Gold bars recently sold out at Costco, reflecting investors’ souring mood about the economy. Is there a silver lining for Bitcoin? Costco has made headlines this week after it rapidly sold out of gold bars. In times of economic uncertainty and rising inflation, it’s no surprise that investors are turning to traditional safe-haven assets like…
Read more
A recent report by The Miner Mag suggests bitcoin mining orders might have sped up Huawei’s development of its new Kirin smartphone chip. The chip, which powers Huawei’s new Mate 60 Pro smartphone, was produced by China’s Semiconductor Manufacturing International Corp. (SMIC) using its N+2 7nm process. Research Suggests Bitcoin Mining Boosted Huawei’s Chip Development,…
Read more
Tesla’s Q2 2023 Update reveals that the American electric car and clean energy company refrained from selling any of its bitcoin (BTC) or cryptocurrency holdings in the previous quarter. For the past three quarters, Tesla has maintained a digital asset portfolio worth approximately $184 million. Tesla Holds Steady on Bitcoin in Q2 2023, Maintains $184M…
Read more
The cryptocurrency hardware wallet manufacturer Ledger has raised €100 million ($109 million) in funding, according to the company’s disclosure on Thursday. Ledger CEO Pascal Gauthier says there has been significant demand for hardware wallets. He added, “2023 is even better for us because now you can’t even leave money at a Swiss bank.” Ledger to…
Read more
Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run.
Fed Raises Rate Despite Calamity in the U.S. Banking Sector
…
Read more
Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number of inscriptions nearing 20,000. Rising Transaction…
Read more
During the first week of the new year, Bitcoin’s hashrate reached an all-time high (ATH) on Jan. 6, 2023, at block height 770,709. The network recorded a milestone of around 361.20 exahash per second (EH/s) on Friday, jumping more than 4% higher than the previous record of 347.16 EH/s recorded on Nov. 12, 2022. Network’s…
Read more
It now costs less to mine a single Bitcoin which could help to reverse the falling profitability trend while lowering power demands on the network. The cost of mining one Bitcoin (BTC) has fallen to ten-month lows as mining hardware becomes more efficient, and difficulty has dropped 6.7% since its May peak. On July 13,…
Read more
