On July 4, 2024, the Bitcoin network experienced its second-largest difficulty reduction since the year’s start. The mining difficulty decreased by 5%, falling from 83.67 trillion to 79.5 trillion. Second Major Difficulty Reduction of the Year Hits Bitcoin Network Bitcoin’s mining difficulty dropped by 5% this week at block height 850,752 on July 4. This…
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Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National…
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Marathon Digital Holdings, Inc. released its unaudited bitcoin production and miner installation updates for June 2024. The company’s operational hashrate increased slightly, and its bitcoin holdings reached 18,536 BTC. Marathon Digital Reports June 2024 Bitcoin Production In June 2024, Marathon‘s (Nasdaq: MARA) average operational hashrate grew by 2% month-over-month to 26.3 exahash per second (EH/s).…
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The National Power Administration of Paraguay (ANDE) has surprised cryptocurrency mining operators by raising power fees by 14%, affecting the profitability of these activities. The rise have already caused the exit of a company that planned to invest over $400 million in the country due to the lack of clarity in the area. Paraguay Raises…
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National Power Administration (ANDE) employees have been accused of participating directly in setting up illegal bitcoin mining farms in Paraguay. According to local sources, seven engineers of the institution would have been installing bitcoin farms across the country as the prosecutor’s office is carrying out this investigation with ANDE’s cooperation. Seven ANDE Engineers Involved in…
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With bitcoin’s price declining 5% over the past week, miners have been experiencing reduced revenue as the hashprice has dropped to a level not seen since May. Currently, the hashprice, which is the estimated daily value of 1 petahash per second (PH/s), is below $50 and hovering just above $47 per PH/s. Declining Bitcoin Value…
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Bitdeer Technologies Group has signed a lease agreement with the Monroe County Port Authority to secure an additional 570 megawatts (MW) of power capacity. This expansion brings Bitdeer’s total global capacity to 2.5 gigawatts (GW). Bitdeer Expands Power Capacity With New Partnership in Ohio Bitdeer, a Nasdaq-listed company, has leased land at the Hannibal Industrial…
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A combination of speculators continuously opening new long positions and miners dumping נitcoin to pay for hardware upgrades caused the top cryptocurrency to plunge to $58,000, according to an onchain analyst. The analyst expects the top crypto asset to rebound once the ongoing “culling of weak miners” is complete. Speculators Contribute to Bitcoin’s Plunge According…
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The White House has rehired Carole House, who helped develop President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets, as Special Advisor for Cybersecurity and Critical Infrastructure Policy at the National Security Council. Previously, House worked at the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), leading efforts on cybersecurity and virtual currency…
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Bruno Vaccotti, Head of Public Affairs of Penguin, a bitcoin mining company, has referred to the existence of what he called “vulture contracts,” and its effects on developing mining operations in Paraguay. Vaccotti stated that large amounts of energy have been assigned through these contracts that have not been taken advantage of and are blocked…
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