Tokens On Bitcoin? And April Monthly Mining Numbers

Published: Wed, 05/10/23

May 10, 2023
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BRC-20 tokens pit Bitcoin developers against miners

 

There’s a new problem on the Twitter timeline: BRC-20 tokens.

 

A nod to the ERC-20 token–the most common Ethereum token format–BRC-20’s are a type of Inscription under Ordinal theory responsible for the highest Bitcoin transaction fees since the last bull market. Indeed, dollars per petahash per day has spiked nearly 100%, to $127/PH/day since BRC-20 mints started relentlessly pounding Bitcoin's blockchain.

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Bitcoin Mining Stock Roundup: April Monthly Numbers

 

Iris Energy and Marathon Digital were big winners in terms of deploying hashrate.

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Mining News Feed

PR Wire / Atlas Power and Giga Energy Announce a Joint Venture to Harness Stranded and Flare Gas for Bitcoin Mining

 

CoinDesk / Marathon Teams Up With Abu Dhabi's Zero Two for Middle East's First Large-Scale Liquid Cooled Bitcoin Mining

 

CoinDesk / DCG Looks to Refinance Outstanding Genesis Obligations, Raise Growth Capital

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Today we are joined by Anthony Power to discuss his March mining updates, strengths and weaknesses of miners and a special note on Core Scientific, who recently appointed a new president.

Watch on YouTube here.

Chart of the Week

Fees paid from Ordinal Inscriptions went parabolic this past week, leading to triple digit $/PH/day for the first time since mid-2022.

Source: Dune Analytics

Mining Stock Snapshot

*As of May 10.

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