Drops in Bitcoin’s hash rate coincided with some big BTC price corrections in the past. Hash rate refers to the overall computing power involved in validating transactions on the Bitcoin (BTC) blockchain. As reported by Cointelegraph, more power suggests greater network security and interest in the profitability potential of mining Bitcoin. Hash rate a function…
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Standard Hashrate is launching TAU, an algorithmic asset protocol backed by Bitcoin’s hash rate. A group of Bitcoin (BTC) mining companies have put their weight behind Standard Hashrate and its recently launched TAU Protocol, a synthetic asset platform using hash rate derivatives for its peg mechanism. Announced on Friday, the TAU project aims to create…
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The Pakistani province of Khyber Pakhtunkhwa will build two pilot cryptocurrency mining firms as part of a new state policy. The Pakistani province of Khyber Pakhtunkhwa, or KP, has formed a federal committee to create a new cryptocurrency policy including government-backed crypto mining. As part of the new policy, the KP Crypto Advisory Committee has…
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Ether miners coming out in force against the Ethereum Improvement Proposal that can slash the reward ratio by over 50%. The EIP-1559 is a network upgrade that seeks to send a small fraction of the fee associated with all ETH transactions directly to the network. The tokens will be subsequently burned, thereby reducing the overall…
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A return to the peak of the 2017 bull market could signal “major macro highs” for Bitcoin, but this time, institutions are here, says analyst Philip Swift. Bitcoin (BTC) miners are selling less and less BTC, but if one metric is correct, they could soon start causing a major price correction. In an update on…
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Kraken Bitcoin strategist Pierre Rochard debates professor of computer science Jorge Stolfi on whether Bitcoin meets the definition of a Ponzi scheme. Does Bitcoin meet the definition of a Ponzi scheme? This is the subject of the latest Cointelegraph Crypto Duel, where Bitcoin strategist at Kraken meets professor of computer science at the University of…
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A perfect storm consisting of COVID-19, supply shortages and surging crypto prices has resulted in the best financial quarter in Nvidia’s history, as the stock hits all-time highs. Nvidia’s ongoing supply problems won’t stop the company from selling $50 million worth of its new CMP chip range in the first quarter of 2021, the company’s…
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The crypto mining company has been on an absolute tear this month. On Thursday, the stock corrected sharply lower. Shares of crypto mining company Riot Blockchain (RIOT) plunged on Thusday, giving back a portion of a parabolic rally that was largely driven by news of a major boost in hash rate capacity. RIOT fell 20.4%…
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Baidu is reportedly planning to commercialize its chip technology by setting up a dedicated subsidiary backed by crypto-friendly venture capital firms. A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining. Amid Bitcoin’s (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking…
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An unknown client in Russia has stacked 20,000 Bitcoin miners at one of BitRiver’s locations in Siberia. Russia has reportedly imported thousands of cryptocurrency mining devices amid a massive surge in the crypto market. A senior executive at BitRiver, the largest crypto mining colocation services provider in Russia, claimed that a local client received over…
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