Publicly-Traded Bitcoin Miners Have Been Outperforming The Bitcoin Price

Four publicly-traded bitcoin mining companies have outperformed the price of bitcoin since 2020 for a few key reasons.

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Crypto Miners Are Stockpiling Bitcoin and Ethereum Rewards

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Here's why Bitcoin mining stocks have been outperforming BTC price in 2021

One of the crypto mining stocks delivered more than 1,600% returns year-over-year (YoY) while Bitcoin's gains in the same period came out to be around 290%.

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Celsius Bankruptcy Process Complete - Over $3 BILLION Begins to be Distributed to Former Users...

Those who are owed funds from Celsius approved this plan themselves, with a total of 98% of creditors voting for it. With approval from their creditors, and now the courts, the final stage of the bankruptcy process begins.

Both crypto and fiat funds are among the $3 billion, and to help distribute a sum this large among so many people, both PayPal and Coinbase are assisting with payouts. 
Those who had funds in Celsius when it collapsed will be reimbursed in two ways, first is the $3 billion in funds that will be distributed . Then there's the new Bitcoin mining company they're launching with the funds they've been allowed to keep.
Under new leadership of CEO Matt Prusak, who already runs Mining company Hut8, the remaining resources of Celsius will launch their new mining company 'Iconic Digital'.
Shares of the new mining company will be used cover the rest of what they owe, distributing them before the company intends to go public.
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Hut8’s Bitcoin production decreased 30% in Q1

Bitcoin miner Hut 8’s mined BTC declined 30% during the first quarter as its production fell to 131 BTC in March from 188 BTC recorded in January. According to theminermag data, the BTC miner produced 475 BTC during the quarter. Its realized hashrate also fell from 1.72 to 1.44. Hut8 sold all BTC it mined […]

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Hut 8 relocates 6,400 rigs, sees growth in AI and high-performance computing

Hut 8 Mining is seeing new demand for artificial intelligence (AI) and high-performance computing as it looks to reenergize some 6,400 rigs being moved from its inactive North Bay site in Ontario, Canada. As previously reported, Hut 8 is in an ongoing legal battle with its third-party energy supplier Validus Power over alleged failure to [...]

The post Hut 8 relocates 6,400 rigs, sees growth in AI and high-performance computing appeared first on Crypto Breaking News.

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Over 50% Of Bitcoin Mining Relies On Renewables, Says ESG Report

A new report from ESG analyst Daniel Batten has found that more than 50% of the energy used in Bitcoin mining comes from renewable energy sources. The report challenges previous literature from Cambridge Centre for Alternative Finance, which postulated that coal was the primary energy source used by the Bitcoin network.  Batten’s report takes into […]

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