Chain News Daily Official TheBitTimes.com

According to the report, Europe is home to nine out of the ten least profitable countries for Bitcoin production, determined by household electricity costs. There is a significant worldwide contrast in household electricity expenses for individual Bitcoin (BTC) miners. While producing one Bitcoin in Italy costs $208,500, in Lebanon, it’s roughly 783 times cheaper , according to a recent report. Published on Aug. 17, CoinGecko’s report revealed that only 65 countries are profitable for solo Bitcoin miners, based solely on household electricity costs. Among these, 34 countries are in Asia, while Europe only has five.  However, solo Bitcoin miners find themselves at odds with the worldwide average of household electricity costs.  “The average household electricity cost to mine one Bitcoin is $46,291.24, which is 35% higher than the average daily price of 1 BTC in July 2023 ($30,090.08),” the report stated. The report identified Italy as the costliest country for household Bitcoin product...

Following a favorable partial verdict in the long-drawn SEC court battle, the XRP token surged over 90% on July 13 reaching a new yearly high of $0.90. The trading volume of XRP tokens on the South Korean crypto exchange Upbit has surpassed that of Bitcoin (BTC) in the past 24 hours . The XRP/KRW trading pair saw $2.6 billion in trading volume in the last 24 hours owing to Ripple’s partial win against the United States Securities and Exchange (SEC) Commission in its long-drawn court battle. The buying frenzy for XRP saw the token account for 46% of all trading volume on Upbit followed by Bitcoin with just 5% of the total share. XRP token led the bullish momentum in the crypto market in the past 24 hours helping several other altcoins to rise in double digits. 24 hour trading volume on UpBit, Source: Coingecko The buying frenzy for the token was not limited to South Korea. The XRP price saw an 92% surge on July 13, reaching a new one-year high of $0.91. This surge helped XRP t...