miner

According to blockchain data, the lucky miner processed block number 867,118 at 4:18 a.m. ET. The block contained a total of 3,285 transactions, and the miner received 3,329 BTC, or a total of $222,455, as a reward for his work.

The #miner responsible for processing the block was Solo CK Pool, which usually aggregates the hashrates of smaller miners, but only the miner responsible for resolving the block gets rewarded.
#Bitcoin blocks are created roughly every 10 minutes and are usually mined by large #mining pools that pool their computing power to get the best chance at a block reward. Currently, the reward for successfully mining a block is 3.125 #BTC , after it was halved for the first time in four years on April 20.
n n Over the years, mining has become increasingly complex as the size and security of the network has grown. Recently, bitcoin's hash rate reached an all-time high of 769.8 EH/s. Currently, Chinese company Antpool and ViaBTC (the mining pool that mined the first block after bitcoin's recent halving) control 38% of the bitcoin network's total hash rate. However, it is not uncommon for a lone miner to find a block, an unlikely event that is directly related to the miner's ability to solve complex cryptocurrency puzzles on the network.
Last month, another lone miner hit the jackpot by solving 860,749 blocks for a reward of 3,169 BTC.
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On October 14, the Zilliqa team announced that a community vote approved a plan to halve blockchain miner rewards.

As a result, as part of the plan to move to #proof-of-stake in #Zilliqa 2.0, the network has implemented a mechanism to cut #miner payouts by 50% per month.
In Zilliqa 2.0, the network will fully transition to proof-of-work, and miners will be rewarded for protecting the network. This next milestone will turn Zilliqa into a proof-of-stake (PoS) #blockchain , similar to how Ethereum (ETH) merged.
As we get closer to the platform upgrade, payments to miners will be reduced, which will benefit validators and miners; ZIL miners will switch to staking during this period to support the network.
From September 28 to October 12, GZIL held a vote on the proposal. According to the blog, 97% of those who voted approved the vote, which ended on October 12.
As a result, miners will receive 22.25% of the originally planned incentives in October, 20% in November and 12.5% in December.
According to the Zilliqa team, the additional ZIL tokens received by miners before the halving will be used for other community projects. These include investment funds and incentive systems developed by the community.
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Bitcoin mining reserves have dropped to their lowest level since the start of the year, indicating a rising trend of coin sell-offs by miners.Bitcoin has surged to $70,700, marking its highest price in nearly two weeks.
Analyzing the three-day chart, Bitcoin’s Relative Strength Index (RSI) and Money Flow Index (MFI) stand at 57.72 and 40.95, respectively. The combined readings of these momentum indicators suggest that while there is an increase in buying activity, notable selling activity is also present in the market.
Data from CryptoQuant reveals that Bitcoin’s [BTC] mining reserves have dropped to their lowest level since the beginning of the year.
This metric measures the amount of Bitcoin held in miners’ wallets. It indicates the reserves that miners have yet to sell. As of the time of writing, 1.81 million BTC, worth $125 billion at current market prices, is held in miners’ wallets. A decrease in BTC mining reserves indicates that Bitcoin miners are distributing their coins to take profits or cover mining costs. Data from CryptoQuant shows that after a prolonged decline, BTC mining reserves began to trend upwards on April 8, as the market anticipates the fourth Bitcoin halving event scheduled for April 19.

Following the halving event, this metric swiftly climbed to a peak of 1.82 million BTC on April 23, before resuming a downward trend. Since then, the amount of BTC held by miners has decreased by 1%.
Interestingly, mining activity on exchanges has declined over the past three months.According to CryptoQuant, the flow of BTC from miners’ wallets to exchanges (assessed using a 30-day moving average) has dropped by 48% since reaching a year-to-date high of 11,853 BTC on March 27. However, this doesn’t necessarily mean miners aren’t selling their coins. They might be selling BTC through over-the-counter (OTC) markets rather than directly on exchanges.
They may also be engaging in peer-to-peer transactions, selling directly to buyers without using exchanges.

Article in this post:A federal judge in Texas has put the SEC's case against bitcoin miner Geosyn on hold after federal prosecutors accused the company's executives of fraud.Geosyn's CEO and COO stole investor funds in exchange for buying mining equipment and allegedly spent them on luxury trips, watches and a Las Vegas wedding.

the SEC agreed to freeze the case after the defense argued that President Trump's new #cryptocurrency policy could change the SEC's position.
A federal judge in Texas, US, has put the SEC's case against #bitcoin #mining and hosting company Geosyn Mining LLC on hold after federal prosecutors filed criminal charges against three of the company's executives.
CEO Caleb Ward, COO Jeremy McNutt and former executives Jeremy McNutt and former sales manager Jared McNutt are accused of misusing customer funds and using investor funds for personal luxuries instead of mining equipment
the decision came after Ward and Jeremy McNutt appeared in court Thursday to face the charges. Prosecutors allege that the Geosyn executives engaged in ponzi-like operations and wire fraud under the guise of mining cryptocurrency.
the U. S. Securities and Exchange Commission initially opposed a stay on the lawsuit, but after reviewing new legal arguments from Ward's team, it agreed. According to court documents released this week, Geosyn executives made big promises to customers. Investors were told that their money would be used to buy and operate a bitcoin #miner and that profits from the machine would be returned to them. Instead, according to the criminal complaint, the funds were diverted for personal use.
According to prosecutors, Ward, Jeremy McNutt and Jared McNutt used the funds to finance their lavish lifestyles instead of buying mining equipment. According to DOJ documents, the three spent customers' money on Las Vegas weddings, trips to Disneyland, luxury watches and "business trips" to Miami, and spent thousands of dollars at restaurants and nightclubs.

estors. When customers expected profits from mining, Geosyn used funds from new customers to pay old customers, creating the illusion that the business was profitable.

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#CryptoMarketTrends

In July, the Kheavyhash proof-of-work (PoW) cryptocurrency mining algorithm, used by the crypto asset kaspa (KAS), held the top spot in terms of profitability among consensus algorithms. Back today, the Blake3 algorithm is leading the way, with alephium (ALPH) miners reaping an estimated $40.53 in daily profits.
Blake3 Leads PoW Mining, Followed by Scrypt, Kheavyhash, SHA256, and Eaglesong