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Bitcoin’s Global Hash Power Balance

The global distribution of hash power may shift as various factors come into play during Bitcoin’s continued growth. Flex Yang is the CEO of Babel Finance, a leading cryptocurrency financial services provider based in Asia. What Are Some Key Factors In “Winning” The Global Hash Power War? In 2021, the bitcoin market is surely reaching an inflection point, as its market cap surpassed $1 trillion. Bitcoin’s ecosystem has seen evolutionary growth and structural change, but there are noticeable trends that have been disrupting Asia’s bitcoin mining industry, from the continent’s declining share of hash power to the rapidly changing regulatory…

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Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

Following the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange agreement. 500.com Changes Name to Bit Mining Limited and Acquires Bee Computing for $100 Million On April 5, 2021, the company 500.com Limited (NYSE: WBAI) registered a statement with the U.S. Securities and Exchange Commission (SEC) in a Form 6-K filing. The Shenzhen-based firm detailed that it entered into a share exchange agreement with the company Bee…

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As Bitcoin Mining Hits All-Time Highs, Access To ASICs Is Key

As bitcoin propels its mining industry to new heights, the challenge of obtaining new equipment is critical. Like many providers in the space, international bitcoin mining services company Compass Mining is on a roll. With the success of BTC and rising mining revenues — now at an all-time high of $60 million per day — this rapidly-growing startup finds itself squarely in the middle of a bull run. Founded in October 2020, Compass has been able to capitalize on a growing demand for mining services, particularly through access to new ASICs in a very tight mining equipment market. In a…

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Bitcoin Mining Difficulty Sets New Records, BTC Miners Capture $1.5 Billion in Revenue Last Month

On Friday, April 2, 2021, Bitcoin’s mining difficulty is the highest it has even been in its lifetime but bitcoin miners still captured record revenues last month raking in $1.5 billion in coinbase rewards and transaction fees. Today, the blockchain’s hashrate is around 160 exahash per second (EH/s) with 17 pools dedicating hashpower to the network. $1.5 Billion in Bitcoin Rewards and Fees, Difficulty Ramps Up to 23 Trillion With a 5% Increase on the Way The price of bitcoin has been consolidated just under the $60k region and at 10:30 (EST) on April 1st, BTC jumped over the $60k…

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Compass’ Platform is Legitimizing, Democratizing, and Growing the Cryptocurrency Mining Industry

CoinFund’s investment thesis for Compass Links: Compass; CoinFund Portfolio Thesis Summary Active Demand Drivers: There remains a large gap between the low quality and low margin retail-focused ‘cloud-mining’ businesses of the past and the growing demand for value-added, relationship-driven, Proof-of-Work (PoW) marketplace which Compass enables, similar to how Expedia and other OTAs have connected previously-fragmented pockets of travel demand and supply. In addition, our research reveals multi-year secular drivers including but not limited to the continued migration of hashrate out of China, opportunity to monetize “stranded” sources of power across the globe, and investor appetite for crypto mining infrastructure investment opportunities…

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