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While the price of bitcoin has decreased by 70% since the beginning of the year, the turnover of Canaan is reduced by only 14% in yuan.
To avoid bankruptcy, Argo Blockchain had to sell the Helios facility. The company also received a loan of $ 35 million. After the suspension of trading on NASDAQ, the company announced in a press release that it was selling the Helios facility to Galaxy Digital Holding for $65 million.
Mining company Argo Blockchain has announced strategic deals with Galaxy Digital. As a result, the firm will sell its flagship data center in Texas for $65 million and refinance loans.
Due to extreme weather conditions in North America, Binance Cloud Mining products have been disabled. It's all about power outages and blackouts. Thus, the administration of Binance announced that it will extend the validity of subscriptions to the Cloud Mining product for three days to compensate its users for losses.
Tom Dunleavy, an analyst from the research cryptocurrency company Messari, believes that miners who immediately sell mined bitcoins have a bad effect on the price of BTC.
The British mining company Argo Blockchain has asked Nasdaq to suspend trading in shares until the announcement on Wednesday, December 28.
The firm will issue a press release before the start of the trading session.
Bitcoin miner Argo Blockchain has demanded to temporarily suspend trading on Nasdaq in anticipation of an announcement to open on Wednesday, trading is expected to resume on Wednesday.
ASIC BTC miners (an abbreviation of the English application-specific integrated circuit, "integrated circuit for a specific application") — machines optimized exclusively for bitcoin mining are currently being sold at minimum prices not seen since 2020 and 2021, which is seen as another sign of the deepening of the bear market of cryptocurrencies
The protracted bearish trend in the crypto market and the fall in the bitcoin exchange rate, on the one hand, reduced the income of miners, but on the other hand, opened up some opportunities. It is enough to turn to statistics.
Last week, the hashrate of bitcoin fell by about 38% due to the massive disconnection of American miners from the network. On December 25, the capacity decreased to 170.6 hashes per second (Eh/s), this is evidenced by the data of the CoinWarz service.
A journalist from China, Colin Wu, spoke about the main news of cryptomining over the past week, in the period from December 19 to December 25, 2022. He noted: The US National Weather Service reported a snowstorm from the Midwest to the Northeast with a sharp cold snap, which led to negative temperatures in about 80% of the state.
According to the Hashrate Index, public mining companies collectively owe more than $4 billion. The largest debt is due to Core Scientific, Marathon and Greenridge Generation.
The lead developer of XRP Ledger and Xumm Wallet, Witse Wind, answered a question from his subscriber and revealed theoretical scenarios in which XRP can become a stablecoin. In the manner of Michael Saylor or Changpeng Zhao, Wind stated that 1 XRP is equal to 1 XRP.
The developer said that, theoretically, he can assume two scenarios, both of which are quite impossible in themselves. The first assumes that all centralized and decentralized crypto platforms will sell XRP only for a certain amount of fiat. Wind rejected this on the grounds that there are too many crypto platforms.
The material is not an investment recommendation and is published solely for informational purposes.
What happened? The co-founder of the Ethereum network Vitalik Buterin expressed support for the Solana(SOL) blockchain team. Referring to his own authoritative sources, he said that a "serious community of smart developers" has gathered around Solana, and the project has prospects for development, since "mercantile investors" are no longer related to it. "It's hard for me to judge from the outside, but I hope that the community will get a fair chance to flourish," Buterin added.
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