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[metamoonshots]

[ad_1] Famend Bitcoin Software-Particular Built-in Circuits (ASIC) producer Bitmain has made a big announcement by unveiling its newest air-cooled bitcoin miner, the Antminer T21, set to hit the marketplace for transport in January 2024. ANTMINER T21 World Premiere！ An enormous hit of T21！ 19J/T 190T Adjustable from NEM to HEM Tolerant to ambient temp. 45°C！ Versatile cost Value safety Contact BD for extra particulars pic.twitter.com/6HVWC1NsEc— BITMAIN (@BITMAINtech) October 25, 2023 The worldwide premiere of the Antminer T21 occurred on the Blockchain Life 2023 Forum in Dubai, the place Bitmain held the title of “diamond sponsor.” This new miner, introduced through Bitmain’s official Twitter account on October 26, marks a milestone on the planet of bitcoin mining hardware. Antminer T21 Options What units the Antminer T21 aside is its means to effectively function in high-temperature environments, with a capability to resist ambient temperatures of as much as 45 levels Celsius, according to the corporate’s head of selling, Xmei Lin. The Antminer T21 isn't just an innovation in cooling expertise; it additionally boasts spectacular technical specs. This mining system, scheduled to start transport in January 2024, is designed for mining proof-of-work (PoW) digital property using the SHA256 mining algorithm. This contains Bitcoin and its forked counterparts, Bitcoin Money and Bitcoin SV (BSV). The Antminer T21 affords a considerable computing energy of 190 terahashes per second, coupled with an power effectivity ratio of 19 joules per terahash. Supply: X Bitmain Miner T21’s Safety Plan To boost the attraction of the Antminer T21, Bitmain has launched a singular providing to potential consumers. Clients buying the T21 have the choice to enroll in Bitmain’s value safety plan, designed to safeguard miners from antagonistic value actions. This safety plan, accessible till November 25, 2023, offers protection for one, three, or six months, relying on the shopper’s choice. Ought to the BTC value fall under a predetermined threshold inside the protected interval, clients will obtain compensation in money, with fast cost upon the triggering occasion. A Flood of Miners The introduction of the Antminer T21 highlights Bitmain’s commitment to delivering cutting-edge expertise to the mining neighborhood. This comes in opposition to the backdrop of an ever-evolving ASIC mining business that has seen new entrants like Canaan, MicroBT, and Bitfury. Canaan, specifically, was one of many pioneers in introducing bitcoin mining ASICs again in 2013, revolutionizing hashing energy in comparison with conventional GPU and CPU setups. Apparently, on October 26, Canaan additionally launched its sustainable A1466 and A1466I miners within the Center East, that includes liquid-cooled and air-cooled choices. Regardless of the innovation and competitors inside the ASIC mining sector, it's dealing with pricing challenges. The value per terahash of ASIC miners declined considerably, dropping by greater than 80% from its peak in 2021 as new miners flooded the market. The publish Bitmain Launches Antminer T21, Ready to Ship in January 2024 appeared first on Bitcoin News. [ad_2]

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[joshuajacksonlyblog]

Bitmain Loses Bitcoin Mining Pool Dominance Amid Internal Issues

Antpool and BTC.com have lost a bit of their old glory, significantly shrinking the share of Bitcoin block rewards on a daily and weekly basis. The BTC mining pools, headed by Bitmain, are still among the top four miners but have ceded their leadership to F2Pool and Poolin.

Bitmain Lost Bitcoin Mining Leadership in Three Months

In the past three months, while the overall hash rate for Bitcoin’s network kept setting a series of mining records, Bitmain’s pools lagged behind.

What a big difference 3 months make to @BITMAINtech with all the drama. In August, I looked at Bitcoin's hashrate distribution. Bitmain was the number 1 & 2 largest mining pool (https://t.co/SXrePJYWQz & AntPool). Now they have been overtaken by @f2pool_official & @officialpoolin pic.twitter.com/kAC4IcrbUJ

— Bobby Ong (@bobbyong) October 31, 2019

The lag of the two pools is happening as bitcoin is trading at prices way above breakeven for most Chinese miners. As the exact composition and hashing power of BTC mining pools is reported by different methods, it is hard to determine what happened to the two leading miners.

A pool is also not dedicated to a single bitcoin mining operator, and anyone can join it. Thus, mining farms may switch affiliation. A larger pool means a higher chance of winning the ever more scarce block rewards, and receiving a fraction of BTC for the mining effort.

Antpool Loses Steam

Antpool has seen a slow but steady decline in bitcoin block discovery over the years. Still, the pool has discovered more than 45,000 blocks in the past, picking up the pace in 2015.

BTC.com seems to be in better shape, with a share of around 14.3% of blocks discovered. The bitcoin mining pool often takes the second position in daily block discovery, right after F2Pool, as there is an element of chance to solving headers. The significant decline in BTC mining power was connected to Bitmain’s leadership drama. On Tuesday, Jihan Wu sent out a dramatic message to completely oust Zhan “Micree” Ketuan from the organization, even warning to block him from physically accessing the Bitmain headquarters.

In the past year, Bitmain has suffered from the failure of its IPO. Despite the market recovery, sales remained weak, and competitors were on the heels of the leading ASIC producer. Bitcoin mining rigs from Innosilicon, and Canaan Mining continued to take over the market share.

Bitmain is still expanding its mining operations, with a recently opened facility in Texas.

#Bitmain completes construction of 50MW mining facility in #Rockdale #Texas. (https://t.co/Sztme8Fokf) The project is set to create jobs in the area and plans to work with the local district to provide education and training on blockchain technology and data center operations. pic.twitter.com/z5W7b7eNei

— Antminer_main (@Antminer_main) October 21, 2019

But it remains to be seen what the effect of the new mining farm will be. Additionally, Bitmain has announced the shipments of the Antminer S17 series at the beginning of October, and the new machines may dramatically sway the distribution of bitcoin hashing power.

#Antminer @BITMAINtech #WDMS2019 officially launches the new Antminer S17+ with a hash rate of 73 TH/s and power efficiency of 40 J/TH + 10% & Antminer T17+ with a hash rate of 64 TH/s and power efficiency of 50 J/TH + 10% (Selling time: Oct. 11 19:00 GMT+8) pic.twitter.com/7NvZqC7p42

— Antminer_main (@Antminer_main) October 9, 2019

The Bitcoin overall hash rate reached 97 quintillion hashes per second, with the potential for new records as mining heads to the final stretch before the halving of the reward.

What do you think about Bitmain’s role in bitcoin mining? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter: @bobbyong, @Antminer_main

The post Bitmain Loses Bitcoin Mining Pool Dominance Amid Internal Issues appeared first on Bitcoinist.com.

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Research: Bitcoin Miners are Widely Profitable; Is This Bullish?

Throughout the course of the long crypto winter that extended throughout 2018 and into the early months of 2019, Bitcoin (BTC) miners faced deep losses that led many of them to shut off their rigs, which was seen by many as being detrimental to the crypto’s network health.

New data suggests that the price gains incurred throughout the first half of 2019 have now made Bitcoin mining profitable, but this may not necessarily be a bullish thing for BTC’s price.

Bitcoin Miners Incur Widespread Profitability 

Bitcoin’s price has risen significantly throughout the first half of 2019, running from lows of nearly $3,000 to highs of just below $14,000.

Although BTC has dropped significantly from its year-to-date highs, it is important to note that it is still up significantly from its 2019 lows, which has been a great thing for the cryptocurrency’s miners.

Alex Kern, an analyst at Fundstrat Global Advisors, explained in a recent tweet that most popular mining rigs, including some older ones, are currently profitable, as the total cost to mine one Bitcoin is roughly between $7,300 and $8,500.

“From today’s @fundstrat Bitcoin mining update – @BITMAINtech Antminer S9’s cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh) – Older and newer generation mining rigs are profitable with BTC at current levels,” he explained.

From today's @fundstrat Bitcoin mining update…

– @BITMAINtech Antminer S9's cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh)

– Older and newer generation mining rigs are profitable with BTC at current levels pic.twitter.com/Pe7POApyp2

— Alex Kern (@AlexKernA) September 9, 2019

Is Profitable Mining Bullish for BTC?

Although having widely profitable miners may contribute to Bitcoin’s network health, it is not necessarily a bullish thing for BTC’s price, as miners are likely selling their profitably mined crypto in order to fund their capital expenses.

Thomas Lee, the co-founder of Fundstrat, spoke about the impact that profitable miners could have on BTC’s price, explaining that it is highly likely that they sell their profitably mined crypto in order to fund their expenses, which could mean that they are putting some downwards pressure on its price.

“Latest mining report from our quant team.  Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k.  Miners profitable and apparently some older rigs are also profitable. Their thesis remains if miners making $$$, they are BTC sellers to fund capex,” he said.

Latest mining report from our quant team. Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k. Miners profitable and apparently some older rigs are also profitable.

– Their thesis remains if miners making $$$, they are BTC sellers to fund capex https://t.co/TZaEKHehRy

— Thomas Lee (@fundstrat) September 9, 2019

Regardless of whether or not miners are dumping their Bitcoin onto the markets, their profitability is critical for promoting long-term fundamental growth.

Featured image from Shutterstock.

The post Research: Bitcoin Miners are Widely Profitable; Is This Bullish? appeared first on NewsBTC.

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[michaelbennettcrypto]

Research: Bitcoin Miners are Widely Profitable; Is This Bullish?

Throughout the course of the long crypto winter that extended throughout 2018 and into the early months of 2019, Bitcoin (BTC) miners faced deep losses that led many of them to shut off their rigs, which was seen by many as being detrimental to the crypto’s network health.

New data suggests that the price gains incurred throughout the first half of 2019 have now made Bitcoin mining profitable, but this may not necessarily be a bullish thing for BTC’s price.

Bitcoin Miners Incur Widespread Profitability 

Bitcoin’s price has risen significantly throughout the first half of 2019, running from lows of nearly $3,000 to highs of just below $14,000.

Although BTC has dropped significantly from its year-to-date highs, it is important to note that it is still up significantly from its 2019 lows, which has been a great thing for the cryptocurrency’s miners.

Alex Kern, an analyst at Fundstrat Global Advisors, explained in a recent tweet that most popular mining rigs, including some older ones, are currently profitable, as the total cost to mine one Bitcoin is roughly between $7,300 and $8,500.

“From today’s @fundstrat Bitcoin mining update – @BITMAINtech Antminer S9’s cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh) – Older and newer generation mining rigs are profitable with BTC at current levels,” he explained.

From today's @fundstrat Bitcoin mining update…

– @BITMAINtech Antminer S9's cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh)

– Older and newer generation mining rigs are profitable with BTC at current levels pic.twitter.com/Pe7POApyp2

— Alex Kern (@AlexKernA) September 9, 2019

Is Profitable Mining Bullish for BTC?

Although having widely profitable miners may contribute to Bitcoin’s network health, it is not necessarily a bullish thing for BTC’s price, as miners are likely selling their profitably mined crypto in order to fund their capital expenses.

Thomas Lee, the co-founder of Fundstrat, spoke about the impact that profitable miners could have on BTC’s price, explaining that it is highly likely that they sell their profitably mined crypto in order to fund their expenses, which could mean that they are putting some downwards pressure on its price.

“Latest mining report from our quant team.  Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k.  Miners profitable and apparently some older rigs are also profitable. Their thesis remains if miners making $$$, they are BTC sellers to fund capex,” he said.

Latest mining report from our quant team. Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k. Miners profitable and apparently some older rigs are also profitable.

– Their thesis remains if miners making $$$, they are BTC sellers to fund capex https://t.co/TZaEKHehRy

— Thomas Lee (@fundstrat) September 9, 2019

Regardless of whether or not miners are dumping their Bitcoin onto the markets, their profitability is critical for promoting long-term fundamental growth.

Featured image from Shutterstock.

The post Research: Bitcoin Miners are Widely Profitable; Is This Bullish? appeared first on NewsBTC.

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[tinayang886]

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[detikdax-blog]

5 Bitcoin Billionaires Headline Daftar Hurun Rich: Bagaimana Mereka Membuat Kekayaan Crypto Mereka

The Hurun Rich List global dirilis minggu ini, menampilkan lima milyarder cryptocurrency.  Hurun juga menyebut blockchain sebagai "industri baru yang tumbuh paling cepat" di dunia, meskipun pasar beruang epik memusnahkan nilai pasar crypto pada tahun 2018. Lima miliarder blockchain termasuk individu dari Ripple, Coinbase, Binance, dan Bitmain. Mari kita lihat bagaimana mereka mengumpulkan kekayaan mereka.

1. MICREE ZHAN KETUAN (BITMAIN) - $ 2,7 MILIAR

Salah satu pendiri Bitmain, Micree Zhan Ketuan | Sumber: Twitter Micree Zhan Ketuan adalah salah satu pendiri raksasa penambangan cryptocurrency Bitmain . Dia memegang 36,58 persen saham di perusahaan itu dibandingkan dengan 20,5 persen rekan pendiri Wu Jihan. Zhan Ketuan dikreditkan karena menjalankan aspek teknis Bitmain sementara Wu adalah wajah publik perusahaan.

BITMAIN ✔@BITMAINtech As we move into 2019, we, at Bitmain, have been doing a bit of reflecting on what a year 2018 has been, as well as what we expect this coming year. Read on:https://blog.bitmain.com/en/bitmain-following-a-busy-2018-what-can-we-expect-in-2019/ … 141 12:00 AM - Jan 21, 2019 Twitter Ads info and privacy

Bitmain: Looking back at 2018, and looking forward to 2019

As we move into this new year, here at Bitmain we’ve been doing a bit of reflecting on what a year 2018 has been, as well as what we expect this coming year. blog.bitmain.com 107 people are talking about this Bitmain mengoperasikan dua kolam penambangan bitcoin terbesar di dunia, BTC.com dan Antpool. Itu juga pemasok terbesar peralatan pertambangan bitcoin. Bitmain dijadwalkan untuk meluncurkan penawaran umum perdana (IPO) tahun lalu dengan nilai perusahaan sebesar $ 14 miliar . Namun, berkat pasar beruang yang berkepanjangan, IPO sekarang ragu - ragu dan valuasinya sekarang mungkin jauh lebih rendah.

2. CHRIS LARSEN (RIPPLE) - $ 1,5 MILIAR

Chris Larsen ikut mendirikan Ripple dengan Jed McCaleb pada tahun 2012. Dia memiliki saham setidaknya 5,2 miliar XRP , bernilai sekitar $ 1,6 miliar pada saat penulisan. (Daftar Kaya Hurun melaporkan nilai yang lebih rendah karena foto pada Januari 2019). Selain kepemilikan XRP yang sangat besar, ia memiliki 17% saham di Ripple, yang bernilai $ 410 juta pada tahun 2018. Larsen sejak itu menyerahkan gelar CEO kepada Brad Garlinghouse tetapi tetap terlibat dalam kegiatan Ripple.

3. WU JIHAN (BITMAIN) - $ 1,5 MILIAR

Salah satu pendiri Bitmain, Jihan Wu (atau Wu Jihan). | Sumber: CoinGeek / YouTube Seperti disebutkan di atas, Wu Jihan (atau Jihan Wu) adalah mitra Zhan Ketuan di Bitmain, dengan saham yang sedikit lebih kecil di perusahaan. Meskipun Wu Jihan memiliki kekayaan besar, perusahaannya Bitmain berada di bawah tekanan ekstrem baru-baru ini. Bitmain melaporkan kerugian $ 500 juta pada kuartal ketiga 2018 karena profitabilitas penambangan bitcoin berubah menjadi nol.

4. BRIAN ARMSTRONG (COINBASE) - $ 1,3 MILIAR

CEO Coinbase Brian Armstrong. | Sumber: TechCrunch / Flickr Brian Armstrong adalah salah satu pendiri Coinbase - mungkin pertukaran cryptocurrency paling terkenal di AS. Platform baru-baru ini menghargai dirinya sendiri pada $ 8 miliar setelah putaran penggalangan dana Seri E. Sekarang memiliki lebih dari 20 juta pengguna. Armstrong langsung menjadi miliarder setelah putaran investasi selesai.

Brian Armstrong ✔@brian_armstrong 1/ Today is a big day for Bitcoin, as it marks 10 years since the Genesis Block. Some people think I don’t like to talk about Bitcoin (

), but today I have a few words to say 3,149 2:25 AM - Jan 4, 2019 Twitter Ads info and privacy 848 people are talking about this

5. ZHAO CHAOPENG (BINANCE) - $ 1,3 MILIAR

Pendiri Binance, CZ, menggunakan bitcoin jauh sebelum booming 2017. | Sumber: REUTERS / Darrin Zammit Lupi Kisah Binance legendaris di dunia cryptocurrency. Pertukaran crypto datang entah dari mana di 2017 untuk dengan cepat menjadi yang terbesar di planet ini.

CZ Binance ✔@cz_binance  · Dec 21, 2018 Reminds me of an old joke. “Q: how much money do you have? Me: I am a multi millionaire thanks to crypto. Q: wow, how did you do that? Me: I was a billionaire.” Real joke now. Lol...

CZ Binance ✔@cz_binance But I also became a billionaire thanks to crypto. 229 12:12 PM - Dec 21, 2018 Twitter Ads info and privacy 28 people are talking about this Tetapi Zhao "CZ" Chaopeng (atau Changpeng Zhao) pergi "all-in" pada bitcoin jauh lebih awal dari itu. Dia menjual rumahnya pada tahun 2014 dan memasukkan semua uangnya ke dalam bitcoin. Bitcoin kemudian kehilangan lebih dari setengah nilainyasebelum pulih. CZ adalah penipu dan itu terbayar. Pada 2017, ia meluncurkan penawaran koin awal (ICO) untuk Binance pertukaran ini. CZ mengumpulkan $ 15 juta dalam beberapa minggu. Saat ini, koin binance memiliki kapitalisasi pasar $ 1,4 miliar.

BLOCKCHAIN: "INDUSTRI BARU YANG TUMBUH TERCEPAT"

Dengan merilis Daftar Kaya Global, Hurun menyebut blockchain sebagai "industri baru yang tumbuh paling cepat" di planet ini. Semua ini terlepas dari pasar beruang yang berkepanjangan yang memusnahkan $ 692 miliar dari pasar crypto pada puncaknya. Ketua Laporan Hurun Rupert Hoogewerf menjelaskan: “Sementara nilai crypto mungkin anjlok pada tahun lalu, beberapa bisnis mulai bermunculan. Banyak miliarder dari sektor lain sekarang mulai berinvestasi ke dalam teknologi blockchain. " Ada mantan miliarder crypto nyata yang hilang dari daftar ini. Si kembar Winklevoss mengumpulkan bitcoin senilai lebih dari satu miliar dolar pada puncak booming crypto. Sejak itu mereka turun kembali dengan nilai bitcoin. Matt Mellon, seorang investor XRP awal, dilaporkan memegang $ 1 miliar dalam crypto sebelum gelembung itu pecah. Berapa lama sebelum kita melihat triliunaire cryptocurrency pertama? Read the full article

[bowsetter]

Anonymous Security Researcher Uncovers Exploit in Bitmain’s Bitcoin Miner S15

Developer James Hilliard, best known for his Bitcoin Improvement Proposal #91 (the BIP which activated SegWit and prevented SegWit2x) and the CGMiner program, discovered a vulnerability in Bitmain’s Antminer S15 firmware. The vulnerability was then turned into an exploit by an anonymous security researcher. Hilliard has publicly demonstrated the exploit in action: @BITMAINtech tried and failed to lock down the S15 firmware, I identified the vulnerability and @00whiterabbit wrote/tested the attack code. Once @BITMAINtech complies with the GPL licenses for the firmware I will disclose the vulnerability to them so that they can fix it. pic.twitter.com/zwsAaPQjRL — James Hilliard (@james_hilliard)

The post Anonymous Security Researcher Uncovers Exploit in Bitmain’s Bitcoin Miner S15 appeared first on CCN

source https://www.ccn.com/anonymous-security-researcher-uncovers-exploit-in-bitmains-bitcoin-miner-s15 READ MORE http://bit.ly/2TVflTg

[bestblockchainby-blog]

Bitmain представила новый 7-нм чип и майнеры Antminer S17 и T17

Крупнейший производитель оборудования для майнинга Bitmain Technologies (@BITMAINtech) анонсировала новый 7-нанометровый процессор для майнинга, обладающий новым уровнем энергоэффективности, реализованном в новых майнерах Antminer S17 и T17. Новый ASIC (application-specific integrated circuit, специализированная интегральная схема) чип имеет маркировку BM1397. Он обеспечит повышение производительности и энергоэффективности для майнинга криптовалют на основе алгоритма SHA256 (proof-of-work), таких как биткоин (BTC) и Bitcoin Cash (BCH). Микросхема изготовлена с использованием 7-нм технологического FinFET-процесса от поставщика микросхем Bitmain, компанией Taiwan Semiconductor Manufacturing Company (TSMC). Второе поколение 7-нм чипов BM1397 будет потреблять меньше электроэнергии, чем предыдущие предложения Bitmain. Соотношение энергопотребления и вычислительной мощности (энергоэффективность) составит «всего 30Дж/Тх», согласно анонсу, размещенному в понедельник. Из анонса Bitmain: По сравнению с предыдущим 7-нм чипом Bitmain BM1391 повышена эффективность энергопотребления на 28,6%. Чтобы добиться этого, команда разработчиков Bitmain тщательно разработала дизайн чипа, для оптимизации его архитектуры, схемы и экономичности. Новая ASIC-микросхема будет представлена в новых устройствах для майнинга Antminer S17 и T17 — подробные характеристики которых, по словам Bitmain, будут представлены позднее. Напомним, что в ноябре прошлого года производитель майнинг-оборудования представил Antminer S15 и T15 — оба оснащены ASIC-чипами BM1391. В прошлом году Bitmain также выпустил ASIC-майнеры для криптовалют Zcash и Эфириум. Разработка побудила сообщество разработчиков Эфириума, договориться в январе о внедрении нового алгоритма ProgPoW, который ограничил бы ASIC-майнинг в сети. Однако, в начале этого месяца, ProgPoW был отложен в целях необходимости проведения тестирования для оценки эффективности метода. Read the full article

[coin-river-blog]

January 15, 2019 12:05 AM

Bitmain’s woes continue with layoffs and a muddled suspension that leaves behind a skeleton crew.

The mining giant Bitmain has suspended operations at its mining facility in Rockdale, Texas, according to a report from Texas Public Radio. When (and if) Bitmain will resume mining activities is up in the air.

Bitmain announced the Rockdale mining facility in August 2018, setting up in an Alcoa plant that had been used to smelt aluminum up until September 2008. At the time, Bitmain and the Rockdale Municipal Development District called the move a $500+ million investment, and anticipated that the new facility would bring in 400 local jobs within its first two years, with 137 "spin-off" jobs to come.

Milam County judge Steve Young issued a statement on January 10 saying that all Bitmain employees, apart from two engineers and the director of human relations, had been laid off, shrinking the already small staff of 15 employees. Young also estimated that the company had brought in 7,000 to 8,000 servers to the Alcoa plant, stating Bitmain had told him they would move forward with a "less ambitious facility."

When Bitmain plans to move forward with the less ambitious facility is unclear. The company spokesperson who talked with Young explained that the "right-sized team" would be able to "re-start the project at small scale anytime."

How this will impact the 10-year tax break on county taxes on real and personal property also remains to be seen. The tax break was meant to be an incentive for Bitmain to deliver on promised jobs and investment numbers, according to Texas Public Radio.

The Rockdale layoffs are the latest bad news in a string of Bitmain-related misfortune. In December 2018, it was believed that Bitmain would lay off 50 percent of its employees. In the same month, the company closed its artificial intelligence research and development center, Bitmaintech Israel, laying off 23 employees, including Bitmain's vice president for sales and marketing, Gadi Glikberg, who was head of the R&D center.

Just last week, Bitmain co-founders and co-CEOs Jihan Wu and Micree Zhan stepped down from their chief executive positions, reportedly to be replaced by Haichao Wang, the company's director of product engineering. The move came just months after it was reported that Wu would reposition and continue with the company as a co-director.

Nicholas Ruggieri studied English with an emphasis in creative writing at the University of Nevada, Reno. When he’s not quoting Vines at anyone who’s willing to listen, you’ll find him listening to too many podcasts, reading too many books, and crocheting too many sweaters for his dogs, RT and Peterman.

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[joshuajacksonlyblog]

Research: Bitcoin Miners are Widely Profitable; Is This Bullish?

Throughout the course of the long crypto winter that extended throughout 2018 and into the early months of 2019, Bitcoin (BTC) miners faced deep losses that led many of them to shut off their rigs, which was seen by many as being detrimental to the crypto’s network health.

New data suggests that the price gains incurred throughout the first half of 2019 have now made Bitcoin mining profitable, but this may not necessarily be a bullish thing for BTC’s price.

Bitcoin Miners Incur Widespread Profitability 

Bitcoin’s price has risen significantly throughout the first half of 2019, running from lows of nearly $3,000 to highs of just below $14,000.

Although BTC has dropped significantly from its year-to-date highs, it is important to note that it is still up significantly from its 2019 lows, which has been a great thing for the cryptocurrency’s miners.

Alex Kern, an analyst at Fundstrat Global Advisors, explained in a recent tweet that most popular mining rigs, including some older ones, are currently profitable, as the total cost to mine one Bitcoin is roughly between $7,300 and $8,500.

“From today’s @fundstrat Bitcoin mining update – @BITMAINtech Antminer S9’s cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh) – Older and newer generation mining rigs are profitable with BTC at current levels,” he explained.

From today's @fundstrat Bitcoin mining update…

– @BITMAINtech Antminer S9's cash and total cost of mining 1 $BTC = $7300 and $8500 (assuming $0.06 / kWh)

– Older and newer generation mining rigs are profitable with BTC at current levels pic.twitter.com/Pe7POApyp2

— Alex Kern (@AlexKernA) September 9, 2019

Is Profitable Mining Bullish for BTC?

Although having widely profitable miners may contribute to Bitcoin’s network health, it is not necessarily a bullish thing for BTC’s price, as miners are likely selling their profitably mined crypto in order to fund their capital expenses.

Thomas Lee, the co-founder of Fundstrat, spoke about the impact that profitable miners could have on BTC’s price, explaining that it is highly likely that they sell their profitably mined crypto in order to fund their expenses, which could mean that they are putting some downwards pressure on its price.

“Latest mining report from our quant team.  Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k.  Miners profitable and apparently some older rigs are also profitable. Their thesis remains if miners making $$$, they are BTC sellers to fund capex,” he said.

Latest mining report from our quant team. Using S9 and $0.06/kWh, cash breakeven for $BTC mining is $7.3K vs price of ~$10k. Miners profitable and apparently some older rigs are also profitable.

– Their thesis remains if miners making $$$, they are BTC sellers to fund capex https://t.co/TZaEKHehRy

— Thomas Lee (@fundstrat) September 9, 2019

Regardless of whether or not miners are dumping their Bitcoin onto the markets, their profitability is critical for promoting long-term fundamental growth.

Featured image from Shutterstock.

The post Research: Bitcoin Miners are Widely Profitable; Is This Bullish? appeared first on NewsBTC.

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[brettzjacksonblog]

New Crypto Incentives From Binance Send BNB Skywards in 11% Pump

Very few crypto assets have made any major moves in 2019. One that has, and continues to do so, is Binance Coin which has cranked a further 11 percent today as the exchange announces a raft of investment incentives.

BNB Surges 11 Percent

One of the day’s top performing cryptocurrencies is Binance Coin. The exchange based asset has surged from $27.5 this time yesterday to $30.5 at the moment in an 11 percent pump. Daily volume has rocketed from under $200 million to over $350 million as the fomo amplifies on the world’s largest crypto exchange.

BNB price 24 hours – Coinmarketcap.com

This year’s progress has lifted the altcoin up the market capitalization charts to sixth place blitzing EOS and trumping Tether, which has also increased its supply to $4 billion. BNB could soon be bigger than Litecoin which is less than a billion away in terms of market cap. It did not even blip after the company brushed aside a 300 BTC attempt at extortion yesterday.

So far this year Binance Coin has been one of the top, if not the best performing altcoins with a surge of over 400 percent since January first. Litecoin comparatively has made half of that and has started to collapse following its halving earlier this week.

Big Updates From Binance

Binance boss Changpeng Zhao has been described as an ambassador for the crypto industry. With over 400,000 followers, he virtually lives on twitter and never misses an opportunity to shill the coin and his exchange. This week the feed has been a flurry of activity as a raft of announcements has flowed.

A couple of days ago there was an announcement about a partnership with Crypto.com and their integration into Binance Chain, an Ethereum rivaling token platform. According to CZ holders of BNB can earn up to 8% interest by using the crypto credit card.

In addition to #useBNB buy swiping an awesome looking credit card, you can now earn interest on #hodling BNB there too. Thanks to @cryptocom! https://t.co/OLmOwQUMoC

— CZ Binance (@cz_binance) August 6, 2019

Another new initial exchange offering has also just been announced on Binance Launchpad as it gears up to pump Perlin. The Singapore based startup behind a new blockchain protocol project is the eighth token Binance has promoted since the initiative started. According to the blurb, Perlin is developing a new high speed ‘Wavelet distributed ledger, built on a new and pioneering ‘leaderless proof of stake’ consensus mechanism’

#Binance Launchpad announces @PerlinNetwork token sale.

Perlin has secured major partnerships with organizations including the Singapore government & recently raised investments from Kakao Investments, @arringtonXRPcapl, & @BITMAINtech , among others.https://t.co/DkkfIQLQpi pic.twitter.com/OloHNymiO9

— Binance (@binance) August 7, 2019

Other developments from the world’s dominant crypto exchange include the enabling of margin trading for Canadians, and the addition of new native stablecoins for the Binance DEX. USD, GBP, AUD, CAD, and HKD stablecoins from TrustToken will be added to the DEX. Binance also just listed the BEP2 TrueUSD (TUSDB) token according to the official announcement.

“The launch of these currencies on Binance Chain will enable new fiat onramps to Binance DEX, greatly expanding the options for users to move between cryptocurrencies and bank accounts around the world.”

It is clear that CZ aims to turn Binance into the Facebook of crypto with world domination; this latest tweet confirms those ambitions;

“You can bet on @Binance if you focus on market share of exchanges today, or you can bet on @Binance_DEX if you think DEX will rule the land of the future. Or you can bet on $BNB, which will do fine if either of the above (plus many more eco-system projects) do well,”

Crypto traders are definitely betting on BNB today as the token continues to surge.

Image from Shutterstock

The post New Crypto Incentives From Binance Send BNB Skywards in 11% Pump appeared first on NewsBTC.

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[michaelbennettcrypto]

New Crypto Incentives From Binance Send BNB Skywards in 11% Pump

Very few crypto assets have made any major moves in 2019. One that has, and continues to do so, is Binance Coin which has cranked a further 11 percent today as the exchange announces a raft of investment incentives.

BNB Surges 11 Percent

One of the day’s top performing cryptocurrencies is Binance Coin. The exchange based asset has surged from $27.5 this time yesterday to $30.5 at the moment in an 11 percent pump. Daily volume has rocketed from under $200 million to over $350 million as the fomo amplifies on the world’s largest crypto exchange.

BNB price 24 hours – Coinmarketcap.com

This year’s progress has lifted the altcoin up the market capitalization charts to sixth place blitzing EOS and trumping Tether, which has also increased its supply to $4 billion. BNB could soon be bigger than Litecoin which is less than a billion away in terms of market cap. It did not even blip after the company brushed aside a 300 BTC attempt at extortion yesterday.

So far this year Binance Coin has been one of the top, if not the best performing altcoins with a surge of over 400 percent since January first. Litecoin comparatively has made half of that and has started to collapse following its halving earlier this week.

Big Updates From Binance

Binance boss Changpeng Zhao has been described as an ambassador for the crypto industry. With over 400,000 followers, he virtually lives on twitter and never misses an opportunity to shill the coin and his exchange. This week the feed has been a flurry of activity as a raft of announcements has flowed.

A couple of days ago there was an announcement about a partnership with Crypto.com and their integration into Binance Chain, an Ethereum rivaling token platform. According to CZ holders of BNB can earn up to 8% interest by using the crypto credit card.

In addition to #useBNB buy swiping an awesome looking credit card, you can now earn interest on #hodling BNB there too. Thanks to @cryptocom! https://t.co/OLmOwQUMoC

— CZ Binance (@cz_binance) August 6, 2019

Another new initial exchange offering has also just been announced on Binance Launchpad as it gears up to pump Perlin. The Singapore based startup behind a new blockchain protocol project is the eighth token Binance has promoted since the initiative started. According to the blurb, Perlin is developing a new high speed ‘Wavelet distributed ledger, built on a new and pioneering ‘leaderless proof of stake’ consensus mechanism’

#Binance Launchpad announces @PerlinNetwork token sale.

Perlin has secured major partnerships with organizations including the Singapore government & recently raised investments from Kakao Investments, @arringtonXRPcapl, & @BITMAINtech , among others.https://t.co/DkkfIQLQpi pic.twitter.com/OloHNymiO9

— Binance (@binance) August 7, 2019

Other developments from the world’s dominant crypto exchange include the enabling of margin trading for Canadians, and the addition of new native stablecoins for the Binance DEX. USD, GBP, AUD, CAD, and HKD stablecoins from TrustToken will be added to the DEX. Binance also just listed the BEP2 TrueUSD (TUSDB) token according to the official announcement.

“The launch of these currencies on Binance Chain will enable new fiat onramps to Binance DEX, greatly expanding the options for users to move between cryptocurrencies and bank accounts around the world.”

It is clear that CZ aims to turn Binance into the Facebook of crypto with world domination; this latest tweet confirms those ambitions;

“You can bet on @Binance if you focus on market share of exchanges today, or you can bet on @Binance_DEX if you think DEX will rule the land of the future. Or you can bet on $BNB, which will do fine if either of the above (plus many more eco-system projects) do well,”

Crypto traders are definitely betting on BNB today as the token continues to surge.

Image from Shutterstock

The post New Crypto Incentives From Binance Send BNB Skywards in 11% Pump appeared first on NewsBTC.

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[un-enfant-immature]

As Bitcoin sinks, industry startups are forced to cut back

Around this time last year, the price of Bitcoin hit an all-time high of nearly $20,000. Cryptocurrency enthusiasts everywhere boasted about the wealth 2018 would bring, initial coin offerings exploded and startups continued to pull in record amounts of venture capital. Fast-forward one year: Bitcoin is down 75 percent to a meager $3,700, sinking as quickly as its meteoric rise, and industry startups are paying the price.

The latest victim is Bitmain, a provider of bitcoin mining hardware that very recently submitted its IPO prospectus to the Stock Exchange of Hong Kong. The company confirmed to CoinDesk this week that cutbacks would begin imminently: “There has been some adjustment to our staff this year as we continue to build a long-term, sustainable and scalable business,” a spokesperson for Bitmain told CoinDesk . “A part of that is having to really focus on things that are core to that mission and not things that are auxiliary.”

Beijing-based Bitmain hasn’t clarified just how many of its employees will be impacted, though rumors — which Bitmain has since denied — on Maimai, a Chinese LinkedIn-like platform, suggest as many as 50 percent of the company’s headcount could be laid off. This news comes after the crypto mining giant confirmed it had shuttered its Israeli development center, Bitmaintech Israel, laying off 23 employees in the process.

Bitmain employs at least 2,000 people, up from 250 in 2016, according to PitchBook, as the company’s growth has skyrocketed.

The decreasing value of Bitcoin.

“The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation,” Bitmaintech Israel head Gadi Glikberg reportedly told his employees at the time of the layoffs.

Bitmain has raised more than $800 million in venture capital funding from Sequoia, Coatue Management, SoftBank and more. At a valuation of $12 billion, it quickly soared to become the most valuable crypto startup in the world, surpassing Coinbase, which itself garnered an $8 billion valuation this fall.

In its IPO filing, Bitmain reported more than $2.5 billion in revenue last year, up nearly 10x on the $278 million it claimed for 2016. As for the first half of 2018, Bitmain said it surpassed $2.8 billion in revenue. These are astonishing numbers, yes, but whether Bitmain can sustain this kind of momentum has been called into question, especially as it gears up to go public in what would be the largest crypto-related IPO to date. The crypto market, by nature, is unpredictable — a characteristic that’s less than favorable to public market investors.

Startups sacrifice staff

Meanwhile, Huobi Group, a crypto trading platform also headquartered in Beijing, is laying off a portion of its 1,000 employees, too, according to a report from the South China Morning Post.

Huobi, which is backed by Sequoia and ZhenFund, didn’t immediately respond to a request for comment.

Moreover, Brooklyn-based ConsenSys earlier this month confirmed it was laying off 13 percent of its 1,200-person staff. The company, active in the crypto ecosystem, incubates and invests in decentralized applications built on the Ethereum blockchain.

“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members,” ConsenSys founder and crypto billionaire Joseph Lubin wrote in a letter to employees regarding the layoffs.

Finally, Steemit, a distributed app designed to reward content creators, laid off 70 percent of its staff just days earlier, citing poor market conditions.

“We still believe that Steem can be by far the best, and lowest cost, blockchain protocol for applications and that the improvements that will result from this new direction will make it far better for application sustainability,” founder and chief executive officer Ned Scott wrote in a statement. “However, in order to ensure that we can continue to improve Steem, we need to first get costs under control to remain economically sustainable. There’s nothing that I want more now than to survive, to keep steemit.com operating, and keep the mission alive, to make great communities.”

Downsizing following periods of rapid growth — which many crypto startups experienced during the Bitcoin boom — is only natural, but can these businesses continue to endure periods of extreme volatility without crashing completely? One thing is certain: If the price of Bitcoin sinks further and further, “staff adjustments” at crypto startups large and small will be unavoidable.

WTF is happening to crypto?