Approximately 6,000 old Bitcoin mining rigs in the United States will soon be unused and sent to a warehouse in Colorado Springs, where they will be refurbished and resold to people looking to profit from mining in a low-cost environment of overseas buyers.
JinseFinanceBitcoin is hovering near its lowest level in about two weeks on lower inflows into dedicated exchange-traded funds and concerns that the scope of U.S. interest rate cuts is narrowing.
JinseFinanceBitcoin extended its pullback as investors digested record single-day outflows from the world's largest exchange-traded fund and fading expectations of a rate cut from the Federal Reserve.
JinseFinanceGlobal NFT sales plunged 63% to $8.7 billion last year, leaving many assets virtually worthless, according to CryptoSlam.
JinseFinanceAs of Monday, the $24.2 billion Grayscale Bitcoin Trust (ticker GBTC) had seen $7.4 billion in outflows in 31 trading days. GBTC has not seen a single inflow since converting to an ETF in mid-January.
JinseFinanceThe number of Bitcoins held by miners has dropped recently; falling reserves could signal a fall in Bitcoin prices.
JinseFinanceStar finance writer Matt Levine an entire BusinessWeek magazine issue to write about crypto. That may be game over for hard-line skeptics.
CoindeskAmid the grueling bear market for Bitcoin, Ether and altcoins, the cryptocurrency industry is undergoing consolidation.
Cointelegraph
NulltxThe Mayor has been a proponent of the crypto industry and has now pledged support for sustainable Bitcoin miners by asking Governor Hochul to veto a two-year moratorium on mining.
Cointelegraph