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Ask a typical Bitcoiner to name the most influential mining company, and they would almost certainly name Bitmain. The company is by far the world’s dominant mining rig manufacturer and leads a near-majority of mining pools: Antpool and its many sockpuppets. Quietly, however, stablecoin giant Tether has been increasing its influence with a variety of bitcoin miners across the globe. The stablecoin giant recently invested $100 million in Bitdeer , a publicly traded company operated by a Bitmain co-founder, and it’s also the leading investor in Blockstream , Bitcoin ’s leading development company. Funded partly by Tether, Blockstream has an operating mining division and a dedicated purchasing division that securitizes Bitmain mining rigs. Bitfinex, Tether’s sister exchange, is the trading venue for the Blockstream Mining Note. Tether has also either invested in or funded : Salvadoran bitcoin mine Volcano Energy A Bitcoin mine in Uruguay . Swan Mining , which has deployed o...

Bitcoin’s (BTC) mining revenue plunges to new lows following the halving event, raising concerns about the network’s security and profitability for miners. Daily revenue from Bitcoin mining has dramatically fallen to under $3 million from an average of roughly $6 million in early 2024, marking a significant decline. This downturn follows the Bitcoin halving on April 20, 2024, which reduced the block reward from 6.25 BTC to 3.125 BTC, effectively halving the miners’ income from block rewards. Despite a brief surge in transaction fees due to the introduction of a new token standard called Runes, which spiked the daily transaction fees to an all-time high of $78.3 million on April 20, the hype was short-lived. Picks for you Astar Network offers a new grant for token launches on Astar zkEVM 40 mins ago Opportunity? Bitcoin reconfirms $150,000 target 43 mins ago Silent Protocol unveils Ghost Layer, a modular Layer 1.5 for Ethereum 1 hour ago This So...

1. 0xB10C Research reveals that F2Pool became the first Bitcoin mining pool to filter transactions based on U.S. OFAC sanctions. In September and October 2023, there are six bitcoin blocks missing an OFAC-sanctioned transaction and four by F2Pool. The transactions missing from F2Pool’s blocks are likely filtered. Several reasons could explain why a transaction might be absent from a block. Generally, transactions do not propagate equally through the network, and there is no global mempool to pick transactions from. Each node has its own set of valid transactions. However, for the four transactions that were not included in the block by F2Pool, the authors analyzed the rate distribution of the missing transactions and the included alternative transactions (e.g., the former provides more miner’s fees), and in combination with the space situation of the block (there was enough space to accommodate them but they were not physically included), concluded that this was a case of intentional f...

Gryphon Digital is requesting dismissal from a suit filed by its former partner Sphere 3D over a scam-related Bitcoin transfer. According to Gryphon, the incident was caused by Sphere's security failures. Crypto miner Gryphon Digital is seeking dismissal from a lawsuit brought by its former partner Sphere 3D over a spoofing attack that resulted in 26 Bitcoins (BTC) being transferred to a fraudulent address. According to the initial complaint filed by Sphere 3D in April, Gryphon CEO Rob Chang allegedly wired 18 BTC in January to a fraudster posing as Sphere 3D’s chief financial officer through a spoofing attack. Within a few days, eight more Bitcoins were sent to the same address, resulting in a total loss of over $500,000 at the time. Gryphon claims, however, to be a victim of Sphere's "gross negligence" that allowed a malicious actor to access Sphere’s computer system, send spoof emails from its domain, and cause Gryphon to send cryptocurrency intended for Spher...

All-time high hashrates and mining difficulty indicates that miners are bullish on Bitcoin, while recent sell-offs could be a means to hedge positions. Bitcoin (BTC) mining companies are employing derisking strategies by offloading Bitcoin to exchanges, according to a market report from Bitfinex. The cryptocurrency trading platform’s latest newsletter addresses the Bitcoin mining sector at length, highlighting a recent surge in miners selling large volumes of BTC to exchanges. This has led to a corresponding increase in value of shares in Bitcoin mining companies as institutional interest in BTC picks up in 2023. The report notes that Poolin has accounted for the highest amount of BTC sold to the market in recent weeks. Bitfinex analysts also note that the Bitcoin mining difficult recently hit an all-time high, which it labels as an indicator of “robustness and miner confidence”: “Miners are clearly bullish on Bitcoin as they commit more resources to mining, hence triggering the m...

With the tough conditions that faced Bitcoin miners last year, Iris’ co-founder said the purchase was a “significant milestone” for the company. Australia-based Bitcoin (BTC) Mining company, Iris Energy, revealed it will nearly triple its Mining capacity with the addition of thousands of Mining rigs. On Feb. 13 the firm said it purchased an additional 4.4 Exa Hashes per second (EH/s) worth of Bitmain Antminer S19j Pro ASIC miners bringing its self-mining capacity to 5.5 EH/s from 2.0 EH/s. Based on the S19j Pro’s maximum hashrate of 100 Tera Hashes per second (TH/s), the purchase adds an estimated 44,000 miners to its fleet, according to Cointelegraph’s calculations. Daniel Roberts, Iris’ co-founder and Co-CEO said the purchase “is a significant milestone” for the company and added its been a “challenging period for both the industry and markets more generally.” Iris said the new miners will be installed in the company’s centers but did not mention in which locations. The firm operat...