Cryptocurrency Mining | ForkLog

ForkLog 30 14.05.2024

Bernstein: Bitcoin’s Price Plateau Favors Public Miners

Bitcoin’s “flat” price movement post-halving benefits public miners. Major miners have opportunities to increase market share amid declining revenues. The sale of accumulated cryptocurrency reserves by miners remains possible. Analysts at Bernstein believe that Bitcoin’s “almost flat” price movement is ideal for public miners in their competition for hash rate. This is reported by The […]

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ForkLog 23 13.05.2024

Russia Proposes New Fines for Illicit Miners

The Expert Council under the Russian government has advocated for the implementation of remote energy consumption checks to combat illicit miners, according to Izvestia. In cases where actual power usage exceeds the amount declared in bills, it is proposed to fine violators, calculating the penalty based on industrial rates. Currently, bills for excessive electricity consumption […]

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ForkLog 29 12.05.2024

Bitcoin Mining Output Declines in April, Say Miners

In early May, mining companies reported their performance for the previous month. ForkLog compiled the key metrics in one article. Marathon Digital Holdings In April, Marathon Digital Holdings produced 850 BTC — a 21% increase from the same period last year. However, compared to March, the figure decreased by 5%. Data: Marathon Digital Holdings. According […]

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ForkLog 10 09.05.2024

Bitcoin Mining Difficulty Drops Nearly 6%

The latest recalibration has seen the difficulty of mining the leading cryptocurrency fall by 5.63% to 83.15 T. This decline marks the most significant drop since December 2022. Source: BTC.com. At that time, Bitcoin was in a bearish market phase, largely driven by a series of bankruptcies, including the collapses of Terra and FTX. Since […]

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ForkLog 31 09.05.2024

Canaan Unveils New Line of Bitcoin Miners

At the Bitcoin Asia 2024 exhibition, Canaan introduced its flagship next-generation device for mining the premier cryptocurrency — the A1566 from the Avalon A15 series. The Bitcoin miner delivers a hash rate of 185 TH/s with a power consumption of 3240 W. The device’s energy efficiency is 18.5 J/TH. The top model from the previous […]

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ForkLog 52 08.05.2024

Genesis Digital Assets Harnesses Flared Gas for Bitcoin Mining in Argentina

The American mining firm Genesis Digital Assets (GDA) has established a data centre in Argentina to mine the leading cryptocurrency using energy derived from burning associated gas. Initially, the local partner, energy company YPF.Luz, will power 1,200 ASIC miners from a thermal power plant operating on flared gas. The facility boasts a capacity of 7 […]

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ForkLog 8 06.05.2024

Miners’ Revenue Plummets to 2023 Lows

On May 3, the total revenue for miners fell to $26.38 million, marking the lowest level since October 2023, according to Blockchain.com. Source: Blockchain.com. At the time of writing, the figure had slightly risen to $30.9 million. On halving day on April 20, miners earned a record $107.75 million. This was largely driven by fees […]

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ForkLog 20 03.05.2024

US Senators Deem Iranian Crypto Mining a National Security Threat

Senators Elizabeth Warren and Angus King urged the administration of President Joe Biden to provide information on measures to combat Iran’s “unbridled evasion” of sanctions through cryptocurrency mining. “Iran legalized the digital asset mining industry in 2019. Over the past five years, Iran has earned millions of dollars from mining—a stable source of income that […]

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ForkLog 47 30.04.2024

Study Reveals Centralization of Bitcoin Mining Pools Under Single Custodian

Bitcoin mining has become perilously centralized, with a single entity holding coins mined by nine major pools, thereby controlling approximately 47% of the network’s hashrate, according to a report by BitMEX. The document references a post by a user named mononaut on X. According to his data, an unnamed custodian has amassed bitcoins from AntPool, […]

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ForkLog 9 30.04.2024

Alliance Resource Reports Holding 425 BTC

American public energy company Alliance Resource, known for its coal mining operations, has disclosed in its financial report that it holds 425 BTC. This was reported by CoinDesk. The company does not purchase the leading cryptocurrency but mines it using its own equipment and surplus generated energy. The coal giant, with a market capitalization of […]

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ForkLog 23 30.04.2024

CryptoQuant CEO Finds No Signs of Bitcoin Miner Capitulation

Ki Young Ju, founder and CEO of the analytics firm CryptoQuant, has found no signs of capitulation among Bitcoin miners, despite the recent halving that reduced block rewards.

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ForkLog 25 29.04.2024

Solo Miner Secures Bitcoin Block, Earning $218,500

On April 29, a solo miner with equipment hash rate of 120 PH/s added block #841,286 to the blockchain of the first cryptocurrency. This was reported by CKPool administrator Con Kolivas. Congratulations to miner 365ughTgK9Q7rXXTM7vubqy1awZ2AZJijP for solving the 282nd solo block solved at https://t.co/UWgBvLkDqc with a large ~120PH at the time (12PH average over a […]

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