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Bitcoin’s Hashrate Nears All-Time Peak Despite Difficulty Bump and Revenue Loss

Bitcoin’s Hashrate Nears All-Time Peak Despite Difficulty Bump and Revenue LossDespite a bump in mining difficulty and a drop in hashprice, Bitcoin’s total hashrate is still on the rise. In fact, on Wednesday it’s just 12 exahash per second (EH/s) away from reaching its peak of 677 EH/s, which was recorded on July 25. Bitcoin Mining Operations Push Through Lower Hashprice, Nearing Record Hashrate On […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

IMF Economists Suggest Electricity Tax to Lower Crypto and AI Environmental Impact

IMF Economists Suggest Electricity Tax to Lower Crypto and AI Environmental ImpactInternational Monetary Fund (IMF) economists have warned of the environmental impact of crypto mining and AI data centers, which are projected to increase global electricity consumption to 3.5% by 2027, leading to higher carbon emissions. Proposing a targeted electricity tax, the authors estimate a potential reduction in emissions by 100 million tons annually, while generating […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s Profits

Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s ProfitsWith the first half of August in the rearview mirror, it’s clear that bitcoin miners are facing a challenging month, having only accumulated 36.36% of the total revenue they made in July. A combination of bitcoin’s price fluctuations and reduced onchain fees has left miners in a much tighter spot. Bitcoin Miners Face a Hard […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Bitcoin Mining Profits Crushed by Record Difficulty and Historic Hashprice Drop

Bitcoin Mining Profits Crushed by Record Difficulty and Historic Hashprice DropOn Aug. 7, 2024, bitcoin’s price moved within a 24-hour range between $55,742 and $57,607. This lower price bracket has significantly reduced bitcoin mining revenue, causing the estimated daily value of 1 petahash per second (PH/s), also referred to as the hashprice, to drop below $36 two days prior. Miners Grapple With Unprecedented Low Hashprice […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Historic Drop in Bitcoin Revenue Leaves Miners Struggling

Historic Drop in Bitcoin Revenue Leaves Miners StrugglingAfter peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

MARA Reports Q2 2024 Earnings: Revenue Surges Amid Rising Losses and Hashrate Increase

MARA Reports Q2 2024 Earnings: Revenue Surges Amid Rising Losses and Hashrate IncreaseMARA, a leader in digital asset compute, reported a significant revenue increase of 78% to $145.1 million for the second quarter of 2024. Despite this growth, the company faced a substantial net loss of $199.7 million, driven by a $148 million fair value loss on digital assets. MARA Reports Q2 Earnings: Revenue Rises 78% Despite […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Coinbase shares rise 3% as Q2 crypto trading doubles from last year

Coinbase has marked its third consecutive quarter in the black, with its net revenue and trading volumes jumping 108% and 145%, respectively, from the prior year.

Coinbase shares rose 3.2% after hours following its latest Q2 results filing — reporting $1.4 billion in revenue in Q2 along with a hefty year-on-year increase in crypto trading volumes.

The crypto exchange reported $266 million in consumer and institutional trading volumes, up from the prior year period and in line with analyst estimates, though it was a considerable drop from the $312 billion reported in Q1.

When it came to revenue, Coinbase gained the most ground from subscription and services revenue, which includes stablecoin revenue, blockchain rewards and fees. This marked a 17% increase from Q1 and nearly doubling from Q2 2023.

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Congress Panel Probes Crypto Debanking Amid Industry Uproar

Coinbase Reports $1.4 Billion in Q2 Revenue Amid Industry’s Regulatory Advances

Coinbase Reports .4 Billion in Q2 Revenue Amid Industry’s Regulatory AdvancesCoinbase posted $1.4 billion in total revenue for the second quarter of 2024, marking a period of continued growth and progress in the crypto industry. The company’s earnings report said it also made strides toward regulatory clarity in the U.S., a key development for the broader crypto economy. Coinbase Publishes Q2 2024 Earnings and Shareholder […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Cryptoquant Insights: Bitcoin Miners See Revenue Boost as Hashrate Soars

Cryptoquant Insights: Bitcoin Miners See Revenue Boost as Hashrate SoarsBitcoin miners are witnessing a resurgence in activity as the network’s hashrate approaches all-time highs, according to the latest research from Cryptoquant. This recovery is attributed to improved revenues, which have led to a reduction in selling pressure from miners. Miners Hold Steady: Bitcoin Hashrate Rises, Selling Pressure Decreases The latest onchain market activities report […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar

Bitcoin Miners Have Been ‘Extremely Underpaid’ Since Mid-June

Bitcoin Miners Have Been ‘Extremely Underpaid’ Since Mid-JuneBitcoin miners have faced significant underpayment since mid-June, according to metrics from cryptoquant.com. As of now, the estimated value of 1 petahash per second (PH/s) of hashrate remains notably low at $47.79 per PH/s. Despite the revenue decline, Bitcoin’s hashrate is still just under the 600 exahash per second (EH/s) mark. Bitcoin Miners’ Earnings Plummet; […]

Congress Panel Probes Crypto Debanking Amid Industry Uproar