Marathon Digital Holds $457M in Bitcoin After Increase in October Mining

Marathon Digital produced 417.7 bitcoins in October, a 23% increase over the previous month that boosted the value of the company’s total bitcoin holdings to about $457.4 million, the bitcoin miner said on Tuesday. Marathon Digital now has about 7,453 bitcoins. Its mining fleet consists of 27,280 active miners producing approximately 2.96 exahashes (EH/s). “With shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” Marathon Digital CEO Fred Thiel said in a statement. In…

Miami Mayor Will Accept Next Paycheck in Bitcoin

Key Takeaways Miami mayor Francis Suarez says that he will accept his next paycheck entirely in the form of Bitcoin. Last month, Suarez introduced a plan to allow all of the city’s municipal workers to accept crypto paychecks. Suarez also wants the city to hold Bitcoin; he also plans to allow residents to pay bills and taxes in Bitcoin. Share this article Miami mayor Francis Suarez has committed to taking his next paycheck in Bitcoin along with other city workers. Suarez Will Be Paid in Bitcoin In a Twitter comment…

Illuvium, LCX and Tokemak hit new highs as Bitcoin dominance lingers

During bull markets, altcoins tend to accrue gains when Bitcoin price consolidates and at they run in tandem with BTC price during breakouts. This dynamic appears to be at play today because multiple altcoins went parabolic at the same time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time high above $4,500. According to data from Messari, 31 tokens have established new record-highs in the past 24-hours and the total cryptocurrency market cap increased from $2.619 trillion to $2.732 trillion overnight. Top 13 tokens to…

Laotian govt budget expected to gain $194M from crypto miners by 2022

The Laos government’s pilot project to explore cryptocurrency mining and trading is expected to bring in roughly $194 million towards the country’s total domestic revenue projected for 2022. According to a Nov. 2 report from Malaysian news outlet The Star, the Laotian government’s recent bid to capitalize on China’s crypto mining crackdown may be netting the country 2 trillion kip — roughly $194 million at the time of publication — in revenue from six firms. The companies in the public-private mining pilot program officials approved in September include Wap Data…

Analysts say ‘impulse move’ could send Ethereum price into the $6K to $14K range

Crypto markets have hit the ground running right from the start of November and today a near uncountable number of tokens have rallied to swing highs as Ether (ETH) broke above the $4,500 level and Bitcoin recaptured the $64,000 level. Polkadot (DOT) also hit another all-time high as investors accumulate tokens leading into the upcoming parachain auctions. The climbing price of Ether comes following the recent Altair update to the Ethereum beacon chain as part of the protocol’s transition to Eth2 and a proof-of-stake mechanism which has also seen more…

Miami mayor plans to accept first paycheck entirely in Bitcoin

Francis Suarez, who has served as the mayor of Miami since 2017, has said he’s going to take his next paycheck in Bitcoin. In a Tuesday Twitter post, Suarez said he aimed to be the first United States lawmaker at the state or federal level to accept part of his salary in Bitcoin (BTC). Public records show the Miami mayor’s salary was $97,000 annually between 2016 and 2017, meaning he would receive a monthly paycheck of more than $8,000 or 0.13 BTC at a price of $63,404, assuming residents did…

What You Need To Know About Biden’s Stablecoin Report

This episode is sponsored by NYDIG. Download this episode The President’s Working Group on Financial Markets has finally released its much-anticipated report on Stablecoins. In this episode, NLW breaks down: The PWG’s three major concerns surrounding stablecoins The significance of its recommendation that Congress legislate stablecoins The reactions of the crypto community, stablecoin issuers and interested politicians See also: The US Treasury’s Stablecoin Report Would Treat Issuers Like Banks, but Doesn’t Address How “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research…

Celsius Acquiring Israeli Cybersecurity Company GK8 for $115M

Cryptocurrency lender Celsius Network is acquiring Israeli cybersecurity company GK8, the company announced Monday. GK8 was founded by Lior Lamesh and Shahar Shamai, who have worked as cybersecurity experts at the office of the Prime Minister of Israel. Celsius and GK8 will now provide an enterprise-grade custody platform for banks and financial institutions offering digital asset services protection from cyber attacks. GK8 serves banks, financial institutions, crypto exchanges or platforms, central bank digital currency (CBDC) projects, family offices and hedge funds. In September, Celsius Network received a cease-and-desist order from…

Bitcoin SOPR Suggests Current Market Activity Resembles Early Bull Run Behavior

Despite Bitcoin reaching new highs, the BTC SOPR data may suggest current market activity resembles that of an early bull run. Bitcoin SOPR Shows Profit Taking Is Mild Despite New ATH As per the latest weekly report from Glassnode, the BTC SOPR shows that the current profit taking behavior of the market is mild, even though the crypto just reached new highs. The Spent Output Profit Ratio (or the SOPR in short) is a Bitcoin indicator that highlights whether holders as a whole are currently selling at a profit or…