Hello Humble Bitcoiners!
Finally Friday. The week may come to an end, but Bitcoin never stops. Let's dive in. |
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📝 Today's Rundown - Stacking Miners: CleanSpark added an additional 93 PH/s to its mining capacity after purchasing over 1,000 Whatminer machines to be co-hosted by Coinmint.
- Maximalism: There has been a lot of digital ink spilled about the concept of Bitcoin Maximalism, but there are still things the critics don’t understand.
- Is Bottom In?: The bitcoin price tends to be cyclical, and we’re all trying to time the bottom. Can hash ribbons be the metric that predicts it?
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Sustainable Bitcoin Miner CleanSpark Purchases Over 1,000 Mining Rigs
By Shawn Amick CleanSpark, a publicly traded bitcoin mining company, announced it has added 93 petahashes per second (PH/s) of computing power to its mining capacity.
The company purchased 1,061 Whatsminer M30S machines, which are currently operating in Cointmint's renewable-powered co-location facility. Interestingly this is just their most recent acquisition, as they had just announced another large purchase back in June.
Over the past six months, CleanSpark has greatly increased its mining capacity, adding about 50% of BTC production capacity, and apparently they don't seem to be stopping anytime soon.
"We are seeing unprecedented opportunities in this market,” said Zach Bradford, CEO of CleanSpark |
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How We Should Really Think About Bitcoin Maximalism
By Stephan Livera Unfortunately, Bitcoin maximalism is often categorized as toxic and generally criticized in the online world. However, have you ever taken the time to analyze and investigate those that enjoy spending their time attacking and bad-mouthing the best, fairest and most trustworthy form of money that humankind has ever discovered?
It would not be a lie to say that many of Bitcoin's harshest critics are also altcoiners. These are individuals that have been scammed into the slaughterhouse of the cryptocurrency casino in search of the lambo dream.
Bitcoin maximalism is about a better world, a better future and a better humankind. Those that share the ideology are focused on development, building, education and community growth since they know that Bitcoin is our only hope to liberate ourselves from the crooked system we have been living in for decades. |
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1. The New York Yankees will leverage Bitcoin fintech NYDIG’s platform to allow its employees to convert part of their salary into bitcoin. 2. To fully cut the unproductive class away from the levers of control, the productive class must use bitcoin to secure the layers outside of money. 3. When details emerged about Coinbase’s blockchain analysis partnership with ICE, Bitcoiners were left wondering how safe their data really is. 4. KWh aside, there are other important factors for miners to consider in both the choosing of their machine and the operational decisions they make. 5. After a year of borrowing and buying, what’s the outlook for the bitcoin bulls at MicroStrategy? 6. Bitcoiners who are optimistic about Senate cryptocurrency legislation should remain skeptical of the legislators who want to regulate the industry. |
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Is The Bitcoin Price Bottom In? Here Is What Hash Ribbons Tell Us
By Namcios The most powerful Bitcoin buy signal ever is possibly when miners capitulate, or at least that’s been the case so far according to Charles Edwards, founder of quantitative asset management firm Capriole Investments, experienced quant investor and creator of the "hash ribbons" indicator.
Hash ribbons, publicly available on TradingView, is an indicator made up of two simple moving averages (SMAs) of Bitcoin’s hash rate: the 1-month and the 2-month SMA. The indicator has been useful so far to identify market bottoms, miner capitulation and therefore, great times to buy bitcoin.
In this commentary article the author discusses everything you need to know about hash ribbons, how and why miner capitulation has been a bottom indicator, how long this indicator could be reliable, current market conditions and more. |
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By To Biz.
Stacking is a never ending story, an eternal loop non-satisfaction as there is never enough sats in our wallet.
So let's keep going, and get those sats off the market!
Stack harder,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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