Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

Bitcoin was briefly trading above $17,000 on Wednesday, as markets prepared for the release of the upcoming U.S. consumer confidence report. Today’s figure is expected to come in at a reading of 101.00 for December, which is higher than last month’s number of 100.2. Ethereum was also in the green, as it neared a key resistance level. Bitcoin Bitcoin (BTC) rose briefly above the $17,000 level on Wednesday, as markets began to anticipate the release of the upcoming U.S. consumer… Source link

This is an opinion editorial by Aleks Svetski, author of “The UnCommunist Manifesto,” founder of The Bitcoin Times and Host of the “Wake Up Podcast with Svetski.” It is part four of his “Remnant Series.” I grew up as an extreme empath. But the last few years have radicalized me and made me cold, dissociated and distant toward much of the world and its hordes of mindless inhabitants. I traveled to 20 countries during 2020 to 2022, and no matter where I went, I was surrounded by… Source link

Like most cryptocurrencies, Litecoin (LTC 4.10%) took some drastic price cuts in the first half of 2022. As investors and regulators struggled to manage an inflation-soaked global economy, the Litecoin token fell 64% between the New Year and the end of June. That correction was a bit sharper than Bitcoin‘s (BTC 1.73%) 57% price drop and far behind TRON, which only fell 17% lower in that period. But it was too early to count Litecoin out in the middle of summer. The cryptocurrency has staged… Source link

sponsored As winners of the ETH hackathon in 2021, the Hackless team is now releasing the beta version of Anti-Sandwich – a gateway to safe and efficient swapping of crypto assets, avoiding public mempools and consequently, getting ‘sandwiched’. The solution has already proved effective for a play-to-earn platform and is now open to a wider audience. The risks of DeFi Financial freedom is simultaneously the biggest groundbreaker and risk of DeFi. Transition to decentralised… Source link

‘They will come to a bad ending’: Just over a year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. Even back in 2018, the Oracle of Omaha himself predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021,… Source link

‘They will come to a bad ending’: Just over a year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. Even back in 2018, the Oracle of Omaha himself predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021,… Source link

Longer-term Ethereum chart shows price action underpinned after dismal 2022 led by surging inflation. ETH seasonality shows June and September as the best time to buy. Ethereum price action should benefit from energetic efficiency after the Merge. Legal framework adoption shows acceptance of cryptocurrencies. CME Futures data points to equilibrium between buyers and sellers, while interest has never been that big before. All bits and pieces together added up point… Source link

Bitcoin (BTC) divided traders yet again on Dec. 21 as sideways BTC price action split opinion on the future. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $17,500 becomes popular BTC price targe Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it acted within a tight range just below $17,000. A single brief spike above the $17,000 mark failed to last, the pair returning to familiar territory from the past week. For popular traders, there was a lack of… Source link