Miner Hut 8 Reports Q2 Revenue Plunged 67% to $6.9 Million Due to Bitcoin Halving

Miner Hut 8 Reports Q2 Revenue Plunged 67% to $6.9 Million Due to Bitcoin Halving

Canadian miner Hut 8 Mining Corp has reported that second quarter revenue tumbled 67% to $6.9 million from $21.2 million a year ago, as Bitcoin’s supply cut in May forced production to decline. The Toronto Stock Exchange-listed company extracted just 795 bitcoin (BTC) in the April to June quarter, compared to 1,165 BTC in the preceding three-month period. However, Hut 8 posted a net profit of $2.1 million thanks to the revaluation of its bitcoin…

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US Federal Reserve Reveals Building a Digital Dollar Codebase With MIT

US Federal Reserve Reveals Building a Digital Dollar Codebase With MIT

The U.S. central bank has been working on creating a digital dollar, according to a recently published transcript from Federal Reserve Board Governor Lael Brainard. On Thursday, she told participants attending “San Francisco’s Innovation Office Hours” webcast, that the Fed has been “collaborating with researchers at the Massachusetts Institute of Technology (MIT)” toward building a CBDC codebase. The central bank cold wars have begun, as the United States clearly wants to compete with China’s upcoming…

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Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners for $23M

Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners for $23M

One of the earliest Nasdaq-listed cryptocurrency mining companies, Marathon Patent Group, announced a new agreement contract with the ASIC mining manufacturer Bitmain. According to the public company, Marathon has agreed to purchase 10,500 next-generation Antminer S-19 Pro models for $23 million. Marathon Patent Group wants to be the largest bitcoin mine in the United States and its recent acquisition of thousands of next-generation mining rigs may help fortify that goal. On Friday, Marathon announced a…

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Market Update: BTC Inches Toward $12K, ETH Jumps 12%, Report Says LINK May See ‘Rough Waters’

Market Update: BTC Inches Toward $12K, ETH Jumps 12%, Report Says LINK May See ‘Rough Waters’

Digital currency markets have increased significantly in value during the last 24 hours as the market capitalization of all 5,700+ coins is up over 2.4% on Friday. Bitcoin has been inching toward the $12k region again and ethereum touched a high over $442 a coin during the afternoon trading sessions. Crypto Market Cap Crosses $365 Billion The market valuation of all the crypto assets in existence is around $365 billion on Friday afternoon as a…

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Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran

Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran

During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate one of these regulated bitcoin mining farms in the oil-rich nation. The Cambridge Bitcoin Electricity Consumption Index or “Bitcoin Mining Map” attempts to visualize the geographic distribution of global Bitcoin…

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