Bitcoin capitulations abound — Data shows realized and unrealized losses at record-highs
Bankruptcies, shrinking profit margins and traders realizing hefty losses are all signs of capitulation from various market participants.
Bitcoin mining revenue lowest in two years, hash rate on the decline
The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500.
Could Hong Kong really become China’s proxy in crypto?
With its partial autonomy, the island city of Hong Kong has traditionally served as a gate to China, but with crypto, there is a catch.
Australian firm raises $28M to expand Bitcoin mining capabilities
The Sydney-based Arkon Energy secured $28 million in a recent funding round to expand its renewable energy Bitcoin mining operations despite the volatile market.
Hive Blockchain revenue declines by 44% Y/Y despite overall mining production surge
The company mined 31% more Bitcoin than in the same quarter last year.
FTX collapse followed by an uptick in stablecoin inflows and DEX activity
Investors piled into stablecoins following FTX’s collapse, and an uptick in DEX activity suggests a rising interest in self-custody options.
Bitcoin miner Canaan scales operations despite low earnings, CEO says
Chinese Bitcoin mining firm Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, but it’s not the end of its business.
Argo Blockchain is at risk of closing if it fails further financing
Argo Blockchain has been selling its Bitcoin holdings earlier this year to cut debt to Michael Novogratz’s crypto investment firm Galaxy Digital.
Core Scientific reveals financial distress in SEC filing, says its end may be near
The Bitcoin miner says low BTC and high electricity rates and Celsius’ refusal to pay its bills could be its undoing; the company’s BTC holdings have dropped from 8,058 in May to 24 now.
Bitcoin miners rethink business strategies to survive long-term
A look at why some Bitcoin miners continue to thrive in the bear market while others need to rethink their strategies in order to continue operations.
