Miners across the U.S. powered down over the weekend as a powerful storm swept across North America.
The Bitcoin mining hashrate, a measure of computing power on the blockchain, dropped about 100 exahash per second (EH/s), or 40%, to 156 EH/s, between Dec. 21 and Dec. 24, data from BTC.com show. It returned to about 250 EH/s as of Dec. 25.
The practice, known as curtailment, is touted as a way for miners to help electricity grids. They miners' steady demand that ensures power producers are bringing in revenue to offset costs, but can power off when demand from other sources is high, such as during winter storms.
The U.S. and Canada have been hit by an arctic storm that sent temperatures as low as -50°F (-45°C) in the western U.S. state of Montana, according to the BBC, and covered western New York state with as much as 43 inches of snow. At least 37 people died as result of the storm, CNN reported.
Foundry USA, the biggest mining pool in the U.S., lost more than half of its hashrate on Dec. 23 – the biggest loss of any major pool – according to statistics from information platform Mining Pool Stats. Foundry is owned by CoinDesk’s parent company, Digital Currency Group.
Some of the U.S.’ biggest miners also curtailed operations. These included Riot Blockchain and Core Scientific, which is undergoing Chapter 11 bankruptcy procedures. In Texas, 99% of industrial scale bitcoin mining load was turned off at 6 a.m. on Saturday, Lee Bratcher, the founder and president of industry group Texas Blockchain Council, said in a LinkedIn post.
Dennis Porter, who advocates for the industry through non-profit group Satoshi Action Fund, said that the miners’ curtailment is proof that they are supporting the electric grid.
On the other hand, Denis Rusinovich, a Europe-based miner, tweeted that the big drop in computing power is “Another confirmation that bitcoin's geographical diversification is vital.”
The phishing scheme used a web of over 500 fraudulent websites to extract key information from NFT users during the minting process.
Crypto lender Nexo insists it is still in talks with rival Vauld over potential acquisition of the Singapore-based company.
The two started negotiations earlier this year and signed an initial agreement in July.
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Bitcoin and Ether changed little on Monday morning, along with nearly all other non-stablecoin top 10 cryptocurrencies by market capitalization.
This year, heavy industry-wide losses from Bitcoin to the now-collapsed FTX exchange drove crypto fans to seek refuge in humor.
DeGods will bridge over to Ethereum while its sister project Y00ts will move to Polygon with a grant from the layer 2's partnership fund.
Bitcoin and Ethereum inched up in Monday afternoon trading in Asia. Most other non-stablecoin top 10 cryptocurrencies by market capitalization were little changed
As extreme weather conditions left more than one million without power on Friday, several U.S.-based Bitcoin miners have paused operations.
(Bloomberg) — Investors will be looking to the outlook for inflation and China’s rapid shift from Covid Zero as markets open in Asia on Tuesday.Most Read from BloombergIran Compels Jet to Land, Removes Family of Football Icon Ali DaeiStocks Rise, Currencies Mixed in Cautious Trading: Markets WrapChina to End Quarantines for Inbound Travelers as ‘Covid Zero’ DismantledWorld Economy Is Headed for a Recession in 2023, Researcher SaysElon Musk Warns Against Margin Debt on Risk of Market ‘Mass Panic
The heavy selling pressure might have exhausted for Harley-Davidson (HOG) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Toyota Motor Corp reported on Monday a 1.5% rise in November global vehicle output, reaching a new record of 833,104. Domestic production slid 3.3% to 266,174 vehicles, while overseas output rose 3.8% to an all-time high of 566,930 for the month. Global sales and production in November exceeded last year's levels due to solid demand, particularly in North America, and a recovery in parts supplies that had been impacted by COVID-19 slowdowns, Toyota said.
In this piece, we will take a look at the 17 biggest energy companies in the U.S. For more companies, head on over to 5 Biggest Energy Companies in the U.S. America is one of the world’s most industrialized regions, with the largest economy in nominal terms. This also makes it one of the world’s […]
(Bloomberg) — US natural gas supplies are still constrained after wells and pipes froze due to extreme cold, while some recovery seems to be underway. Most Read from BloombergIran Compels Jet to Land, Removes Family of Football Icon Ali DaeiStocks Rise, Currencies Mixed in Cautious Trading: Markets WrapChina to End Quarantines for Inbound Travelers as ‘Covid Zero’ DismantledWorld Economy Is Headed for a Recession in 2023, Researcher SaysElon Musk Warns Against Margin Debt on Risk of Market ‘Mas
Permafrost and ice wedges have built up over millennia in the Arctic. When they thaw, they destabilize the surrounding landscape. Michael Robinson Chavez/The Washington Post via Getty ImagesAcross the Arctic, strange things are happening to the landscape. Massive lakes, several square miles in size, have disappeared in the span of a few days. Hillsides slump. Ice-rich ground collapses, leaving the landscape wavy where it once was flat, and in some locations creating vast fields of large, sunken
Toyota's president is among a "silent majority" in the auto industry with an opinion on transitioning to all-electric vehicles.
Although it is far from the winter storms, flight delays and cancellations stranded thousands at San Diego International Airport on Sunday. Over 5,000 flights have been cancelled as of noon Eastern time on Monday. (Dec. 26)
Get ready for a winter storm, Bay Area! Rain arrives Monday evening with the heaviest rainfall in the overnight hours. Tuesday's morning commute will be messy and slow, with possible flooding on roads.
Living on a fixed income during retirement doesn't mean you have to settle for living somewhere that doesn't meet your needs. While it might seem difficult to find a place to retire that is affordable…
Another round of winter weather pushed through Middle Tennessee Monday morning.
