The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend for another two weeks before price makes a more decisive movement. For those unfamiliar with technical analysis, a symmetrical triangle can be either bullish or bearish. In that sense, the price converges in a series of lower peaks and higher lows. The decisive moment is the support or resistance breakthrough when the market finally decides on a new trend. Thus, the price could break out in either direction. …

New York-headquartered crypto mining firm Bit Digital reported two of its hosting partners ceased operations to more than 4,800 rigs following power disruptions at different facilities. In a Thursday announcement, Bit Digital said a substation in Niagara Falls was damaged by “an explosion and subsequent fire,” necessitating its partner Blockfusion USA to take 2,515 Bitcoin (BTC) miners and 710 Ether (ETH) miners offline at the site. In addition, the mining firm reported its Digihost partner experienced a similar cut in power to a facility in North Tonawanda, New York, resulting in 1,580 crypto miners going offline. According to Bit Digital, …

Bitcoin (BTC) support at the $30,000 level has proven to be quite resilient amid the turmoil of the past two weeks, with many tokens in the top 100 now showing signs of consolidation after prices bounced off their recent lows. During high volatility and sell-offs, it’s difficult to take a contrarian view, and traders might consider putting some distance from all the noise and negative news flow to focus on their core convictions and reason for originally investing in Bitcoin. Several data points suggest that Bitcoin could be approaching a bottom which is expected to be followed by a lengthy …

Russia will legalize crypto payments “sooner or later,” according to the Minister of Industry and Trade of the Russian Federation, Denis Manturov. The country’s government has been exploring various crypto adoption plays throughout 2022, but is yet to finalize any concrete policy concerning digital asset payments. However, its legalization has been recommended by Russia’s Finance Ministry via its “On Digital Currency” bill from April. According to a translation of a Thursday report from local media outlet TASS, Manturov was questioned at the New Horizon educational forum this week on whether legalized crypto payments were in the works: “I think so. …

The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shared with Cointelegraph on Tuesday. Bitcoin miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022, …

Celsius Mining, the mining subsidiary of crypto lending platform Celsius Network, has filed paperwork with the United States Securities and Exchange Commission, or SEC, suggesting plans for an initial public offering (IPO). In a Monday announcement, Celsius said its mining subsidiary had filed a Form S-1 draft registration statement with the SEC, suggesting the firm may be planning an initial public offering. The SEC requires companies in the United States to file an S-1 registration for shares to be listed on a national exchange, like the Nasdaq or New York Stock Exchange. https://t.co/RhNOsQPBqA — Celsius (@CelsiusNetwork) May 16, 2022 Reports …

There’s Nor-way they can ban Bitcoin (BTC) mining in Norway now. That’s according to a majority vote passed by the Norwegian parliament on Tuesday. The proposal to ban Bitcoin mining in Norway was first suggested in March this year by the Red Party (Norway’s communist party). In this week's vote, the proposal was overturned as only Norway’s left-leaning parties, including the Socialist Left Party, the Red Party and the Green Party would support a ban on cryptocurrency mining. Jaran Mellerud, an analyst at Arcane Research and a Cointelegraph confidant, shed light on the developments: “The vote these parties lost was …

Bad news continues to dominate crypto media headlines and May 12's juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply. Bitcoin mining stocks continue bleeding... Mining investors probably wish they had simply bought bitcoin instead at the beginning of 2022, as most bitcoin mining stocks have underperformed bitcoin by a wide margin. pic.twitter.com/anSoUEoUJ1 — Jaran Mellerud (@JMellerud) May 11, 2022 While it may be easy to blame the current pullback solely on Terra's implosion, the truth is …

A group of eight organizations focused on the environment have called on different government agencies under the Biden administration to implement new approaches in response to proof-of-work (PoW) and other crypto mining operations. In a letter to the United States Office of Science and Technology Policy on Monday, the Environmental Working Group, Earthjustice, Greenpeace, the League of Conservation Voters, the Sierra Club, Friends of the Earth, the Seneca Lake Guardian and the Milwaukee Riverkeeper urged the White House to enact policies aimed at curbing “the electricity use and climate pollution associated with digital currencies that rely on [PoW].” Specifically, the …

Bitcoin (BTC) mining has always been a controversial topic. But, Bitcoin’s proof-of-work (PoW) model has reached new levels of concern as senior decision-makers and investors pay closer attention to environmental, social and governance factors. As such, many crypto miners are highlighting environmentally friendly practices by acquiring carbon offsets. Yet, some would argue that this isn’t enough to guarantee green Bitcoin mining. Other risk factors may also be involved with carbon credits. For instance, Kevin O’Leary — the Canadian entrepreneur better known as “Mr. Wonderful” for his role on Shark Tank — told Cointelegraph that he typically indexes public mining companies …

The Cointelegraph Research Terminal, the leading provider of premium databases and institutional-grade research on blockchain and digital assets, has added a new report to its expanding library. The latest paper looks at a particular group of players in the Bitcoin (BTC) mining industry. Published by crypto consulting firm Crypto Oxygen, the report highlights the current landscape of publicly listed crypto mining companies that control approximately 17% of the total hash rate of the entire Bitcoin network. The crypto mining industry is a quickly growing and evolving sector. In January this year, a United States-based company Core Scientific went public via …

The United States Securities and Exchange Commission, or SEC, has announced that it has settled charges against Nvidia — the company behind graphics cards used by many crypto miners — in regards to “inadequate disclosures.” In a Friday announcement, the SEC said that Nvidia failed to disclose that mining cryptocurrencies was “a significant element of its material revenue growth” based on sales of its graphics processing units, or GPUs, during the 2018 fiscal year. The company has agreed to pay a $5.5 million penalty and will be subject to a cease-and-desist order based on violations of the Securities Act of …