Bitcoin News and Finance: What You Need to Know

Recently, the top three bitcoin mining rig manufacturers unveiled a group of next-generation products with efficiency ratings of less than 20 joules per terahash (J/T) and powerful hashrates. In total, Bitmain, Canaan, and Microbt released seven new devices. The following provides a look at the machines’ current profitability using prevailing BTC exchange rates. A Look at the Current Estimated Profits of the Latest Bitcoin Mining Machines Three of the world’s largest bitcoin mining machine producers have recently released new products, and these machines will likely benefit BTC ’s total hashrate. Bitcoin’s price is hovering above the $34,000 range, and the current hash price in terms of a terahash per second on a daily basis equates to $0.0736 . This means that under current market conditions, all seven miners announced by Microbt, Bitmain, and Canaan are profitable if a miner is paying $0.07 per kilowatt-hour (kWh). Of course, that doesn’t include the upfront cost to purchase any...

Britain’s Financial Conduct Authority (FCA) has issued hundreds of alerts regarding companies “illegally promoting crypto assets to U.K. consumers.” The regulator also highlighted several “common issues” with crypto promotions it has identified since it imposed stricter marketing rules earlier this month. U.K.’s Financial Watchdog Vows to Remove ‘Illegal’ Crypto Marketing Content Businesses that wish to promote crypto assets in the U.K. are now required by law to register with the FCA and obtain authorization or use the services of a firm authorized to approve marketing materials. The obligation, part of new rules introduced in June, was enforced on Oct. 8. Since then, the financial regulator has been supervising crypto companies for their compliance with the new regime that was supposed to provide consumers with sufficient information to understand what they are investing in and be properly warned about the relevant risks. On Wednesday, the FCA said it had identified three commo...

Bitcoin ( BTC ), the leading crypto asset by market cap, has captured considerable attention within the realm of digital currencies, demonstrating robustness and a pronounced market dominance. As it currently stands, its value hovers slightly beneath the $34,000 mark. The latest bitcoin price prediction report from finder.com sheds light on anticipated future developments, as construed by industry specialists. 31 Fintech and Crypto Experts Forecast Bitcoin’s Future Prices The report , entitled “Bitcoin to Hit $87,000 by 2025,” offers an in-depth exploration of bitcoin’s potential price trajectories, synthesizing perspectives from 31 experts and panelists within the sector. Within the context of the report, panelists deliberate on the prospect of a spot bitcoin exchange-traded fund (ETF) receiving approval. A substantial 47% of these experts express the belief that such an endorsement could catapult bitcoin to unprecedented highs. Furthermore, approximately 60% of participants antic...

Amid the recent gains in the crypto economy, the total value locked, or TVL, in decentralized finance, or defi protocols, has risen above the $40 billion threshold. This is after remaining below that level since mid-August. The top 100 defi coins by market capitalization are just below the $50 billion mark. Defi Market Bounces Back as TVL Hits $41.42 Billion Since October 23, the TVL in defi has surpassed $40 billion. As of Thursday, it stands at $41.42 billion, according to defillama.com. All ten of the leading defi protocols by TVL have experienced double-digit gains in the past week. Summer Finance and Aave are at the forefront with gains exceeding 20% during this time. Other significant gainers include Rocket Pool and Lido Finance. The TVL in defi was last around this level on August 15, 2023. Over a 30-day period, nine of the top ten defi protocols by TVL size posted gains. Uniswap, however, recorded a monthly loss of 15.94%. The leading gainers for the month were Aave and J...