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Bitcoin Investors’ Outlook Shifts as 88% of Held BTC Supply Shows Profit The sentiment among Bitcoin investors is evolving as the majority of the cryptocurrency’s supply held by investors is currently in profit. This data reflects a shift in expectations and attitudes toward the digital asset. According to recent statistics, 88% of the total Bitcoin [...]
Warren Buffett Set to Retire as Berkshire Hathaway CEO by Year-End Renowned investor and Berkshire Hathaway CEO Warren Buffett announced his plans to step down from his role by the end of the year. This news comes as a surprise to many, given Buffett’s long-standing leadership at the company. Buffett, often referred to as the [...]
Ethereum’s Price Gets Approval for Further Upside Following Unexpected 29% Rally Ethereum’s price has been given the green light for more gains after experiencing an impressive 29% surge. The sudden rally has surprised many investors and analysts, leading to excitement and optimism in the market. This significant price increase indicates a strong bullish momentum for [...]
The recent implementation of tariffs by the Trump administration has led to a significant drop in the prices of Bitcoin miners outside the United States. This price decrease is a direct result of the tariffs imposed on Chinese goods, which include mining hardware components. As a result, manufacturers are facing increased costs, which are being [...]
The post Bitcoin Miner Prices Expected to Drop Globally Due to Trump Tariffs, Predicts Mining Executive appeared first on Crypto Breaking News.
The Consumer Financial Protection Bureau (CFPB) has announced its intention to take a more cautious approach to regulating the cryptocurrency industry. A prominent attorney specializing in blockchain and crypto law shared insights on the implications of this decision. The CFPB’s decision to step back from imposing strict regulations on the crypto market comes as a [...]
The post Anticipated Shift: CFPB Expected to Ease Up on Crypto Regulation, Predicts Attorney appeared first on Crypto Breaking News.
The XRP market is approaching a critical point as a potential sell-off looms in April. Technical analysis suggests that an inverse cup and handle pattern is forming, indicating a possible 25% decline in the XRP price. The inverted cup and handle pattern is a bearish signal that often precedes a significant price drop. If the [...]
The post April Forecast: XRP Price Sell-Off Expected to Accelerate with Inverse Cup and Handle Pattern Forecasting 25% Decline appeared first on Crypto Breaking News.
Bitcoin is poised to potentially surge to $138,000 within the next three months, according to macro indicators pointing toward bullish momentum for the cryptocurrency. With significant upside potential, Bitcoin has been gaining traction in the market, drawing attention from investors and traders alike. This forecast comes on the heels of increasing adoption and interest in [...]
The post Predictions: Bitcoin Price Expected to Soar to $138K in Next 3 Months Based on Macro Analysis appeared first on Crypto Breaking News.
Bitcoin Price Volatility Looming as Speculators Transfer 170,000 BTC, CryptoQuant Data Shows Bitcoin’s price is poised for turbulence as speculators shift a significant amount of 170,000 BTC, according to recent data from CryptoQuant. This movement suggests that traders are positioning themselves for potential market swings. The cryptocurrency market has been experiencing heightened volatility in recent [...]
The post Bitcoin Price Volatility Expected to Increase Soon as Speculators Transfer 170K BTC, Reports CryptoQuant appeared first on Crypto Breaking News.
The US Bitcoin reserve fails to meet investors’ expectations, causing disappointment following the Trump administration’s crypto summit. Despite high hopes and anticipation surrounding the event, the outcome left many in the cryptocurrency community feeling let down. The summit, which aimed to address the regulatory landscape for digital assets, fell short of delivering concrete solutions or [...]
The post Backlash Over Bitcoin Reserves Highlights Unrealistic Industry Expectations appeared first on Crypto Breaking News.
The recent cryptocurrency summit hosted by former President Donald Trump stirred up discussions about the taxation of Bitcoin and other digital assets. The event aimed to address the growing influence of cryptocurrencies in the financial sector and explore potential regulatory measures. Participants of the summit included industry experts, government officials, and blockchain enthusiasts, all coming [...]
The post White House Official Expects Trump’s Crypto Summit to Focus on Taxes appeared first on Crypto Breaking News.
Bitcoin experienced a significant drop in value after US President Donald Trump signed an executive order establishing a strategic Bitcoin reserve. The cryptocurrency market reacted swiftly to the news, with Bitcoin plunging to a new low. This move by Trump marks a notable shift in the government’s attitude towards Bitcoin and other digital currencies. The [...]
The post Bitcoin price drops 6% as Trump’s cryptocurrency investment falls below expectations appeared first on Crypto Breaking News.
According to a recent survey, it is projected that by the year 2030, approximately one fourth of S&P 500 companies will have invested in Bitcoin. This trend indicates a growing acceptance and adoption of the popular digital currency among major corporations. The survey also revealed that more and more companies are recognizing the importance of [...]
The post Bitcoin Adoption Expected to Reach 25% of S&P 500 Companies by 2030: Expert Analysis appeared first on Crypto Breaking News.
BlackRock, the world’s largest asset manager, is exploring options to invest in Bitcoin through a European Bitcoin ETP (Exchange-Traded Product). This move comes amidst a growing interest in Bitcoin adoption in Europe, with significant inflows from institutional investors. BlackRock’s potential involvement in a Bitcoin ETP could signal a shift in the traditional finance sector towards [...]
The post BlackRock Bitcoin ETP: Unlocking EU Adoption Potential with Low Inflow Expectations appeared first on Crypto Breaking News.
The United States is anticipated to introduce a stablecoin bill within the next two months, according to Bo Hines. This legislation aims to regulate the use of stablecoins in the country, bringing much-needed clarity and oversight to this rapidly growing sector. Hines highlighted the importance of clear guidelines for stablecoins, noting the potential risks associated [...]
The post Upcoming US Stablecoin Legislation Expected in Coming Months, According to Head of Trump’s Crypto Council appeared first on Crypto Breaking News.
Bitcoin’s recent surge in price has left some analysts feeling bearish about its future prospects. Despite the positive momentum, certain valuation metrics are causing concern among crypto experts. This hesitancy is reflected in the cautious tone adopted by market observers. One particular metric that is troubling analysts is the Bitcoin Stock-to-Flow model. According to this [...]
The post Bitcoin Surges 7% Against Bearish Signals: An Unexpected Rise appeared first on Crypto Breaking News.
The latest data on the US Consumer Price Index (CPI) has shown a lower-than-expected increase, leading to speculations that the Federal Reserve may not implement aggressive rate cuts in the near future. The CPI rose by 0.2% in June, following a 0.1% increase in May, falling short of the 0.3% forecasted by economists. This tempered [...]
The post Is the US Economy Heading for a Rate Cut as CPI Falls Below Expectations? appeared first on Crypto Breaking News.
The gaming industry grew significantly during the COVID-19 pandemic, with more people turning to online games for social interaction. As the world emerges from lockdowns, evidence is growing to prove that this growth wasn’t just a fad. Crypto gaming is an area that combines the best of the crypto and gaming markets, so it’s the ... Read more
<p>The post What To Expect From Crypto Gaming (P2E) And Metaverse Industry in 2023? Metacade Is Set To Skyrocket | Invezz first appeared on CCNC.</p>
Gemini co-founder Cameron Winklevoss says that global investment bank Houlihan Lokey is working to resolve liquidity issues at the exchange.
Canaan Inc. (NASDAQ: CAN) Chief Executive Officer Nangeng Zhang believes the Bitcoin (BTC/USD) mining hardware provider, and the broader sector, could see “prolonged headwinds” in the next few months as the crypto market battles the downside pressure that’s thwarted bulls since the fourth quarter of last year.
Zhang, also Chairman of the Beijing-based computing solutions provider and Bitcoin miner, noted this in a statement shared in a press release highlighting the company’s unaudited Q2 2022 financial results.
Bitcoin tumbling and COVID lockdowns a challenge in Q2Zhang says the second quarter of 2022 was particularly challenging, with highlight factors being Bitcoin’s tumble to prices below $20,000 and the Covid-19 lockdowns across major Chinese cities.
According to the Canaan chief executive, the lockdowns had huge impact on the firm’s daily operations and disrupted demand for its AI chips. Nonetheless, the company tried hard to ensure all its clients were satisfied, and supported its global expansion by integrating operations across its international headquarters in Singapore.
With Southeast Asia becoming an integral supply chain and Canaan teaming with mining partners to boost its business, total BTC mined in the quarter increased to 346.84 bitcoins as of 30 June 2022.
Overall, we are fully aware of the downward pressure from the Bitcoin price since the last fourth quarter and expect it to bring prolonged headwinds to our performance in the coming quarters. Nevertheless, we believe in the unique value of Bitcoin and its long-term prospects. We are committed to developing our supercomputing technology on more advanced nodes and providing competitive products and best-of-class services to clients around the world.”
Canaan Inc financial resultsA summary of Canaan’s financial highlights indicate total computing power sold jumped 27.5% to 5.5 million Thash/s in Q2, up from the 4.3 million Thash/s sold Q1 2022. Revenue also rose, increasing 21.9% in Q2 to hit RMB1,652.7 million ($246.7 million) – compared to RMB1,356.1 million in Q1.
The company also posted quarterly increases of 12% in gross profit, 37.9% in net income and 26.6% in non-GAAP adjusted net income. In Q2, mining revenue rose 60.9% to RMB52.1 million ($7.8 million).
James Jin Cheng, the CFO of Canaan, commented on the performance:
In the second quarter of 2022, we generated total revenue of RMB1,652.7 million, in line with our guidance range. The solid topline performance primarily resulted from the sequentially increased computing power sold and relatively high average selling price we secured with contract sales from previous quarters where the Bitcoin price was at a higher level. As the Bitcoin price further decreased in the second quarter, we responsively lowered our product price for spot sales to shoulder the pressure with our clients.”
The post Canaan CEO expects ‘prolonged headwinds’ amid downward pressure on Bitcoin appeared first on Invezz.
Gold mining costs outweigh economic benefits of mining. The existing climate crisis press for the need to reduce carbon emissions. PoS might be the answer to these issues. Gold mining is a global industry with operations worldwide, with most production concentrated in China, South Africa, Australia, Russia, Peru, and Indonesia. While gold is economically important […]
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