Toronto-based Bitcoin mining company Bitfarms reported a total revenue of $42 million, marking a 16% decline quarter-over-quarter. This decrease is attributed to the reduction in block rewards resulting from the BTC halving event on April 19, 2024. Bitfarms reported a net loss of $27 million, or $0.07 per share, which includes a $1 million non-cash
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Santiment, the cryptocurrency market intelligence platform, recently unveiled the top 10 digital assets with the most notable development activity over the last 30 days. Leading the list is Internet Computer (ICP), with an overall score of 570.1. ICP is the second-largest digital asset in the Artificial Intelligence (AI) realm, boasting a market capitalization of nearly
Bitcoin’s price has stabilized over the weekend, with the asset hovering around $61,000. This comes after a tumultuous week that saw the primary cryptocurrency plummet to $49,500, its lowest position in six months. However, Bitcoin managed to stage a recovery and surged to almost $63,000 by Friday morning, reclaiming over $13,000 in value in less
European investment company CoinShares recently announced impressive financial results for the second quarter of 2024. The company’s revenue more than doubled compared to the same period in 2023. According to the earnings report, CoinShares achieved a revenue of £22.5 million ($28.5 million) in Q2 2024, showing a 110% year-over-year growth from the £10.7 million ($13.5
In a recent video posted on his YouTube channel, crypto analyst Benjamin Cowen delved into the potential consequences of the re-emergence of the death cross indicator on Bitcoin’s chart. With the $62,000 price level now playing a critical role in Bitcoin’s price trajectory, the crypto market is closely monitoring whether Bitcoin can hold above this
The past week was characterized by volatility in the cryptocurrency market, with spot Bitcoin and Ethereum ETFs experiencing fluctuations in inflows and outflows. Starting off on a negative note, the spot Bitcoin ETFs witnessed significant outflows, with approximately $240 million leaving the eleven funds. This trend continued into the new week, with $168.4 million being
In the late 1990s, investor Charlie Munger famously stated, “The first $100,000 is a b——, but you gotta do it.” He emphasized the importance of reaching that milestone no matter what sacrifices needed to be made. Fast forward to today, the Bitcoin economy has seen over 450,000 BTC addresses holding Bitcoin worth $100,000 or more,
Celsius, a company that filed for bankruptcy two years ago, is now suing Tether for what they claim was the wrongful liquidation of over $800 million worth of BTC. According to the lawsuit filed in the US Bankruptcy Court for the Southern District of New York, Celsius alleges that Tether violated their contract by unfairly
The recent conclusion to the legal battle between Ripple and the SEC resulted in a much smaller fine than initially requested. The U.S. District Court Judge made a decision to impose a fine slightly above $125 million, as opposed to the $2 billion fine sought by the SEC. This decision was met with a positive
Delving into the realm of cryptocurrency was not the initial plan for Opeyemi, but it has become a captivating journey for him over the past two years. As he immerses himself in the digital asset industry, Opeyemi takes pride in unraveling the complexities of blockchain technology and staying updated on the latest trends in the