Cryptocurrency

Mining Bitcoin: 5 highlights of the week

This week, the developments regarding the mining Bitcoin, have underscored the importance of this business futurist around the world. On this occasion, we present the 5 key points of the mining of Bitcoin that were in the news in the past 7 days.

It should be noted that the mining industry continues to develop by leaps and bounds. At the same time, the equipment manufacturers and ASIC have been the epicenter of major turbulence, as in the case of firm Canaan Creatives.

On the other hand, you can also highlight problems in terms of these companies on the New York stock exchange. Thus, the above-mentioned Canaan, fails to improve the status of its shares on Nasdaq. A Similar situation faced by another manufacturer, Ebang.

Likewise, among the 5 most important points in mining, able to highlight the gains of Ethereum during June. The percentage of extraordinary income of the miners of ETH reached the 17% that month.

Mining Bitcoin in context

The week ending allowed to continue witnessing a major boom in the business of mining Bitcoin. Shipments of the new equipment and the increase of the Hash Rate of the main criptomoneda, has made growing expectations for a possible increase of the price.

Apart from the investments of large firms, as Core Scientific, which is highlighted in CriptoTendencia, the boom also reaches out to small firms. This has aroused great interest, since the diversification of the shop would be able to give great stability to the ecosystem of Bitcoin.

It is important to note that, the decentralization of the mining Bitcoin continues. Although China remains the most important epicenter of this business, most of the purchases of equipment of last generation are reported in the united States.

Long-term, the devolution of the mining business could mean great news for the longevity and strength in the long term of Bitcoin. According to statistics from the Centre for Alternative financing of the University of Cambridge, the asian nation occupies 65% of the power of hash total.

5 key points of the mining of Bitcoin this week

Level of volatility of Bitcoin had not been as low since 9 months.Canaan Creatives might be going through serious internal problems of leadership.Mining of Ethereum, gains of 17% during the month of June.Ebang and Canaan Creatives, struggle to improve the status of its shares on Nasdaq.Authorities in Venezuela seized more than 300 mining Bitcoin.Fall of the shares of the mining equipment manufacturer Bitcoin Canaan Creatives are kept low. Added to this, the recent internal problems, which were among the 5 points news of the week. Source: Investing.com

Problems on the Nasdaq exchange and internal problems

I enter the 5 highlights of the week in regards to mining Bitcoin, the main character was Canaan Creatives. The manufacturer china announced major changes in its policy, of which they were removed 4 officials of high rank. Some media pointed out that a bitter internal power struggle will be developed in the company.

At the same time, Canaan Creatives, fails to raise its head in the bag in new york. The stocks in Nasdaq are in a deplorable state since the may 14, immediately after the Halving. On Friday, the contributions of this company closed down $1.86.

Similar situation is the one that presents the other major manufacturer, Ebang. This signature, along with Canaan, are the only manufacturers of ASIC for mining Bitcoin which is traded on Nasdaq. Both with a low performance.

Volatility index of Bitcoin is the lowest since 9 months ago. Source: Binance

Mining seized in Venezuela

To the south of Venezuela, specifically in the Bolivar state, the authorities of the oil-rich country announced the seizure of more than 300 mining equipment. It is stressed that these are the first computers confiscated in this year 2020. According to authorities, the machine model AntMiner S9 would not have the permissions of the bodies in charge of the mining business.

As is known in Venezuela, the mining of Bitcoin is a legal business. However, the same is closely controlled by the Superintendencia Nacional de Criptoactivos and Related Activities (SUNACRIP).

The permission of the lacking of the owners of the mining, would have been the license RISEC. At the end of last year 2019, there was another seizure in the middle of the country for the identical reason.

Data to be taken into consideration

The mining seized in Venezuela, would have a value of about $70.000 dollars.Shares of Canaan Creatives on Nasdaq, do not exceed the 2% from the Halving of the month of may.The income from the mining of Ethereum during the month of June amounted to 17%, 7 points above to what was received during may.The income per transaction in Bitcoin, fell 4% in may and 10% in June.To the end of the year, the network Blockchain of Ethereum will suffer a radical change, when you change the PoW for the PoS.Price range of Bitcoin remain between $8,800, and $9.800 USD, with some sporadic interruptions.From the month of April, the volatility of Bitcoin has fallen by 80% according to Binance.

Reliable sources

The information of this content has been taken from reliable sources which are detailed below:

1 – professional Management of content by the authors of CriptoTendencia.
2 – external Sources: Decrypt.com, Coindesk.com, Investing.com, Binance.com and Theblockcrypto.com.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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