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123-Year-Old Hydroelectric Plant Sees New Life Mining Bitcoin — Revenue 3x Higher Than Selling to the Grid
9.7.2021
On Thursday local reports from Mechanicville, the city located in Saratoga County, New York, say that an old hydroelectric plant constructed back in 1897 was almost dismantled, but today the plant is mining bitcoins. The Mechanicville facility is considered one of the oldest renewable energy plants...
8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims
5.7.2021
A total of 8,000 bitcoins belonging to Mirror Trading International (MTI) have been traced while an additional 29,000 bitcoins could soon meet a similar fate. The traced coins, which are valued at over $280 million (4 billion rand), represent a potential breakthrough for beleaguered MTI investors....
Feds Sell Seized Bitcoin From 2018 for $19 Million
5.7.2021
The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized...
Bitcoin Miner Greenidge Generation Plans to Develop South Carolina Mining Facility
4.7.2021
On Friday, the bitcoin mining operation Greenidge Generation Holdings announced the company is expanding to South Carolina in order to develop the firm’s next bitcoin mining facility. Greenidge details that the carbon-neutral Spartanburg facility will be ready in 2021 or early 2022. Bitcoin...
Dutch Professional Football Club AZ ‘Confident’ About Bitcoin’s Future, Keeps BTC on Balance Sheet
2.7.2021
Dutch professional football club AZ has formed an exclusive partnership with a regulated cryptocurrency exchange platform, Bitcoin Meester. Part of the sponsorship amount is paid in bitcoin and AZ will leave the cryptocurrency on its balance sheet during the collaboration. The club says it is...
As Bitcoin’s Yearly Inflation Rate Dips to 1.77%, BEA Data From May Shows US Inflation Fears Are Legitimate
28.6.2021
The U.S. economy is looking stagnant according to data stemming from the Bureau of Economic Analysis, as core personal consumption expenditures (PCE) jumped 3.4% in May from a year prior. The recent PCE spike is the highest year-over-year basis change since 1992 and the statistic is fueling...
Africrypt Directors Deny Allegations They Fleeced Clients as Doubts Over Actual Value Missing Bitcoins Grows
27.6.2021
According to new reports, Raees and Ameer Cajee, the two young directors of the recently collapsed crypto investment firm, Africrypt, have “categorically denied” allegations they fleeced clients. Instead, the brothers insist their company is the victim of a hack while also claiming that...
Bitcoin’s Hashrate Recoups Some Loss, 2021’s Largest Mining Difficulty Drop Expected Next Week
27.6.2021
On Saturday, Bitcoin’s SHA256 hashrate managed to climb back above the 100 exahash per second region after it slid to a low of 91 EH/s three days ago. Meanwhile, in five days the network’s mining difficulty change is approaching and it could see the difficulty drop over 20%. Bitcoin...
Mayoral Front-Runner Vows to Make New York City the Bitcoin Center in One Year
26.6.2021
The New York City mayoral candidate in the lead, Eric Adams, has promised that in one year New York will be “the center of all technology,” including “the center of bitcoins.” He will compete with Miami where Mayor Francis Suarez had a head start turning Miami into a bitcoin...
Mike Novogratz: Institutional Investors Will See Bitcoin’s Price Decline as Opportunity to Buy
24.6.2021
Galaxy Digital CEO Michael Novogratz says he is not nervous about bitcoin’s price falling, even when it falls below $30K. “The ecosystem is so much more mature. The amount of players that are moving in are so much more mature. Every single bank is working on their own crypto...
Bitcoin’s Hashrate Drops Below 100 Exahash, Observers Describe China’s ‘Great ASIC Exodus’
23.6.2021
Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below...
Mad Money’s Jim Cramer Dumps His Bitcoin Over China Mining Crackdown and Ransomware Concerns
22.6.2021
Mad Money host Jim Cramer said he has sold almost all of his bitcoin. He cited the Chinese government’s crackdown on bitcoin mining and concerns over bitcoin’s role in ransomware attacks. Jim Cramer Worried About China’s Mining Crackdown and Ransomware, Sold Almost All His Bitcoin...
Microstrategy Buys $489M Worth of Bitcoin — Company Now Holds More Than 100,000 BTC
21.6.2021
The independent, publicly-traded business intelligence company Microstrategy announced the acquisition of 13,005 bitcoin on Monday, at a purchase price of approximately $489 million in cash. The company’s CEO Michael Saylor revealed the latest purchase on Twitter, and the firm now has more...
$135K for December: Stock-to-Flow Creator Lays out Bitcoin’s ‘Worst Case Scenario for 2021’
21.6.2021
The pseudonymous creator of the popular stock-to-flow (S2F) bitcoin price model, Plan B, has published his “worst case scenario for 2021” predictions on social media on Sunday. The analyst says there’s also a “more fundamental reason” to why bitcoin prices have been...
Sichuan Mining Farms Begin to Shut Down — Seven-Day Stats Show Bitcoin’s Hashrate Plummeting
20.6.2021
The hashrate of the Bitcoin network has been steadily falling since June 14 and after Sichuan miners were told to prepare operation shutdowns. Sichuan is the second-densest province in China where most miners are located, according to data stemming from the University of Cambridge. Bitcoin’s...
Fidelity Executive Believes Bitcoin’s Price ‘Bottom Is in’ After Last Month’s Market Carnage
15.6.2021
On Monday, Jurrien Timmer, director of global macro at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his perspective on the current bitcoin prices. “In my view, it looks like the bottom is in,” the Fidelity executive explained, sharing...
Microstrategy Selling up to $1 Billion of MSTR Stock to Buy Bitcoin
15.6.2021
Microstrategy Inc. is selling up to $1 billion of its common stock, MSTR, with the aim to use some of the net proceeds to buy bitcoin. The Nasdaq-listed company also recently completed a $500 million secured notes offering and will use the proceeds to acquire bitcoins. Selling MSTR Stock to...
A Look at How Second Life’s Linden Dollars Helped Kickstart Bitcoin’s Value
14.6.2021
When people think about bitcoin’s past they sometimes refer to subjects like Mt Gox, the Silk Road, or the famous pizza transaction. Although, people often forget that the online virtual world Second Life played an important role during the Bitcoin network’s early years. In fact, some...
Stock-to-Flow Creator Says ‘$288K Still in Play,’ Mike McGlone Sees an ‘Ace up Bitcoin’s Sleeve’
12.6.2021
The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] still in play.” Meanwhile, data from the exchange Deribit shows there’s 425 bitcoin call options with a strike price of $200K set for December 31, 2021. Plan B Says:...
Senator Warren Calls Out Bitcoin’s Energy Consumption — Bitcoiners Bite Back
10.6.2021
U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are...