Mining CEO introduced the idea of forward hashrate contracts — allowing miners to sell their future hashrate for fiat-denominated loans from creditors — which could help to keep the capital-intensive business viable.

These proposed hashrate forward contracts allow smaller mining operations to finance growth and pay for operations today while using the Bitcoin hashrate of tomorrow, he explained.

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

TeraWulf Bitcoin production falls 21% in Q2, looks to AI expansion

August 13, 2024 Coin Telegraph

Bitcoin Halving

Bitcoin miner TeraWulf mined 699 Bitcoin in Q2 — a 21% year-over-year decline — but still beat analyst expectations with $35.6 million in quarterly revenue.

Bitcoin miner TeraWulf beat revenue and missed earnings expectations as it posted a 21% decline in the amount of Bitcoin it mined in the second quarter of 2024.

In an Aug. 2 second-quarter earnings report, the firm said it mined 699 Bitcoin (BTC) in the second quarter, a 21% decline year over year.

The firm reported second-quarter revenue of $35.6 million, slightly beating the consensus estimate of $35.4 million. However, it posted a quarterly loss of $0.03 per share, falling short of an estimated $0.02 loss per share.

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

What happens when 1% of Bitcoin holders control 99% of BTC supply?

July 29, 2024 Coin Telegraph

Bitcoin Halving

Whales have amassed a large portion of the Bitcoin in circulation, with around 1.86% of addresses holding most of the supply.

Bitcoin first came into existence on Jan. 3, 2009 when Satoshi Nakamoto mined the genesis block, minting the first cryptocurrency. In the years since, some wallet addresses have amassed a large portion of the supply.

According to the Blockchain Council, more than 19.71 million Bitcoin (BTC) have been awarded to miners in block rewards. Nakamoto’s white paper dictates only 21 million are available, meaning most Bitcoin is already in circulation.

BitInfoCharts data shows that around 1.86% of wallet addresses — over one million — hold more than 90% of all total BTC currently in circulation. Known as whales, some of these individuals or entities hold large amounts of crypto.

Bitcoin Halving

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