Bitcoin

Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person

Markets

Bitcoin Mining Was Significantly Less Profitable in August, Jefferies Says

September could be another difficult month for the miners as bitcoin remains under $60K and the network hashrate continues to rise, the report said.

By Will CannySep 11, 2024

Alta Novella's turbine room with 40 ASIC bitcoin miners.

Markets

Bitcoin Eyes $58K With Downtrodden Crypto Markets Exposed to Short Squeezes, Says Analyst

The 30-day average funding rates for perpetual swaps slid to negative levels, a rare occasion that marked a bottom in prices historically, K33 Research said.

By Krisztian SandorSep 10, 2024

Finance

Solo Bitcoin Miner Wins Big After Securing an Entire Block Reward

The emergence of new mining rigs may have created an opportune environment for solo miners, according to CryptoQuant.

By Oliver KnightSep 10, 2024

ASIC Miners (Sandali Handagama/CoinDesk)

Markets

Core Scientific Is Uniquely Placed to Deliver AI Data Center Scale in the Near Term: Bernstein

The bitcoin miner benefits from readily available sites and power, less competition and the ability to hire strong data center talent, the report said.

By Will CannySep 10, 2024