Toronto-based Bitcoin mining company Bitfarms recently reported a total revenue of $42 million, representing a 16% decline quarter-over-quarter. This decrease is primarily attributed to the reduction in block rewards following the BTC halving event that took place on April 19, 2024. Bitfarms also reported a significant net loss of $27 million, or $0.07 per share.
Semilore Faleti is a cryptocurrency writer with a specialization in journalism and content creation. Originally delving into various subjects, Semilore quickly discovered his talent for unraveling the complexities of blockchains and cryptocurrencies. His passion for the efficiency of digital assets in terms of storing and transferring value has driven him to become a staunch advocate
Over the weekend, Bitcoin regained stability with its price hovering just above the $61,000 mark. This comes after a tumultuous period where the primary cryptocurrency experienced significant price fluctuations. Interestingly, most altcoins have shown positive growth, with Binance Coin (BNB) and Dogecoin (DOGE) standing out as the top performers among the larger caps. This shift
Santiment recently ranked Internet Computer (ICP) as the top digital asset for development activity, with an overall score of 570.1. This reflects the growing interest in ICP, which is the second-largest in the Artificial Intelligence (AI) realm with a market capitalization of nearly $3.5 billion. Despite experiencing a bull run earlier this year, with its
The recent resurgence of the death cross indicator on Bitcoin’s chart has sparked concerns among crypto analysts and investors alike. Benjamin Cowen, a prominent crypto analyst, has weighed in on this development, highlighting the significance of the $62,000 price level in determining Bitcoin’s future price trajectory. The death cross indicator, which occurs when the 50-day
CoinShares, a leading European investment company, has reported impressive financial results for the second quarter of 2024. The company’s revenue more than doubled compared to the same period in 2023. The earnings report revealed that CoinShares generated revenue of £22.5 million ($28.5 million) in Q2 2024, marking a significant 110% year-over-year growth from the £10.7
Tyler Winklevoss, the co-founder of Gemini, recently made some bold statements regarding the cryptocurrency industry and the Vice President of the United States, Kamala Harris. His criticism of the “reset” in Harris’ crypto stance as a “scam” has caused quite a stir in the crypto community. Let’s take a closer look at Winklevoss’ arguments and
The recent data regarding the inflows and outflows of spot Bitcoin ETFs over the past week have been quite turbulent. At the start of the week, a massive $240 million left the eleven funds, marking their worst day in terms of flows in three months. This negative trend continued with $168.4 million being withdrawn from
In the late 1990s, during one of Berkshire’s annual shareholder meetings, Charlie Munger famously stated, “The first $100,000 is a b—-, but you gotta do it.” He emphasized the importance of finding a way to get your hands on $100,000, no matter the sacrifices. In the world of Bitcoin, there are now over 450,000 BTC
Celsius, a company that previously filed for bankruptcy, is now seeking to recover funds by suing Tether for what they claim to be an improper liquidation of more than $800 million worth of BTC. The lawsuit was filed in the US Bankruptcy Court for the Southern District of New York and alleges that Tether breached
