• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
bitcoin mining, miners, blockchain,

Three Leading Bitcoin Mining Companies Are Now Very Optimistic

NewsBTC by NewsBTC
8 years ago
in Cryptocurrency Market News
Reading Time: 3 mins read

Since the beginning of 2015, Bitcoin startups have begun to abandon bitcoins due to their highly volatile price. In January this year, Bitcoin mining company CoinTerra was sued for over $5 million as it failed to pay its bills when the price of bitcoins dropped. Bitcoin firm Digital CC terminated its mining services, as it was losing cash in the operations.

Therefore, it is necessary to know how the mining companies are performing now, given that the price of Bitcoin is almost twice what it was at the start of the year. NewsBTC.com talked to three prominent companies in this field—F2Pool, BTCC, and Slush’s Pool—and here is what they had to say.

F2Pool

“Right now, we have ~15% more connection[s] . . . than a few months before. The recent hash rate rise is mostly attributed to the availability of [a] new generation of miners. For most users, one connection is one mining machine.”

We took the liberty to ask  an F2Pool if they expected the price rise to sustain going forward, and we were not disappointed:

“I expect the price to rise in the next 6 months.”

BTCC

BTCC’s chief executive officer Bobby Lee was very confident that we’d witness a strong pick-up in Bitcoin mining activity with Bitcoin’s recent rally.

“Bitcoin mining is more exciting again now that Bitcoin prices have essentially doubled since earlier this year. I expect more mining activity and increased investments in mining in the coming months. The recent increase in Bitcoin prices means mining hardware is much more profitable for miners, as the latest generation ASICs were designed when Bitcoin prices were much lower.

In turn, this will lead to more people being interested in buying mining equipment. Mining activity will also increase because people are trying to squeeze out the last few months of the high reward of 25 bitcoins per block before the block halving that is scheduled to happen next June.”

Bobby Lee is strongly bullish on bitcoins in the long-term:

“Generally, I expect Bitcoin prices to go up over the coming years and decades, so I am very bullish on Bitcoin price appreciation.”

Slush’s Pool

Miners are profiting as the Bitcoin price buoys above $400 US. However, Slush’s Pool predicts that it may attract strong competition among mining pools.

“Current price increase is improving the profitability of miners and the mining activity is definitely rising significantly in the last few weeks.”

hashrate
Image

Slush’s Pool clarified that things won’t be easier for miners going ahead with the advent of new and powerful machines in the industry.

“However, since there are new and more powerful devices coming to the market right now, we expect the hash rate and consequently the difficulty of the network to rise in the next few months.

Bitcoin mining has moved from the hobby to serious investment business, and we expect [a] few more big players controlling significant hash rate[s] coming to the market. Therefore, we have developed special monitoring tools and special services for them, and we are ready to welcome them on the board of our pool.”

Slush’s Pool further added that the halving of the block reward may further contribute to the increase in the price of Bitcoin.

The three leading companies are very optimistic (and confident) about the Bitcoin mining industry, with relief coming from the higher valuations of the cryptocurrency. All remain very bullish from a medium-term to long-term perspective, citing halving of the block reward as a major reason.

Tags: bitcoinbitcoin miningbitcoin priceblock reward halvingbtccBullish on BitcoincryptocurrencyF2poolhashrateNewsSlush's Pool
Tweet123Share196ShareSend
NewsBTC

NewsBTC

Related Posts

Ethereum price crash

Why Is Ethereum Price Down To $2,200 Today?

1 hour ago
Bitcoin

Hold Your Horses: Bitcoin Could Fall Back To Under $38,000, These Analysts Say

4 hours ago
Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

Brian Armstrong Announces Solana Integration – Everlodge Announces AI Integration

5 hours ago
3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

3 Reasons To Watch The Bitcoin Price This Week As Bitcoin Minetrix Token Raises $5 Million

18 hours ago
Ethereum

Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations

20 hours ago
Ethereums Future Will Ethereum Recover?

Ethereums Future: Will Ethereum Recover?

20 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • These 3 tokens under $3 are worth every penny, Shiba Inu...

    1 hour ago
  • Crypto News Update: Dogecoin (DOGE) hit the resistance at...

    1 hour ago
  • Green Bitcoin Uses Less Energy Than Bitcoin and Others...

    1 day ago
  • The Top 5 Crypto Presales for 100x Returns In 2024

    1 day ago
  • PolySign, Inc. PUBLIC AUCTION NOTICE OF FORECLOSURE SALE

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.