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Coinshares Report: Inside Bitcoin’s Cost Crunch—Why Mining Expenses Are Hitting Record Highs
31.10.2024
Coinshares’ Q3 mining report, led by researcher James Butterfill, highlights mounting costs and challenges impacting the bitcoin mining industry in 2024. How Bitcoin Mining Industry Giants Are Battling Rising Prices The Coinshares Q3 mining report, with research led by James Butterfill...
Binance Hiring 1000 People as Compliance Expenses Over $200 M
22.8.2024
Binance CEO, Richard Teng revealed that Binance is hiring 1,000 people this year as crypto compliance expenses turns…
Bitcoin mining expenses surge 168% amid capacity growth
20.8.2024
BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving
Crypto Wallet Provider SafePal Invests in Swiss Bank to Enable Banking Services for Crypto Users
7.3.2024
SafePal has made a strategic investment in Swiss bank Fiat24, aiming to provide users with a banking gateway to pay for expenses using digital assets and transfer funds to compliant banks.
The post Crypto Wallet Provider SafePal Invests in Swiss Bank to Enable Banking Services for Crypto Users...
Record-high Hash Rates and Mining Difficulty Pushed Miners to Sell BTC: Compass Mining
29.1.2024
Bitcoin miners were forced to liquidate a portion of their Bitcoin holdings to cover operational expenses due to the surge in hash rates and mining difficulty, according to data from Compass Mining. In its annual review of the Bitcoin mining ecosystem, Compass Mining highlighted that the older...
Russia Mulls Cryptocurrency Mining Disconnection Proposal
25.1.2024
Cryptocurrency miners might be disconnected for up to 500 hours per year in Russia, according to a proposal supported by the State Duma Energy Committee to tackle the energy deficit in some regions. The initiative would be an alternative to introducing special tariffs directed to miners that would...
Ethereum’s Vitalik Buterin Proposes Gas Limit Increase
13.1.2024
Amidst escalating transaction fees, Ethereum’s Vitalik Buterin has suggested a substantial gas limit increase, potentially boosting network capacity and reducing user expenses. Ethereum’s Vitalik Buterin Advocates for Higher Gas Limit to Improve Network Capacity Ethereum ecosystem...
US CPI Sees Slight Uptick in November, Fed Likely to Maintain High Rates
12.12.2023
In November, the U.S. Consumer Price Index (CPI), a principal measure of inflation, registered a modest rise of 0.1%, maintaining a consistent annual increase of 3.1%. This minor growth in prices reflects subtle economic shifts, with energy costs witnessing a marked reduction, in contrast to...
Argentina’s President Javier Milei Axes Ministries; ‘There Is No Money’
12.12.2023
Javier Milei, the president of Argentina, fulfilled his promise of reducing the number of ministries of the country in one of the first executive orders of his administration. The number of ministries was reduced to nine, as the state needs to cut expenses by making adjustments targeting...
Bitcoin Mining Profitability Soars as 2023 Nears End: Daily Earnings Hit New Highs
6.11.2023
As the year 2023 winds down with just 55 days remaining, bitcoin mining has surged in profitability, with a return of $76 in daily earnings for every petahash per second (PH/s) as of November 5. A mining device capable of 200 terahash per second (TH/s) with electricity expenses at $0.07...
Justin Sun’s HTX Reports $98 Million Profit in Q3 2023, Forecasts Strong Performance for Q4
27.10.2023
HTX , the crypto exchange formerly known as Huobi Global and owned by Chinese blockchain personality Justin Sun, has announced a profit of $98 million for the third quarter of 2023. In a recent post on X (formerly Twitter), Sun claimed that HTX generated $202 million in revenues during the quarter...
Crypto Infrastructure Provider Qredo Slashes Staff, Cuts Annual Expenses by 35% – Bear Market Continues?
5.9.2023
Crypto infrastructure provider Qredo has announced plans to reduce staff and expenses as it navigates the challenges posed by the ongoing bear market.
Qredo has let go of approximately 50 employees, including several senior executives, according to three sources familiar with the matter.
Among...
Blockchain Can Help Facilitate ‘Direct Connections’ Between Users and Hotels — Staynex’s Bernard Lau
24.8.2023
Using blockchain can potentially minimize intermediary expenses incurred by players in the hospitality industry because the technology makes it possible to facilitate direct connections between users and hotels, Bernard Lau, CEO of Staynex and LABS Group, has said. Lau, whose company focuses...
US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions
10.8.2023
The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in July, primarily propelled by housing expenses. This...
Bankrupt Celsius to spend $24M from GK8 sale on legal expenses
18.7.2023
After buying GK8 for $115 million in 2021, Celsius is selling it for $25 million, spending 96% of the sale proceeds on legal fees
Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses
4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...
How to build an emergency fund using budgeting apps
13.5.2023
Track your expenses and savings goals using budgeting apps to build your emergency fund
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
6.5.2023
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher...
What is profit and loss (PnL) and how to calculate it
5.5.2023
PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more!
China’s Inflation Rate Drops to Lowest in 18 Months
12.4.2023
The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite estimates suggesting they will remain unchanged. Post...