Bitcoin ETFs scooped up almost 3X more BTC than produced in December

January 7, 2025 Coin Telegraph

bitcoin etf

Spot Bitcoin ETFs in the United States hoovered up a whopping 51,500 BTC in December while only a fraction of that was produced.

Spot Bitcoin exchange-traded funds in the United States alone scooped up almost three times the nearly 14,000 coins produced by miners during the month.

December 2024 was a huge month for spot Bitcoin ETFs in the US, which accumulated a total of around 51,500 BTC, according to data averaged from Apollo and BiTBO.

Momentum was driven by spot markets, with the asset reaching an all-time high of $108,135 on Dec. 17, according to CoinGecko.

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US accounts for over 40% of global Bitcoin hashrate: Report

January 4, 2025 Coin Telegraph

Bitcoin hashrate

Hashrate dominance continues to be debated due to the pseudonymous and geographically distributed nature of Bitcoin mining.

The United States accounted for over 40% of the Bitcoin network’s global hashrate — the total computing power securing the Bitcoin protocol — at the close of 2024, with two US-based mining pools, Foundry USA and MARA Pool, accounting for over 38.5% of all blocks mined.

According to TheMinerMag, Foundry USA grew its hashrate from 157 exahashes per second (EH/s) at the start of 2024 to roughly 280 EH/s by December.

Foundry is currently the single biggest mining pool by hashrate, controlling roughly 36.5% of the total hashrate in the Bitcoin network.

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Bitcoin miners earned just 3.6% of record $2T market cap — Analysis

December 13, 2024 Coin Telegraph

Bitcoin

BTC miners have reaped the benefits in 2024, but their earnings are tiny compared to Bitcoin’s giant market cap.

Bitcoin (BTC) miners have earned over $70 billion since the Bitcoin network was created.

As calculated by onchain analytics resource Glassnode in an analysis released on Dec. 11, Bitcoin users have paid miners $71.49 billion.

Bitcoin at $100,000 is a lucrative opportunity for miners, but looking back over the industry’s history, surprising figures stand out.

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CleanSpark targets 400MW Bitcoin mining capacity after acquiring GRIID

November 1, 2024 Coin Telegraph

Bitcoin

CleanSpark CEO Zach Bradford said it was a strategic move for the firm to increase its mining capacity in Tennessee.

Bitcoin mining firm CleanSpark says it is closer to realizing its plan to build 400 megawatts of capacity in the coming years after acquiring American-based infrastructure company GRIID.

CleanSpark CEO Zach Bradford said he was pleased to announce the completion of the firm’s acquisition of GRIID Infrastructure following shareholder approval, which is a “strategic move that allows us to grow our Bitcoin mining capacity in the state of Tennessee,” in an Oct. 31 announcement.

He added that the acquisition will allow CleanSpark to build over 400 megawatts of capacity in the coming years. “Moreover, this adds significant geographic and power supply diversity through expansion in the Tennessee Valley Authority service territory, providing us with additional operational flexibility,” he said.

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Bitfarms inks another 10,000 Bitcoin miner hosting agreement with Stronghold

November 1, 2024 Coin Telegraph

Bitcoin

The Bitcoin data center firm is deploying an additional 10,000 miners to Stronghold’s Scrubgrass site.

Crypto mining firm Bitfarms has signed its second hosting agreement with United States-based Stronghold Digital Mining to expand operations at its site in Pennsylvania.

Under the terms of the hosting agreement, the Bitcoin (BTC) data center operations firm will deploy an additional 10,000 miners to Stronghold’s Scrubgrass site. The mining hardware was originally expected to be used for its Yguazu site in Paraguay.

Bitfarms CEO, Ben Gagnon, said that optimizing company assets with these rapid upgrades at Stronghold’s Pennsylvania sites “will provide significant near-term value for Bitfarms.”

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Bitfarms inks another 10,000 Bitcoin miner hosting agreement with Stronghold

November 1, 2024 Coin Telegraph

Bitcoin

The Bitcoin data center firm is deploying an additional 10,000 miners to Stronghold’s Scrubgrass site.

Crypto mining firm Bitfarms has signed its second hosting agreement with United States-based Stronghold Digital Mining to expand operations at its site in Pennsylvania.

Bitfarms CEO, Ben Gagnon, said that optimizing company assets with these rapid upgrades at Stronghold’s Pennsylvania sites “will provide significant near-term value for Bitfarms.”

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Analysts Link Bitcoin Rally to Trump’s Election Odds – Microstrategy Gains Set Stage for a Breakout

October 16, 2024 Bitcoin.com

Analysts at global research and brokerage firm Bernstein say bitcoin’s surge is fueled by Donald Trump’s rising chances in the 2024 election. They point to Microstrategy’s stock, soaring 191% this year, as a key signal of a looming market breakout. With Trump leading in key swing states, his election odds are igniting a stronger crypto […]

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Bitcoin Transfer Volumes Soar in 2024, Set to Break 2023’s Record in 2 Weeks

October 6, 2024 Bitcoin.com

Bitcoin

According to recent data, the five busiest days for bitcoin transfers on the network occurred in 2024. The all-time peak was at the end of April, with the second-highest transaction day recorded on Sept. 8. In its more than 15 years of operation, the Bitcoin network has witnessed daily transfer records grow annually for nine […]

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The 5 Month Halving Hangover: Bitcoin Miners Continue to Face Revenue Struggles

September 21, 2024 Bitcoin.com

Bitcoin

Metrics reveal that although BTC prices climbed 6.97% in September, Bitcoin’s hashprice—the anticipated daily revenue from 1 petahash per second (PH/s)—remains ultra-low. This suggests that miners are still dealing with extremely thin profits. With just nine days left in the month, miners have already earned a hair over 62% of what they brought in during […]

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Glassnode Reports Rising Bitcoin Hashrate, ETF Outflows, and Lower Investor Engagement

September 10, 2024 Bitcoin.com

Bitcoin

Glassnode’s latest report reveals a persistent rise in Bitcoin’s hashrate despite falling revenues for miners. Concurrently, investor engagement with exchanges and trade volumes are showing a notable decline, reflecting reduced appetite for speculation. Miners Persist Amid Bitcoin Market Challenges as Investors Reduce Activity Bitcoin miners continue to demonstrate resilience, as highlighted in Glassnode’s onchain report. […]

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