Mining

Bitcoin Miners' OTC Balances Reach Two-Year High

Friday. August 23 at 8:30 PM

1 min. read

Cryptocurrency miners currently hold the highest amount of Bitcoin available for sale in over two years, potentially leading to a price drop. Historical data shows that spikes in Bitcoin miner OTC balances have preceded significant price declines. Recent reports indicate a surge in OTC desk balances, reaching 368,000 Bitcoin, valued at approximately $22.36 billion. This surge suggests increased selling activity among miners. Past instances in 2018 and 2021 have shown that high OTC balances were followed by price drops of up to 63% and 45%, respectively. Miners opt for OTC deals to sell Bitcoin for better execution without impacting market prices significantly. However, recent trends, such as declining Bitcoin supply on exchanges and whales accumulating coins, may help support Bitcoin's price. Despite rising operational costs and reduced mining rewards, miners are exploring new revenue streams by providing energy to AI and HPC sectors.

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Bitmain's US Production Line to Counter Trade Tensions

Monday. December 9 at 11:00 PM

Bitmain, a leading Bitcoin mining hardware company, has launched a US-based production line to address delays caused by customs issues and trade tensions. The move aims to provide faster services to North American customers. The first batch of US-made Antminer S21 Pro units is expected to be delivered this month. This decision comes after reports of delays in shipments due to national security concerns. The US Customs and Border Protection had held Bitmain's devices, leading to significant disruptions for American miners. By producing ASICs domestically, Bitmain hopes to ensure a stable supply chain and avoid potential tariffs. This strategic shift also reflects a broader trend in the industry to diversify production locations. The move is seen as a proactive step to navigate evolving market challenges and strengthen Bitmain's competitive position in the region.

Mining

Revolutionizing Cryptocurrency Mining with CryptoKeying

Monday. December 9 at 4:00 AM

CryptoKeying, a prominent cryptocurrency mining platform, has introduced new services to simplify and enhance the profitability of cryptocurrency mining for users and investors. Emphasizing simplicity, transparency, and user empowerment, CryptoKeying aims to revolutionize cloud cryptocurrency mining. The process involves registering on the platform, receiving a $10 bonus upon account creation, selecting a suitable contract, and earning daily profits. Various contracts offer different benefits, such as the 'Experience Contract' or investments in mining equipment like the 'WhatsMiner M30S+'. Additionally, CryptoKeying offers an Affiliate Program where users can earn cash rewards by inviting friends to invest. With a strong presence in over 190 countries, CryptoKeying has become a trusted name in the industry, serving millions of users worldwide. For more details, visit their official website at https://CryptoKeying.com/ or contact them via email at [email protected]

Mining

Kevin O'Leary's Interest in Bitcoin and Alberta's Energy Reserves

Friday. December 6 at 11:00 PM

Kevin O'Leary, Chairman of O'Leary Ventures, finds Alberta Premier Danielle Smith's comments on oil reserves intriguing. Smith highlighted Alberta's vast oil and gas reserves, emphasizing plans for carbon capture and emission reduction. O'Leary praised her energy initiatives, suggesting they align with Bitcoin mining and AI data center needs. He commended her for drawing attention to the potential of natural gas in powering mining operations. Additionally, Smith expressed Canada's commitment to being a key energy partner with the US, regardless of the administration. O'Leary hinted at a budding friendship with Smith and hinted at future collaborations. The article also mentions Smith's upcoming visit to Washington D.C. for the presidential inauguration and her positive outlook on US-Canada relations. O'Leary's interest in Bitcoin and Smith's energy strategies indicate a promising partnership in the making.

Mining

The Rise of Dogecoin and Litecoin in Mining Industry

Friday. December 6 at 8:00 AM

Bitcoin mining company BIT Mining has revealed that mining Dogecoin and Litecoin is more profitable than mining Bitcoin alone. The firm, based in Akron, Ohio, stated that these two cryptocurrencies are proving to be lucrative options due to their increased profitability compared to Bitcoin. Dogecoin, initially created as a joke, has now become the seventh largest digital coin, largely due to Elon Musk's influence. By engaging in merged mining of Dogecoin and Litecoin, BIT Mining has seen nearly three times more profitability than solely mining Bitcoin. The surge in prices of Dogecoin and Litecoin can be attributed to Musk's support and Donald Trump's backing of the crypto space. Despite Musk's positive comments on Dogecoin, he has clarified that he is not actively involved in cryptocurrency. BIT Mining has successfully mined significant amounts of Litecoin and Dogecoin, valued at millions of dollars. As the crypto market continues to evolve, diversifying revenue streams through mining alternative cryptocurrencies has proven to be a wise strategy for companies like BIT Mining.

Mining