Latam Insights: Paraguay Shuts Down Largest Illegal Bitcoin Mining Farm to Date, Argentina and El Salvador Discuss Bitcoin

June 3, 2024 Bitcoin.com

Argentina

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay shut down the largest illegal bitcoin mining operation to date, Argentine and Salvadoran officials met to discuss bitcoin issues, and Ocean launched a global hub in El Salvador. Paraguayan Authorities Shut Down […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Bitmain Launches Antminer L9 With Enhanced 16 GH/s Capacity for Scrypt-Based Coins

June 2, 2024 Bitcoin.com

Antminer L9

Bitmain has announced the release of the Antminer L9, an application-specific integrated circuit (ASIC) miner tailored for coins that use the Scrypt algorithm, such as litecoin and dogecoin. The company reports that this new model provides 16 gigahash per second (GH/s) in hashing power and achieves an energy efficiency of 210 joules per gigahash (J/G). […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Bitcoin Miners See 46.15% Revenue Drop in May, Lowest Since October 2023

June 1, 2024 Bitcoin.com

Antpool

After two consecutive months of record-breaking revenue, bitcoin miners experienced a significant downturn in earnings in May, a level not seen since October 2023. In April, miners generated $1.79 billion, whereas May’s figures show a considerably lower revenue of approximately $964.24 million. Sharp Decline in Bitcoin Miner Revenue in May Bitcoin miners generated 46.15% less […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Bitdeer Announces $100 Million Investment From Tether

May 31, 2024 Bitcoin.com

Bitdeer Announces 0 Million Investment From Tether

ASIC development

On Friday, the publicly listed mining company Bitdeer Technologies Group revealed that the leading stablecoin firm Tether has purchased $100 million in Bitdeer shares. Additionally, Tether holds an option to acquire an additional $50 million in shares in the future. Bitdeer and Tether Forge Partnership With $100 Million Share Purchase Tether has acquired $100 million […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Paraguayan Authorities Shut Down 2,700 Miners in Largest Anti-Illegal Bitcoin Mining Intervention to Date

May 31, 2024 Bitcoin.com

ANDE

Paraguayan authorities detected and shut down an illegal bitcoin mining farm that had over 2,700 miners connected directly to the country’s power grid. The operation, carried out in the city of Saltos de Guaira and situated near a national power facility, was deemed by authorities as the largest operation of its kind. Paraguayan Authorities Bust […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Luxor and Bitnomial launch Bitcoin mining derivatives product

May 29, 2024 Coin Telegraph

Bitcoin

The new crypto derivatives product allows investors to speculate on future hashrates and hashprices.

Bitcoin (BTC) mining firm Luxor Technology Corporation and Bitnomial Inc. have launched a Bitcoin mining derivative product on Bitnomial’s United States derivatives exchange.

On May 28, Bitnomial announced the launch of Hashrate Futures, a derivative futures contract for trading the computing power of the Bitcoin blockchain.

Bitnomial claimed the product, trading under the ticker HUP, offers a way for miners to hedge their revenue and for investors to gain exposure to the Bitcoin mining hash rate.

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’

May 28, 2024 Bitcoin.com

Acquisition

Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly presented to shareholders. Riot asserts that the acquisition will establish a vertically integrated, geographically […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Bitcoin Hashrate Hits Record High, Surpasses Pre-Halving Levels

May 28, 2024 Bitcoin.com

ATH

Bitcoin’s hashrate has rebounded to the historic highs seen just before the fourth reward halving event. According to the seven-day simple moving average, the network’s hashrate reached a record 657 exahash per second (EH/s) this week. Bitcoin Hashrate Reaches Unprecedented 657 EH/s Following a significant drop post-halving, much of the hashrate has returned to the […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin Mining

May 27, 2024 Bitcoin.com

Bitcoin

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela seizes over 11,000 bitcoin miners to save energy, Paraguay cracks down on illegal bitcoin mining, and Brazil aims to finalize crypto regulations this year. Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over […]

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Venezuelan Authorities Seize Over 6,000 Bitcoin Miners in 2 New Operations; Over 17,000 Confiscated In Total

May 26, 2024 Bitcoin.com

Bitcoin (BTC)

Venezuelan authorities led by the National Power Ministry and Corpoelec, the state-owned power company, have seized over 6,000 bitcoin miners in two new operations. The ministry, which recently declared that it would disconnect all bitcoin miners due to its high energy consumption, has already confiscated over 17,000 miners from several mining farms. Venezuelan Authorities Advance […]

Mining

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