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Hashrate
Valkyrie CIO and Co-founder Steven McClurg: Bitcoin in Rangebound Until End of Summer
Bitcoin was holding support around $33K Tuesday and is down about 5% over the past week. The cryptocurrency had a choppy trading session during Asia hours and is stuck in a tight range since June. Valkyrie CIO and co-founder Steven McClurg discusses the outlook for bitcoin and whether it will break out soon. "I definitely see us stuck here over the summer," he said, commenting on bitcoin's trajectory. Plus, why McClurg says he thinks inflation is not transitory and the impact of China's crypto crackdowns on bitcoin's price and hashrate.
How Bitcoin’s Hashrates Affect Its Price
Crypto miners in China are migrating elsewhere in response to the country’s continued crackdowns. CrossTower Research Analyst Martin Gaspar discusses the impact of bitcoin’s hashrate on its price and why this matters. “Bitcoin’s price and hashrate have been very correlated over time… so they tend to move with each other,” Gaspar said.
Bitcoin Mining Difficulty Records Largest Drop in History, Price Jumps
Miners who remain operational are likely to become even more profitable over the coming weeks.
Bitcoin Hashrate Stabilizes After China Crackdown
The majority of the reduction stemmed from China's move to shut down cryptocurrency mining operations in the country, with a little bit from Iran.
Why Bitcoin Mining Hashrate Dropping to 1-Year Low Following China Crackdowns Is Good News for Miners
China's continued crypto crackdowns have been a blow for mining operations based in the country, but for miners in other parts of the world, it might be good news. Bitcoin's hashrate, a measure of the computational power working to secure the blockchain network, dropped to its lowest since May 2020. Meanwhile, the BTC mining difficulty could see a 25% decrease in July. "The Hash" hosts unpack why this is a windfall for active miners outside of China.
Bitcoin Mining Hashrate Drops to 1-Year Low; Difficulty Set for 25% Decrease
Concerns about the extent of the China crackdown have contributed to the past months' decline in bitcoin's price to about $34,200.
Bitcoin Hashrate Drops to 6 1/2-Month Low After China Mining Crackdown
The Bitcoin network's processing power could rebound if miners relocate to other locales, one analyst predicts.
Bitcoin Hashrate Declining Amid China Crackdown
The bitcoin hashrate tumbles amid more crypto mining operations in China shutting down. The country’s Qinghai province is the latest to announce a new crypto ban, following Xinjiang and inner Mongolia. Darin Feinstein of Blockcap, one of North America’s largest miners, weighs in.
Bitcoin Hashrate Plunging Amid China Crackdown
The bitcoin hashrate, which stands for the global computing power used to process transactions on the Bitcoin proof-of-work blockchain, is plunging to its lowest level since last November as several provinces in China are shutting down crypto miners. Christine Lee breaks down the data in today’s Chart of the Day.
Luxor Bitcoin Mining Firm Raises $5M Series A Led by NYDIG
Luxor says it will work with NYDIG on "a number of mining-related ventures and hashrate-based products."
