Data: Yahoo Finance; Chart: Axios Visuals A major publicly-traded crypto mining operator says its cash reserves might not last for long, alarming investors about its solvency. The firm warned that it could, among other things, file for bankruptcy. Driving the news: Shares of Core Scientific plunged roughly 75% Thursday morning to a low of about 25 cents, making it the year’s biggest loser of major publicly-traded U.S. bitcoin miners. What’s happening: Core Scientific said that the combination of depressed bitcoin prices and heightened electricity costs, plus the ongoing litigation with Celsius Network, has rendered it unable to make debt payments. […]

Bitcoin It has been a tough year for crypto miners who had to sell their coins to cover their costs and fund expansion as well as for the repayment of debts. But this trend appears to be continuing into the third quarter of the year for some. Bitcoin price successfully broke out before facing rejection near the $25,000 level. Since then, it has been on a downtrend. This has resulted in mounting sell pressure on Bitcoin miners. However, during the brief upswing in early August, they managed to book some profits by selling their tokens. According to the Glassnode data […]

Bitcoin miners’ balance has reached a four-year high. According to Glassnode’s latest data, the figures have surpassed 1,845,303 BTC. Bitcoin Miners Hodling Again From the great Chinese migration in 2021 to the ongoing bear market, the miners of the BTC network went through many challenges, including a shift in profitability. However, it appears that they are “hodling” again. The trajectory for the total supply held in miner addresses has been consistently upwards since the beginning of the year despite minor setbacks along the way, as per the data. 📈 #Bitcoin $BTC Miners’ Balance just reached a 4-year high of 1,845,303.361 […]