Author: NBTC
The U.S. Energy Information Administration (EIA) estimates Bitcoin mining uses about 170 TWh of electricity per year, or about 0.6% to 2.3% of annual American electricity consumption. The aggregate market cap of 14 publicly traded U.S. mining companies totals about $20 billion, according to an April report by JPMorgan Chase. As the Bitcoin mining industry has grown, so too has its reputation. And that reputation is largely negative. Discussions with three different Bitcoin mining executives through more light about their operations and the reality of Bitcoin mining. Chronos Energy Chronos Energy is an off-grid Bitcoin mining company that utilises stranded…
The percentage of bitcoin’s circulating supply last active at least a year ago has declined from 70% to 65.8% in three months. The decline probably indicates profit-taking by some investors in a rising market. The percentage of bitcoin’s circulating supply that last moved on-chain at least a year ago has declined to the lowest since October 2022, according to data tracked by blockchain analytics firm Glassnode. On Monday, 12.95 million BTC, equating to 65.84% of the circulating supply of 19.67 million BTC, remained unchanged for over a year, the lowest percentage since October 2022. The metric peaked above 70% with…
Shiba Inu marketing specialist Lucie recently explained how the upcoming TREAT Token benefits the SHIB ecosystem amid queries and misconceptions. Shiba Inu is gearing up for a significant expansion with the introduction of its latest addition, the TREAT token. Lucie’s disclosure came on the back of comments from some proponents following the announcement of a $12 million funding round dedicated to its development. Benefits of TREAT to the Shiba Inu Ecosystem She shed light on the pivotal role TREAT will play within the SHIB ecosystem. At its core is the function as the ecosystem reward token. Once operational, users engaging…
Alex Gadstein, Chief Strategy Office of the Human Rights Foundation (HRF), appeared in an interview on the What Bitcoin Did podcast, published on April 8, to talk about the ultimate use cases for Bitcoin (BTC). In a 1-hour interview, Gladstein explained that Bitcoin is not just an investment, highlighting how bad it is for dictators. Interestingly, Bitcoin is a technology, or a tool, that facilitates savings, commerce, freedom, and energy efficiency, according to HRF’s CSO. “Bitcoin is not just a savings technology, it’s not just a freedom technology, it’s not just a commerce technology, it’s an energy savings technology. The…
According to data shared by Etherscan, over a day ago, a recently set up cryptocurrency wallet purchased several hundred billion SHIB meme coins. Whale grabs 237.8 billion SHIB The transaction was made from an anonymous wallet that may indicate an OTC purchase or a whale distributing his cryptocurrency stash between smaller blockchain addresses. A whopping 237,868,630,126 SHIB were transferred to the aforementioned wallet in total. This amount of meme cryptocurrency is evaluated at $6,290,435 at the time of this writing. The purchase took place after the SHIB team made a major announcement about securing $12 million in investments for developing…
Early Bitcoin (BTC) adopter Jeremy DaVinci has shared insights into the potential price trend for the digital currency. Taking to his official X handle, DaVinci highlighted the interesting times the crypto industry is in with sustained parabolic growth in the price of Bitcoin. Despite the retracement Bitcoin faced earlier this month, DaVinci said the price of the asset has closed above the upper Bollinger Bands indicator for two consecutive months. According to him, the last time this event happened, the price of the coin jumped as high as 2x in just two months after the setup was confirmed. As a…
The digital asset landscape is witnessing a significant shift as blockchain technologies like FlokiFi Locker bring enhanced security to cryptocurrency transactions and holdings. In a recent major development, Alltoscan has adopted FlokiFi’s advanced decentralized finance (DeFi) locker protocol to secure a substantial $18 million worth of $ATS team tokens. This move not only underscores the growing trust in FlokiFi Locker’s technology but also exemplifies its role in shaping the future of secure digital transactions. Alltoscan, a prominent player in blockchain technology, is spearheading efforts to develop a comprehensive block explorer that supports all rollups, thereby enhancing transparency and usability in…
It’s a wild time for Bitcoin. The leading cryptocurrency’s price surged higher and higher in March to break its 2021 peak price, spot Bitcoin ETFs are spurring wider interest in the coin, and this month’s Bitcoin halving and Runes token protocol are driving significant excitement. Given all of that, it’s no surprise that Bitcoin Ordinals are white hot lately, with the NFT-like assets taking over the market and shaking up the battle between marketplaces as well. If you’ve been sitting on the sidelines, now’s the time to take a closer look at Ordinals and the growing buzz around the on-chain…
In a strategic move to bolster its ecosystem, Mina Protocol has partnered with Celestia to incorporate a first-of-its-kind modular decentralized data availability (DA) solution. This collaboration is spearheaded by Geometry Research and supported technically by o1Labs. It marks a significant advancement in the Mina ecosystem, introducing more robust data availability options that are crucial for the development of zkApps—applications that utilize zero-knowledge proofs to ensure privacy and security while maintaining the integrity of the underlying data. The integration is timely as blockchain technology faces increasing challenges around data availability, a critical aspect for ensuring transparency and security in decentralized networks.…
Bitcoin showcases resilience, maintaining its position above $70,000 despite recent market fluctuations. Deutsche Bank analysts highlight five key reasons supporting Bitcoin’s enduring high prices. “Central banks’ shift towards a more accommodative stance could boost investor interest in cryptocurrencies,” say Marion Laboure and Cassidy Ainsworth-Grace. Amid a dynamic financial landscape, Bitcoin’s persistence above the $70,000 mark underpins investor confidence, backed by significant developments and economic shifts poised to sustain its high valuation. Pivotal Catalysts Propelling Bitcoin Bitcoin’s recent rebound, surpassing the $70,000 threshold, underscores its robustness in the volatile cryptocurrency market. Deutsche Bank’s Marion Laboure and Cassidy Ainsworth-Grace attribute this endurance…