The two parties agreed on a 90-day mutual exclusivity period on Feb. 21 to work toward a definitive agreement.
Bitcoin’s Halving May Be Here Sooner Than You Know (Again)
Several months ago, the halving was expected to take place on April 28; now it’s on track to land on April 18. Blame the surge in bitcoin’s price, which has attracted more mining power and sped up the network.
Luxor Looks to Help Bitcoin Miners Hedge Halving Risk With New Hashrate Futures
The bitcoin mining software and services company partnered with Bitnomial to offer cash-settled hashrate futures.
Bitcoin Miner Bitdeer Is ‘Differentiated’ From Peers, Shares Are Cheap: Benchmark
Stock appears undervalued given the wide gap between the company’s valuation and its growth prospects, the report said.
Sweden’s Central Bank Chief Wants ‘as Little Bitcoin as Possible’ in Country’s Financial System: Bloomberg
Sweden’s central bank governor said he wants “as little bitcoin as possible in the Swedish financial system.”
Bitcoin Miners Show Muscle Pushing Back Against Warrantless ‘Emergency’ Order
In another example of crypto using the courts to fight back against unwarranted regulatory interference, blockchain advocates stopped a U.S. statistics agency from issuing an “emergency” request for mining energy metrics.
Bitcoin Soared to an All-Time High. So Why Aren’t Miners Blasting Off, Too?
Investors are pouring money into spot ETFs while avoiding miners due to risks related to Bitcoin’s halving event.
Bitcoin Could Slide to $42K After Halving Hype Subsides, JPMorgan Says
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency’s price, the report said.
Bitcoin Miner Marathon’s Sales Beat Fails to Impress Wall Street
The company sold 56% of its mined bitcoin during the fourth quarter to fund operating costs.
Satoshi Anticipated Bitcoin Energy Debate in Email Thread With Early Collaborators
Satoshi saw an irony in the debate between economic conservation and conservation in an email thread with an early collaborator Martii ‘Sirius’ Malmi.
Bitcoin Miner Hut 8 Shares Slide as CEO Departs Weeks After Short-Seller Report
Former CEO Jamie Leverton is succeeded by president Asher Genoot.
The U.S. Government Seems to Be Closing in on Bitcoin Mining
U.S. Drilling Down on Crypto Miners’ Energy Use Draws Ire From Community
The Energy Information Administration (EIA) is starting a survey to track the electricity consumption of crypto miners in the U.S.
Celsius’ Bitcoin Mining Assets to Restart as New Firm Prepares to Go Public
The new company, Ionic Digital, expects to hit mining capacity of 12.7 exahash per second (EH/s).
Bitcoin Miner Selloff Poses “Negligible Impact”, Quant Argues
On-chain data shows the Bitcoin miners have been selling recently, but this quant has argued that this selloff shouldn’t have much impact on the market.
Bitcoin Miner Reserve Has Registered A Decline Recently
In a CryptoQuant Quicktake post, an analyst discussed the latest selling pressure that the miners have been putting on the market. The indicator of interest here is the “miner reserve,” which keeps track of the total amount of Bitcoin that the miners combined hold in their wallets right now.
This metric can naturally provide information about the collective behavior of these chain validators. Generally, the miners withdraw their coins from their reserve when they want to sell, so a decline in the indicator can potentially have bearish consequences for the asset.
A rise in the metric, on the other hand, may be bullish for the cryptocurrency’s price as it suggests the miners as a whole are in accumulation mode at the moment.
Now, here is a chart that shows the trend in the Bitcoin miner reserve over the past year:
As displayed in the above graph, the Bitcoin miner reserve has been on its way down since October, implying that this cohort has withdrawn a net amount of BTC from their wallets during this period.
This latest selloff from the miners has recently been a topic in the community, with many speculating about the possible bearish impact arising from it. The quant has a different opinion on the matter, however.
“The sell-off of Bitcoin reserves by miners, as discussed on X and various portals, is unfounded,” explains the analyst. To back this claim, the quant has pointed out the exact numbers involved here.
Before this selling started, the miner reserve had a value of around 1,84,997 BTC. Following the decline that the indicator has witnessed since then, the miners now hold about 1,833,222 BTC.
This represents a decrease of 12,755 BTC, which, although substantial on its own, doesn’t seem too large in the grand scheme of things, especially considering the size of the miner reserve itself. “The minimal amount of bitcoin sold has negligible impact on the market,” notes the analyst.
The above chart shows the data for the Bitcoin inflows and outflows being made by the miners. There have indeed been outflows taking place recently, which is why there has been talk of a selloff.
At the same time, the inflow transaction volume has also been at significant levels, making up for these outflows. This is the reason for the relatively small net decrease in the total miner reserve.
BTC Price
Bitcoin had recovered beyond the $43,000 mark earlier, but the asset has seen a setback during the past day as it has slipped back towards $42,500.
Bitcoin Miner GRIID Shares Extend Drop After Nasdaq Listing
GRIID commenced trading on the Nasdaq Global Market on Monday under the ticker symbol “GRDI” while continuing to trade on Cboe Canada under the same ticker.
Crypto-Linked Stocks Rise With Bitcoin as Analyst Says ‘Not The Time to Turn Bearish’
Miners such as Bitfarms (BITF), Hut 8 (HUT) and TeraWulf (WULF) were among the outperformers.
Swan Bitcoin Unveils Mining Unit as Parent Company Prepares to Go Public
The mining business aims to reach 8 EH/s mining power and already has 4.5 EH/s operational after starting the unit in the summer of 2023.
Bitcoin Miner Hut 8 Hits Out at Short-Selling Report
The report by short-selling firm JCapital Research led to HUT sliding more than 23% on Jan. 18.
Investment Firm With $1B Assets Looks to Invest in Bitcoin Mining With Fabiano Consulting
Deus X Capital partnered with Fabiano Consulting to provide funding and strategic advice to miners.