Bitmain just slashed mining rig prices, proving the market’s oldest “Bitcoin rule” is officially dead
Bitmain just slashed mining rig prices, proving the market’s oldest “Bitcoin rule” is officially deadHardware costs usually skyrocket when BTC climbs, but a collapse in daily revenue has forced a historic decoupling.
Happy Monday!Bitmain slashes mining rig prices, shattering the old Bitcoin rule that hardware costs surge with BTC's rise amid collapsing daily revenues. Coinbase announces an arrest in the $355M insider extortion scheme hitting nearly 70,000 customers, sparking reimbursements and a federal probe into its security teams. Plus, a bold proposal for New Year's Eve timed by Bitcoin block height instead of astronomy promises global unity but risks a tax lottery. Get the latest crypto news highlights below. The global crypto market cap is $2.96 trillion, with a 24-hour volume of $109.46 billion. The price of Bitcoin is $87,731.24, and BTC market dominance is 59.0%. The price of Ethereum is $2,943.04, and ETH market dominance is 11.9%. The best-performing sector is Move-to-Earn, which gained 13%. The Crypto Fear & Greed Index is currently Extreme Fear (24). 📰 Top News
Bitmain just slashed mining rig prices, proving the market’s oldest “Bitcoin rule” is officially deadHardware costs usually skyrocket when BTC climbs, but a collapse in daily revenue has forced a historic decoupling. Coinbase claims arrest in the $355 million insider extortion scheme that targeted nearly 70,000 customersAn arrested support agent and a massive bribery plot have forced the exchange to reimburse millions while facing a federal probe into its outsourced security teams. New Year’s Eve based on BTC block time not astronomy – introducing Universal Bitcoin TimeReplacing the clock with consensus height turns the year-end into a statistical lottery where “midnight” might arrive days late.
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About CryptoSlateCryptoSlate is a comprehensive and contextualized source for crypto news, insights and data. Since 2017, CryptoSlate has been a go-to destination for the fast-moving and nascent digital assets space. Our coverage focuses on Bitcoin, Ethereum, macro, DeFi, AI, and web3. Our goal is to provide an all-encompassing overview of the crypto asset market and the technological trends shaping it. Our mission at CryptoSlate is to decode the complexity of digital assets and showcase their potential to transform society by providing accessible, reliable information and analysis. We're committed to differentiating our news coverage by telling original stories and providing alternative points of view. Questions, Comments?Get in touch with us here. Connect with UsTelegram • X • Google News • LinkedIn • Instagram
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