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Bitcoin Network Adjusts to Lower Fees and Reduced Hashrate After Latest Halving

Bitcoin Network Adjusts to Lower Fees and Reduced Hashrate After Latest HalvingBased on the three-day simple moving average, Bitcoin’s hashrate has continued its downward trend, registering at about 550 exahash per second (EH/s). Following the halving, onchain costs have decreased significantly, with data indicating transfer fees ranging from $1.50 to $3.65 per transaction. Bitcoin’s Hashrate Slides 19% in 16 Days According to statistics, the three-day simple […]

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Bitcoin Miner Cleanspark’s Net Income Tops $126.7 Million in ‘Record-Breaking’ Quarter

Bitcoin Miner Cleanspark’s Net Income Tops 6.7 Million in ‘Record-Breaking’ QuarterIn the first quarter of 2024, Cleanspark, a U.S. bitcoin mining company listed on the stock market, reported revenues exceeding $111.8 million. The company’s net income for the same period was $126.7 million. Gary A. Vecchiarelli, the CFO of Cleanspark, partially attributes the company’s “record-breaking” performance to the surge in bitcoin prices. Impact of Bitcoin […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Post-Halving, Bitcoin Difficulty Drops Significantly; Hashrate Dips Below 600 EH/s

Post-Halving, Bitcoin Difficulty Drops Significantly; Hashrate Dips Below 600 EH/sThe Bitcoin network experienced its second difficulty adjustment post-halving and the most significant reduction this year. Additionally, the network’s total hashrate fell below the 600 exahash per second (EH/s) mark for the first time since late March. Bitcoin Network Sees Significant Reduction in Difficulty and Hashrate Over the forthcoming two weeks, Bitcoin miners will see […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Genesis Digital Assets to Launch Flare Gas Powered Bitcoin Mining Site in Argentina

Genesis Digital Assets to Launch Flare Gas Powered Bitcoin Mining Site in ArgentinaGenesis Digital Assets, a leading digital miner, has partnered with YPF Luz, an Argentine power company, to receive power from a flare gas installation to operate a bitcoin mining site in Argentina. The data center facility, in the Bajo del Toro thermoelectric plant, will host 1,200 bitcoin miners. Genesis Digital Assets to Operate Flare Gas […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Core Scientific sees revenue surge in 1Q24 after emerging from bankruptcy

Bitcoin miner Core Scientific has posted $150 million in revenue from digital asset mining in the first quarter of 2024, boosting its gross margin to 46% from 26% in the previous year.

Bitcoin miner firm Core Scientific posted improved financial results for the first quarter since emerging from bankruptcy. 

The company reported a total revenue of $179.3 million, marking an increase of $58.6 million over the same period in 2023.

Net income for the quarter reached $210.7 million, an increase from the net loss of $0.4 million reported for the first quarter of 2023. This rise in net income was primarily driven by gains from obligations totaling $143.8 million and a decrease in Chapter 11 financing expenses, said the company.

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Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Hut 8’s Bitcoin Mining Output Drops 36% to 148 BTC in April

Hut 8’s Bitcoin Mining Output Drops 36% to 148 BTC in AprilNorth American bitcoin miner, Hut 8, said it mined 148 bitcoins, or 36% coins less in April than it did in March. Hut 8 primarily attributes the decrease in the number of mined bitcoins to the relocation of its proprietary miners, which were previously hosted at the Kearney and Granbury sites. The Halving Effect Hut […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

How long does it take to mine 1 Bitcoin?

Mining a Bitcoin block takes about 10 minutes, but does that timeframe translate to mining 1 Bitcoin?

Bitcoin mining is the network’s method of transaction validation. This process is also how new Bitcoin are added to the existing supply.

There are currently around 19.5 million Bitcoin in circulation and the cryptocurrency is programmed to have a total supply of 21 million. The final 1.5 million or so are locked away, waiting for users with powerful computers to release them through Bitcoin mining.

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Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

The Halving Effect: Bitcoin Hashrate Decreases as Miners Prepare for Probable Difficulty Drop

The Halving Effect: Bitcoin Hashrate Decreases as Miners Prepare for Probable Difficulty DropJust over two weeks have passed since the fourth Bitcoin halving took place. During this period, the network’s hashprice dropped from over $100 per petahash to below $45 at the beginning of May. It has since increased to $50 per petahash. Despite the modest rebound, the network’s total hashrate has experienced a decrease, with a […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto

Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ ManifestoOn May 3, the Bitcoin network validated its largest block to date at block height 841,886, which included an inscription showcasing the technology stack dubbed Logos’ manifesto. This block, similar to the one that previously held the record as the largest, was mined by Marathon. Record-Setting 841,886 Bitcoin Block Mined, Outpacing Previous Milestone Marathon has […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts

Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTC

Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTCRiot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Modest Growth Noted […]

Digital Assets Platform Nexo Introduces USD, EUR, and GBP Fiat Accounts