Coin Metrics: The State of Bitcoin Mining in Q2 2024
This week’s “Network Status” report once again examined the field of Bitcoin mining, continuing our quarterly updates on the state of stakeholders in proof-of-work. Since the Bitcoin halving in April, mining profits have been under pressure due to stagnant Bitcoin prices and a weak fee market, despite some relief in income from short-term on-chain congestion. Many mining companies are diversifying their business, not just limited to mining, but repositioning themselves as general infrastructure providers, attempting to secure hosting contracts for high-energy-consuming AI applications. At the same time, the momentum of chip efficiency improvement is unabated, forcing miners to consider whether to continue using old ASIC hardware or to undergo a comprehensive upgrade of mining machines. In this report, we will delve into each of these factors, evaluating the health of the mining industry beyond Bitcoin price performance.
Link Abstract: How to Solve the Two Major Problems in the Cryptocurrency World
We have tried methods such as interoperability, cross-chain, and multi-chain, but have not succeeded. Worse still, most of these approaches have brought about more fragmentation issues. The answer to solving these problems is link abstract.
Bitcoin ETF Performance 5 Months After Launch and Comparison with BlackRock Gold ETF
The Bitcoin spot ETF was approved in early January 2024, providing an important new investment opportunity for individuals and institutional companies needing regulated tools to enter the cryptocurrency market. After overcoming the initial excitement of the first few months, we now have the opportunity to analyze the impact of these ETFs on the market with cooler and more comprehensive information. Let’s do this by examining the most relevant data in this channel.
Holdium’s Marshmallow Experiment: A Different Kind of Meme Coin
Over the past few weeks, I have heard about a new meme coin called Holdium. Yes, thanks to DJ Khaled for providing the catchphrase that allows me to say this. While most meme coins are considered dull, a few have indeed introduced new allocation, incentive, and retention mechanisms, which will gradually spread to other areas of the cryptocurrency ecosystem. I believe Holdium is one of them.
Analyst: 3 Reasons Why BTC Price is at a “Cycle Top”
BTC price has dropped by 2.25% in the past 24 hours, currently 16% lower than the historical high of $73,835 set on March 14th.