Miners

Square is considering building Bitcoin miners, says CEO Jack Dorsey

Square is considering building Bitcoin miners, says CEO Jack Dorsey

advertisement Digital payment platform Square may become the next big thing in ASICs. In an October 15 tweet thread, CEO Jack Dorsey announced Square’s plans for Bitcoin mining: In addition to promising to “build in the open,” Dorsey emphasized the need for greater accessibility and decentralization of Bitcoin mining. The outsized role of the major …

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Bitcoin miners post $1.4 billion in revenue for August, data shows

Bitcoin miners post $1.4 billion in revenue for August, data shows

Bitcoin miners brought in approximately $1.41 billion in revenue during the month of August, according to data compiled by The Block Research.  The monthly figure is below the all-time peak of $1.75 billion posted in March but represents a month-over-month increase — roughly 45% — from July’s $971.83 million.  The vast majority of the August …

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Bitcoin mining could be great for Texas’s grid — according to Bitcoin miners

Bitcoin mining could be great for Texas’s grid — according to Bitcoin miners

Quick Take As Bitcoin’s China-based hash rate plummets due to shutdown orders from regulators, Texas is emerging as an attractive option for Bitcoin miners. Miners argue that mining is just as good for Texas as Texas is for miners since the unique aspects of the industry’s electricity use can strengthen the state’s power grid. It’s …

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Elon Musk said he's speaking with bitcoin miners about renewable energy

Elon Musk said he’s speaking with bitcoin miners about renewable energy

A tweet from Tesla CEO Elon Musk indicates he’s taking steps to encourage renewable energy usage by bitcoin miners.  In a tweet today, Musk said he spoke with bitcoin miners based in North America. During the conversation, those miners committed to publishing a plan for renewable usage, as well as disclosing their current modes of …

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Bitcoin Miners Earn Record Hourly Revenue of $4 Million

Bitcoin Miners Earn Record Hourly Revenue of $4 Million

Bitcoin’s price rally is proving a windfall for the miners of the world’s biggest blockchain. Miners collected a record single-hour revenue of $4.06 million during the 60 minutes to 17:00 UTC on Thursday, according to data provided by the blockchain analytics firm Glassnode. Transaction fees accounted for more than $47,000 of the record hourly revenue. …

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Blockstream buys $25 million worth of Bitcoin miners from MicroBT

Blockstream buys $25 million worth of Bitcoin miners from MicroBT

Blockstream announced Wednesday that it bought $25 million worth of WhatsMiner Bitcoin mining equipment from MicroBT, a Shenzhen-based hardware manufacturer.  “We’ve been extensively testing mining hardware since the launch of our mining hosting service in 2017, and right now, we’re confident saying there’s no better mining hardware on the market than MicroBT’s WhatsMiner miners,” Blockstream …

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Ethereum miners are increasing the network’s gas limit by 25%

Ethereum miners are increasing the network’s gas limit by 25%

Miners on Ethereum are currently in the process of increasing the network’s gas limit from 10,000,000 to 12,500,000 in response to increased network utilization. Users pay gas fees to include transactions in an Ethereum block. The network’s block size is bounded by the amount of gas that can be spent per block, which was previously …

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Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market value fell 8% from $10,137 to $9,298 in less than 5 minutes during Tuesday’s U.S. trading hours, dashing hopes for a continued upward move.  The price drop, however, has not deterred miners from running down their inventory.  …

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