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Applied Direct Response — ERCOT Study Shows Bitcoin Mining Is Beneficial to the Texas Grid

On Nov. 29, 2022, The Electric Reliability Council of Texas (ERCOT) published a report on seasonal assessment and resource adequacy for the ERCOT region. ERCOT’s study indicates that bitcoin mining…

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Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the…

Continue ReadingBitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs

During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin…

Continue ReadingData Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs

Bitcoin’s Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022’s Largest Reduction

Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction.…

Continue ReadingBitcoin’s Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022’s Largest Reduction

Bitcoin capitulations abound — Data shows realized and unrealized losses at record-highs

Bankruptcies, shrinking profit margins and traders realizing hefty losses are all signs of capitulation from various market participants.

Continue ReadingBitcoin capitulations abound — Data shows realized and unrealized losses at record-highs