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Channel address: @mining_crypto_miner
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The latest Messages 6

2022-11-16 17:38:02
Bitcoin miner expects ‘many more’ bankruptcies after FTX collapse

Crypto
mining firms listed in Toronto expect more turmoil and a lingering crisis of confidence in digital assets after the collapse of Sam Bankman-Fried’s FTX. as well as smaller ones, is squeezing overleveraged miners and hedge funds that have lent money to the sector, according to the executive chairman of Hive Blockchain Technologies Ltd.

“There are still many more bankruptcies” to come, Frank Holmes said in a phone interview. FTX’s stunning tumble into bankruptcy has even affected already-insolvent firms like Voyager Digital Ltd., a crypto brokerage that filed for Chapter 11 in July and for which FTX had made a takeover offer, he noted. Voyager announced Friday that it’s reopening a bidding process as part of its own bankruptcy proceedings.

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147.8K views14:38
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2022-11-15 13:21:02
Bitcoin Miners' Balance Slides as FTX Collapse Weighs on Crypto

Bitcoin
(BTC) miners or entities generating the cryptocurrency seem to be running down their coin stash amid the FTX-induced market panic. The miner net position change, or the 30-day change of BTC supply held in miner addresses, slipped to -10,972 BTC on Thursday, the lowest since early January.

Bitcoin miners solve complex algorithmic problems to mine blocks and verify transactions in return for rewards paid in BTC. In other words, the miner profitability is heavily dependent on the cryptocurrency's price. Therefore, miners tend to run down their inventory in a bleeding market to stay afloat. Sam Bankman Fried's FTX exchange dented investor confidence and triggered contagion fears.

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227.5K views10:21
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2022-11-14 12:21:02
Crypto market sees biggest miner selling pressure since January 2021

The ongoing market slump caused by the FTX fallout hasn’t left Bitcoin miners unscathed. The market has seen the biggest one-day miner selling pressure since January 2021, and data analyzed by CryptoSlate shows that the selling pressure shows no signs of stopping.

We could see extended selling pressure from miners until the average hash price begins decreasing. In November 2022, the average hash price reached $0.05. Bitcoin’s current $17,500 levels make mining borderline unprofitable not just for small miners, but for large operations as well. At around $9,000 per machine, the newest Bitmain S19Pro ASIC miner has a payback period of 1,500 days at an average hash price of $0.06.

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166.6K views09:21
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2022-11-13 14:11:02
Bitcoin miners accelerate selling as bears take charge

Bitcoin (BTC) miners are increasingly changing their historical BTC holding strategies as the bear market prevails. Notably, miners who are known to accumulate Bitcoin and act as a market buffer are offloading their haul at alarming rates.

In particular, at Bitcoin’s current price, the Bitcoin Miner Sell Pressure tracker indicates an extraordinary selling activity from miners, which is denoted by the color red. The selling rate is ‘almost’ higher than compared to five years ago, data by presented by founder of Capriole, Charles Edward, on November 11 indicates.

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252.4K views11:11
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2022-11-12 09:39:02
Oil Giant Shell Makes Move Into Bitcoin Mining Industry

One of the largest oil and gas companies in the world, Shell, aims to offer its lubricant and cooling solutions to Bitcoin (BTC) miners. As per the announcement, the conferences will be attended by Shell representatives who are set to speak on the mining stage about improving the energy costs of bitcoin mining with Shell’s lubricant and cooling solutions.

Darin Gonzalez, US immersion cooling lead at Shell Lubricants, said that this company aims to provide carbon reduction alternatives to its customers, adding that “one of the most important benefits of immersion cooling fluid is sustainability and renewable energy.”. Shell is a global group of energy and petrochemical companies headquartered in London, which includes a United States-based wholly-owned subsidiary, Shell USA.

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157.2K views06:39
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2022-11-11 16:17:02
Marathon is now the 2nd-largest listed holder of Bitcoin — CEO

During
the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 BTC, worth around $205 million at the time of writing, “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide, ” referring to unnamed third-party data.

According to CoinGecko, the Nasdaq-listed crypto miner is ranked second only to MicroStrategy Inc., which holds nearly 130,000 BTC. It’s followed by crypto exchange Coinbase and Jack Dorsey-founded payments company Block Inc. The company reported its third-quarter earnings on Nov. 8, noting that it added 616 BTC to its holdings in the quarter, while another 615 BTC was added in the month of October alone — the most productive month in the company’s history.

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180.2K views13:17
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2022-11-10 22:13:02
Bitcoin's Top Mining Pool Foundry USA's Hashrate Climbed 350% in 12 Months

Bitcoin
’s total network hashrate was around 160 exahash per second (EH/s), and 15 known mining pools dedicated hashrate to Bitcoin on Nov. 6, 2021. At that time, the mining pool Foundry USA was the fifth largest mining pool with 18.44 EH/s dedicated to the Bitcoin chain. During the last 12 months.

The bitcoin mining pool Foundry USA has been a force to be reckoned with during the last 12 months. The mining operation Foundry USA is owned and operated by Foundry, a mining, staking, and consulting firm based in Rochester, New York. The company was created by Digital Currency Group (DCG) and it was founded in 2019.

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167.9K views19:13
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2022-11-09 16:11:02
Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions 'Restructuring'

On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the company’s October update after the company’s Form 8-K U.S. Securities and Exchange Commission (SEC) filing on Oct. 26, 2022. The filing noted that the company was in the process of exploring “restructuring its existing capital structure.”.

On Oct. 29, Bitcoin.com News reported on the bitcoin mining firm Core Scientific (Nasdaq: CORZ), as the company’s shares were downgraded by the B. Riley analyst Lucas Pipes following the firm’s Form 8-K SEC filing. Pipes downgraded shares of CORZ to Neutral from Buy and said “compressed self-mining margins have exerted extra pressure on the company’s ability to meet its financial obligations.”

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190.8K views13:11
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2022-11-08 18:22:02
Bitcoin's Mining Difficulty Shrinks for the First Time in 4 Weeks

Bitcoin
miners caught a small break late Sunday evening (ET) after the network’s mining difficulty dropped 0.20% lower than the difficulty rating two weeks prior. The drop is the first mining difficulty decrease in four weeks, as the metric changed from 36.84 trillion to 36.76 trillion.

Bitcoin’s mining difficulty is still extremely high in comparison to the height it was in mid-August 2022. For instance, on Aug. 17, 2022, just before the year’s third largest difficulty increase, the difficulty was around 28.35 trillion. At 36.76 trillion, data shows the difficulty increased by 29.66% since Aug. 17, which makes it more than 29% more difficult to find a bitcoin (BTC) block today than it was in mid-August.

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163.2K views15:22
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2022-11-07 21:47:02
Bitcoin-Mining Machines: For Sale on Deep Discount

The
most efficient bitcoin-mining machines are selling for 77% less than last year. The machines, used to process transactions, currently cost about $24 per 100 “terahashes,” a measure of the machine’s computing power, according to mining-services firm Luxor Technology Corp.

Once the Federal Reserve started raising interest rates, risk assets became less attractive. Tech stocks and cryptocurrencies alike fell sharply. When bitcoin crashed—it’s currently down about 70% from a year ago—mining companies’ expenses, especially their debt payments, overwhelmed their revenue. For some, their only move to raise cash right now is to sell their hardware. Other mining companies have also seen stark declines in their stock value.

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139.8K views18:47
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