Bitcoin News Thebittimes.Com

On October 11, the publicly-listed bitcoin miner Cleanspark announced that it has completed the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hashrate of over 4.7 exahash per second (EH/s). Cleanspark Hashrate Moves Closer to 5 Exahash, Firm Obtains 6,500 Mining Rigs From the Facility Acquisition Cleanspark (Nasdaq: CLSK) revealed on Tuesday that the mining firm has finished the acquisition of Mawson’s Georgia-based bitcoin mining facility located in Sandersville. The acquisition, Cleanspark says, included 6, 500 mining rigs or roughly 560 petahash per second (PH/s) of hashpower. According to Cleanspark, the Sandersville site is the publicly-listed bitcoin miner’s fourth facility in Georgia. The other locations Cleanspark operates are located in Washington, College Park, and Norcross. “Mawson has built a world-clas...

  This week in the Cryptoverse: bitcoin was showing bullish signs, Bitcoin hashrate reached a fresh all-time high, despite the market downturn, OpenSea reported $144.5 million in fees for Q3, and Tether said a majority of its holdings are in the form of US treasuries. Bitcoin miners are selling 50% less BTC compared to last month signaling a more optimistic outlook on the future, Peter Brandt said BTC price has a 50% chance to drop to $0, Sam Bankman-Fried argued that the coming months could see crypto pegged to the general outlook for the macro environment, Mike Novogratz forecasted a bullish takeoff for BTC once the Fed eases down on its aggressive rate hikes, and Bitcoin billionaire Michael Saylor got into a Twitter spat with gold bug Peter Schiff. Binance opened two offices in Brazil as its team size doubled, WazirX laid off about 40% of its employees citing a trading volumes drop due to bear market and regulations, and Bitwise rolled out a new Web3 ETF BW...

On 3 October, Bitcoin’s hashrate stood at 224.48 EH/s. It jumped to 266.9 EH/s yesterday, but then fell back to 244.3 EH/s. On Wednesday, however, it rebounded and went on to clinch a new all-time high. JUST IN: #Bitcoin hashrate reaches a new all-time high of 302.56 EH/s. — Watcher.Guru (@WatcherGuru) October 5, 2022 Per CoinWarz’s data, at block number 757,147 Bitcoin’s hashrate reflected an ATH value of 302.56 EH/s. At press time, yet again, another minor pullback was noted as the metric’s reading was down to 291.46 EH/s. Source: CoinWarz Impact on Bitcoin miners On one hand, a rising hashrate indicates that the network is becoming more secure. But on the other, it puts pressure on miner profitability numbers. The revenue earned per Exahash by Bitcoin miners has been in a persistent and long-term downtrend. As illustrated below, the BTC-denominated reward has been hovering around its all-time low of 4.06 BTC per EH per day. The same tr...