Episode Details

14th May: Crypto & Coffee at 8

👀Bitcoin Mining🔻 The US government is going after Tether.to? 🔴$296M Illegal Crypto in China🟠Bitcoin Magazine+ Trump

🔻Mining Difficulty: Last week witnessed a significant slump in Bitcoin mining difficulty, marking the most substantial decline since the Crypto Winter of December 2022. It has dipped below 600 EH/s following the recent halving event.

- As of 06th May, Riot Platforms produced 41% fewer bitcoins in April

- Gryphon Digitial mining reports production of 40 BTC in April

- Info via Seeking Alpha https://tinyurl.com/4drm5te4

❗ Bitcoin production numbers saw a significant drop of 16%, with Riot Platforms, experiencing a 12.7% decrease as Bitcoin itself faced a volatile week. Fintech-focused lender SoFi Technologies slid 11.6% after issuing Q2 guidance below analyst estimates. The Carlyle Group, after posting mixed Q1 results, retreated 11%, while Marathon Digital Holdings, another BTC miner reporting production metrics, fell 9.8%. Info here https://tinyurl.com/yc69ut22

👀 James Butterfill, head of research of CoinShares published a detailed report via Medium that discusses Miners are beginning to turn off unprofitable rigs They expect a shift towards AI in energy-secure locations due to its potential for higher revenues, with companies like BitDigital, Hive and Hut 8 already generating income from AI. Also possibility of the hash rate rising to 700 Exahash by 2025. Full article here https://tinyurl.com/yua7bfc7

- Bitdeer Group, Cormint, Inc., TeraWulf , and Iren are identified as best positioned to survive the halving, while Riot and Hut 8 face significant challenges.

- Overall, the report provides insights into the dynamic landscape of Bitcoin mining and the strategies miners employ to navigate post-halving challenges

Check out the Blockchain DXB podcast we share our commentary on this.

😱 Brad Garlinghouse, CEO of Ripple says it is “clear” that the United States government is “going after” stablecoin issuer Tether which could have an unpredictable impact on the crypto markets. More info via World Class podcast, here via YouTube 

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