‘Golden age’ for Bitcoin mining shows surging hashrate and higher profits

    Bitcoin hashrate triples since June 28 as miners are coming back online after China’s crackdown while surging Bitcoin price makes the mining business wildly profitable. Bitcoin topped $50,000 on Monday, benefiting from simultaneous supply chain shortages and a crackdown from Chinese regulators – putting Bitcoin mining on par with profits near the coin’s April all-time-high….

    SynFutures launches DeFi futures to hedge Bitcoin mining risks

    Decentralized derivatives exchange SynFutures launched the DeFi futures, letting miners hedging against Bitcoin mining difficulty and all the factors affecting their mining returns. SynFutures announced a new product called Bitcoin Hash Rate Futures that uses the mining difficulty of Bitcoin as a basis to open long or short positions. The new offering is described as…

    Mining becomes more profitable, as China’s crackdown leads to Bitcoin algorithm adjustment

    Bitcoin mining difficulty has seen its biggest downward adjustment in history as it drops 28%. More than 54% of Bitcoin’s hashrate, which reflects the collective computing power of miners around the world, has gone offline since its peak in May amid China’s crackdown against the crypto industry. Miners, who are still active, have to make…