Insider leaks: Jihan is stepping down feom CEO role as he sees high probability of bankruptcy, decreasing personal liability! Early estimates for Bitmain 2018 Profits is USD1.2bn LOSS!!!

Insider leaks: Jihan is stepping down feom CEO role as he sees high probability of bankruptcy, decreasing personal liability! Early estimates for Bitmain 2018 Profits is USD1.2bn LOSS!!! submitted by /u/DesignerAccount
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Bitcoin – The Currency of the Internet

My friends had no problem buying #bitcoin at $7K all the way to $20K. Most of them have panic sold at a loss and now won’t dare to re-invest at $4K. Something tells me this cycle will repeat again at $40K to $80K per $BTC. 🤔

My friends had no problem buying #bitcoin at $  7K all the way to $  20K. Most of them have panic sold at a loss and now won't dare to re-invest at $  4K. Something tells me this cycle will repeat again at $  40K to $  80K per $  BTC. 🤔 submitted by /u/Bitcoin1776
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Bitcoin – The Currency of the Internet

Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million. What do you think about Hut 8’s quarterly performance? Let us know in the comments below.

Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $  8.7 Million. What do you think about Hut 8’s quarterly performance? Let us know in the comments below.

Hut 8 Mining Corp., a Canadian bitcoin mining company, has released its third quarter earnings report, which shows a net loss of US $ 8.7 million on higher depreciation costs. Depreciation spiked to $ 13.3 million, wiping out mining profit which came to $ 6.7 million.

Revenue Soars but Profits Fall

During the third quarter of 2018, the Toronto-listed miner extracted 1,978 BTC at a cost of $ 3,394 per coin, almost half the average market price of bitcoin for the three months, which averaged $ 6,400. Hut 8 said this difference explains the profit on mining, at margins of about 51 percent. Overall, the company mined 3,581 BTC for the nine months to Sept. 30, and 4,200 BTC since operations began in December 2017.

According to the earnings release published Nov. 8, Hut 8 reported revenue increase of 126 percent to $ 13.4 million from $ 5.9 million the previous quarter due to increased operational capacity. The $ 189 million-valued company deployed an additional 16 Blockboxes in September at its mining facility in the City of Medicine Hat (CMH), bringing it to a total 56 Blockboxes at the site.

Adjusted earnings before interest, tax, depreciation and amortization soared 86 percent to $ 5.5 million from $ 2.96 million a quarter earlier, “largely as a result of increased revenue from the new facility at CMH.” Hut 8 expects to see improved efficiency of the ASIC chips used to mine bitcoin during the colder months in Alberta, western Canada.

Through Bitfury, Hut 8 has access to a proprietary mix of hardware, software and operational expertise to construct, optimize and manage data centres in low-cost and attractive jurisdictions.

Shares of Hut 8 are up 4.21 percent at $ 2.25 in Toronto trading at the time of going to press. Over the past 52 weeks, Hut 8 shares have reached a high of $ 3.80 and a low of $ 1.77.

What do you think about Hut 8’s quarterly performance? Let us know in the comments below.

https://i.redd.it/imycyxv6uhx11.png

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Bitcoin – The Currency of the Internet

Exactly 5 years ago Wired wrote “The world’s most popular digital currency really is nothing more than an abstraction. So we’re destroying the private key used by our Bitcon wallet.” The loss is currently worth $124,453.58

Exactly 5 years ago Wired wrote "The world’s most popular digital currency really is nothing more than an abstraction. So we’re destroying the private key used by our Bitcon wallet." The loss is currently worth $  124,453.58 submitted by /u/edlund10
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Bitcoin – The Currency of the Internet

Markets Update: BTC Prices Suffer from a 65% Loss Since December (news.bitcoin.com)

Bitcoin prices and cryptocurrency markets, in general, have been declining in value for the past six weeks straight with a few bounces here and there. Currently, BTC/USD markets have reached the lowest price in weeks touching $ 6,600 on February 5, 2018, erasing the past three months worth of gains.
Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media

Bitcoin

Bitcoin Sinks Below $10k Following $133 Billion January Loss

Bitcoin price has dropped to the lowest level since for two weeks and could drop below $ 9,000 in the next 24 hours, price charts indicate. The downward move follows a month for bitcoin when its market capitalization has tumbled from a high of $ 296 billion on Jan. 5 to $ 163 billion today – a $ 133 billion …
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