Bitcoin’s transaction activity has cooled amid the recent lull in price action – and that’s hurting miners’ earnings.
Bitcoin Miner Producer Ebang Blames Coronavirus for 50% Slump in Revenue
Nasdaq-listed bitcoin miner manufacturer Ebang said the pandemic had disrupted its supply chain and led to a significant drop in revenue.
Bitcoin Miner Supply Sent to Exchanges Fell to 12-Month Lows in Q2 2020
Bitcoin miners, following the law of supply and demand, curtailed their supply to exchanges to the lowest level in 12 months during the second quarter.
Bitcoin Miners Saw 23% Revenue Drop in June
Bitcoin mining revenue dropped 23% in June to approximately $380 million.
Bitcoin Miner Hut 8 Closes Better-Than-Expected Equity Round at $8.3M
Hut 8 says its new funding is going towards increasing the bitcoin miner’s total capacity by a fifth.
Market Wrap: Bitcoin Traders Expect Big Move as Volatility Plummets
Bitcoin volatility drops to historic lows as the cryptocurrency stays just above $9,000.
Chinese Bitcoin Mining Giant Ebang Is Launching an Offshore Exchange
Ebang, the world’s second-largest producer of bitcoin mining equipment, hopes an exchange could double total revenue by 2022.
Outflow of Bitcoin From Miners at Lows Not Seen Since 2010
Miner outflows of bitcoin have dropped to decade lows, with analysts saying a hoarding mentality and a drop in issuance after the halving are responsible.
Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish
The conventional wisdom could be challenged because miners mainly operate on cash, meaning they need to liquidate their holdings almost daily to fund the cost of mining.
Chinese Chip Maker With a Hand in Crypto Mining Plans $2.8B IPO
Hong Kong-listed SMIC plans to raise $2.8 billion via an initial public offering on the Shanghai Stock Exchange, in hopes of advancing its chip making practices. The company is working with Canaan Creative to build a new crypto miner.
Market Wrap: Bitcoin’s Price Up 12% Since the Halving
Bitcoin has seen double-digit gains in price since the halving. Institutional investors doing more trading in crypto options on CME is a sign of continued interest.
Market Wrap: Some Miners Face an Uncertain Future Despite Rising Bitcoin Price
A slowly rising bitcoin price might not help some miners run profitable operations now that the halving is in the past.
CEO Says BlockFi Is Lending to Crypto Miners as Other Providers Pull Back
Crypto lending platform BlockFi has begun extending credit to miners as competition for their business has eased during the coronavirus crisis.
Miners Are Selling More Bitcoin Than They Are Mining
While bitcoin looks set to prolong its recent bullish moves, those responsible for making new bitcoin have increased their selling.
Customized Crypto Options Seeing Record Demand From Funds, Miners, Says GSR
The Hong Kong-based firm is seeing soaring interest in its customizable options contracts amid high price volatility.
For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs
To the operators of high-speed computers used to mine for bitcoin, the halving looks more like a doubling — of costs.
Bitcoin News Roundup for Feb. 6, 2020
With bitcoin headed back up towards $10,000, Markets Daily is back with a quick, time saving bitcoin-focused news roundup.
Human-Trafficking Expert Urges US Congress to Regulate Crypto Miners
A former U.S. Treasury official urged Congress to regulate cryptocurrency miners in order to fight human trafficking.
All of It Dark, All of It P2P: After the Binance Hack, Bitcoin Doesn’t Cut It
That Binance could have colluded with miners to roll back hack transactions means bitcoin is not resistant enough to censorship, says Amir Taaki.
Bitmain Announces New, More Efficient 7nm Bitcoin Mining Chip
Bitmain Technologies has announced a new 7nm bitcoin mining processor that it says offers a big boost in energy efficiency.