Hashrate Asset Group (HAG) is a Singapore-based Bitcoin mining company dedicated to establishing the world's first sustainable, compliant, and transparent Bitcoin standard computing power operation model.

June 16 (Cointime) - A recent study suggests that buying Bitcoin is generally more profitable than mining it, due to the high costs and difficulty of running ASIC miners, regulatory uncertainty, and lack of technical expertise.

Despite market uncertainty and recent FUD, on-chain data from Glassnode shows that the 7-day Bitcoin mining hashrate has reached a new all-time high of 381 EH/s. This metric measures the total computing power connected to the Bitcoin blockchain by miners and indicates that more machines are being brought online.

Bitcoin miners earned $916.6 million in revenue in May, which is a 13.7% increase from the previous month. This includes transaction fees of over $120 million, which is largely due to increased on-chain activity. The rise of bitcoin NFTs has also contributed to the surge in transaction fees. In May, there was a significant increase in bitcoin transaction activity, with 16.9 million transactions recorded for the month.

Texas legislators have passed two bills in support of bitcoin mining, with one aimed at registering large energy capacity miners with the Public Utilities Commission. The bills, SB 1929 and HB 591, are awaiting the signature of Governor Greg Abbott and will take effect from 1 September if approved. The third bill, SB 1751, which would have capped the industry's participation in cost-saving demand-response programmes, was stopped at the committee stage. Texas is one of the largest bitcoin mining hubs in the world due to cheap energy and friendly regulators.

The difficulty of mining a block of bitcoin is set to reach a new all-time high of 50T on Wednesday due to the increase in computing power and popularity of the ordinals protocol. This has led to better profitability for miners, who are deploying more mining machines. However, an increase in difficulty could lead to a decline in profitability for miners. Uncertainty around the next Bitcoin halving event and constraints in available infrastructure could also slow down the increase of mining difficulty.

Bitcoin miners experienced a surge in transaction fee revenue in May, reaching a level not seen in over two years. The share of mining revenue from transaction fees rose to 14.3% as of May 29, an increase of over 11% from April.

D-Central Technologies Inc., a Bitcoin mining service provider, has announced three major developments that will impact the cryptocurrency community.

BTCMining NFT is an innovative, efficient, secure and transparent digital asset, which is committed to giving back the computing power of Bitcoin to everyone.

Police in Paraguay have recovered 300 Bitcoin mining rigs that were stolen from a farm in the country's Alto Paraná province in April. The operation was carried out by the nation's Anti-Kidnapping Department, who raided a commercial property in the town of Presidente Franco this month. One man was arrested and charged with aggravated assault, but the remaining 192 mining rigs are still yet to be recovered. Paraguay has become a hotspot for crypto and Bitcoin mining in recent years due to its surplus of hydroelectric power, but politicians have faced opposition from the nation's President in their attempts to open the door to miners.