Crypto mining operations based in the United States are committed to increasing their hash power with more hardware despite Bitcoin’s (BTC) three-month downturn. The Marathon Digital Holdings and GEM Mining companies in the U.S. told Cointelegraph this week that they each expect the size of their respective operations to grow through 2022 by at least doubling the number of machines…
In the wake of Russia’s incursion into Ukraine, crypto users have taken it upon themselves to raise money in support of the beleaguered nation. To that end, decentralized autonomous organizations, better known as DAOs, are spinning up to help those hurt by the invasion. Political activist and critic of Russian President Vladimir Putin, Nadezhda Tolokonnikova, better known as a founding…
Watch This Episode On YouTube Listen To This Episode: On this episode of “Bitcoin Bottom Line,” host Steven McClurg is joined by Greg Foss and Josh Olszewics to discuss bonds. McClurg and Foss met while being coinvestors in the company that was responsible for bringing exchange-traded funds (ETFs) into Canada for the first time. Through a spot bitcoin ETF, the…
The U.S. Secret Service has launched a cryptocurrency awareness hub. The new platform “will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains secure.” Secret Service’s Crypto Awareness Hub The U.S. Secret Service announced last week that it “has…
Block, the parent company of Square, Cash App, Spiral, TIDAL, and TBD, released Cash App’s Q4 2021 results, which demonstrate how providing Bitcoin brokerage services might be a good business strategy. During Q4 2021, Cash App generated $1.96 billion in bitcoin revenue and $46 million of bitcoin gross profit, up 12% and 14% year-over-year (YoY), respectively. The compounding annual growth…
In brief Russia ranks third among all countries in Bitcoin mining, as measured by hashrate. Its share is remaining steady after the invasion of Ukraine. If Russian miners were to go offline suddenly, the Bitcoin network would become slightly less secure for a time. Over half of the Bitcoin network’s computing power comes from three countries: the U.S., Kazakhstan, and…
Crypto markets are taking a beating but there are still a few standout performers even during this week’s volatility. One sector that has managed to rise above the noise are NFT-related altcoins and GameFi tokens. Top gainers in the collectible and NFT sector. Source: CoinMarketCap Data from Cointelegraph Markets Pro and CoinMarket Cap shows that three notable gainers over the…
According to research published by Chainalysis, criminal entities hold more than $25 billion in cryptocurrencies. The blockchain intelligence firm’s study shows that there was a significant increase in crypto balances held by criminals in 2021 as the metric jumped by 266% since the year before. Chainalysis Studies Crypto Whales Holding Balances Tied to Illicit Addresses The blockchain surveillance company Chainalysis…
The sanctions announced by United States President Joe Biden in response to Russia’s attack on Ukraine did not include cutting the country off from payments on the SWIFT system or cryptocurrency transfers. In a Thursday announcement from the White House, Biden said the U.S. and its allies and partners would be enforcing sanctions aimed at imposing “devastating costs” on Russia…
How mining works is fascinating. When I explain it to people, I enjoy seeing their face the moment their mind is blown. I’ll explain it here, but just know, I’m imagining all your faces as your minds blow! I have to start with hash functions. Without hash functions, Bitcoin would not be possible. Let me explain what they are first,…
