Bitcoin News Thebittimes.Com

Crypto market analysts tend to interpret Bitcoin miners selling their of BTC rewards as bearish, but miners countered this logic in detail at the recent Bitmain WDMS conference. Crypto analysts, traders and anonymous influencer Bitcoin pundits on X (formerly known as Twitter) frequently interpret what Bitcoin miners do with their block rewards as a sentiment gauge for where BTC price might go.  According to the strategy, Bitcoin miner rewards sent to exchanges foreshadows pending sell pressure on Bitcoin price and possibly reflects distress among miners . Elements of this methodology were challenged by an assortment of publicly listed Bitcoin miners at last week’s Bitmain World Digital Mining Summit in Hong Kong. Bitmain WDMS panel on Bitcoin mining and renewable energy. Source: Cointelegraph According to Jeff Taylor, the Core Scientific EVP of Data Center Operations, “Core Scientific might be the poster child for the HODL strategy. We built a 10,000 Bitcoin hoard and we rode it up...

As the world moves toward a Web3-focused future, the debate remains: Do these technologies help or hinder our sustainability goals? Bitcoin (BTC) mining is estimated to emit 65.4 megatons of CO2 annually. This is the conclusion reached in 2021 by a group of climate and economic researchers in Europe in the report “Revisiting Bitcoin’s carbon footprint.” This emission is comparable to the carbon footprint of an entire country like Greece, which emitted approximately 56.6 megatons of CO2 in 2019. Estimated global carbon footprint of the Bitcoin network. Source: Cell.com However, it is worth noting that cryptocurrencies and blockchain technology, when used appropriately, can make a positive contribution to the environment. Recently, the World Economic Forum (WEF) highlighted the potential of blockchain technology as a vital tool in the fight against climate change. In a white paper released on April 25, the WEF shed light on the myriad of advantages of integrating blockchains into the cl...