Bitcoin Hash Price Falls to Record Low, What’s Next?
With Bitcoin hash price at an all-time low, miner capitulation reflects December 2022’s profitability fall. BTC may lose the $60,000 support. Following the Bitcoin halving event in April, the Bitcoin miner capitulation remains the most closely watched event. Based on the on-chain data, the Bitcoin hash price has reached its all-time low as several miners have reportedly […]
Coatue Management Invests $150M in Bitcoin Miner Hut 8
Bitcoin miner Hut 8 Corp recently secured a $150M investment from Coatue Management, a technology-focused investment manager. As investors continue to capitalize on artificial intelligence (AI) growth, Coatue Management, a technology-focused investment manager, will allocate $150 million to the Bitcoin (BTC) miner Hut 8 Corp. Hut 8 Corp disclosed the multimillion-dollar investment from Coatue Management, […]
Bitcoin Miner Reserves Drops to Least Since 2010
According to IntoTheBlock data, the Bitcoin miners‘ hold as reserves have experienced their lowest value in over 14 years since February 2010. Miners’ reserves decreased to 1.90 million Bitcoin on June 19, following a peak of 1.95 million BTC at the beginning of the year. Lucas Outumuro, the director of research at IntoTheBlock, anticipates that […]
Bitcoin-Based Apps Drive Miners’ Income
The increase in transaction fee revenue for Bitcoin miners can be attributed to new token protocols such as Ordinals and Runes. The fourth Bitcoin halving event has resulted in a 50% reduction in miners’ earnings. However, the increase in decentralized application (dApp) activity on the Bitcoin blockchain has sufficiently alleviated the financial burden on miners. […]
Tech Startup Auradine Raises $80M in Recent Funding Round
Auradine, a technology startup for hardware and software solutions in crypto mining and web infrastructure, raised $80 million in a series B funding round. Celesta Capital, Mayfield Fund, Marathon Digital, newcomers StepStone Group, Top Tier Capital Partners, MVP Ventures, and Maverick Capital contributed to the funding. Mayfield and Celesta Capital led the organization’s prior funding […]