China News by Thebittimes.Com

New Mexico is the cheapest US state to mine Bitcoin in terms of average electricity cost, while Hawaii is the by far the most expensive. It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to  Bitcoin Mining data resource Hashrate Index and Luxor. Bitcoin hashprice has dropped 58% in a year Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs. Notably, between January 2022 and January 2023, the commercial electricity tariff surged at an average of 10.71% per U.S. state, higher than the average consumer price index surge of 6.4%. Average industrial rate rise between January 2022 and 2023. Source: EIA/Hashrate Index/Luxor Coupled with Bitcoin's downward performance in 2022, which saw a maximum drawdown from around $48,000 to below $15,000, it is evident that active miners generated consistent losses due to the increase in operational costs a...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Cardano aims to solve the blockchain trilemma through its sophisticated proof-of-stake (PoS) protocol called Ouroboros. However, its native token has been hard-hit by the bearish waves that have swept through the crypto market.  Is there a chance of a bull run soon? Vasil Upgrade a Stepping Stone The Cardano team, led by former Ethereum co-founder Charles Hoskinson, has been deploying upgrades. The latest is the Vasil hard fork , which makes the peer-reviewed blockchain more scalable with minimal user cost. However, the team is not done yet, with even more scheduled upgrades expected in the future. At the moment, Cardano is reaping the benefits of the Vasil Upgrade, although its native token price has not reflected this. Since the deployment of the hard fork, the transactions on Cardano’s layer-1 blockchain hav...