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“# Record low Bitcoin velocity suggests BTC may ‘move to the downside’ ” In the early hours of July 14, Bitcoin price took a surprise hit to $31,550 before slowly recovering back above $32,900 in the morning session. The swift drop near the crucial $30,000 resistance raised alarms among bulls and bears and whilst the…
“# Bitcoin mining ban an easy decision for China, says Bitmain EMEA partner ” Two weeks after a 15% increase in electricity prices in Turkey, a new store selling professional mining equipment has opened its doors in Istanbul —the business hub of the country— on July 13. Opening a mining equipment shop in a country…
“# China shuts down crypto mining in Anhui province ” The Chinese government continues cracking down on the cryptocurrency mining industry by suspending crypto mining operations in another province. Authorities at Anhui, a small province in eastern China, have announced a set of measures to tackle growing electricity demand and an associated power supply shortage…
“# Bit Mining raises $50M to take operations out of China ” Shenzhen-based crypto mining firm, Bit Mining, is raising $50 million to fund an expansion out of the Chinese market. Announced on July 12, the firm has entered into an agreement with select institutional and accredited investors to raise $50 million through a private…
“# The9 signs green Bitcoin mining deal with Russian firm BitRiver ” The9, a Chinese internet company listed on the Nasdaq, is moving forward with its cryptocurrency mining plans by signing a contract with a major Russian data center operator. The company announced Monday that it has signed a crypto mining hosting agreement with Russian crypto…
“# Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation ” As the pressures placed on the market by China’s cryptocurrency crackdown begin to subside and the Bitcoin (BTC) hashrate starts to show signs of recovery, traders are now focused on how the price will be affected by this week’s unlocking of more…
“# Ukrainian police seize 3,800 PS4 consoles used for illegal crypto mining ” Ukrainian authorities have raided an allegedly illicit crypto farm in the country. According to an official announcement from the Security Service of Ukraine, the facility was located on the former premises of JSC Vinnytsiaoblenergo, an electricity supply company. The illegal crypto miners…
“# Green energy-focused Bitcoin miner Hive joins North American mining pool ” Following its approval for a Nasdaq listing, Canadian Hive Blockchain Technologies has bought more than 3,000 Bitcoin (BTC) mining rigs to get involved in the Bitcoin mining shift from east to west. Purchased from Digital Currency Group (DCG) subsidiary Foundry Digital LLC, the…
“# US crypto community overtaking Asia, says Mike Novogratz ” As Bitcoin (BTC) has continued trading sideways after dipping below $33,000 on Thursday, Galaxy Digital CEO Mike Novogratz has provided some geopolitical observations regarding the industry. In an interview with CNBC’s Squawk Box, Novogratz said that Bitcoin price is now consolidating between $30,000 and $35,000,…
“# US-based Bitcoin miner Gryphon buys 7,200 rigs from Bitmain ” Gryphon Digital Mining has signed a purchase agreement with Bitcoin (BTC) mining equipment maker Bitmain to purchase 7,200 Antminer S19J Pro mining rigs. According to a release issued on Thursday, the entire outlay for the mining inventory amounts to about $48 million. Starting in…