CoinLoan Weekly: Marathon Eyes at 600% Rise in Hash Rate
Last week, the BTC price rose above $50,000 and broke through $51,000. However, the leading cryptocurrency failed to stay above this level.
Bitcoin pulled the rest of the market with it. The top 10 Digital assets by market capitalization closed the week in green.
As of December 27, Bitcoin is trading at $50,827, with a 24-hour change of +1.5% and a 7-day change of +8.7%
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Similar to Bitcoin, Ethereum moved upwards. The spike of BTC price on December 23 led to other cryptos following the trend, including ETH – it reached $4,157 but failed to keep the momentum.
As of December 27, Ethereum is trading at $4,06, with a 24-hour change of +0.1% and a 7-day change of +3.4%
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XRP also experienced a surge in value. The coin has been struggling to surpass the $1.00 mark. Last week it managed to achieve a $1.02 mark. However, it later fell to $0.91 and stayed at this level until Sunday.
As of December 27, XRP is trading at $0.92, with a 24-hour change of 0.0% and a 7-day change of +10.3%.
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Marathon Eyes at 600% Rise in Hash Rate
US mining company Marathon Digital Holdings has signed a contract with Bitmain to order a record quantity of BTC mining equipment Antminer S19XP.
According to the delivery schedule, the buyer will receive the ordered units between July and December 2022.
Marathon plans to upgrade some of its equipment. The company expects to have a total of approximately 199,000 Bitcoin miners with an aggregate hash rate of about 23.3 EH/s after deploying freshly purchased Antminers.