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The largest bitcoin miner in May sold 63% of the $BTC mined after the halving of $BTC
Mining company Marathon Digital has sold 63% of all the bitcoins (BTC) it has mined since the halving that occurred in late April.
At the end of May, Marathon had $290.4 million in cash and cash equivalents on its balance sheet.
This large volume of BTC sales stood out against the performance of other miners. Riot Platforms, for example, reported no BTC sales in May, while it mined 215 bitcoins. CleanSpark mined 417 BTC last month, but sold only a small fraction of that - just 2.43 BTC.
Miners have been adjusting their activities since the latest bitcoin halving, in which the reward for mining BTC is cut in half every 210,000 blocks, or roughly every four years. The most recent cut occurred on April 20, reducing miners' rewards from 6.25 BTC to 3.125 BTC per mined block.
āWe mitigated the impact of the April halving by increasing the number of blocks mined, resulting in 616 bitcoins, which represents a decline of only 27%,ā said Fred Thiel, chairman and CEO of Marathon Digital.
Marathon Digital mined 170 blocks in May 2024, a 32% increase from April. Bitcoin miners are looking to improve their technical capabilities and efficiency to remain competitive in the face of shrinking rewards. CleanSpark, for example, is said to be āvery active in mergers and acquisitions.ā The company plans to close its recently acquired Wyoming branches in the coming weeks while it looks for āadditional opportunities.ā
Meanwhile, Marathon is exploring overseas expansion opportunities. The company recently announced a partnership with the Republic of Kenya's Ministry of Energy and Petroleum to optimize renewable energy projects across the country. Another move includes a pilot project in Paraguay to optimize its energy mix.
āWe aim to generate 50 per cent of our revenue from abroad by 2028,ā Thiel noted.
Bitcoin miners can help optimize the energy infrastructure by acting as a flexible load that stabilizes the grid.
Mining company Marathon Digital has sold 63% of all the bitcoins (BTC) it has mined since the halving that occurred in late April.
At the end of May, Marathon had $290.4 million in cash and cash equivalents on its balance sheet.
This large volume of BTC sales stood out against the performance of other miners. Riot Platforms, for example, reported no BTC sales in May, while it mined 215 bitcoins. CleanSpark mined 417 BTC last month, but sold only a small fraction of that - just 2.43 BTC.
Miners have been adjusting their activities since the latest bitcoin halving, in which the reward for mining BTC is cut in half every 210,000 blocks, or roughly every four years. The most recent cut occurred on April 20, reducing miners' rewards from 6.25 BTC to 3.125 BTC per mined block.
āWe mitigated the impact of the April halving by increasing the number of blocks mined, resulting in 616 bitcoins, which represents a decline of only 27%,ā said Fred Thiel, chairman and CEO of Marathon Digital.
Marathon Digital mined 170 blocks in May 2024, a 32% increase from April. Bitcoin miners are looking to improve their technical capabilities and efficiency to remain competitive in the face of shrinking rewards. CleanSpark, for example, is said to be āvery active in mergers and acquisitions.ā The company plans to close its recently acquired Wyoming branches in the coming weeks while it looks for āadditional opportunities.ā
Meanwhile, Marathon is exploring overseas expansion opportunities. The company recently announced a partnership with the Republic of Kenya's Ministry of Energy and Petroleum to optimize renewable energy projects across the country. Another move includes a pilot project in Paraguay to optimize its energy mix.
āWe aim to generate 50 per cent of our revenue from abroad by 2028,ā Thiel noted.
Bitcoin miners can help optimize the energy infrastructure by acting as a flexible load that stabilizes the grid.
TON partners with Tether to introduce USDT Tether and the TON Foundation have announced a partnership whose main goal is to make USDT stablecoin available to every user The issuer of the market's most popular steiblcoin and the non-profit organization behind the development of The Open Network (TON) have planned more than 100 integrations for wider USDT adoption on TON. TON is for everyone According to the press release, the business development teams of Tether and the TON Foundation are playing a major role in the project. They are the ones negotiating with local partners and communities around the world. Various payment projects from Africa, Southeast Asia, Europe, the Middle East and Latin America have already joined the platforms. In the coming weeks and months, TON Foundation will announce collaborations with new cryptocurrency exchanges. Through these partnerships, the nonprofit organization wants to provide users with even more opportunities to access and trade Toncoin (TON) and USDT on the TON blockchain. In the announcement, the representatives noted that anyone can contribute to the successful rollout of the integrations. To do so, one needs to stay up to date with updates and utilize USDT on TON with blockchain partners.
"The integration of USDT on TON with over 100 local partners marks an important milestone in our journey to global adoption. With a dedicated team, strategic partnerships, and a community-centered approach, our primary goal in building TON is to change the Web3 landscape. Together, we can make USDT available to every wallet, creating a future where blockchain technology is accessible to everyone,ā the statement said.
Tether included TON among its supported networks in April this year. The decision is in line with the broader strategy of the project, which is increasingly adopting blockchain technology through messenger Telegram. The latter recently switched to paying for advertising in Toncoin. Earlier, the Tonkeeper cryptocurrency wallet, originally created for TON, added āgas-freeā payments in USDT.
"The integration of USDT on TON with over 100 local partners marks an important milestone in our journey to global adoption. With a dedicated team, strategic partnerships, and a community-centered approach, our primary goal in building TON is to change the Web3 landscape. Together, we can make USDT available to every wallet, creating a future where blockchain technology is accessible to everyone,ā the statement said.
Tether included TON among its supported networks in April this year. The decision is in line with the broader strategy of the project, which is increasingly adopting blockchain technology through messenger Telegram. The latter recently switched to paying for advertising in Toncoin. Earlier, the Tonkeeper cryptocurrency wallet, originally created for TON, added āgas-freeā payments in USDT.
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REMINDER: Most celebrity coins go to 0 most of the time so please remember to do your own research before investing
#DYOR
#DYOR
The U.S. Debt continues to grow
In April, the U.S. national debt reached a new record of $34.6 trillion. Over just four years, the total debt has increased by 47%, or $11 trillion. As a result, each U.S. taxpayer now bears $267,000 in federal debt.
If current trends continue, the U.S. debt could double in just eight years, rising from $20 trillion in 2017 to $40 trillion by 2025. If the Federal Reserve keeps interest rates unchanged, the cost of servicing this debt could reach $1.6 trillion by the end of the year.
$BTC is the solution.
In April, the U.S. national debt reached a new record of $34.6 trillion. Over just four years, the total debt has increased by 47%, or $11 trillion. As a result, each U.S. taxpayer now bears $267,000 in federal debt.
If current trends continue, the U.S. debt could double in just eight years, rising from $20 trillion in 2017 to $40 trillion by 2025. If the Federal Reserve keeps interest rates unchanged, the cost of servicing this debt could reach $1.6 trillion by the end of the year.
$BTC is the solution.
āļøPolymarket forecast has Trumpās advantage growing to 17% over Biden to win the 2024 #USAElection
#Write2Earn!
#Write2Earn!
Nancy Pelosi Earns Over $2,500,000 from Nvidia Trade
Nancy Pelosi has already made a profit of over $2,500,000 from her deal with Nvidia. She bought shares right before they began to rise sharply, earning a 110% return since the purchase. This profit is equivalent to 14 of her annual salaries.
#Bitcoinā is the future
Nancy Pelosi has already made a profit of over $2,500,000 from her deal with Nvidia. She bought shares right before they began to rise sharply, earning a 110% return since the purchase. This profit is equivalent to 14 of her annual salaries.
#Bitcoinā is the future
Elon Musk's xAI valued at $24 billion after fresh funding
(Reuters) -Elon Musk's AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
The money will be used to take xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.
"There will be more to announce in the coming weeks," Musk said in another X post, in response to the announcement of the funding.
Companies like Microsoft (NASDAQ:MSFT) backed OpenAI and Alphabet (NASDAQ:GOOGL)'s are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
#Write2Earn!
(Reuters) -Elon Musk's AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
The money will be used to take xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.
"There will be more to announce in the coming weeks," Musk said in another X post, in response to the announcement of the funding.
Companies like Microsoft (NASDAQ:MSFT) backed OpenAI and Alphabet (NASDAQ:GOOGL)'s are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
#Write2Earn!
Market and Elections: How the S&P 500 Index Has Performed in Election Years
Over the past nearly 100 years (from 1928 to 2016), the S&P 500 index has shown an average growth of 11.28% in election years. Here's a breakdown based on which party won:
Republican victories: On average, the S&P 500 grew by 15.3%.
Democratic victories: The index saw an average growth of 7.6%.
Notably, the year 2020 is not included in the table, but it ended with approximately 16% growth.
Current Year Performance:
As of now, in this election year, the S&P 500 has increased by about 10.8%.
#Write2Earn!
Over the past nearly 100 years (from 1928 to 2016), the S&P 500 index has shown an average growth of 11.28% in election years. Here's a breakdown based on which party won:
Republican victories: On average, the S&P 500 grew by 15.3%.
Democratic victories: The index saw an average growth of 7.6%.
Notably, the year 2020 is not included in the table, but it ended with approximately 16% growth.
Current Year Performance:
As of now, in this election year, the S&P 500 has increased by about 10.8%.
#Write2Earn!
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