Introduction to Bitcoin Mining Australia Bitcoin mining is the heart of the Bitcoin network. It’s a process that involves validating transactions and adding them to the blockchain, Bitcoin’s public ledger. This critical role helps maintain the network’s security and introduces new bitcoins into the system. Let’s dive deeper into what Bitcoin mining Australia and learn...Continue Reading
Increase Transaction Fees? What Happened? Increased transaction fees represent a minor advancement in the ability of Bitcoin miners to maintain their operations independently of block subsidies. Block number 788695 has a significant meaning for Bitcoin miners due to the recent upsurge in transaction fees. It represents the first instance since 2017 where transaction fees...Continue Reading
Environmental Challenges in Bitcoin Miners A report from Arcane, published by CoinTelegraph, has indicated that While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin miners, a report has revealed the market’s potential to transform the energy industry. Bitcoin Miners are said to be responsible for approximately 137 terawatt hours of...Continue Reading
Bitcoin Mining Industry Reaches 59.5% Sustainable Energy The global Bitcoin mining industry had a sustainable electricity mix of 59.5% during Q2 of the year, or a marginal increase compared with Q1, according to the latest quarterly survey conducted by the Bitcoin Mining Council. The latest Q2 report also details how energy efficiency among Bitcoin...Continue Reading
What is Celsius? Per CoinMarketCap, Celsius originally came into being as the product of creators Alex Mashinsky and Daniel Leon in 2017. Mashinsky has a long-running history in the internet development sphere, having worked on the Voice Over Internet Protocol (VOIP) in the 1990s and other technologies since. Celsius is far from Mashinsky’s...Continue Reading
Why is The BTC network hash rate still so High? Firstly, an increase in the BTC hash rate means more mining power is being added to the Bitcoin network. Whenever new miners join the network, the mining difficulty increases. This is due to a mechanism implemented on the Bitcoin network which ensures 1 block is...Continue Reading
ATO’s Focus on Cryptocurrency and Capital Gains The Australian Tax Office (ATO) has released its four priorities come tax time at the end of this financial year, honing in on four key focus areas, including record-keeping, work-related expenses, rental property income and deductions, but most importantly, capital gains from cryptocurrency assets, property, and shares. An...Continue Reading
The Australian Prudential Regulation Authority (APRA) has published a letter to Australian regulatory bodies on Thursday setting out its expectations of risk management, as well as a roadmap for digital assets policy through 2025. Chairman Waynes Byres detailed in the letter “while activities associated with crypto assets are still relatively limited in Australia,...Continue Reading
The First Bitcoin ETF in Australia: A Game-Changer for Investors After many months of industry consultation, in November of 2021, the Australian Securities and Investments Commission (ASIC), approved long awaited Bitcoin and Ethereum exchange-traded funds (ETFs). In doing so, ASIC has provided the best-practice requirements and guidelines for those issuing Bitcoin or Ethereum ETFs,...Continue Reading
RMIT Supports DAOs Precincts A new report out of RMIT’s Blockchain Innovation Hub, Centre for Cyber Security Research and Innovation and the Digital Ethnography Research Centre has said Decentralised Autonomous Organisations (DAOs), including a Docklands DAO, could pilot a new type of digital economic infrastructure, revitalising precincts in Melbourne’s CBD. This would see local retail,...Continue Reading
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