Over the past two weeks, Bitcoin’s hashrate has fallen by nearly 100 exahashes per second (EH/s) — signaling a slowdown in global mining activity. This decline coincides with a $2 drop in mining revenue per petahash (PH/s) since last month, reflecting tighter profit margins for miners amid fluctuating network conditions.
On Tuesday, as the entire crypto market slipped more than 2.5%, publicly traded bitcoin miners (36 of them, but not all) strutted in the opposite direction, chalking up a 4% gain during the stock market’s trading session.
Canaan Inc. has secured a purchase order from a U.S.-based bitcoin miner for more than 50,000 of its latest Avalon A15 Pro mining machines, marking its largest order in three years.
By the numbers, Bitcoin’s network difficulty climbed 5.97% at block height 917,280, landing it the title of this year’s third-biggest jump.
Cipher Mining’s (CIFR) $3B HPC deal should have been a catalyst, but the stock went sideways as a $1.3B convertible raise stole the spotlight. Here’s why institutions rushed in, and what it means for shareholders.
Bitcoin miners had a modest September slump, watching revenue shrink 4.23%—that’s $69 million gone compared to August’s haul.
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