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Bitcoin Set To Outperform In Second Half Of 2021, Bloomberg Analyst


As Bitcoin continues its tumultuous run through the market, analysts continue to see big things in store for the cryptocurrency. Bloomberg analyst Mike McGlone recently said in the August Edition of the Bloomberg Galaxy Crypto Index (BGCI) that the coin was set to outperform in the second half of the year. Already one month into the second half of the year, the market has seen the price of bitcoin breaking $40,000 for the first time since the market crash.

The report said bullish fundamental underpinnings would improve this second half. Likely relating to the continuous growth of the digital asset over the past two weeks. Continuing upward trends have put the digital asset at bullish trends that see the asset price increasing higher.

Related Reading | Wells Fargo Now Offers Cryptocurrency Investment To Clients

The report sees the current trends enduring, which would most likely push the assets to continue to outperform as the second half of the year plays out.

Bitcoin Reasserts Leadership Of Crypto Market

Bitcoin continues to be the number one cryptocurrency in the market. A large share of crypto market dominance continues to be held by the digital asset. With over 45% of market dominance belonging to bitcoin. This puts the digital asset at the top of the food chain when it comes to the cryptocurrency market.

The report points out that the pioneer cryptocurrency recently reasserted its dominance in the market with the recent 10% in the price, following the weekend rally that saw top crypto coins across the board gaining significant numbers in their price.

Bitcoin price chart from TradingView.com

BTC price moves into downtrend | Source: BTCUSD on TradingView.com

Bitcoin was tied in with gold and long bonds as the top assets that were set to outperform this second half of the year. Pointing out their decades-long advancement and recent price dips as an enhancement for their current relative values.

Ethereum In Resting Bull Ark

The report also touched on the current movement of Ethereum along with bitcoin. Explaining that the continuing growing nature of the digitalized finance market will bring about an uptrend in the price of Ethereum.

Related Reading | Ethereum Set To Explode According To Market Dominance, Crypto Analyst

Ethereum has continuously outperformed in the market since its inception. So it is not a stretch to believe that the asset is set to outperform, following behind bitcoin. Ethereum still commands the second largest market cap in the crypto market. And is gaining more and more market share as the coin continues to gain more value. With upgrades set to happen on the network, ETH is going to be even more valuable than ever.

The report pointed out that adoption will increase for both Bitcoin and Ethereum. While dollar dominance will continue to remain a prominent theme in the market.

Featured image from Markets Insider, chart from TradingView.com



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Marvel to Launch Spider-Man NFTs This Week — NFT Comic, ‘Super-D Figures’ to Follow – Bitcoin News


On August 5, Orbis Blockchain Technologies Limited and Marvel Entertainment kicked off the Veve Digital Collectibles’ “Marvel Month” celebration. The two companies plan to issue the first non-fungible token (NFT) assets featuring the Marvel Super Hero, Spider-Man.

The Orbis Veve App and Marvel to Launch the First Spider-Man Statue NFTs

This week, Spider-Man and non-fungible token (NFT) fans will be able to purchase and interact with a set of five unique digital statues of Marvel’s Spider-Man on August 7 at 8 a.m. (PT). Bitcoin.com News reported on Marvel Entertainment’s partnership with Orbis at the end of June. “The Spider-Man series drop is the first of many digital statues, digital comic books, and other digital collectibles in Veve’s Marvel Month initiative,” the announcement details.

According to the press release Veve’s Marvel Spider-Man statue initiative will include:

  • Common – Spider-Man – The Amazing Spider-Man Price: $40.00 – Quantity: 32,000
  • Uncommon – Spider-Man – Hangin’ Out Price: $50.00 – Quantity: 16,000
  • Rare – Spider-Man – Jump Into Action Price: $100.00 – Quantity: 9,000
  • Ultra-Rare – Spider-Man – Animated Price: $250.00 – Quantity: 2,500
  • Secret-Rare – Spider-Man – Ultimate Animated Price: $400.00 – Quantity: 1,000
Marvel to Launch Spider-Man NFTs This Week — NFT Comic, 'Super-D Figures' to Follow
Three out of the five different Spider-Man NFTs due to launch on August 7, 2021.

Marvel and Veve say that the Spider-Man series of statues is just the beginning, as NFTs like a unique Marvel Comics Issue #1 from 1939 will be released. “Each version will have a different cover and a different level of rarity and offered in a ‘blind box’ format for $6.99,” the announcement details. An exclusive line of “Super-D figures” from Marvel will be revealed on the Veve application as well. “Each digital figure will have a different level of rarity and will also be sold in a blind box format for $13.00,” Marvel says.

“Spider-Man is one of the most legendary Super Heroes in the Marvel Universe, so there was no better way to kick off our global digital collectibles experience with Veve,” Dan Buckley, the president of Marvel Entertainment remarked in a statement. “We can’t wait to bring Marvel fans and collectors even more exciting drops throughout August and beyond.”

Marvel’s arch-rival DC Comics will be releasing NFT someday in the future as well, as the comic book creator hinted at releasing DC Comics NFTs at some point in time. The only reason the public found out about this information is because DC Comics’ legal expert told artists and comic book freelancers not to produce DC Comics-related NFTs without permission.

It seems, at least for now, Marvel Entertainment has beat DC Comics to the NFT race and the comic book creator will have to catch up.

What do you think about Marvel’s upcoming Spider-Man NFT drop on August 7? Let us know what you think about this subject in the comments section below.

Tags in this story
Blockchain, Comic book fans, comics, Dan Buckley, DC Comics, Marvel Comics, Marvel Entertainment, Marvel fans, Marvel NFT, nft, Non-fungible Token, Non-fungible token (NFT), Spider-Man, Spider-Man NFTs, Spidey NFTs, Veve App

Image Credits: Shutterstock, Pixabay, Wiki Commons, Marvel Entertainment,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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‘A Lazy Way to Showcase NFTs’ — Mark Cuban’s Lazy.com NFT Platform Integrates With Polygon – Blockchain Bitcoin News


On Thursday, the non-fungible token (NFT) platform and digital art gallery backed by Mark Cuban announced the project has integrated with Polygon. The platform allows anyone to showcase NFTs by leveraging a unique lazy URL to social media profiles, and the integration announcement highlights the protocol is now live on Polygon mainnet.

Lazy.com Joins Polygon

The non-fungible token digital art gallery Lazy.com has announced on Thursday that the protocol is now integrated with the Polygon platform, formally called Matic. The Lazy.com web portal says that the gallery is the “lazy way to show off your NFTs.” The Lazy project is also backed by the Shark Tank co-host and billionaire entrepreneur Mark Cuban. The integration with Polygon coincides with the launch of Polygon Studios. The newly crafted Polygon Studios is basically an NFT-focused gaming realm and metaverse designed to be a “hotbed of digital culture.”

Mark Cuban who is also a believer in Polygon, explained during the integration announcement that the Lazy.com project aims to bolster the NFT industry by making it more “approachable and accessible.” “Lazy.com does exactly as its name suggests — it’s the effortless way to show off your NFTs — designed to showcase NFTs in the same way galleries display art. Simple, easy, lazy,” Mark Cuban, the founder of Lazy.com, said.

Polygon Benefits and Complaints, Polygon Studios’ $100 Million Fund

The India-based cryptocurrency Polygon (MATIC) was specifically crafted to make Ethereum-based transactions cheaper. A number of NFT creators, blockchain games, and NFT marketplaces leverage the Polygon protocol. Well known platforms utilizing Polygon include projects like Opensea, Rarible, Beeple’s NFT platform, and more. Although, Polygon has seen technical issues, network difficulties, problems with Decentraland integration, and people have complained about staking issues.

However, data from Coin98 Analytics shared four different photographs of all the applications that leverage Polygon and the list is quite large. “Can you name an alternative Ethereum Layer 2 ecosystem that is bigger than Polygon?” the analytics provider Coin98 Analytics asks.

While announcing the Lazy.com integration, Polygon detailed that Polygon Studios launched a $100 million fund focused on promoting gaming-related NFT projects. “The studio aims to help web 2.0 game developers integrate web 3.0 elements and NFTs into their platforms,” the company’s announcement notes.

Meanwhile, Shark Tank’s Mark Cuban understands that the NFT ecosystem still has a ways to go but he looks forward to seeing what it produces. “NFTs still have their adoption hurdles, but none are as consequential as transaction fees and efficiency — Polygon’s structured, and easy-to-use scaling solution obliterates these barriers. I’m excited to see how the NFT space develops from here,” Cuban concluded in the Lazy.com integration announcement.

What do you think about Lazy.com integrating with Polygon? Let us know what you think about this subject in the comments section below.

Tags in this story
Blockchain, Cryptocurrency, efficiency, Ethereum, Issues, Lazy.com, Mark Cuban, Network Difficulties, nft, NFT art, NFT collectibles, NFT industry, NFTs, Non-fungible Token, Polygon, Polygon (MATIC), Polygon NFT, Polygon Studios, Transaction Fees

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Social Media Platform Torum Announces Strategic Investment by Huobi Ventures HECO Fund – Press release Bitcoin News


PRESS RELEASE. Torum announces strategic investment by Huobi Ventures, the $100 million venture arm of Huobi Group to foster blockchain adoption and ecosystem expansion.

5th August 2021, Kuala Lumpur, Malaysia — On the eve of the project’s 1st year launch anniversary, social media platform Torum has released its H2 strategic ecosystem expansion plan, prioritizing the construction of a one-stop crypto ecosystem. The plan includes core features that aim to solve the industry’s information asymmetry problems and improve the connection between projects and communities through a social-based ecosystem.

Torum H2 Strategic Ecosystem Expansion Plan

The Torum H2 Strategic Ecosystem Extension plan will include numerous core features, including:

  • Torum NFT Launchpad: The INO platform for projects to issue a set of limited-edition NFTs to the community
  • Torum NFT Marketplace: The first social-infused NFT marketplace with the ability to market NFTs to the users of Torum.
  • Torum Airdrop: A premium section for projects to conduct airdrop to the Torum community
  • Torum News: A one-stop news and information aggregator for projects
  • Torumgram: A bridge that connects Telegram groups and channels into Torum
  • Torum Lounge: An audio-only board to conduct AMA and close-engaging events.

The expansion plan has caught the attention of the Huobi Ventures HECO Fund, which led to the strategic investment of the VC firm on Torum. With Huobi Ventures coming into the fold, Torum will assist in the expansion of the Huobi ecosystem from marketing and community building aspects, particularly in connecting Huobi and HECO-based projects with the Western market.

Yi Feng Go, CEO & Founder of Torum said that:

“Community consensus has always been the largest asset of Torum. However, the vast potential of a social media ecosystem like Torum is yet explored completely at such an early phase. With the support of Huobi Ventures, we are confident that Torum can grow exponentially by bringing onboard HECO-based projects and their communities for the next 6 to 12 months. We are super excited to be working closely with ecosystem partners like Huobi Ventures.”

As part of the strategic investment, Huobi Ventures will provide resource access to exclusive media partners, community building, and project connections for Torum. The resource integration from Huobi will further expand the ecosystem outreach of Torum, which has already accumulated over 64,000 cryptocurrency enthusiasts from over 10 countries, including the U.S, Canada, Latvia, Spain, Germany, France, Poland, Malaysia, etc.

Huobi Ventures and HECO

One of the key focuses of Torum for H2 2021 is to bring onboard quality HECO-based projects to its social media ecosystem. With the support of Huobi Ventures, Torum can provide premium benefits to HECO-based projects including access to the Western market, community building tools, brand exposure, community integration, and more.

Loki, Investment Manager of Huobi Ventures commented that:

“Huobi Ventures HECO Fund strives to expand the Huobi ecosystem and welcome high-quality HECO-based projects like Torum. With the addition of a crypto-centric social media platform to our portfolio, we can utilize the core features of Torum like NFT Launchpad to provide community and resources outreach for the projects on the HECO ecosystem.”

Visit the Torum website to have a glimpse into the future of social media, or keep up to date with all Torum developments through the company’s official Twitter account.

 

About Huobi Ventures HECO Fund

Huobi Ventures is a wholly-owned subsidiary of the world’s second-largest cryptocurrency exchange, Huobi Group is focused on boosting the firm’s investment portfolio and providing long-term support for innovative blockchain projects.

Huobi Ventures HECO Fund mainly invests in upstream and downstream initiatives in the global blockchain industry. In addition to its exchange business, its investments also cover the primary market, secondary market quantitative funds, investment banking, incubators, asset management, wallets, mining, market data vendors, the global community, media, cybersecurity, public chains, DAPP, and platforms, regulation, talent recruiting, training, and research.

 

About Torum

Torum is the world’s first DeFi + NFT integrated social media platform that is specially designed for cryptocurrency users. Backed by AU21, Consensus Lab, DFG, M6, Waterdrip Capital, and 15 other prominent crypto VCs, Torum is now one of the fastest-growing crypto social media platforms with an impressive 20 – 30% monthly user growth rate.

 

Torum Socials

Twitter | Telegram | Medium | Facebook

 

Media Contact Details

Contact Name: Jayson Tan

Contact Email: [email protected]

 

Torum is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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The Idea That The Bitcoin Bottom Is In Is Broadening


Calls for a trip back to $20,000 or even lower were in abundance after Bitcoin collapsed by 50% and sent the market into a bearish state. However, the idea that Bitcoin has bottomed is beginning to broaden. That statement is also a double entendre, referencing a potential chart pattern which further supports the theory.

Here is a closer look at the potential broadening wedge bottom pattern, how the recent market conditions fit, and what to expect if the pattern confirms.

The Case For The Bottom Being In Begins To Build

Bitcoin price collapsed from highs set in Q2 around $65,000 to as low as $28,000 currently. Such a hasty crash that wiped out the entire year’s rally thus far, was enough to turn even the strongest of hands bearish.

But bears have been unable to push the price per BTC any lower than the level stated above. Bulls have been equally as weak, but one side should soon given in. The tug of war and bouncing back and forth through a widening trading range, has caused Bitcoin price action to form a potential broadening bottom pattern.

Related Reading | Five Bullish Monthly Charts That Suggest Bitcoin Will Blast Off

The pattern in question is called a broadening bottom, which is a traditional broadening wedge with a final partial decline before taking off to retest highs. If Bitcoin price can reclaim those highs, the bull market will be back on with even more momentum than before.

bitcoin broadening wedge bottom

Is BTC forming a broadening bottom? | Source: BTCUSD on TradingView.com

Broadening Bottom Pattern Could Be The Boost Bitcoin Bulls Need

Chart patterns come in all shapes and sizes. Some of the most common shapes are triangular or wedge-like, which show price action converging to an apex. Wedges can also expand outwardly, and the trading range within them broaden.

After touching the top trend line for one last time before takeoff, a partial decline finds horizontal support around where the first touch of the trend line occurred. With support retested and unable to push lower, price takes off through the upper boundary.

Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin

Based on the measure rule, the target would be taken from the lowest touch of the bottom trend line to the top, then applied at the point of breakout. This should theoretically take Bitcoin price back to around $60,000, where it will need to prove that the bull run is still in full effect.

Failure to reclaim former resistance and flip it to support, could result in another try for below $28,000 – and with more momentum at their back, bears could ultimately be successful.

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com





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The Bitcoin Voter Block – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides



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Many Bitcoin enthusiasts tend to lean from a significantly libertarian perspective. Many take pride in routing around the government and relish in Bitcoin’s ability to just opt out completely.

Unfortunately for the Bitcoiners not interested in participating in politics, last week, a proposed version of a United States infrastructure bill introduced an existential crisis for Bitcoin and the more general cryptocurrency ecosystem. The bipartisan infrastructure bill, which is a hallmark part of the Biden administration’s first year in office, saw a few last-minute pages added which sought $38 billion in tax revenue by redefining “brokers” within the cryptocurrency ecosystem.



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Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum – Bitcoin News


On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one true, troy ounce of fine gold,” according to Kitco.

Kitco Launches KGLD Token Backed by a Troy Ounce of .999 Gold

In the seventies, Bart Kitner started trading gold with funds he got from a loan and managed to expand his business into a massive precious metals company from a mere $700 investment. The global precious metals (PMs) market, Kitco, is considered an authority when it comes to PMs like gold, platinum, palladium, and silver. The Montreal-based PM company also runs a popular PM-focused website that offers financial news and PM market data.

Now the company is getting into cryptocurrency solutions as Kitco revealed it has partnered with the custodian First Digital Trust, the blockchain provider Tradewind Markets, and tokenization firm Stably. Kitco will launch a token called kitco gold (KGLD) which will translate into a single troy ounce of .9999 fine gold. The Kitco ERC20 tokens will be backed by gold reserves held in Directreserve vaults. The well-known CPA verification firm Cohen & Company will bolster the coin’s attestation process.

Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum

Because Kitco’s token is an ERC20, the firm believes the coin can be easily added to exchanges, wallet platforms, and defi ecosystems. The token’s value is recorded in real-time using the same market value of the spot gold price. John Dourekas, the chief business development officer of Kitco Digital Metals Group, explained on Wednesday that Kitco has been anticipating the release of KGLD.

“We’ve been looking forward to unveiling Kitco Gold, representing a digital receipt of physical gold ownership, which is digitally spendable,” Dourekas said in a statement. “Buyers will be able to access a secure and reliable gold token, the most robust asset class to date. Institutional investors will have a competitive alternative to traditional gold products such as gold ETFs, with the additional benefits of real-time trading and settlement enabled by blockchain technology.”

Gold Tokens Jump 30-Fold Since 2020, Kitco’s Gold Coin Will Face Competition

Kitco’s announcement follows the recent report published by Arcane Research which details that gold-pegged tokens have jumped in value 30x since the start of 2020. The PM dealer’s move also follows the largest increase in inflationary pressure since the 2008 financial crisis. Kitco has further indicated there’s been a trend of traditional financial institutions looking for stable hedges like PMs and crypto-assets.

“Trust and verification are hallmarks of a well-functioning market,” Tradewind Markets CEO Michael Albanese said during Kitco’s gold-backed token launch announcement. “We are pleased to be applying best practices from other asset markets to make gold as an investment asset more secure, accessible, and cost-efficient.”

Kitco’s KGLD creation will face gold token competitors as there are tokenized versions of both troy ounce measurements of gold and grams as well. KGLD will face projects like Tether Gold (XAUT), Digixglobal (DGX), PAX Gold (PAXG), Perth Mint Gold Token (PMGT), Gold Coin (GLC), and many more. In 2020, on a few occasions reports had shown gold-backed tokens were fetching premiums.

What do you think about Kitco’s gold-backed ERC20 token launch announcement? Let us know what you think about this subject in the comments section below.

Tags in this story
crypto assets, Digixglobal (DGX), ERC20, Ethereum, gold, Gold Investing, Gold-backed tokens, KGLD, KGLD tokens, Kitco, Kitco Digital Metals Group, Kitco Gold, kitco gold (KGLD), PAX Gold (PAXG), PM, PMS, Precious Metals, Tether Gold (XAUT), Traditional Finance

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Hard Money Hyperinflation Roman Empire


Almost two thousand years before the early 1920s Weimar Germany hyperinflation, there was the great currency debasement of the Roman Empire.

Image source

Image source

At the turn of the second century, the Roman Empire controlled all of Western Europe, parts of North Africa and the Middle East. Some estimate up to 65-100 million people lived under Roman rule, with 55–65 million as the most accepted range. — approximately 20% of the world population.





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Bitcoin Price Drops 5% As 12k BTC Flow Into Binance


On-chain data shows that shortly after crypto exchange Binance observed Bitcoin inflow of around 12k BTC, price fell by almost 5%.

Huge Bitcoin Inflow To Binance

As pointed out by a CryptoQuant post, inflow of around 12k BTC was seen on Binance, the largest crypto exchange by market volume.

The Bitcoin inflow is an indicator that shows the total amount of BTC transferred to a crypto exchange from a personal wallet.

As investors usually send their crypto to exchange wallets for cashing out, altcoin purchasing, etc., the indicator’s value going up would imply there is some selling pressure in the market.

A strong increase in the inflow metric can have direct effects on the price, which usually shows as a drop just a few hours later.

Related Reading | Fear And Greed: Sentiment Turns Neutral As Bitcoin Stagnates, What To Do?

Now, here is a chart that shows the trend in the value of the BTC inflow for Binance:

Bitcoin Inflow To Binance

The BTC inflow for Binance shot up earlier today | Source: CryptoQuant

As the above graph shows, there was a sharp spike in the Bitcoin inflow for the crypto exchange Binance. This inflow’s value was around 12k BTC, worth around $470.6 million at the current rate.

The chart also displays the curve for  BTC’s price. It looks like just a few hours after this spike occurred, the crypto dropped in value by about 5%.

Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin

And it makes sense as movement of 12k BTC is quite significant, and a spike like this might mean there is some short-term selling pressure in the market.

While this inflow was quite significant, another indicator, the Bitcoin all exchanges netflow, shows that there was outflow of about 19k BTC from all exchanges. This more than makes up for the inflow to Binance, hence the exchange reserve overall still looks to be down.

Bitcoin exchange reserve

After plummeting, the Bitcoin exchange reserve continues to be down | Source: CryptoQuant

BTC Price

At the time of writing, Bitcoin’s price floats around $k, down % in the last 7 days. Over the past month, the cryptocurrency has amassed % in gains.

Below is a chart that shows the trend in the price of the coin over the last 6 months.

Bitcoin Price Chart

BTC's price zig-zags below the $40k resistance level | Source: BTCUSD on TradingView

After enjoying a refreshing period of prolonged uptrend, Bitcoin’s price fell down after peaking at $42k. Now, it seems to be range bound below the $40k mark as the coin can’t seem to break it again.

It’s unclear where the price will head from here. It could either continue to be stuck in this range bound environment below the $40k level, or perhaps it will have a breakthrough soon, and a bull run will ensue as hinted by the Bitcoin bullish crossover.



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Bitfarms Mined 391 Bitcoin 99% Clean Energy July



Bitcoin miner Bitfarms has announced updates on its mining operations, including production and energy mix usage, as well as the company’s HODL strategy for bitcoin. The company has mined around 13 BTC per day with 99% clean energy.

Bitfarms mined 391 new bitcoin during July 2021, the company’s most significant production rate in the year and approximately 96% more than its mining production in January 2021. The miner estimates it is mining between 12.5 and 13.5 BTC per day.

In the first seven months of 2021, the company has mined an aggregated total of 1,748 bitcoin. Bitfarms also shared that it has deposited 1,678 BTC into custody through August 1, 2021, a figure that represents around 96% of the firm’s bitcoin production during this year. Based on the monthly closing price of July, the company has put $69.8 million in bitcoin on its balance sheet.



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