Bitcoin Mining

Bitcoin Transaction Fees Rise to 28-Month High as Hashrate Drops Amid Price Rally

The cost of doing transactions on bitcoin is surging while the network suffers its worst congestion in nearly three years. As of Wednesday, the mean fee per transaction, or the average transaction cost, was 0.00086764 BTC, the highest since June 2018, according to data source Glassnode. In dollar terms, the average transaction fee was $11.66.  …

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Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner

Philippines Regulator Warns Investors to Steer Clear of Mining City’s Bitcoin Vault Ponzi There’s a mining contract scheme people are discussing and making the rounds on the web called “Mining City” or “Bitcoin Vault.” The Philippines SEC recently put out a warning against the operation and the alleged masterminds behind the project. One … read …

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‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

Bitcoin mining profitability is in the basement, seeing all-time lows in 2020. Conversely, Bitcoin’s hashrate has surged throughout 2020, propelled in part by mining farms financing new hardware to boost their operations. Bitcoin’s hashrate has taken a dip as China’s wet season comes to an end, but mining professionals predict this will only be temporary, …

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How to build a crypto mining rig in 2020 to earn Bitcoin and Ether

In a time of global crisis, a pandemic, and a generally unstable political and social environment, cryptocurrencies have shown remarkable stability. Moreover, the pandemic-induced economic downturn played into the hands of the industry by not only attracting professional cryptocurrency traders but also reviving mining as a way of generating passive income.  It is not surprising …

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This New Service Plays Matchmaker Between Solo Miners, Big Mining Farms

A first-of-its kind service wants to play matchmaker between big-scale mining facilities and individual miners looking for a hosting setup. Bitcoin mining company HASHR8 just launched its Compass platform, a search engine of sorts for individual miners to shop for a hosting facility to operate their mining hardware for them. While mining farms hosting solo …

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Bitcoin Mining Rigs Struggle for Profits, Despite BTC’s Hashrate Reaching an All-Time High

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/411174″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/daw_1456x360-25.jpg” alt width=”1456″ height=”360″></a></div><strong>Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs …

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Bitcoin Miner Marathon Agrees to Deal That Cuts Electricity Costs by 38% With US Power Company

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/411174″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/daw_1456x360-22.jpg” alt width=”1456″ height=”360″></a></div><strong>Nasdaq-listed Marathon Patent Group has agreed to a joint venture deal with U.S. independent power producer Beowulf Energy to deliver cheap electricity for its bitcoin mining operations in the country’s north.</strong> In a statement on Tuesday, Marathon said …

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Ethereum miners made 450K ETH from high network fees during DeFi peak

Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees.  Miners took home 450,089 ETH in fees ($168.7 million) and this …

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A researcher debunks Stock-to-Flow model, likens Bitcoin to a ‘tech stock’

A report authored by the research team of ByteTree purports to debunk one of the most popular Bitcoin (BTC) valuation models — Stock-to-Flow. The model provides a very optimistic forecast for Bitcoin, claiming that a year from now we should see price levels above $100,000. Source: Glassnode. BytTree’s co-founder and chief investment officer, Charlie Morris, …

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MyEtherWallet’s founder used to pay his rent by mining Bitcoin

Kosala Hemachandra, founder and CEO of crypto asset storage platform, MyEtherWallet, mined Bitcoin as a way to pay his Los Angeles rent between 2014-2015. When it came time to pay his bills, he would convert his coins into cash to facilitate the actual transaction. In conversation with Cointelegraph, Hemachandra reminisced about purchasing Bitcoin mining equipment …

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