Connect with us

Bitcoin

Bitmain Is Moving To Europe But MoonLite Got There First

Published

on

MoonLite

Ask anyone familiar with the bitcoin space to name a bitcoin mining company and chances are they’ll say Bitmain. Bitmain is a privately-owned multi-national semiconductor company headquartered in Beijing, China, which is known for two things – one, for its range of industry gold standard bitcoin and other cryptocurrency mining equipment, Antminer, and two, for its operating one of the worlds largest bitcoin mining farms in Inner Mongolia, an autonomous region that’s part of China.

Over the last six months, however, regulatory actions from the Chinese government have forced Bitmain to reconsider its operational approach. Sure, Mongolia is autonomous from central China, but this far from insulates Bitmain from the whims of the Chinese government and, as such, there have long existed rumors that Bitmain will diversify its geographical approach and set up shop somewhere that isn’t as susceptible to government action.

And this week, we got confirmation of these rumors.

The company just announced a brand new arm of its mining operations, a subsidiary, called Bitmain Switzerland that, as its name suggests, is located in Switzerland. Europe has proven incredibly accommodative of cryptocurrency companies both from a regulatory and a local talent pool perspective and when these factors are coupled with the geography, climate and tax aspects of a North Central European location, it looks as though Bitmain has made a smart decision.

There’s another company, however, that’s beaten Bitmain to the punch – MoonLite.

And in the case of MoonLite, investors are able to pick up an exposure to the company’s growth right now.

MoonLite is a bitcoin mining company that is currently conducting an initial coin offering (ICO) designed to raise the capital it needs to build and operate a large-scale bitcoin and other cryptocurrency mining facility in Iceland. Just as is the case in Switzerland, Iceland is very well placed as a home for a bitcoin mining facility for a variety of reasons – tax law, climate (it’s cool enough to not require expensive cooling equipment), talent pool (Iceland has a 100% literacy rate) and, perhaps most important, unrestrictive government regulatory activity.

MoonLite aims to have the first phase of its mining operations live by August 2018, at which point the company will have 28,000 Ths hash power dedicated to bitcoin mining and 504,000 Mhs to Litecoin mining.

In a subsequent phase 2, this will rise to 56,000Ths for bitcoin, 504,000 Mhs for Litecoin and will include Dash mining at 15,000Ghs.

By a third phase of the company’s operational rollout, the Icelandic facility will be mining bitcoin at 120,000 Ths, Litecoin at 1,008,000 Mhs and Dash at 30,000 Ghs.

In other words, this is going to be a very large operation and it’s going to position MoonLite as one of the leading bitcoin and alternative cryptocurrency mining companies in the world.

So how can an investor that wants to pick up an exposure to this facility (and subsequent growth) do so?

As mentioned above, the company is currently in the early stages of an ICO, with a pre-sale currently underway. As part of the pre-sale, MoonLite is offering bonus tokens to any participants, with the bonus available between 100-300%, depending on the scale of participation of the individual in question.

Once the presale completes (and it’s live for another two and a half weeks), the sale will move into a second phase whereby investors will receive a 50% sign up bonus and – subsequent to the second phase – a third phase will open whereby no bonus is available.

In the current phase, 1000 of the company’s tokens (called MNL) are available for 1ETH and investors looking to participate can do so using a range of different methods, including Visa and MasterCard (for those not wanting to first purchase crypto) and the spectrum of top-tier coins – Litecoin, bitcoin, Dash, Ripple and more.

Check out the Moonlite whitepaper here for more information.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Christian Barrette via Flickr

Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

Published

on

By

Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

Continue Reading

Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

Published

on

By

Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

Continue Reading

Bitcoin

Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

Published

on

By

Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

Continue Reading

Trending