Altcoin News Daily Official TheBitTimes.com

According to Strategy (formerly MicroStrategy) founder Michael Saylor, buying bitcoin (BTC) strengthens the Bitcoin network while selling weakens it. Bitcoiners immediately pounced on this controversial claim. Their first critique is obvious: selling and buying always occur simultaneously. Each BTC purchase is also a sale, meaning there are always an equal number of purchases and sales at any time in the currency’s history. Giving Saylor the benefit of the doubt on this technicality, most critics were fine to assume that he intended to say buying at successively higher prices strengthens the network, and vice versa. However, even this charitable interpretation of the actual mechanics of a financial market didn’t clear much skepticism . When you buy Bitcoin, you strengthen the network. When you sell Bitcoin, you weaken it. — Michael Saylor️ (@saylor) February 15, 2025 Indeed, a prominent Bitcoiner told Saylor to re-read its whitepaper in order to full...

Riot Platforms, a major bitcoin mining company, has invested $162.9 million to acquire 33,280 advanced Bitcoin miners for its Texas data center in anticipation of the 2024 halving event. To prepare for the upcoming halving cycle projected for mid-2024, Riot Platforms has purchased mining rigs from MicroBT. This strategic move will increase Riot’s self-mining capacity by 7.6 exahashes per second (EH/s). Riot Purchases 7.6 EH/s of Next Generation Miners from MicroBT, Manufactured in the United States. Read more in today’s press release: https://t.co/esLToy798H — Riot Platforms, Inc. (@RiotPlatforms) June 26, 2023 CEO Jason Les announced that the new mining machines will be deployed gradually in the first quarter of 2024. Once fully operational, these miners will boost Riot’s self-mining capacity to 20.1 EH/s. Introducing these advanced miners will enhance Riot’s mining capacity by 7.6 EH/s and improve the efficiency of their existing fleet, positioning th...