Bitcoin Year-End Price Target Raised to $90K at Bernstein
Bernstein boosts bitcoin year-end price target ( Hans Eiskonen/Unsplash)
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Mining
Bernstein boosts bitcoin year-end price target ( Hans Eiskonen/Unsplash)
The number of bitcoin held in wallets tied to miners has dropped to the lowest since mid-2021.
The Texas Blockchain Council (TBC) and Riot Platforms, one of the largest crypto miners in the state, sued the U.S. Department of Energy for trying to collect information from many of its members, including Riot.
The Department of Energy’s statistics wing is feigning an “emergency” to attack legitimate U.S. businesses and score political points, Texas Blockchain Council President Lee Bratcher and Chamber of Digital Commerce CEO Perianne Boring write.
The mining business aims to reach 8 EH/s mining power and already has 4.5 EH/s operational after starting the unit in the summer of 2023.
The broker says it prefers outperform rated mining stocks Riot Platforms (RIOT) and CleanSpark (CLSK).
Following the launch of bitcoin ETFs, market watchers are looking for the next event that could drive market prices.
Bitcoin miners’ reserves slid to the lowest since May following a spate of withdrawals to exchanges this week, data from CryptoQuant shows.
The thieves allegedly tapped into utility poles of a state-owned energy firm to power mining operations.
Strong miners might be about to eat the weak ones as the reward for mining BTC gets cut in half, experts say.