The TON Foundation, an organization developing the Telegram-initiated blockchain project, the TON blockchain, on Tuesday officially announced that TON miners have mined the final toncoin. "Tens of thousands of miners have mined the entire issuance of toncoins, which was about 5 billion tokens,” TON Foundation founding member and core developer Anatoly Makosov said in a statement to Cointelegraph. The last toncoin was mined on June 28, he noted. The end of toncoin mining marks a major milestone in TON's distribution, starting its new era as an entirely PoS blockchain. From now on, new toncoins will only enter circulation via PoS …

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom. There’s so much assurity from various anon and doxed analysts on Crypto Twitter, yet Bitcoin price is still in a clear downtrend, and the metrics don’t fully reflect that traders are buying every dip. A critical component of BTC …

The National Agency of Prospective Projects (NAPP) in Uzbekistan announced its demands toward crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies. The normative act on the government page, dated June 24, describes the confirmation of “Guidelines on the registration of the crypto assets mining,” and sets the finalization date on July 9. The second article of the document offers an uncompromising wording: “Mining is being carried out only by the legal entity with the use of electric energy, provided by a solar photovoltaic power plant.” As a further …

Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000. Changes in Bitcoin prices directly impact the miners’ income, who earn fixed block rewards and transaction fees in BTC for running their mining operations. In June 2022, the total mining revenue dipped below the $20 million range, with Blockchain.com data recording the lowest dip of $14.401 million on June …

Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills. Late on Sunday, Dynamics tweeted a letter on Twitter it sent to Compass Mining which stated as of June 14th, the hosting contract between the two was terminated. Dynamics alleged Compass has six late payments and three non-payments related to utility bills and hosting fees. Effective June 14th @compass_mining facility hosting agreement in Maine was terminated by @dynamics2k for failure to pay power …

Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a Ponzi scheme. Yifan He, CEO of Red Date Technology — a major tech firm involved in the development of China’s major blockchain project called the Blockchain Service Network (BSN) — has penned a new article devoted to various kinds of cryptocurrencies and their supposed Ponzi-like nature. Published in the local newspaper The People’s Daily on Sunday, the piece refers to private cryptocurrencies as the “biggest Ponzi scheme in human history.” The author mentioned the …

The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second (EH/s). According to the data shared by the Cambridge Centre for Alternative Finance, the Bitcoin network recorded the year 2022’s lowest power demand of 10.65 gigawatts (GW). At its peak, the BTC network demanded 16.09 GW of power. On June 16, a Cointelegraph report highlighted how the banking sector utilizes 56 times more energy than the Bitcoin ecosystem. Publisher Michel Khazzaka, an IT …

These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a massive gold ore discovery supplied just this kind of fuel. What does the state of gold mining in Africa have to do with the price of global Bitcoin (BTC)? Quite a bit, potentially. Bitcoin has periodically laid claim to being digital gold largely on the strength of its strict 21 million supply limit, which makes it non-inflationary and a good store of …

Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt. In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings. According to the company, it will use the funds from the BTC sales — $62 million — to “rebalance its indebtedness by reducing its BTC-backed credit facility with Galaxy Digital.” The sold crypto seemingly included 1,500 BTC Bitfarms used to reduce its credit facility from $100 million to …

Bitcoin (BTC) starts a new week still battling for $20,000 support as the market takes in a week of severe losses. What felt all but impossible just weeks ago is now a reality as $20,000 — the all-time high from 2017 to 2020 — returns to give investors a grim sense of deja vu. Bitcoin dipped as low as $17,600 over the weekend, and tensions are running high ahead of the June 20 Wall Street open. While BTC price losses have statistically been here before — and even lower — concerns are mounting for network stability at current levels, with …

Despite data showing that the Bitcoin (BTC) price may have fallen to the point of being unprofitable for the average miner, Marathon Digital Holdings says it will continue working to accumulate the leading crypto asset. Charlie Schumacher, vice president of corporate communications at Marathon Digital, told Cointelegraph on Wednesday that while the company “isn’t immune to the macro environment,” it is “fairly well insulated and well-positioned” to weather the current downturn, due to the low cost of operations and fixed pricing for power “For reference, in Q1 2022, our cost to produce a Bitcoin was approximately $6,200. We also have …

A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining. In a Thursday letter, many U.S. lawmakers including pro-Bitcoin Senator Cynthia Lummis and Representative Tom Emmer addressed EPA administrator Michael Regan, requesting the government agency analyze the potential impact of crypto mining in an effort to balance innovation with environmental concerns. The group of 14 senators and representatives claimed mining could have a “substantial stabilizing effect on energy grids” and cited examples of mining operations using flared gas and renewable energy …