Search Results for: glassnode

US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion

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As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s…

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days

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Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still…

While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

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Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second…

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

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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 Bitcoin network is coasting along at 236 exahash per second (EH/s)…

Bitcoin Miners Face a Squeeze as BTC Production Cost Remains Well Above Spot Market Value

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Bitcoin miners are dealing with lots of pressure following the recent difficulty adjustment increase on Nov. 20, 2022, and the leading crypto asset dropping further in value against the U.S. dollar following FTX’s collapse. Statistics recorded this past weekend show that…

Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

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On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin mining machines since the crypto winter started in June. Cleanspark Purchases…

Bitcoin Miner Cleanspark Raises Year-End Outlook by 10%, Firm’s Hashpower Surpasses 5 EH/s

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On October 25, the bitcoin mining operation Cleanspark announced that the firm’s hashrate now exceeds 5 exahash per second (EH/s), a milestone achieved more than two months ahead of the company’s original year-end goals. Cleanspark says it now aims to surpass…

78 Days: Measuring the Extended Crypto Market Downturn Against Prior Bear Markets

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The crypto economy has shed enormous value over the last three months and the leading crypto asset bitcoin is down more than 46% since it’s all-time high (ATH) at $69,044 per unit. The same can be said for a great number…

Monster-Sized Bitcoin Whale Transfers: Blockchain Parser Catches Significant Amounts of ‘Cold BTC’ Moved to Active Exchanges

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Two days ago on November 30, the price of bitcoin (BTC) tapped a high that day reaching $59,250 per unit, but it has since dropped close to 5% in value to just above the $56K region. Onchain statistics indicate that whales…