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Crypto Market Downturn Hits Coinbase, Microstrategy, and Mining Stocks Hard

Crypto Market Downturn Hits Coinbase, Microstrategy, and Mining Stocks HardDuring the widespread downturn in the cryptocurrency markets, publicly listed companies within the sector such as Coinbase, Microstrategy, and bitcoin mining enterprises have experienced notable declines in their stock values. Shares of Coinbase have fallen by over 21% since last month, and in the same period, Marathon Digital Holdings’ shares have dropped more than 28% […]

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Bitcoin miner Marathon mines invalid block in failed ‘experiment’

Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations.

Bitcoin mining firm Marathon Digital has confirmed it mined an invalid  Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations.

In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiments and stressed they weren’t trying to alter the network in any way:

“In no way was this experiment an attempt to alter Bitcoin Core in any way.” Marathon said, emphasizing that they corrected the error as soon as they noticed the invalid block.

Marathon said the bug, which emanated from the firm’s internal development environment, wasn’t related to Marathon’s Bitcoin production pool or Bitcoin Core — the leading software used to connect to the Bitcoin network and run a node.

The incident occurred on Sept. 26 at 9:42 pm UTC on block 809478, according to mempool.space.

Several Bitcoin developers, along with BitMEX Research attributed the invalid block to a “transaction ordering issue.” Bitcoin developer “mononaut” believes Marathon mistake came from resorting the transactions in order of ascending absolute fees.

Bitcoin analyst Dylan LeClair suggested that Marathon should have conducted this experiment on a testnet before attempting it on Bitcoin’s mainnet.

In reflection, Marathon said Bitcoin “functioned exactly as designed” by excluding the invalid block:

“This incident, while unintended, underscores the robust security of the Bitcoin network, which rejected and rectified the anomaly.”

Related: Marathon Digital Q2 results miss revenue and earnings forecasts

Cointelegraph reached out to Marathon for comment but did not receive an immediate response.

Marathon’s (MARA) share price fell 2.91% to $8.01 during opening hours on Sept. 27, according to Google Finance.

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Top Analyst Predicts Rallies for Coinbase and Three Other Crypto-Proxy Stocks, Updates Outlook on Bitcoin (BTC)

Top Analyst Predicts Rallies for Coinbase and Three Other Crypto-Proxy Stocks, Updates Outlook on Bitcoin (BTC)

An analyst who nailed the bottom of Bitcoin’s (BTC) 2018 downtrend says that stocks with exposure to the crypto industry look far more bullish than the digital asset markets. Pseudonymous analyst Bluntz tells his 223,900 Twitter followers that the stocks of crypto exchange Coinbase (COIN), business analytics firm MicroStrategy (MSTR), digital asset mining companies Marathon […]

The post Top Analyst Predicts Rallies for Coinbase and Three Other Crypto-Proxy Stocks, Updates Outlook on Bitcoin (BTC) appeared first on The Daily Hodl.

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Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for .9 MillionOn Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin mining machines since the crypto winter started in June. Cleanspark Purchases 3,853 Antminer S19J Pro Units at $15.50 per Terahash After the bitcoin (BTC) mining […]

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Bitcoin Miner Cleanspark Raises Year-End Outlook by 10%, Firm’s Hashpower Surpasses 5 EH/s

Bitcoin Miner Cleanspark Raises Year-End Outlook by 10%, Firm’s Hashpower Surpasses 5 EH/sOn October 25, the bitcoin mining operation Cleanspark announced that the firm’s hashrate now exceeds 5 exahash per second (EH/s), a milestone achieved more than two months ahead of the company’s original year-end goals. Cleanspark says it now aims to surpass 5.5 EH/s by the year’s end by increasing the miner’s hashrate goal by 10%. […]

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Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy Protection

Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy ProtectionBitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter 11 Bankruptcy Protection Five […]

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