W o r l d . C r y p t o . G l o b a l

Loading

Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.

Contact Info

CATEGORY: bitcoin miner


Bitcoin Price Analysis: Whales, Miners, and Traders Signal Market Stability

Author: Arslan Tabish
Estonia
Sep 19, 2024 02:30

Bitcoin Price Analysis: Whales, Miners, and Traders Signal Market Stability

The Bitcoin community is currently facing a rather uncertain environment, which is characterized by both stability and opportunities for growth. While the cryptocurrency hovers around the $60k mark as of press time. A recent analysis from CryptoQuant presents various tactics from the new and old whales, miners, and Binance traders that shape the current and […]

 CleanSpark acquires 7 mining sites in Tennessee, hashrate to grow 22%

Author: Cointelegraph by Derek Andersen
United States
Sep 12, 2024 12:00

CleanSpark acquires 7 mining sites in Tennessee, hashrate to grow 22%

CleanSpark is acquiring more sites in Tennessee after buying GRIID Infrastructure's facilities there.

 Worlds largest Bitcoin miner increased BTC holdings by $124M in July

Author: Cointelegraph by Zoltan Vardai
United States
Aug 07, 2024 12:00

Worlds largest Bitcoin miner increased BTC holdings by $124M in July

Marathon Digital holds over $1.1 billion worth of Bitcoin after the company decided to go full HODL.

Aug 31, 2024 12:00

Why crypto miners are ditching debt for equity

Crypto miners are moving away from debt and embracing stock dilution to fuel their AI and HPC ambitions, but the payoff is still uncertain.

Aug 04, 2024 12:05

Bitcoin Hashrate Nears Record Levels Amidst Price Decline Details

According to data from CoinMarketCap, the price of Bitcoin (BTC) has taken a nosedive this week falling by 9.03% to trade below the $62,000 price mark. This negative price action brings the assets net gain over the last month to a mere 0.20%, indicating a period equally influenced by both buyers and sellers. As Bitcoin now attempts to find a support level, blockchain analytics platform CryptoQuant has revealed certain elating developments in the token mining space. Related Reading: Bitcoin Miner Capitulation Comes To An End Time To Buy BTC? Bitcoin Miners Hashrate 2% Away From Network ATH On Friday, CryptoQuant shared on X that the Bitcoin miner hashrate has been on the rise this last week, reaching as high as 604 exhashes/second (EH/S). According to the analytics team, this value represents a 6% gain from the lows on July 9 but remains 2% off the network’s current all-time high hashrate value.  Cryptoquant report states that Bitcoin miners are currently enjoying a better pay condition compared to April as daily mining revenues have grown by over 50% since early July, thus reducing the need to offload their assets. This is proven evidently as daily Bitcoin miner outflows stayed between approximately 5000 – 10,000 BTC in July, showing a notable decrease from the range of 10,000 – 20,000 BTC seen in early March when Bitcoin reached the $70,000 price mark. Generally, the Bitcoin hashrate measures the total computational power used to mine and process transactions on the Bitcoin network. It is a crucial indicator of miners confidence in BTC, with an increase signaling belief in mining the token due to profitability from current or future prices.  However, the ability of Bitcoin miners to sustain their recent performances despite the tokens recent dip could prove pivotal in initiating a market price rebound, especially as a sell-off by these miners could further drive down the tokens price. Nevertheless, a future decline in hashrate is a more likely scenario as miners profitability is largely depends on Bitcoins price in addition to network fees. Related Reading: Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price BTC Price Overview  At the time of writing, Bitcoin trades at $61,387 with a loss of 5.05% in the last 24 hours. Meanwhile, the assets daily trading volume is barely up by 5.35% and is valued at $42.9 billion. Historical price data indicates BTC may currently be in the support zone, however, any further decline past this level could result in prices as low as $55,000 as seen in early July. Alternatively, if the crypto market eventually finds some stability in this zone, a return to the $70,000 price zone is on the cards. Featured image from Reuters, chart from Tradingview

 TeraWulf launches new Bitcoin mining facility, eyes major tech partnership

Author: Cointelegraph by Zoltan Vardai
United States
Aug 30, 2024 12:00

TeraWulf launches new Bitcoin mining facility, eyes major tech partnership

TeraWulf claims to be the most profitable miner on a per-share basis, with an average production cost of $40,000 per Bitcoin.

Aug 28, 2024 05:50

Bitcoin Analyst: 4 Crucial Support Levels To Watch If BTC Falls

Bitcoin is trending lower when writing, cooling off after the encouraging leg up on August 23. Although the uptrend remains, and the coin is not far away from $63,000, there is no discounting the possibility of sellers pressing on. The alignment with the dip of early August could trigger another wave of liquidation, causing panic. [...]

The post Bitcoin Analyst: 4 Crucial Support Levels To Watch If BTC Falls appeared first on Crypto Breaking News.

 3 reasons why Bitcoin wont be boring in September

Author: Cointelegraph by Biraajmaan Tamuly
United States
Aug 21, 2024 12:00

3 reasons why Bitcoin wont be boring in September

While Bitcoin failed to close above the $60K psychological level on the weekly chart, the long-term holders (LTHs) continue to adopt a bullish strategy in 2024.

 Bitcoin miners may gain $13.9B yearly from 20% shift to AI and HPC  VanEck

Author: Cointelegraph by Ciaran Lyons
United States
Aug 19, 2024 12:00

Bitcoin miners may gain $13.9B yearly from 20% shift to AI and HPC VanEck

Bitcoin miners could increase profitability and improve bad balance sheets by allocating some of their energy capacity to the AI and HPC sectors, according to VanEck.

Aug 19, 2024 04:10

Bitcoin Miner Marathon Digital Raises $250 Million To Buy These Cryptocurrencies

In a bold move to enhance its cryptocurrency portfolio, Marathon Digital, one of the leading Bitcoin miners, has successfully raised $250 million. This substantial investment is earmarked for increasing its stakes in Bitcoin (BTC) and the promising altcoin ETFSwap (ETFS). As the company looks to solidify its position in the

Aug 13, 2024 05:50

Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: Whats Next For BTC?

Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines. Traders Cautious: Will The Bitcoin Consolidation Continue? Taking to X, one on-chain analyst said. [...]

The post Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: Whats Next For BTC? appeared first on Crypto Breaking News.

 Worlds largest Bitcoin miner announces $250M raise to buy more Bitcoin

Author: Cointelegraph by Zoltan Vardai
United States
Aug 13, 2024 12:00

Worlds largest Bitcoin miner announces $250M raise to buy more Bitcoin

The new raise is part of Marathons strategy to go full hodl and make Bitcoin a strategic reserve asset for the company.

Aug 02, 2024 01:25

Bitcoin Hashrate Hits All-Time High as Trump Vows to Boost Industry

Bitcoin's 7-day average mining hashrate has hit a new all-time high above 667 exahashes per second during the Bitcoin 2024 conference, reflecting greater security and fundamentals.

 Worlds largest Bitcoin miner didnt sell any BTC in June

Author: Cointelegraph by Zoltan Vardai
United States
Jul 04, 2024 12:00

Worlds largest Bitcoin miner didnt sell any BTC in June

Marathon Digital said it aims to further strengthen its Bitcoin holdings through open-market acquisitions but may also sell to support operations in the future.

Jul 29, 2024 12:05

Bitcoin Miner Capitulation Comes To An End Time To Buy BTC?

Indeed, the Bitcoin price has been on a hot streak in recent weeks, returning to its past heights most investors have become accustomed to. However, the past week was a somewhat quiet one for the premier cryptocurrency, as it was for most of the digital asset market. Interestingly, the latest on-chain insights suggest that the crypto market, specifically the Bitcoin market, might not be inactive for too long.  BTC Price Momentum Shifts To Positive – Impact On Price? In a recent post on the X platform, popular crypto pundit Ali Martinez revealed that Bitcoin miner capitulation has seemingly come to an end. This on-chain observation is based on a shift in the Glassnode Hash Ribbon indicator, which measures BTCs hash rate. Related Reading: Analyst Predicts Solana Rise To $1,400 As Similarities With July 2021 Emerge Typically, the Hash Ribbon features two moving averages; including the short-term (30-day) and long-term (60-day) hash rate. A cross of the short-term moving average below the long-term moving average implies miner capitulation, which is characterized by widespread sell-offs by miners. On the other hand, when the 60-day ribbon falls under the 30-day ribbon, it indicates the end of capitulation and the potential start of a recovery phase for the network. As shown in the chart below, this positive cross appears to be the current situation for Bitcoin, signaling an optimistic future for the flagship cryptocurrency. Ultimately, this means that Bitcoin miners are returning to the network and restarting operations, as they become more profitable. From a historical standpoint, the end of miner capitulation is a bullish sign, as it often precedes significant price leaps for the premier cryptocurrency. Martinez highlighted this in his post on X, saying this could present good buying opportunities. Another indicator that supports this on-chain revelation is the Bitcoin Miner Profit/Loss Sustainability metric, which measures how fair miner revenues are. According to the latest data from CryptoQuant, the BTC miners have been making some profit over the past few days, putting them in the fairly paid region of the indicator. Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands at around $68,230, reflecting a mere 0.7% increase in the last 24 hours. As earlier inferred, the premier cryptocurrency had an uneventful week in terms of price action, dancing between the $64,000 and $68,000 range. Related Reading: Crypto Backs Donald Trump: $4 Million War Chest In Bitcoin, XRP For Re-election According to data from CoinGecko, the BTC price increased by barely 1% in the past week. Nevertheless, the cryptocurrency retained its position as the largest digital asset in the sector, with a market capitalization of more than $1.33 trillion. Featured image from iStock, chart from TradingView

Jul 25, 2024 12:05

Bitcoin Price Prints Rare Buy Signal With 84% Win Rate, $80,000 Coming?

After rising by more than 28% over the 16 days, the Bitcoin price was rejected at key resistance at $68,500 on Sunday. Since then, the BTC price is displaying a slight pullback, but according to Charles Edwards, the founder of Capriole Investments, investors can expect the bullish momentum to continue. Edwards shared the chart below and stated via X, “BREAKING: Hash Ribbon buy signal just fired.” Why The Bitcoin Hash Ribbons Matter This statement is significant, as the hash ribbons have historically been a reliable indicator, with an 84% accuracy rate in predicting Bitcoin’s major price bottoms. The hash ribbons are predicated on the interplay between the Bitcoin hash ratethe total computational power used to mine and process transactionsand Bitcoin’s market price. Related Reading: Is Bitcoins Recent ETF Inflow Surge a Setup for a Fall? What Traders Need to Know Analysts observe that a drop in Bitcoin’s price or an increase in operational costs, such as electricity, may cause miners to halt operations temporarily. This period, known as ‘miner capitulation,’ is crucial because a resumption in mining activity is typically viewed as a bullish signal for Bitcoin’s price. The indicator itself is derived from the moving averages of the Bitcoin hash rate; specifically, the 30-day and 60-day moving averages. A ‘Buy’ signal occurs when the shorter-term moving average crosses above the longer-term average after a period of miner capitulation, indicating that the worst of the sell-off may be over and a recovery phase is likely imminent. Crypto analyst Jelle, known on X as @CryptoJelleNL, commented, “Hash ribbons are showing that minor capitulation is over! This signal prints after every halving event, and after major corrections — and suggests the next leg of expansion is just around the corner. Time for 80k+?” Related Reading: Mt. Gox Creditors Begin Withdrawing Owed Bitcoin And BCH Funds Via Kraken Further supporting the bullish sentiment, the account @DaFinancialPage noted on X, “Miner Capitulation. The Hash Ribbons indicator’s blue buy signal has appeared 19 times. Of those, 16 marked Bitcoin’s macro low, giving it an 84% win rate. The 3 times it didn’t, a major correction followed.” Thus, the appearance of the hash ribbon ‘Buy’ signal can be interpreted as a strong indicator for the next bullish phase in Bitcoin’s market cycle. However, the three instances when the signal failed to predict a significant rise highlight the inherent risks and uncertainties with every indicator. Notably, technical analysis aligns closely with the anticipated target of $80,000 discussed by Jelle. The 1.272 Fibonacci extension is sitting at approximately $79,337. However, before a new all-time high can be explored, Bitcoin must secure support at the 0.618 Fibonacci retracement level at $65,943 in the daily chart, which could act as a critical juncture. Subsequent levels at the 0.786 Fibonacci at $69,384 and the 1.0 Fibonacci at $73,767 serve as potential interim targets. At press time, BTC traded at $66,403. Featured image created with DALL·E, chart from TradingView.com

Jul 03, 2024 12:05

Bullish Reversal For Bitcoin? Retail Investors Flood Back As New Addresses Reach 4-Month Peak

Recently, the price of Bitcoin (BTC) has entered a consolidation phase, fluctuating between $61,000 and $62,000 after a brief drop to $58,000 on June 24. While retail investors have shown renewed interest alongside institutional counterparts, the market faces a mix of bullish signs and potential headwinds. Retail Investors Return To Bitcoin  In a recent social media post, crypto analyst Ali Martinez highlights the resurgence of retail investors, as evidenced by a four-month high in new BTC addresses reaching 432,026, adding to the sentiment that investors are betting on a significant price increase for BTC in the coming months, despite recent price volatility.  Related Reading: Ethereum Suffers 3rd Straight Weekly Outflows, Becomes 2024s Worst Performer In a separate post analyzing BTC’s recent price action, Martinez also suggested that the largest cryptocurrency on the market is currently confined within a parallel channel, with a potential rebound to $63,200 or $63,800 if the lower bound at $62,500 holds.  In particular, Martinez cites the critical resistance areas of $65,795 and $78,700 as key targets if BTC breaks above them. However, not all news is positive for the Bitcoin market. In the past 72 hours, BTC miners have sold over 2,300 BTC worth approximately $145 million. This selling pressure adds to the US and German governments’ ongoing sell-off of confiscated BTC. Mining Industry Under Pressure  The mining industry faces challenges due to lower network fees and reduced block rewards resulting from the Halving event in April.  Kaiko Research notes that average network fees have decreased from $3 to $5, a significant drop from around $45 in January. The halving saw block rewards reduce from 6.25 BTC to 3.125 BTC, impacting miner revenue. This revenue squeeze has put pressure on miners, eroding profitability while fixed expenses such as energy, wages, and rent remain constant. The decline in network fees has further contributed to the reduction in revenue.  Historically, Bitcoin price rallies following Halving events have helped miners compensate for the drop in rewards. However, the price of Bitcoin has remained relatively unchanged since the April 19 software update. Related Reading: 36% Explosion! ENS Coin Steals The Spotlight In The Crypto Market In April, fees briefly surged to nearly $150 due to the increased minting of non-fungible tokens (NFTs) on the BTC blockchain. Although this temporarily relieved miners, fees have since returned to average levels.  According to Bloomberg, Marathon Digital, one of the largest Bitcoin miners, sold 390 BTC in May and plans to sell more tokens to manage its finances. Kaiko Research warns that the risk of forced selling by miners may persist in the coming months. As a result, the industry is expected to witness consolidation as miners seek to “consolidate assets” and “increase efficiency.”  Notable examples include miner Riot Blockchain’s hostile takeover attempt of Bitfarms Ltd. and CleanSpark Inc.’s recent agreement to acquire Griid Infrastructure Inc. for $155 million in an all-stock transaction. At the time of writing, BTC is still consolidating within its range at $61,880, down 2% in the 24-hour time frame, wiping out all gains in the past 30 days, as losses in this time frame amount to 9%.  Featured image from DALL-E, chart from TradingView.com

Jul 03, 2024 12:05

Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price

On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoins price heading into the third quarter of the year.  Bitcoin Miners Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May.  Related Reading: Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Heres The Target Secondly, the crypto analyst mentioned that the volume of the OTC Desk that miners use for selling has been consumed, suggesting that someone recently bought up all the available Bitcoin supply from these miners. The volume of the OTC Desk is said to have piled up until June 29th, as there was no willing buyer to purchase these crypto tokens.    Bitcoin miners greatly contributed to the price crashes the flagship crypto suffered in June. Data from the market intelligence platform IntoTheBlock showed that these miners sold 30,000 BTC ($2 billion) throughout the month. This put significant selling pressure on Bitcoin, which caused it to drop below $60,000 at some point.  As such, the decline in selling pressure presents a bullish development for Bitcoin and could continue the bull run for the flagship crypto. Crypto Dan noted that this development has created sufficient conditions to continue the upward rally for Bitcoin in this third quarter of the year.  Crypto analyst Willy Woo had also previously predicted that Bitcoins price would recover once miners capitulate. With that out of the way, Bitcoin could enjoy an upward trend this month and make massive moves to the upside.  BTC’s Uptrend Has Begun Crypto analyst Rekt Capital noted in a recent X (formerly Twitter) post that Bitcoins uptrend has begun. He claimed that the macro higher low has been confirmed, and Bitcoin is now rallying to the upside. He added that the flagship crypto is developing a macro bull flag, providing a bullish outlook for the crypto token.  Related Reading: Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price In another X post, the crypto analyst remarked that the goal for Bitcoin following its strong start to July is to build a foundation from which it will be able to springboard to the Range High area at $71,500 over time. Crypto analyst Michaël van de Poppe also suggested that Bitcoins downtrend is over and a bullish reversal was underway as the flagship crypto makes significant moves to the upside. He also mentioned that he believes that Bitcoin has bottomed out and has found support at $60,000, meaning a decline below that price level anytime soon was unlikely.  At the time of writing, Bitcoin is trading at around $62,900, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

 Bitcoin miner Northern Data eyes $16B IPO for US cloud and mining units

Author: Cointelegraph by Brayden Lindrea
United States
Jul 03, 2024 12:00

Bitcoin miner Northern Data eyes $16B IPO for US cloud and mining units

Northern Data is considering listing its cloud computing and data center business under two separate entities on the Nasdaq in the first half of 2025.

Jul 12, 2024 12:05

Binance Bought A Whooping 41,000 BTC During The Dip: Did They Save The Bitcoin Market?

Bitcoin is moving sideways at press time, absorbing the wave of selling over the last week. Even though there are some optimists, the candlestick arrangement in the daily chart points to weakness. This preview, at least from a technical angle, remains as long as prices trend below the round number of $60,000 and the liquidation level at around $66,000. Binance Bought The Bitcoin Dip Amid the recovery, one analyst, pointing to interesting on-chain data, observed that when prices fell last week, some unnamed exchanges were loading up the dip. It is now emerging that Binance, the world’s largest exchange by client count, was actively accumulating. CryptoQuant data shows that Binance increased its reserves by 41,000 BTC over the last bear run when prices corrected from $72,000. Buying on dips is strategic, considering the exchange’s obligation, especially for users seeking to convert other tokens for BTC on the fly instantaneously. Related Reading: XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst During this time, Ki Young Ju also noted that “permanent holders,” entities who tend to HODL and not move coins, have been accumulating. These addresses, excluding spot Bitcoin exchange-traded fund (ETF) issuers, exchanges like Binance and Coinbase, or miners, added 85,000 BTC in the last month. During this time, spot Bitcoin ETF issuers decreased their holding by 16,000 BTC. While some entities were scrambling for the exits, others saw this as an opportunity to double down, loading on every retracement. Their involvement has helped stabilize prices, improving sentiment shredded after last week’s dump to as low as $53,500. German Government Offloading More BTC Even as the “diamond hands” buy the dip, the German government is not stopping; looking at Arkham Intelligence data. Today, on July 11, they moved another 3,250 BTC, on top of the 5,627 sent earlier, to multiple market makers and exchanges, including Bitstamp. Their decision to sell is heaping more pressure on the coin, slowing down the uptrend. Even amid sustained outflows from the German government, a Coingecko survey shows that most respondents, especially investors, are upbeat. Related Reading: Filecoin Boom Incoming? Market Optimism Fuels Cryptos Next Breakout Star Meanwhile, traders and speculators have mixed sentiments. While 39% of traders are upbeat, expecting prices to recover, another 33.5% of those surveyed are bearish. Most speculators, or 42.4% of those surveyed, are bearish, expecting prices to continue tanking. Feature image from DALLE, chart from TradingView

Your Crypto Gateway

Claim 1,000
Free WCG Coins

World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.

11 bn

FREE CRYPTO COINS

8.9 bn

AVAILABLE FOR RESERVATION

2.1 bn+

ALREADY ALLOCATED

× WCG Coin

🎉 Get 1,000 WCG Coins

No fees. No catch. Your crypto journey starts here.