1. Home
  2. Mining Pools

Mining Pools

Jack Dorsey wants to decentralize Bitcoin mining with new investment

Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin.

Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey is backing a new BTC mining pool to help miners regain control of block rewards and transaction fees.

Dorsey has led a $6.2 million seed round for Mummolin, the parent company of the new decentralization Bitcoin mining pool called Ocean, according to an announcement on Nov. 29.

The seed funding will support the launch of Ocean, which is designed to decentralize and reshape the process of Bitcoin mining. The mining pool specifically aims to provide more mining process transparency and enable miners to receive block rewards directly from Bitcoin rather than from BTC mining pools.

Luke Dashjr, Mummolin co-founder and long-time Bitcoin Core developer, believes that the role of mining pools must change for Bitcoin to exist as a truly decentralized currency.

“Ocean is a new type of pool that enables miners to be truly miners again. We are launching as the most transparent pool and also the only noncustodial pool where miners are the recipients of new block rewards directly from Bitcoin,” Dashjr stated.

Related: Bitcoin user pays $3.1M transaction fee for 139 BTC transfer

Mummolin co-founder and president Mark Artymko stressed that traditional BTC mining pools take exclusive custody of block rewards and transaction fees before distributing them among miners. “This gives them the ability to withhold payment from individual miners, whether by their own choice or by legal requirement,” Artymko said, adding:

“OCEAN's non-custodial payouts directly to miners from the block reward remove this risk and the pool's undue influence over miners.”

Committed Ocean supporter Dorsey is confident that the platform will solve the problem of further centralization of pools and mining pools that could plague Bitcoin. He noted:

“When I see a project that is good for Bitcoin broadly, and that's also good for me and my companies personally, it becomes a simple decision for me and I'm happy to be a part of it.”

The launch of Ocean was announced at the Future of Bitcoin Mining Conference in the shadows of Barefoot Mining’s 150-year-old hydroelectric dam in rural South Carolina. Barefoot Mining, the first client of Ocean, has fully repurposed the dam, converting excess energy to Bitcoin mining at scale.

Ocean's launch comes 139 days before Bitcoin's fourth halving event, expected to occur on April 17, 2024. After the halving, the current 6.25 mining reward per block will drop to 3.125 BTC, significantly decreasing incentives for Bitcoin miners.

Magazine: Real AI use cases in crypto, No. 2: AIs can run DAOs

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Marathon’s Bitcoin mining rate fell 9% in August

The company still mined five times more Bitcoin than in August 2022, reporting that it produced 1,072 Bitcoin last month, and said the decrease from July was caused by unfavourable weather conditions.

Marathon Digital Holdings, a United States-based crypto mining operator, produced 1,072 Bitcoin in August. This is 9% less than in July, but still five times more than in August 2022. 

On Sept. 5, Marathon shared the unaudited BTC production and miner installation updates for August. According to the press release, last month the company increased its U.S. operational hash rate by 2% month-over-month to 19.1 exahashes, and its installed hash rate by 1% month-over-month to 23.1 exahashes. The rise occurred due to the update of BITMAIN S19 J Pro miners for more efficient S19 XPs.

Marathon reached its primary domestic growth target of 23 exahashes and now aims at 30 exahashes with two of them planned to be obtained through international facilities and 5 by contract from other entities.

Related: Marathon Digital Q2 results miss revenue and earnings forecasts

Right now Marathon is finalizing paperwork on its new mining facility in Garden City, Texas and its joint venture in Abu Dhabi mined 50 Bitcoin in August.

As to the relative decrease in BTC production, Marathon CEO Fred Thiel blames it on the climate conditions:

“The decrease in Bitcoin production from July was largely due to increased curtailment activity in Texas due to record high temperatures. These temporary shutdowns more than offset the progress we have made to increase our operational hash rate and optimize our operations.”

Last month Marathon published its Q2 2023 financial results, claiming the increase of the revenue by 228% compared to the Q2 2022. The company reported a $23.4 million gain due to selling 63% of the Bitcoin mined in the quarter, used to fund operating costs. Impairment charges on the value of its held digital assets were $8.4 million.

Magazine: How to protect your crypto in a volatile market. Bitcoin OGs and experts weigh in

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Stronghold requests permission to burn tires for crypto mining in Pennsylvania

Company requests the use of Tire Derived Fuel, citing the United States Environmental Protection Agency’s approval to use this kind of energy source at other industrial facilities in the state.

Stronghold Digital Mining, a Pennsylvanian crypto-mining company, is currently seeking approval to produce up to 15% of its energy using shredded tires, at its Panther Creek plant in Nesquehoning. Local environmental activists are preparing to oppose the initiative. 

According to local media, Stronghold filed an application with the Pennsylvania Department of Environmental Protection in July. However, it was only last week when the information broke out in the public sphere. Officially, the company requested the use of so-called Tire Derived Fuel (TDF), citing the United States Environmental Protection Agency’s (EPA) approval to use this kind of energy source at other industrial facilities in the state.

TDF has indeed been legal in the U.S. since 1991 and, in combination with other fuels, is being used at four plants in Pennsylvania. But local environment activists highlight the dubious status of the facilities, already consuming TDF and insist that the crypto mining facility shouldn't be granted such permission. Russell Zerbo, an advocate with Clean Air Council, said in the environment-focused West Pennsylvania radio show The Allegheny Front:

“Because [Panther Creek] uses the electricity it produces to generate cryptocurrency, rather than selling that electricity to the energy grid, the plant should be completely re-permitted as a solid waste incinerator that would be subject to increased air pollution monitoring requirements.”

Charles McPhedran, an attorney with a public interest environmental law organization Earthjustice, said that sulfur dioxide and nitrogen oxide emissions skyrocketed after Stronghold took over the Panther Creek plant in 2021. The company didn’t shy away from using the coal to mine crypto, though consuming the supply of the waste coal, generously available in Pennsylvania. According to some estimates, there are 2 billion cubic yards of waste coal still polluting the environment throughout the state’s territory. 

Related: Arkansas counties rush to pass noise regulations for crypto miners

Recently Stronghold revealed its financial results for Q2 2023. It mined 626 Bitcoin during the second quarter of 2023, which is 43% more than in Q4 2022 and represents 1% sequential growth compared to Q1 2023, despite the Bitcoin network hash rate rise of 39% and 23% during the same periods respectively. The company generated revenue of $18.2 million and a net loss of $11.7 million

Magazine: Inside the Iranian Bitcoin mining industry

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Bitcoin mining update: Stocks cool off, miners send BTC to exchanges to prep for halving

Bitcoin miners make moves in preparation for the BTC block reward halving, which is scheduled for April 2024.

In July, Bitcoin mining stocks continued their positive 2023 run, with the top 10 stocks by market cap gaining 23.10% on the month on average, with a year-to-date return of 277.34%.

In comparison, the Bitcoin (BTC) price lost 3.59% in July as it failed to build support above $30,000 for the sixth week since June. Despite a difficult July, the BTC price is still up 78.88% in 2023.

Bitcoin mining stocks performance. Source: Cointelegraph

The decline in Bitcoin’s price reduced the profitability of miners. To make conditions more challenging for miners, the mining difficulty reached a new all-time high, reducing miner profitability.

Historical trends show that the network’s hash rate could continue to rise leading up to the halving on April 26, 2024 as miners increase their hashing power by installing new efficient machines.

Besides adding to their processing power, miners are also adopting other hedging techniques like selling Bitcoin futures to lock in current prices.

As the network’s hash rate is expected to increase through the year as miners reinvest in new machines and adopt other hedging techniques, miner profitability and stock valuations will continue to face pressure in the lead-up to the event.

Bitcoin hash rate projected to grow until halving

While the BTC price has increased by around 80% year-to-date, the mining difficulty has also increased by 51%, offsetting the rise in profitability from the price surge.

In mid-July, Bitcoin’s difficulty set a new all-time high of 53.91 trillion units. The increase in difficulty triggered a capitulation event in the sector, which was already reeling under pressure at the start of the month.

BTC/USD price chart with hash ribbon indicator. Source: TradingView

Bitcoin’s hashprice index, a metric used to quantify the average daily miner earnings from 1 TH/s across the industry, dropped from $78.30 per TH/s on July 1 to $72 per TH/s by the end of July, per Hashrate Index data.

Hashprice index chart. Source: Hashrate Index

The network’s hash rate deflated in the second half of July, resulting in a 2% decline in its difficulty in the adjustment on July 26.

The adjustment will likely ease the pressure on miners, but only slightly. The total hash rate is still ranging above last month’s lows after rising consistently since the start of 2023.

Moreover, historical trends suggest that miners will likely continue adding to their fleet, which could cramp profitability further.

Bitcoin daily hash rate. Source: Glassnode

Before the previous halving, Bitcoin’s hash rate grew consistently for a year, peaking only a month before the halving in May 2020. The current rise in the network’s hash rate is showing a similar trend.

Miners are preparing for the halving

Besides increasing hash power, the miners are adopting various strategies to prepare for the event.

These strategies involve improving the cash flow and profits of their operations by managing the existing and newly mined BTC before the halving.

In the previous cycle, Bitcoin miners had started accumulating BTC a year before the event and began unloading only after the rewards were slashed. However, with less than nine months, or three quarters, before the next halving, the trend hasn’t repeated yet. Miners have been seen sending large amounts of BTC to exchanges.

The one-hop supply of miners, which represents the coins received from mining pools, dipped toward a 2023 low in July. 

Bitcoin one-hop supply. Source: Coin Metrics

Data from Bitfinex also shows that miner inflow to exchanges is part of a de-risking strategy to hedge their BTC on derivatives exchanges. For instance, selling BTC one-year futures allows miners to lock in a selling price of $30,000 for next year.

Some miners could also be selling to improve their cash balances before the halving.

According to data from TheMinerMag, public miners have liquidated nearly all of their newly mined Bitcoin in the last two months.

Meanwhile, Bitcoin mining stocks have continued their impressive positive rally from the start of the year and could be en route to another positive monthly closing in July.

Related: Buying Bitcoin is preferable to BTC mining in most circumstances — Analysis

Notably, miner stocks were fueled by reports of a $500 million investment by the United States-based investment fund Vanguard, a $7.2 trillion asset management firm. The fund added to its allocations of Riot Platforms (RIOT) and Maraton Digital Holdings (MARA) in certain indices.

The potential for further upside could be triggered by an ongoing short squeeze, as Marathon Digital Holdings, Riot Platforms and Cipher Mining are heavily shorted, with 20-25% of their float shares, according to Fintel data.

Nevertheless, the mining stocks showed the first signs of weakness in the second half of July, as most mining stocks recorded two negative weekly closings.

Given that the competition in the Bitcoin mining industry is expected to increase throughout the year, miners’ profitability and stock valuations may remain under stress leading up to the halving.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

The last Bitcoin: What will happen once all BTC are mined?

According to some experts, miners will always be essential to the Bitcoin ecosystem, even after mining the last coins.

Satoshi Nakamoto mined the genesis block on Jan. 3, 2009, minting the first 50 Bitcoin (BTC) in history and kicking off what would become a billion-dollar industry centered around mining crypto. However, with a cap on Bitcoin supply, the fate of miners after the last coins are issued is unclear. 

Bitcoin is created through mining, a process involving computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. For their efforts, miners are rewarded with a predetermined amount of BTC for each block of transactions.

According to the Blockchain Council, more than 19 million BTC has been awarded to miners in block rewards, and according to Nakamoto’s white paper, only 21 million are available. Once this cap is reached, miners will no longer receive rewards for verifying transactions.

Speaking to Cointelegraph, Nick Hansen, founder and CEO of Bitcoin mining firm Luxor Mining, says that despite the loss of block rewards, miners will continue to play an essential role in verifying and recording transactions on the blockchain, but how they are compensated will evolve. 

Currently, successfully validating a new block on the blockchain rewards miners with 6.25 BTC, worth about $188,381 at the time of writing, according to CoinGecko. Miners also receive transaction fees.

According to calculations shared in a May 1 tweet from on-chain analytics firm Glassnode, since 2010, fees and block rewards have netted miners over $50 billion.

Hansen believes transaction fees will eventually become the primary incentive for miners to continue long after the last BTC is mined. 

“That’s why as transaction fees become an increasingly important part of Bitcoin mining economics, understanding transaction fee dynamics and forecasting them into the future becomes even more critical,” he said, adding:

“Thus, it’s important to see fees increase over time, something that Bitcoin Ordinals, as of late, has helped with, for example.”

However, this shift is still likely years away, given that nobody currently mining will be alive when the last BTC block reward is received.

It will be a long wait to find out

According to Hansen, based on the block discovery rate and the halving process, which occurs roughly every four years — or every 210,000 blocks of transactions — the last BTC will most likely be mined around 2140.

A Bitcoin halving is a planned reduction in the rewards that miners receive, with the next one currently predicted to occur around April 2024. This will reduce the reward for each block to 3.125 BTC or roughly $94,190 at the time of writing.

In theory, by limiting the supply of BTC, each coin’s value should increase as demand increases and supply remains fixed.

Hansen says the price of BTC in 2140 will depend on unpredictable factors such as market demand, the regulatory environment, technological advancements and macroeconomic factors.

“The fact that all Bitcoin is in circulation may create scarcity, but whether this scarcity will translate to price increases is subject to market dynamics,” he said.

“As we look to a future where all Bitcoin has been mined, it’s important to remember that Bitcoin was designed with this endgame in mind.

“The tapering off of block rewards and shift toward transaction fees are intrinsic to the protocol, and represent an ingenious solution to ensuring the ongoing security and viability of the network,” Hansen added.

Related: Rising BTC transaction fees are a good thing, Bitcoin educator shares

Jaran Mellerud, a research analyst from Hashrate Index, told Cointelegraph that as Bitcoin adoption and usage grows, transaction fees will drastically increase and become the primary source of revenue for mining firms.

Mellerud said that, by the time the last BTC is issued, the block subsidy will have already been so minuscule that it will not significantly impact the coin supply.

“Due to the huge block space demand relative to the scarce block space supply, transaction fees will have to skyrocket in a future scenario of hyperbitcoinization,” he said, adding:

“If you don’t believe there will be sufficiently high transaction fees in the future to justify the existence of mining, you don’t really believe in Bitcoin.”

What about fiat

By the time the last Bitcoin is mined, Mellerud believes its value won’t be measured in United States dollars or other fiat currencies.

He speculates that by then, fiat money systems will have long since collapsed, and Bitcoin could be the successor, becoming the standard unit of account globally.

“Under such circumstances, the only valid way to measure the purchasing power of Bitcoin is by looking at how much energy a Bitcoin or satoshi can purchase,” Mellerud said.

“Just as we currently measure the purchasing power of the U.S. dollar in energy terms, barrels of oil,” he added.

A collapse of fiat money systems has long been predicted, spurred on by the many problems facing the traditional financial system. As recently as March 2023, Silicon Valley Bank collapsed due to a liquidity crisis, with Signature Bank and Silvergate Bank following.

Related: The first-world debt crisis means you can expect more pain ahead

Before the March 2023 banking crisis, a February survey conducted by business intelligence firm Morning Consult and commissioned by crypto exchange Coinbase found most respondents were already disillusioned with the global financial system.

A large portion of respondents are disillusioned with the global financial system and want change. Source: Morning Consult

Bitcoin might not be the same in 120 years

Speaking to Cointelegraph, Pat White, co-founder and CEO of digital asset platform Bitwave, believes miners will remain a critical part of the ecosystem, but not all will survive, with some shutting down in the face of mounting costs. 

According to a March 24 report from Glassnode, since 2010, miners have already been experiencing long periods of unprofitability, with only 47% of trading days being profitable.

According to data from Glassnode, miners have already been experiencing long periods of unprofitability. Source: Glassnode

“I think it’s conceivable we’ll see some miners shut down or other manipulation techniques used in an effort to drive up fees,” White said, adding: 

“But I also imagine that will happen well before the last Bitcoin is mined since the last few halvings will get the block rewards down to the satoshi level.”

However, White also says “a lot can happen in 120 years,” and BTC could fundamentally change over the next century.

White believes that by 2140, quantum computers will likely have broken the core encryption under Bitcoin, though he says engineers working on it have long known it’s not quantum-secure.

“That shouldn’t necessarily scare people because of this quantum security issue. Between now and 2140, there will have to be a major reworking of Bitcoin from the encryption layer upward,” he said. 

“At that point, the Bitcoin developer community will be able to assess whether or not we’re actually on track to have a functioning transaction fee-based network or if additional Bitcoin mining is necessary to ensure the security of the network,” White added.

White further speculates that while Satoshi Nakamoto’s white paper states that 21 million BTC is the supply cap and the single most concrete rule, none of us will likely be alive by 2140 to enforce that rule.

He believes crypto boils down to coding and consensus; if the community thinks the transaction fee incentive is insufficient to keep the network secure, future miners could theoretically extend the BTC hard cap beyond 21 million.

Related: $160K at next halving? Model counts down to new Bitcoin all-time high

What effect this could have on the price isn’t clear, but either way, White thinks that the price of Bitcoin will stabilize at some global inflation-reflecting price point, and the major price movement will occur at some time in the next 120 years if one or more nations seriously pick it up as their reserve currency.

In that instance, he says it will “likely be independent of Bitcoin mining schedules,” and it would be the most solidifying moment to drive up the price of BTC.

Related: US law protects institutions and exposes retail investors — Rep. Torres

“There are things we can’t even imagine that might impact Bitcoin — wars and energy crises obviously — but what if we’re a true multiplanetary species by then and we have to extend the block production time to support solar system-level communication speeds,” White said.

“What I always find important is to focus on the hardest problems we’re seeing today and do what we can to solve them. That might mean solving for payments or digital ownership, or banking the unbanked — these are the problems to focus on now,” he added.

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Montana ‘right to mine’ crypto bill passes the House

The legislation has already passed through Senate voting in February and will now make it to the table of Governor Greg Gianforte.

The bill, seeking to enshrine crypto miners’ rights in Montana, United States, successfully passed the third reading in the state’s House of Representatives. Now, the only thing that is required for it to become law is the Governor’s signature. 

Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was voted in during the third reading by 64 votes versus 35 votes on Apr. 12. The legislation has already passed through Senate voting in February. It now will make it to the table of Governor Greg Gianforte. While Gianforte has a right to veto the bill, he belongs to the Republican party, as does the bill sponsor, state Senator Daniel Zolnikov.

The suggested legislation aims to establish a "digital asset mining right" while also forbidding any discriminatory electricity rates charged to cryptocurrency miners. Additionally, it seeks to safeguard mining operations that take place "at home" and remove the authority of local governments to utilize zoning laws to impede crypto-mining activities.

The bill also bars any extra taxes on the utilization of cryptocurrency as a means of payment and categorizes "digital assets," comprising cryptocurrencies, including stablecoins, as well as non-fungible tokens (NFTs), as "personal property."

Related: How Montana stands to benefit if its pro-crypto mining bill is approved

The amended draft of the bill contains one major change in comparison to the original draft — Section 3 was significantly shortened. The old version of Section 3 occupied almost three full pages and contained a number of articles, which had nothing to do with the topic of crypto mining. Now Section 3 outlines three specific areas, limiting the power of the local authorities. They won’t be able to impose on mining centers any requirements different from those of data centers. And they might not prevent crypto mining both in industrial areas and in private homes.

In early April, a bill, protecting crypto miners from discriminatory regulations and taxes, has passed through the House of Representatives and Senate in the state of Arkansas and now is also awaiting a Governor’s decision.

Magazine: Inside the Iranian Bitcoin mining industry

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Bitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC Deal

Bitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC DealAccording to a recent filing with the U.S. Securities and Exchange Commission (SEC), Bitdeer Technologies Holdings, a digital mining firm founded by crypto-billionaire Jihan Wu in 2018, plans to be listed on Nasdaq this Friday. The bitcoin mining firm is scheduled to go public through a special purpose acquisition company (SPAC) deal with Blue Safari […]

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

Texas’ gold-backed digital currency project: Law Decoded, April 3–10

While Ted Cruz and Ron DeSantis attack the idea of American CBDC, Texan lawmakers propose to create a statewide one.

The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital currency? The first of its kind, a gold-backed state-based digital currency project has appeared in Texas. 

On the same day, two Texan lawmakers introduced identical bills for creating a state-based digital currency backed by gold. Each unit of the digital currency would represent a particular fraction of a troy ounce of gold held in trust, according to the bills. Once a person purchases a certain amount of digital currency, the comptroller uses that money received to buy an equivalent amount of gold. Although neither of the bills has been passed or presented for a vote, both state that the act will take effect from Sept. 1, 2023.

Meanwhile, another bill has been passed by a senate committee in Texas. The bill would largely remove incentives for miners operating under the state’s regulatory environment. Under the bill, crypto firms participating in a program intended to compensate them for load reductions on Texas’ power grid would be capped for anticipated demand of “less than 10 percent of the total load required by all loads in the program.” Certain crypto mining companies would also not receive a reduction on state taxes for participation in the program starting in September 2023.

Regulators announce $10 million settlement with Robinhood ‘for failing investors’

The California Department of Financial Protection and Innovation said that the company behind cryptocurrency and stock trading platform Robinhood will likely pay more than $10 million in penalties “for operational and technical failures that harmed main street investors.” The settlement resulted from an investigation by the North American Securities Administrators Association in conjunction with securities regulators from Alabama, Colorado, California, Delaware, New Jersey, South Dakota and Texas. The platform suffered a series of system outages in March 2020, causing users to miss out on trades while many of its services were unavailable.

Continue reading

Coinbase supports new court action to remove Tornado Cash ban

The U.S. Department of the Treasury faces a renewed legal challenge aiming to overturn its decision to sanction the crypto mixer Tornado Cash. The challenge was filed by six individuals backed by the cryptocurrency exchange Coinbase. A motion for a partial summary judgment was filed on April 5 in a Texas district court, with the Coinbase-backed plaintiffs moving for the U.S. Office of Foreign Asset Control (OFAC) to settle the first two counts from its original complaint filed in September 2022. The counts claimed OFAC exceeded its statutory powers under the International Emergency Economic Powers Act and violated the free speech clause of the U.S. Constitution’s first amendment.

Continue reading

Bill protecting Bitcoin mining rights passes in Arkansas

Continue reading

A bill seeking to regulate Bitcoin (BTC) mining activity in Arkansas has passed in the state’s Congress. It will now move to the governor’s office for approval. Under the legislation, crypto miners will enjoy the same rights as data centers. The bill outlines that Arkansas’ government should not “impose a different requirement for a digital asset mining business that is applicable to any requirement for a data center.” Arkansas’ move follows a similar initiative in the state of Montana, where the Senate passed a bill to protect crypto miners in late March. 

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

March Bitcoin Mining Stats Show Climbing Revenue and Hashrate Highs

March Bitcoin Mining Stats Show Climbing Revenue and Hashrate HighsAccording to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins over the past month. Bitcoin’s network hashrate has been around 341 exahash per second (EH/s) during the last 2,016 blocks or the last two weeks. This month, the mining pools Foundry USA and Antpool dominated the pack, accounting […]

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

While Bitcoin’s Hashrate Remains Sky-High, Merge-Mined Crypto Asset Networks Benefit

While Bitcoin’s Hashrate Remains Sky-High, Merge-Mined Crypto Asset Networks BenefitIn recent times, Bitcoin’s hashrate has been consistently above 300 exahash per second (EH/s) as multiple mining pools dedicate significant hashpower to the Bitcoin blockchain today. Interestingly, some of the world’s top bitcoin mining pools are also using their hashrate to merge-mine other coins, and these networks have benefited from bitcoin’s increased hashrate. How Bitcoin’s […]

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain