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September 20, 2022
Subscribe to Mining Memo
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Mining Market Update
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| Price |
$19,510 |
▼-10% |
| Hashrate |
210 EH/s |
▼-10% |
| Difficulty |
32.05 T |
▲3% |
| Revenue* |
$0.0930 |
▲2% |
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Bitcoin Miners Flock to ‘0 Fee’ Binance
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Don’t look now, but Binance is sweeping up volume as the bear market closes in.
New data from Kaiko Research
shows Binance upping its trading volumes versus 13 other polled exchanges, all while the greater market experiences pullback.
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The consolidation can be attributed to Binance’s July policy of zero trading fees on numerous popular pairs, such as BTC/USDT. Traders have flocked to the platform since, which other major exchanges can’t match, Kaiko writes.
As it turns out, miners like cheap fees, too. Binance’s share of exchange payouts has widened some 25% since early July from 30% to 57%, according to Coin Metrics. (Coinbase is not included in the below data sample).
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Binance's (light green) share of transactions from mining addresses to exchanges now dominates for all Bitcoin miners. With the bear market here, every Satoshi counts.
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Get Tickets Today For The Texas Blockchain Summit!
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The Texas Blockchain Summit is back in Austin, Texas, Nov 17-18! The premier event will bring policymakers, Bitcoin miners, and recognized influencers to discuss Bitcoin, blockchain and crypto space.
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Mining News Feed
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Cypherpunk Cogitations / Was Satoshi a Greedy Miner?
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CoinDesk / Bitcoin Mining Difficulty Edges to All-Time High
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Bloomberg / Chinese Crypto Tycoon-Backed Bitdeer Buys Asia’s ‘Fort Knox’
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CoinDesk / Bitcoin Miner Bitfarms Starts Production in Argentina, Increases Hashrate to 4.1 EH/s
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We might have a floor price for next generation Bitcoin miners at around $30/TH, giving us another useful metric: Average return on Investment (ROI) period. Most ASICs purchased and plugged in at today’s prices will pay themselves back in about one year,
assuming $0.07 energy.
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The Mining Pod
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Peanut Butter and Jelly, Bitcoin and Energy? We dig into the logic behind Bitcoin's big dive into the energy markets with Jaran Mellerud of Arcane Research!
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Watch on YouTube here.
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| Iris Energy |
$5.06 |
▲8% |
▼-67% |
| Cathedra |
$0.14 |
▼-6% |
▼-68% |
| Argo |
$4.73 |
▼-6% |
▼-63% |
| Canaan |
$3.20 |
▼-8% |
▼-39% |
| Bitfarms |
$1.24 |
▼-12% |
▼-75% |
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*As of Friday, September 16
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About Compass: Compass is a Bitcoin mining and modern media company focused on driving the mass adoption of cryptocurrency mining.
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