Analysis Crypto by Thebittimes.Com

According to the cryptocurrency Analysis firm LookOnChain, 5 Bitcoin (BTC) mining wallets have awoken after 15 years of dormancy. The wallets transferred out 50 BTC each earlier today. The wallet received the coins on Apr. 26, 2010, more than 15 years ago, from their mining activities. The 5 Bitcoin mining wallets have made a profit of about $29.6 million over the last decade and a half. 5 miner wallets woke up after being dormant for over 15 years and transferred 250 $BTC($29.6M) out an hour ago. These miner wallets earned 50 $BTC each from mining on Apr 26, 2010. Wallets: 1NuqAKeX6JzW372QfEe7eFkewFx21fnqd3 12EWRT19v2eAvWjGDWjodCe7NP1CzmFphT… pic.twitter.com/vGttaE6MxY — Lookonchain (@lookonchain) July 31, 2025 Can You Still Make a Profit From Mining Bitcoin? Source: Popular Mechanics The short answer is yes, you can still make a profit from mining Bitcoin (BTC). However, the mining landscape has drastically changed since 2010. Back in 2010, BTC’s network difficulty was ex...

Bitcoin (BTC) mining platform GoMining has formed a new advisory board to reinforce its strategic direction, enhance operational execution, and broaden its market presence, as revealed in an April 17 X post. The GoMining Advisory Board is here! We’ve gathered industry veterans with deep know-how and the leadership to drive real change. @gleb_crypto – CEO @blumcrypto, Ex-@binance exec who led Asia expansion.@ChartFuMonkey – CEO at Magic Internet Moneyz, NFT and Web3 strategist.… pic.twitter.com/APNfMmGa1Z — GoMining (@GoMining_token) April 17, 2025 Two renowned industry veterans will be part of this new board. The first is Gleb Kostarev, the Chief Executive Officer (CEO) and co-founder of cryptocurrency trading app Blum.io.  A former senior leader at Binance, Kostarev, oversaw the exchange’s expansion into Asia and the Commonwealth of Independent States. Coupled with a background in both centralized and decentralized spaces, the executive’s experience with...

A lawsuit by the Texas Blockchain Council has forced the US Government to destroy data it gathered on Bitcoin mining. The lawsuit successfully stopped the Biden administration from its data collection on Bitcoin miners, as well as forced them to delete all gathered data thus far. JUST IN: 🇺🇸 Texas Blockchain Council's lawsuit successfully stops the Biden administration from government data collection on #Bitcoin miners. The Government agrees to destroy data collected. pic.twitter.com/WEnrUBqj2m — Watcher.Guru (@WatcherGuru) March 1, 2024 On January 24, The Texas Blockchain Council and mining company Riot Platforms went to a Texas federal court to request to block a survey handed out by the administration. The U.S. Department of Energy’s mandatory survey of miners was sent out in early January. The survey focused on the changing power demand for cryptocurrency mining. Furthermore, the US Government’s survey identified parts of the nation where Bitc...

The US Bankruptcy Court for the Southern District of New York approved Celsius Network’s restructuring plans for bitcoin mining on Wednesday. Celsius filed for Chapter 11 bankruptcy protection in July 2022. A US bankruptcy court has approved Celsius Network’s bitcoin mining shift as part of the ongoing Chapter 11 bankruptcy proceedings the collapsed crypto lender filed in July 2022. The approval order was given by Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York on December 27, Reuters reported. Per the ruling, Celsius can go ahead with the restructuring plans that aims at focusing the company’s operations on Bitcoin mining .  The judge’s order overruled objections to the restructuring plans, paving the way for the move as the crypto firm looks to navigate away from the impactful bankruptcy proceedings. As reported,   US Bitcoin Corp announced in August that it had entered into agreed t...

The report highlighted that Bitcoin mining can convert wasted methane emissions into less harmful emissions. A paper published by the Institute of Risk Management (IRM) concluded that Bitcoin (BTC) has the potential to be a catalyst for a global energy transition.  IRM Energy and Renewables Group members Dylan Campbell and Alexander Larsen published a report titled “Bitcoin and the Energy Transition: From Risk to Opportunity.” The paper argued that while BTC was perceived as a risk because of its energy consumption, it can also catalyze energy transition and lead to new solutions for energy challenges worldwide. Within the report, the authors also highlighted the important function of energy and the increasing need for reliable, clean and more affordable energy sources. Despite the criticisms of Bitcoin’s energy intensity, the study provided a more balanced view of Bitcoin by showing the potential benefits BTC can bring to the energy industry. Amount of vented methane that can be use...

As Texas baked in the sun, Riot Platforms received two types of monetary credit for being attentive to the grid’s power needs. Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement. Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid operator Electric Reliability Council of Texas (ERCOT) and $7.4 million from ERCOT’s demand response program. Those monthly credits are greater than the credits the company received for all of 2022, Les said. Riot Platforms mining statistics for August. Source: Riot Platforms According to a presentation released by Riot on Sept. 6, the company’s power strategy is based on three mechanisms, and all depend on its long-term ERCOT contract. Power credits are received when the company curtails operations and returns power to ERCOT when the price of el...

BTC price has struggled for nearly a month, but Bitcoin miners revenue is up, calling into question the logic of short sellers betting against mining stocks. Driven by heightened demand for Bitcoin (BTC) block space, fueled by Ordinals inscriptions and the PEPE-fueled BRC-20 memecoin mania, miners have become direct beneficiaries of a sudden boom in transaction fees, increasing their bottom lines. This surge has resulted in an unprecedented increase in the average number of transactions, and consequently revenue per BTC block mined. Data from a recent Glassnode report sheds light on the revenue increase for miners in May, as they raked in a total of 12.9 BTC in mining rewards per block, with fee revenue surpassing subsidies for only the fifth time in Bitcoin’s history. Bitcoin average fee paid per block. Source: Glassnode Coin Metrics data underscores this phenomenon further, revealing that on May 8, miners generated a staggering $41.16 million in daily revenue, a level unseen since l...

Cointelegraph’s Elisha Owusu Akyaw shares how cryptocurrency is changing the financial landscape in Africa — and the opportunities and challenges that come with it. The crypto currency space has no shortage of skeptics. While many people criticize the environmental impact of proof-of-work blockchains or the proliferation of scams, one particular argument against crypto often stands out: Blockchain has no real use cases.  Every two weeks, Cointelegraph’s The Agenda podcast breaks down this critique and explores the various ways blockchain and crypto can help everyday people. On this week’s episode of The Agenda , hosts Jonathan DeYoung and Ray Salmond chat with Elisha Owusu Akyaw, Cointelegraph’s own social media specialist and host of the Hashing It Out podcast, to break down how Africans are using crypto to strengthen financial inclusivity and potentially turn countries into hubs of technological innovation. How crypto is helping everyday Africans According to Akyaw, crypto offers ...

After a torrid 2022 that saw it sell off its flagship mining facility, Argo Blockchain's woes are worsening after a recent class action suit. Investors of crypto mining firm Argo Blockchain have filed a class action lawsuit accusing the miner of making untrue statements and omitting key information during its initial public offering (IPO) in 2021. A newly filed lawsuit on Jan. 26 is aimed at Argo and several of its executives and board members. It claims the firm failed to disclose how susceptible it was to capital constraints, electricity costs and network difficulties. "The Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading," the lawsuit read. As a result, the investors claim the Business was “less sustainable” than they had been led to believe which led to an overstatement of the miner’s financial prospects. The complaint noted...

Local stakeholders believe that a crypto mining moratorium might actually mean the beginning of a new dialogue between the government and the industry. Canada has remained a peculiar regulatory alternative to the neighboring United States in regard to crypto currency. While its licensing process has become more stringent than in some countries, Canada was the first to approve direct crypto exchange-traded funds. State pension funds have invested in digital assets, and crypto Mining firms have moved to the country to take advantage of the cool temperatures and cheap energy prices. But the gold rush for miners in Canada may be slowing down. In early December, the province of Manitoba — rich in hydroelectric resources — enacted an 18-month moratorium on new mining projects. This move resembled a recent initiative in the U.S. state of New York that stopped the renewal of licenses for existing mining operations and required any new proof-of-work miners to use 100% renewable energy. Thes...

The Bitcoin market has been drowning the red sea along with its counterparts. Amidst constantly crashing projects, the mining industry hasn’t been very profitable. While several filed for bankruptcy a few others have been recording nothing but losses. Canaan, a popular Bitcoin mining platform, revealed that its net income during the third quarter plummeted by 88 percent. In a recent report, it was brought to light that the firm’s Q3 net income dropped to 6.11 million yuan or $8.6 million when compared to last year. The amount of computing power sold fell by 48.5% to 3.5 million terahashes per second. This was further followed by its revenue which dropped by 26% to 978.2 million yuan. Addressing the latest drop, Nangeng Zhang the CEO of the firm said in a statement, “The negative market dynamics have significantly hindered bitcoin miners’ revenues and cash flows. As miners are forced to cut their demand for computing power, we had to adjust down our ...

Russian revenues from the minting of bitcoin saw a multifold increase in the past few years before declining significantly since this past spring. The findings come from a new study which also established that the sector was growing during both ups and downs in the crypto market . $1.4 Billion in Turnover Expected From Russia’s Bitcoin Mining This Year as Business Shrinks The revenue from bitcoin mining in Russia has increased 18 times between 2017 and 2021, according to a new report by computing hardware distributer Intelion Data Systems, quoted by RBC Crypto. During the period, the total grew from 7 billion rubles in first studied year (below $114 million, at current exchange rates) to 128 billion rubles in the last (over $2 billion). According to the research, in the past eight months the bitcoin mining revenue has dropped to just over 57 billion rubles ($929 million), despite a fairly confident start to 2022. The second quarter of the year is actually considered by experts to...

Bitcoin mining, which has received criticism for its excessive Energy usage, may be subject to a new Energy labeling system in the European Union. Bloomberg states the EU will work on a grading measure to promote environmentally-friendly crypto currency mining practices. Bitcoin uses “proof of work” to add to the blockchain, a process that requires a lot of Energy to run. PoW requires many separate computers to come to a consensus before new information can be added to the ledger. This draws a lot of Energy because computers must solve complex problems to earn the chance to edit the blockchain. The more the blockchain grows, the more powerful the computers needed to add to it must become. “Proof of stake,” however, requires much less power. With this system, there is no competition to write a new block. Block creators instead use their current crypto holdings and are selected by the algorithm to add new blocks. With this method, much less energy is dra...

On October 18, Bitcoin  price continued to trade bullish, breaking above the major resistance level of $19,440 level. Ethereum, on the other hand, has gained more than 2% to $1,334 during the early Asian session.  Major cryptocurrencies are trading in the green today as the global crypto market cap grew over 1.7% on the previous day to $934 billion. Over the last 24 hours, the crypto market volume was around $50 billion, a 31% gain.  DeFi had a total volume of $3.3 billion, while the total volume of stablecoins was $47 billion. Top Altcoin Gainers and Losers The top performers in the Asian session were Huobi Token (HT), Zilliqa (ZIL), and  Maker (MKR). The Huobi (HT) is on the rise, gaining over 15% to $7.7, while ZIL's price has risen by over 11% to $0.033. Moreover, MKR's price rose over 9% to $1,084. Cryptocurrency Market Heatmap | Source: Coin360 The Ethereum Name Service (ENS) price is exhibiting a downtrend, losing nearly 4% in t...

Cryptocurrency exchange Binance has set out to support crypto miners through a lending program established by its mining pool. Presenting the initiative this week, the coin trading platform also unveiled that Binance Pool intends to launch cloud mining products. Leading Exchange Binance Looking to Help Bitcoin Miners in Difficult Times for Crypto Business Binance, the world’s leading crypto exchange by daily trading volume, has announced a plan to extend financial support to companies involved in the extraction of cryptocurrencies. The lending project was recently unveiled by the platform&#x2019 ;s mining pool . The program will help bitcoin mining and infrastructure providers as part of efforts to bolster the mining industry. “As one of the world’s leading crypto mining pools, Binance Pool has a responsibility to help maintain a healthy digital asset ecosystem,” the exchange said, elaborating: In light of current market conditions, Binance Pool is laun...

While the markets plunge in response to the anticipated interest rate hike, Bitcoin’s (BTC) hashrate has reached a new all-time high. As per the data on Coinwarz, BTC’s hashrate reached 325 .11 EH/s on the 11th of October, at block 758,138. Source: Coinwarz.com Although Bitcoin’s price seems to be tumbling, the hashrate seems to be moving the other way around. The new all-time high comes a week after the previous peak a week prior, on the 5th of October. However, at press time, the hashrate dropped to 281.10 EH/s. Why is BTC’s hashrate reaching new ATHs so often? There are several reasons why Bitcoin’s hashrate might be increasing. Firstly it could have something to do with the falling prices of GPUs. The global chip shortage in early 2022 was a cause of concern for not just miners. With the chip shortage problem seemingly at an end, rig prices have consequently gone down. This might have led to more miners joining the network. The second reason...