For an asset class that claims to empower retail investors, cryptocurrencies can be incredibly opaque. The complex and self-involved techno-babble of entrepreneurs and CEOs can easily overwhelm and confuse investors. The scrutiny of public markets provides clarity and a necessary corrective. That is why Canadian crypto mining company Hut 8’s second quarter results recently are interesting. The Toronto-based firm swung to a profit of $33.7 … Continue reading Four Interesting Takeaways From Crypto Miner Hut 8’s Earnings
The difficulty level for bitcoin’s mining algorithm, which climbed over the last year, fell by 15% yesterday, recording its second-steepest drop ever. Difficulty level refers to the difficulty of the cryptographic problems required to be solved by systems within bitcoin’s network to earn the cryptocurrency. It is adjusted every 2016 blocks or approximately after every two weeks, depending on the rate of production. The difficulty … Continue reading Bitcoin Mining Difficulty Level Records Second-Steepest Drop. Will Industry Consolidate?
Last year Canada’s Québec province announced it was open for business for the crypto mining community. The thinking for Hydro Québec, the region’s utility, was that it could use surplus capacity as a nice little side business for crypto miners. By May, it had stopped approving new crypto mining projects. What went wrong? Hydro Québec has been flooded with requests from local and international miners, … Continue reading The Perils Of Cryptocurrency Mining For Québec