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Swan Bitcoin Claims Ex-Employees 'Stole' Its Mining Business at Tether’s Direction.
Swan Bitcoin has filed suit against a group of former employees and consultants, alleging they “hatched and executed a ‘rain and hellfire’ plan” to "steal" its lucrative bitcoin mining business with the help of Tether, Swan Bitcoin’s one-time ally and fundraising partner.
Bitcoin Core dev receives grant for maintaining BIP repository.
Investment fund Maelstrom has awarded a grant to a Bitcoin Core developer for maintaining the Bitcoin Improvement Proposals (BIP) repository. The grant was given to Jon Atack, a senior developer at Bitcoin Core who started contributing in 2019.
BlackRock's head of crypto doesn’t see Bitcoin as a ‘risk on’ asset.
Equities, unemployment, job numbers, or manufacturing really have no connection to Bitcoin, argues BlackRock’s head of digital assets.
**Robbie Mitchnick suggests Bitcoin is closer to a risk-off asset. Source: Bloomberg**
The 5 Month Halving Hangover: Bitcoin Miners Continue to Face Revenue Struggles.
Metrics reveal that although BTC prices climbed 6.97% in September, Bitcoin’s hashprice—the anticipated daily revenue from 1 petahash per second (PH/s)—remains ultra-low.
Bukele States El Salvador Will Self-Finance 2025 Budget, Won't Issue Even 'a Cent' of Debt.
President Nayib Bukele revealed that he would present a self-financed budget proposal to the Legislative Assembly of El Salvador, meaning that the government will not issue debt to pay for its operations in 2025. Bukele stressed that this would be the first time this happened in decades, highlighting the relevance of independence and self-sufficiency for the country.
MicroStrategy announces third debt offering of 2024, plans to raise $700M
The proceeds will be used to pay off $500 million in existing debt and to purchase more Bitcoin. MicroStrategy currently holds 244,800 BTC.
Lawmakers Call on Top 10 Bitcoin ATM Firms to Address Crypto Fraud Concerns.
Seven Senate Democrats have called on the 10 largest bitcoin ATM operators in the U.S. to address growing crypto fraud that targets elderly Americans. The lawmakers explained that scammers are reportedly exploiting the anonymity of cryptocurrency transactions to steal from seniors through bitcoin ATMs.
Norway town campaigns to close Bitcoin mine, electricity costs jump 20%.
The Noranett network manager estimates that, following the Bitcoin mining closure, the average household in Hadsel could face an additional annual cost equivalent to $280 USD.
MicroStrategy adds 18,300 Bitcoin, now holds $14.14B worth of BTC.
MicroStrategy’s $1.11 billion Bitcoin purchase was funded by selling over 8 million company shares through a sales agreement.
MicroStrategy, a publicly traded business intelligence and software company, has announced that it acquired approximately 18,300 Bitcoin between Aug. 6 and Sept. 12.
Bukele advisers said BTC adoption was ‘complete PR move’ — TIME reporter.
According to a TIME Magazine correspondent, El Salvador President Nayib Bukele used Bitcoin to “change the narrative” on the country’s international perception.
Bitcoin in ‘seasonal slog’ with slim chance of short-term price catalysts: NYDIG.
“Potential upcoming near-term catalysts for Bitcoin are sparse at the moment,” says NYDIG head of research Greg Cipolaro.
Bitcoin investors should brace themselves for a “seasonal slog” in September, with the month historically providing the worst average returns, says Bitcoin financial services platform NYDIG.
*September’s mean monthly losses for Bitcoin since 2011 stand at -5.9%. Source: NYDIG *
Bitcoin ETFs need time to be ‘instrument of adoption’ — Bianco Research CEO.
Bianco Research CEO Jim Bianco says the next Bitcoin halving in 2028 and significant development of on-chain tools are needed for wider ETF adoption.
Venezuelan Opposition Leader Proposes Establishing a Bitcoin Reserve.
Maria Corina Machado, head of the political coalition that contests the victory of Nicolas Maduro in Venezuela, has proposed establishing a bitcoin reserve for the country. Machado stated that bitcoin represented a lifeline for many Venezuelans, that protected their wealth from rampant hyperinflation and announced a bitcoin donation campaign to help them in their democratic struggle.
Canadian Court Orders Man to Repay $1.2 Million in Bitcoin Loan Dispute.
A court in British Columbia, Canada, has ordered Daniel Tambosso to repay Hung Nguyen $1.2 million for a loan of 22 bitcoins made in 2021. Nguyen, a Canadian real estate agent, claimed the loan constituted his entire savings, and Tambosso’s failure to repay has severely impacted his finances and mental health.
Scientific paper argues Bitcoin mining can reduce methane emissions
According to a United Nations report, Methane gas runoff is “80 times more harmful than CO2 for 20 years after it is released.”
A new peer-reviewed scientific paper, titled An integrated landfill gas-to-energy and Bitcoin mining framework, appearing in the Aug. 29 edition of the Journal of Cleaner Production, demonstrated how Bitcoin mining could reduce methane emissions.
*A breakdown of the energy chain resulting from LFGTE. Source: Science Direct*
Mt. Gox and US gov’t could introduce $15B Bitcoin selling pressure
Bitcoin’s crabwalk could extend into September as Mt. Gox and the US government threaten to add nearly $15 billion worth of additional selling pressure.
Bitcoin’s sluggish momentum could carry over into September as Mt. Gox and the United States government could introduce nearly $15 billion worth of additional selling pressure.
National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining Operation. The National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems.
Bitcoin Miner Bitdeer Unveils $150M Convertible Notes Offering With 8.5% Yield. Bitdeer Technologies Group has set the stage for a $150 million convertible notes offering, featuring an annual interest rate of 8.5%. The deal is scheduled to wrap up on Aug. 20, 2024. This move aligns with a broader trend in the bitcoin mining sector, where firms have collectively secured $2.1 billion through stock offerings since the second quarter.
Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s Profits. With the first half of August in the rearview mirror, it’s clear that bitcoin miners are facing a challenging month, having only accumulated 36.36% of the total revenue they made in July. A combination of bitcoin’s price fluctuations and reduced onchain fees has left miners in a much tighter spot.
Goldman sachs becomes third largest holder in Blackrocks Bitcoin ETF with $238 million investment. Goldman Sachs, one of Wall Street‘s financial giants, has revealed in its latest 13F filing with the SEC that it holds a significant investment in BlackRock‘s iShares Bitcoin Trust (IBIT).