Around 76% of the total circulating Bitcoin supply is now illiquid according to on-chain analytics from Glassnode. Bitcoin markets have been consolidating since the beginning of the year, but on-chain metrics are painting a more positive picture as more of the asset is becoming illiquid. On-chain analytics provider Glassnode has been delving into Bitcoin supply…
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Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September. Crypto Mining Farms in Iran to Shut Down During Winter Expecting energy needs across…
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The market for crypto mining equipment in Russia has seen strong interest from buyers of both new and used devices, retail data indicates. This year, demand for application-specific integrated circuit (ASIC) machines has multiplied exponentially while video cards have been in short supply leading to rising prices. Crypto Miners in Russia Looking to Increase Computing…
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Fresh data shows 90% of the total Bitcoin supply is mined, but the rest will take a little longer to produce. Total circulating Bitcoin (BTC) hit a significant milestone on Monday morning, one and a half years after the last Bitcoin halving, as 90% of the maximum total supply has been mined. Current data from…
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Cryptocurrency mining is among several energy-intensive industries hurt by a power deficit in Iceland. The country’s main utility is now rejecting requests to connect new coin minting facilities to the grid, after cutting supply to aluminum smelters and fish factories. Iceland Turns Away New Crypto Miners to Deal With Lack of Energy Iceland’s largest utility,…
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Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin while supporting the transition towards climate neutrality in Sweden and Europe. A state-run power company…
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The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will…
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More than $1 billion worth of Ether has been withdrawn from centralized exchanges within a 24-hour period. It’s the second time this year and the price went vertical last time. More than $1 billion worth of Ether has been removed from centralized exchanges in 24 hours, leading to speculation about imminent price gains for Ethereum…
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Both Bitcoin’s daily volume and the amount held by large addresses roughly match 10% of gold’s. After rallying more than 100% in 2021, Bitcoin (BTC) seems to be struggling to turn the $60,000 level into support. After all, what is so special about this magic round number and its accompanying $1 trillion market capitalization? Gold’s…
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Independent researcher Kevin Rooke estimates that Grayscale has ramped up its Bitcoin accumulation to a rate equivalent to 150% of the new BTC created since the halving. Crypto fund manager Grayscale Investments is accumulating Bitcoin at a rate equivalent to 150% of the new coins created by miners since the May 11 block reward halving. …
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