29th April 2024 > > Solo mining & Australia.
tl;dr
Live the dream with solo mining. Australia is on the verge of allowing investors to join the crypto revolution.
Market Snap
Market Wrap
BTC’s price has been firmly range bound for two months now with a couple of attempts at an upside breakout. How long can this period of consolidation last for?
Curious Cryptos’ Commentary – Solo mining of BTC
Most miners operate on an industrial scale, looking much like this:
Behemoths such as RIOT, ARB, WULF, CLSK, and IREN (to take a random sample from the CC Treasury portfolio) claim the vast majority of mining rewards and associated block fees. But every now and again, a pleasant surprise awaits someone.
Yesterday a solo miner successfully added block 841,286 to the blockchain taking home over 3.125 BTC worth approximately $200k. This is only the 282nd time a solo miner has created a block. The probability and hence frequency of doing so diminishes over time.
…
Congratulations are due to that solo miner. Meanwhile, this is the mining operation at CC Towers. “Valid blocks” remains firmly stuck at zero …
Note the thrillingly exciting blue and green colours in both photos, colours that are de rigeur for all mining operations, large or small.
Curious Cryptos’ Commentary – Australia
The largest Australian stock exchange, ASX, will approve spot BTC ETFs during 2024 according to a report from Bloomberg.
Two applications have already been submitted, and one should expect a whole bunch more.
Reports suggest that Australian investors hold over $1bn of BTC on centralised cryptocurrency exchanges which remain unregulated and unprotected. ETFs will directly address that issue, paving the way for much greater inflows into BTC.
The ASX may need to move fast. Asset manager Monochrome has lodged an application with the much smaller Cboe exchange. A spokesperson for Monochrome expects approval within the next few weeks.
More fuel for the demand shock.
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