⛏️ Crypto Mining News ⛏️

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Logo of telegram channel mining_crypto_miner — ⛏️ Crypto Mining News ⛏️
Channel address: @mining_crypto_miner
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Bitcoin/Crypto Mining News
Admin: @James_MCM

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The latest Messages

2022-06-23 14:57:02
Bitcoin miners sold their entire May harvest

The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low. The deteriorating market conditions have also affected Bitcoin (BTC) mining profitability adversely, forcing miners to liquidate their BTC holdings.

New data from Arcane research shows that public Bitcoin mining firms sold 100% of their BTC production in May compared to the usual 20-40% earlier.In the first four months of 2022, public BTC mining firms sold 30% of their mined production, which increased 3X folds in May and is expected to rise even further in June. While public BTC miners only make up to 20% of the total network hashrate, their behavior often reflects the sentiments of private miners as well.


411.3K views11:57
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2022-06-22 10:10:02
One of Biggest Bitcoin Mining Firms in Canada to Start Selling Their Holdings

global Bitcoin self-mining company, Bitfarms based in Canada, is now "adjusting its HODL strategy" according to the press release to add more liquidity and strengthen its balance sheet. Reportedly, the company has sold 3,000 BTC for approximately $62 million at the average price of $20,600.

After the deal was done, the company's total Bitcoin holdings remained at 3,349 Bitcoins with 14 BTC added to the balance every day. Additionally, the Canadian Bitcoin mining company will proceed to reduce the BTC-backed credit facility with Galaxy Digital LLC from $66 million to $38 million. But despite the debt before Galaxy Digital and the illiquid balance sheet, the main reason behind the operation was the extremely high volatility on the cryptocurrency market that caused Bitcoin's drop below the 2017 all-time high of $19,000.


493.8K views07:10
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2022-06-21 07:32:02
Iran Will Reportedly Cut Off Electricity to All Legal Crypto Miners

Middle Eastern nation has gone against licensed crypto miners and will shut down all 118 legal ones in two days, according to a recent report. The country’s authorities have already done something similar in the past, citing the growing electricity demand during the summer.

Unlike previous years, though, Iran’s share in terms of BTC mining has been declining, so shutting down all licensed operations in the nation will not have much of an impact on the hash rate. Cambridge’s Bitcoin Mining Map shows that Iran has fallen behind other nations. For example, it accounted for 6.9% of the total hash rate in June last year, while the percentage has dropped significantly to 0.2% as of January 2022.


444.1K views04:32
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2022-06-20 12:23:02
Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft’s Oil Extraction

crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer’s wells in Russia.

Russia’s third largest oil producer, Gazprom Neft, will power data centers operated by the country’s leading crypto mining company, Bitriver. The electricity needed for the production of digital currencies will be generated using associated petroleum gas, a form of natural gas found with oil deposits. In accordance with the agreement, the mining firm will develop the digital infrastructure at Gazprom Neft’s oil fields and provide services relying on computing hardware, the report details.


326.2K views09:23
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2022-06-19 07:49:02
Bitcoin Miners Continue To Sell As Outflows Spike Again

-chain data shows Bitcoin miners have continued their selling as outflows from their wallets have once again spiked up. As pointed out by an analyst in a CryptoQuant post, BTC miners from Poolin look to have sold big over the past 24 hours.

The “miner outflow total” is an indicator that measures the total amount of Bitcoin moving out of wallets of all miners. When the value of this metric surges up, it means miners are taking some coins out of their reserves at the moment. On the other hand, low values of the outflow suggests miners haven’t been showing much movement lately. This trend can be either neutral or bullish for the value of the coin.


448.6K views04:49
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2022-06-17 09:39:02
GPU mining could eventually be profitable after Ethereum moves to proof of stake

is by far the most popular cryptocurrency for GPU miners. However, there is little time left for Ethereum in its proof-of-work state. It moves to proof-of-stake later this year when it merges with the beacon chain.What will happen to GPU miners, and where will the hashing power end up? There are plenty of options, but will any of them be profitable following a considerable increase in hashrate?

The decline in crypto markets has made even mining Ethereum unprofitable for many miners. However, after Ethereum moves to proof-of-stake, GPU miners will no longer be able to mine Ethereum. With the price decline, the increase in energy costs, and the merge date drawing closer, the hashrate of the Ethereum network has dropped dramatically.


482.8K views06:39
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2022-06-16 19:00:26

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261.8K viewsedited  16:00
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2022-06-16 17:31:02
Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K

Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market.

Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are currently selling their BTC in anticipation of the price going down. The rise in Bitcoin miners selling activity is backed by the significant decline in mining profitability.


292.0K views14:31
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2022-06-15 15:28:07 Crypto Mining News pinned Deleted message
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2022-06-15 15:12:02
Bitcoin mining equipment older than 2019 reaches shutdown price

Bitcoin fell as low as $22,600, some mining equipment manufactured in 2019 is no longer profitable, while the rest is barely producing positive returns.Bitcoin (BTC) mining company Bitdeer posted a chart on Twitter showing the price limits for each piece of equipment to remain profitable.

At press time, Bitcoin is trading at $23,437. However, it fell below $22,000 earlier today, which temporarily made Antminer S17+/73T’s unprofitable as well. Antminer S19 and Whatsminer M30S+ were produced in 2020, while Antminer S19j was developed in 2021. These machines can handle an additional 15% loss in Bitcoin prices before they’re deemed unprofitable. The remaining machines, which were also produced after 2020, can remain profitable for up to a 30% price loss in Bitcoin.


520.4K views12:12
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