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

Russian 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.

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

On-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.

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

Ethereum 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.

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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.

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2022-06-15 15:28:07 Crypto Mining News pinned Deleted message Open / Comment

2022-06-15 15:12:02 Bitcoin mining equipment older than 2019 reaches shutdown price

As 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.

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2022-06-14 17:30:28 El Salvador, Microstrategy, Tesla and Block #Bitcoin holdings

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2022-06-13 10:22:02 As energy prices soar, the bitcoin miners may find they have struck fool’s gold

n the bad old days, prospecting for gold was a grisly business involving hysterical crowds, pickaxes, digging, the wearing of appalling hats, standing in rivers panning for nuggets, “staking” claims and so on. The California gold rush of 1848-55, for example, brought 300,000 hopefuls to the Sierra Nevada.

In our day, the new gold is bitcoin, a cryptocurrency, and prospecting for it has become a genteel armchair activity, although it is called “mining”, for old times’ sake. What it actually involves is using computers to perform unfathomably complicated calculations to create cryptographic “hashes” – codes that are, in practical terms, uncrackable.

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2022-06-12 11:03:02 Swedish central bankers snipe Bitcoin mining, cite rampant energy use

A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react. Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned.

The Swedish central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report entitled, "Cryptocurrencies and their impact on financial stability,” the bank had a crack at PoW cryptocurrency mining. PoW mining employs energy-guzzling data centers that solve puzzles to secure blockchains. For Knut Svanholm, a Bitcoin author who recently penned "∞/21M," told Cointelegraph, "A central bank has no business telling people what they can and cannot do with their electricity."

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