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Bitfarms reschedules its special shareholders meeting to November 6, 2024, to address Riot's amended requisition. The meeting will be held in-person. (Read More)
Riot Platforms reports a drop in Bitcoin production for August 2024 but stays bullish with expansion plans to increase its mining capacity and optimize energy costs.
Marathon Digital is showing interest in artificial intelligence (AI) as its Bitcoin production slowed in August. On Sept. 5, the BTC miner announced the appointment of AI experts Janet George and Barbara Humpton to its board, replacing Kevin DeNuccio and Said Ouissal, who resigned on Sept. 1 as part of a planned transition. AI experts […]
The post Marathon Digital hints at AI pivot following Bitcoin production slowdown in August appeared first on CryptoSlate.
August 2024 represented the worst month for Bitcoin mining revenue since September 2023, with $827.56 million in fees generated.
Bitfarms will attend H.C. Wainwrights 26th Annual Global Investment Conference in NYC, featuring CEO Ben Gagnon on a Bitcoin Mining Panel. (Read More)
According to CEO Phil Harvey, Bitcoin miners will average roughly $1.50 in revenue per terahash every month during the current market cycle.
The carbon-offset Bitcoin ETF has been waiting on regulators since December 2023.
Riot Platforms called the recent board changes at Bitfarms a step in the right direction, but stressed that more change is needed.
Hives strategy targets meeting the rising demand for AI computing while boosting its balance sheet with green-mined Bitcoin.
Canaan Inc. has completed its third and final tranche of preferred shares financing, raising $50 million to expand its North American self-mining operations. (Read More)
Zach Bradford, CEO of Bitcoin (BTC) mining firm CleanSpark, has predicted that the premier cryptocurrency may peak close to $200,000 this cycle. Bradfords Bullish Take On BTC Price In an interview with research and brokerage firm Bernstein, CleanSparks CEO noted that historically, post-halving periods have led to several positive adjustments for BTCs price. It should be recalled that Bitcoin underwent its fourth halving in April 2024, when its block confirmation rewards were slashed from 6.250 BTC to 3.125 BTC. In a note to clients shared today, Bradford remarked: Based on my current analysis, I believe we could see bitcoin peak just under $200,000, sometime in the next 18 months. Thatll likely be a peak. But I do think well see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle. Related Reading: Historical Trends Put Bitcoin At $400,000 With Shocking Timeline Bradford stressed that he sees Bitcoins extended flat period as a positive sign. It indicates that a sustained rally to the upside may last longer than usual. However, he cautions that this depends on macroeconomic events and other relevant factors. Adding to his comments, Bradford said he expects a considerable push in BTC price post-election through January 2025. Subsequently, this could help Bitcoin miners with efficient cost structures expand their profit margins. Interestingly, the CleanSpark CEO doesnt think its important who wins the US presidential elections in November 2024. Rather, the reduction in electoral uncertainty after the elections will help investors place more confidence in risk-on assets such as Bitcoin. Bradford opined that the US Federal Reserve (Fed) was late in cutting interest rates after hiking them over the past two years. He concluded that to correct its delayed action, the Fed might cut rates more aggressively in the next 15 to 16 months, leading to further BTC price appreciation. Bitcoin Price Looks For Further Upside, But Challenges Remain After hitting a low of nearly $53,900 on September 6, Bitcoin has rebounded by nearly 10% on the back of multiple positive developments, such as the Fed cutting interest rates by 50 basis points (bps), and increased net daily inflows to ETFs. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Crypto analysts believe that there is room for further upside in Bitcoin price. For instance, analysts from 10x Research predict that BTC may reach $70,000 in the coming two weeks, followed by a new all-time high (ATH) price. However, there are reasons to temper this optimism. For example, the recent Bitcoin rally has been accompanied by a rapid increase in open interest, indicating the possibility of high price volatility in the near term. Similarly, another analyst highlighted the greater increase in derivatives trading compared to spot trading as a cause for concern regarding a healthy Bitcoin price trajectory to the upside. Bitcoin trades at $63,710 at press time, down 3.2% in the past 24 hours. Featured image from Unsplash, Chart Tradingview.com
Bitcoin network difficulty, a closely related yet separate metric, is also at historically high levels and currently sits at 89.4 trillion.
Riot Platforms urges further changes to Bitfarms board, proposing two independent directors ahead of a special meeting in October.
The Bitcoin network hashrate hit a new all-time high of 746 EH/s on September 3rd, showcasing improved security and fundamentals. This comes as Bitcoin prices decline, underscoring the disconnect between short-term pricing and long-term network health.
The lawsuit alleges that the executives misappropriated Swan's intellectual property to launch a competing company backed by Tether.
According to CryptoQuant founder Ki Young Ju, Chinese mining pools control 55% of the network hashrate, while US mining pools control 40%.
Hut 8 has laaunched its GPU-as-a-service business to tap into the AI growth potential. The Bitcoin miner said it partnered with Hewlett Packard Enterprise and AdvizeX to launch the 1,000 Nvidia H100 GPUs cluster. Hut 8 eyes revenue diversification and long term growth with this AI bet. Hut 8, an energy infrastructure provider and top […]
The post Hut 8 eyes AI push with launch of GPU-as-a-service program appeared first on CoinJournal.
Bitfarms Ltd. and Riot Platforms Inc. announce a settlement agreement ahead of the Special Meeting of Bitfarms Shareholders, with significant changes to the Board of Directors. (Read More)
The entity still owns almost $80 million in BTC.
China remains a major player in the Bitcoin mining industry despite imposing a blanket ban on cryptocurrencies in 2021.
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