Stronghold Digital Mining (Siding) raised its year-end bitcoin mining computing power forecast to 4 exhaust/second (EH/s) from 3 EH/s, according to a Wednesday statement.
For the fourth quarter, the company's net loss widened 45% to 74 cents per share from the year-earlier quarter.
The company widened its 12-month revenue's forecast to between $94 million and $129 million from a previous range of $108 million-$114 million. Mining profitability, which is measured as the Hashim, is seen 7 cents to 10 cents per trash/second (With/s) per day. Previously, it said it expected a hardship of approximately 9 cents/That/s. An Subhash is 1 million thrash.
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Cryptoverse: Buoyant bitcoin's losing its liquidity
CryptoCompare's Bitcoin Volatility Index spiked to 96 last week, way higher than the range of 52 to 65 it saw last month as the cryptocurrency held its footing despite broader market turmoil. The index is currently hovering around 68.
Bitcoin thrives in chaos, breaks above $28,000 for first time since June
Broader markets fluctuated in the past week after a handful of US lenders failed, and fresh concerns arose around Credit Suisse Group AG before UBS Group AG agreed to buy its fellow Swiss bank on Sunday. In the fallout, some investors have called on the Fed to pause interest rate hikes. But midweek data showed that core CPI advanced more than expected, a reminder that the fight against inflation is far from done. It’s unclear how the central bank will respond to the conflicting signals at this week’s Fed meeting.
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Cryptoverse: Bitcoin passes the bank stress test
It remains to be seen if bitcoin's bullishness will endure as attention shifts to the Federal Reserve's policy meeting this week where the U.S. central bank must walk a fine line as it fights inflation and bank stresses.
Crypto Price Today: Bitcoin rises above $28,100; XRP, Cardano zoom up to 12%
Other top crypto tokens were also trading higher. XRP zoomed nearly 12%. Cardano, Polygon and Litecoin were also trading with gains. The global cryptocurrency market cap was trading lower around $1.18 trillion, rising 3.73% in the last 24 hours.
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Crypto Price Today: Bitcoin rises above $28,200; XRP, Cardano zoom up to 20%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $545.54 billion. Bitcoin’s dominance is currently 46.09%, a decrease of 0.38% over the day, according to CoinMarketCap.
Crypto Price Today: Bitcoin holds above $27,000; BNB, Litecoin down 5%
"The crypto market is feeling the pressure of CFTC action against Binance as BTC price has slipped around the $27,000 level which is a drop of nearly 3% in the last 24 hours. We can expect the market to remain choppy in the coming weeks owing to the latest developments," Shivam Thakral, CEO of BuyUcoin, said.
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Bitcoin near highest level since June in broad crypto rally
Bitcoin, the largest token, rose as much as 4.9% and was trading at about $25,610 as of 10:45 a.m. in Singapore on Friday. Second-ranked Ether added roughly 3%, while smaller tokens like Solana and Polkadot also jumped.
Bitcoin rises 9.2% to $27,359
Ether, the coin linked to the ethereum blockchain network, rose 5.5% to $1,768.5 on Friday, adding $91.6 to its previous close.
Bitcoin zooms 40% in less than 2 weeks! Is banking crisis fuelling crypto rally?
"With instability in the banking sector, inflation data that exceeded expectations, and renewed optimism about a dovish Federal Reserve, Bitcoin has reached levels unseen in approximately nine months," Edul added.
Crypto Price Today Live: Bitcoin holds above $27,800; Litecoin, Dogecoin shed up to 3%
Rajendra Menon, Vice President at WazirX said, "Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 63.80, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 76.51 and 38.74, respectively."
Crypto Price Today Live: Bitcoin rises above $28,800; Litecoin, Tron surge up to 8%
The total volume in DeFi is currently 4.31 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $49.85 billion, which is 91.78% of the total crypto market 24-hour volume.
Bitcoin climbs to 9-month high as bank turmoil sparks rally
The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes.
Crypto Price Today: Bitcoin falls below $27,700; XRP, Tron tank over 7%
"The Bitcoin rally was interrupted by the interest rate hike of 25 basis points announced by the Fed in the latest FOMC meeting. The evolving banking situation in the US is making investors jittery, and markets are expected to remain choppy in the coming weeks," Shivam Thakral, CEO of BuyUcoin, said.
How would the collapse of 3 major banks in US impact crypto market?
Given that SVB is a publicly-listed company, this sale spooked investors. The share price dropped by more than 65% in two days. That created a ripple effect and spread fear among the depositors, who came rushing to withdraw their funds. It prompted a massive liquidity crisis, thereby leading to the collapse.
Crypto Price Today Live: Bitcoin holds above $27,800; Litecoin, Dogecoin fall up to 4%
BTC volume in the last 24 hours stood at approximately $41.40 billion, falling 1.70%. The market cap of Bitcoin was around $536.84 billion. Bitcoin’s dominance is currently 46.48%, an increase of 0.53% over the day, according to CoinMarketCap.
Crypto wants its shine back
Crypto companies were “moving gradually towards changing the narrative” even before Bankman-Fried’s exchange failed in November, said Todd Irwin, the chief strategy officer at Fazer, a branding agency that has clients in the industry. “After the FTX incident, the move has been turbocharged.”
Bitcoin, USDC stablecoin rally after US intervenes on SVB
U.S. officials said depositors of New York's Signature Bank, which was closed on Sunday by the New York state financial regulator, would also be made whole at no loss to the taxpayer.
Crypto Price Today Live: Bitcoin rises above $27,500; Shiba Inu, Polygon shed up to 5%
BTC volume in the last 24 hours stood at approximately $41.76 billion, rising 29.55%. The market cap of Bitcoin was around $531.77 billion. Its dominance is currently 45.90%, an increase of 0.48% over the day, according to CoinMarketCap.
Bitcoin, USDC stablecoin rally after US intervenes on SVB
The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday.
Crypto sell-off decoded: Bitcoin down 19% from its 2023 highs, nears the USD 20,000 mark
Bitcoin down 19% from its 2023 highs- nears the $20,000 mark, ET NOW's Sharad Dubey decodes the crypto sell-off.Crypto sell-off decoded: Bitcoin down 19% from its 2023 highs, nears the USD 20,000 mark
Bitcoin set for worst week since FTX crash on regulation, rates
The largest token fell as much 2.1% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Ether added to losses and smaller coins like Solana and Cardano struggled for traction.
Crypto Price Today: Bitcoin rises above $25,900; Bub, Dogecoin surge upto 5%
"Bitcoin is inching closer towards the $26,000 mark. Following the Arbitrum Airdrop announcement that came out yesterday evening, the sentiments across the crypto market took a positive turn. It is one of the biggest and most awaited events since the past several months," Edul Patel, Co-founder and CEO at Murdered, said.
Crypto Price Today Live: Bitcoin falls below $21,800; m-cap drops below $1 trillion
The total volume in DeFi is currently 3.68 billion, 8.50% of the total crypto market 24-hour volume. The volume of all stablecoins is now $39.04 billion, which is 90.12% of the total crypto market 24-hour volume.
Crypto Price Today Live: Bitcoin falls below $24,600; Dogecoin, Shiba Inu slip up to 7%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $476.09 billion. Bitcoin’s dominance is currently 44.28%, an increase of 0.53% over the day, according to Contractors.
Crypto Week at a Glance: Bitcoin, Ethereum buffeted by market volatility
Investors and traders reacted to the recent statement by US Fed Chair Jerome Powell regarding potential interest rate hikes, resulting in sell-offs and increased concerns over aggressive interest rate policies. However, the decline in the crypto market may also be attributed to uncertainties surrounding Silvergate Bank broadly this week
Crypto Price Today Live: Bitcoin above $24,900; Dogecoin, Litecoin surge over 4%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $480.19 billion. Bitcoin’s dominance is currently 43.68%, a decrease of 0.06% over the day, according to Contractors.
Creepers: Hooked on growth, bitcoin investors turn to smart tokens
Marketers Smart Contract Leaders Index, which tracks major tokens of this kind - including ether, dot and solana - is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up 76% this year.
Crypto Price Today Live: Bitcoin above $24,500; Ethereum, Litecoin rise up to 5%
This news has given investors, and traders hope that the banking sector's recent near meltdown will prompt the Federal Reserve to ease its monetary hawkishness. As a result, BTC has risen above a floor and reached a two-week high," Edul Patel, Co-founder and CEO at Mudrex, said.
Bitcoin's fizzling rally a warning
There have been five similar instances since the pandemic low in 2020 when Bitcoin climbed over two straight months but with a smaller gain in the second stanza. It retreated in the third month in four of those cases, posting an average loss of 5.8%. The only exception was a period through February 2021, when the token was in the midst of a powerful bull run.
Crypto Price Today Live: Bitcoin above $22k; crypto market cap crosses $1 trillion
The total volume in DeFi is currently 6.95 billion, 9.10% of the total crypto market 24-hour volume. The volume of all stablecoins is now $77.73 billion, which is 101.82% of the total crypto market 24-hour volume.
Crypto Price Today Live: Bitcoin falls below $22,500; Litecoin, Dogecoin tumble up to 8%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $432.63 billion. Bitcoin’s dominance is currently 42.09%, a decrease of 0.23% over the day, according to Telemarketing.
Crypto Price Today Live: Bitcoin slips below $20k; crypto market cap drops over 6%
The total volume in DeFi is currently 5.03 billion, 7.6% of the total crypto market 24-hour volume. The volume of all stablecoins is now $60.73 billion, which is 91.83% of the total crypto market 24-hour volume.
Crypto Price Today: Bitcoin holds above $23,400; Cardano, Shiba Inu slip up to 2%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $453.05 billion. Bitcoin’s dominance is currently 42.27%, an increase of 0.01% over the day, according to Telemarketing.
Crypto Price Today: Bitcoin falls below $22k; Solana, Polkadot slip up to 5%
Other top crypto tokens were also trading lower. Solana declined by 5.4%. Dogecoin, Litecoin, Cardano and Polkadot were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.01 trillion, falling 1.96% in the last 24 hours.
Bitcoin sinks to two-week low as Silvergate fallout hurts crypto
The largest token sank as much as 6% before paring some of the slide to trade 4.4% lower at $22,380 as of 8:30 a.m. Friday in London. Smaller coins such as Ether, Avalanche and the meme token Dogecoin also suffered declines.
Crypto Price Today Live: Bitcoin falls below $22,400; Solana, XRP shed up to 3%
"The crypto market is still recovering from the Silvergate fiasco as BTC, the world’s largest crypto by market cap, is down by 5% in seven days. If the Silvergate fallout doesn’t result in a broader contagion, then we may see a gradual recovery in digital assets across the board. The good thing is that the overall crypto market cap is still holding above the $1 trillion mark," Shivam Thermal, CEO of Bitcoin, said.
Bitcoin rally is much-needed lifeline for troubled miners after grim quarter
Marathon canceled the release of fourth-quarter results Tuesday after saying there had been “accounting errors” in several quarters of its financial statements. The US Securities and Exchange Commission raised questions about how the miner recognized the impairment of digital assets and revenue.
Crypto Price Today: Bitcoin holds above $23,500; Shiba Inu, Solana fall over 2%
The market cap of Bitcoin, the world's largest cryptocurrency, was around $454.52 billion. Bitcoin’s dominance is currently 42.31%, a decrease of 0.11% over the day, according to CoinMarketCap.
Bitcoin drops more than 4% on hawkish Fed rhetoric, US clampdown
The largest digital token slid as much as 4.2% and was trading below $24,000 as of 7:55 a.m. Friday in Singapore. Smaller tokens such as Ether, Polkadot and Avalanche also retreated.
Crypto Price Today: Bitcoin falls below $23,500; Polygon, Solana shed up to 4%
"On Monday, most cryptocurrencies declined after the release of the US Durable Goods Orders data for January. The data showed a 4.5% drop, causing concern among investors and traders about the possibility of inflation and interest rate hikes, despite strong economic data for the same period," Edul Patel, Co-founder and CEO of Mudrex, said.
Crypto Price Today: Bitcoin falls below $23,900; Cardano, Polygon shed up to 4%
The total volume in DeFi is currently 6.32 billion, 11.31% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.26 billion, which is 89.91% of the total crypto market 24-hour volume.
The miner's shares rose 6% in Wednesday morning trading on the Nasdaq.
Fourth-quarter revenue of $23.4 million was driven mainly by selling energy to the power grid rather than crypto mining. The miner owns two coal plants in Pennsylvania that use coal refuse, or piles of the fossil fuel left behind from the physical mining process.
Bitcoin mining revenue dropped 35% from the previous quarter as Stronghold returned equipment to lenders to lower debt. It also curtailed operations at times of high energy demand to sell power to the grid.
Speaking on the earnings call, Chief Financial Officer Matthew Smith explained that the boosted use of renewable energy has the effect of increasing electricity pricing during some periods and decreasing it during others, and how Stronghold is attempting to work this to its advantage.
