Invest ideasNews
23 May 2026, 05:50
Bitdeer Sells 201.6 BTC This Week, Continues Liquidation Strategy
BitcoinWorld Bitdeer Sells 201.6 BTC This Week, Continues Liquidation Strategy Nasdaq-listed Bitcoin mining company Bitdeer has sold 201.6 BTC this week, according to a company announcement. The sale represents all of the Bitcoin the firm mined during the period, continuing a pattern observed in recent months where the company liquidates its freshly mined coins rather than holding them on its balance sheet. Bitdeer’s Ongoing Treasury Strategy This is not an isolated event. Bitdeer has repeatedly sold its mined Bitcoin throughout 2025 and into 2026, a strategy that contrasts with some peers who maintain large treasury reserves. The company has not publicly stated a permanent shift away from holding Bitcoin, but the consistent liquidation pattern suggests a focus on operational liquidity and funding expansion plans, including its proprietary mining chip development and data center infrastructure projects. The 201.6 BTC sale comes amid a period of relative price stability for Bitcoin, trading in a range that allows miners to cover operational costs while still generating revenue. For Bitdeer, which operates mining facilities in the United States, Norway, and Bhutan, these sales provide a steady cash flow to reinvest into its business. Market Impact and Context While a single sale of 201.6 BTC is not large enough to move the broader market significantly, it contributes to the overall selling pressure from the mining sector. Industry-wide, publicly traded miners have sold a significant portion of their mined Bitcoin in recent quarters, a trend driven by rising operational costs, post-halving economics, and the need to fund growth. Bitdeer’s decision to sell all mined coins rather than hold a strategic reserve places it in the camp of miners prioritizing cash flow over long-term Bitcoin price appreciation. This approach reduces balance sheet risk tied to Bitcoin’s volatility but also means the company forgoes potential upside if prices rise. What This Means for Investors For investors tracking the crypto mining sector, Bitdeer’s consistent sales signal a company focused on operational efficiency and capital expenditure. The proceeds from these sales are likely being used to fund its next-generation mining chips and to expand its hash rate capacity. Investors should monitor whether this liquidation strategy persists through the next Bitcoin halving cycle, as it will directly impact the company’s revenue and profitability metrics. Conclusion Bitdeer’s sale of 201.6 BTC this week is a routine operational move that aligns with its current treasury management strategy. While not a market-moving event, it reflects the broader trend among publicly traded miners to prioritize cash flow and reinvestment over holding digital assets. The company’s ability to maintain operational efficiency and execute on its expansion plans will determine whether this approach proves successful over the long term. FAQs Q1: Why is Bitdeer selling all its mined Bitcoin? A: Bitdeer has not provided a single definitive reason, but the pattern suggests a focus on operational liquidity. The proceeds are likely used to fund expansion, including the development of proprietary mining chips and data center infrastructure, rather than holding a volatile asset on the balance sheet. Q2: How does this compare to other mining companies? A: It varies. Some miners like Marathon Digital have historically held most of their mined Bitcoin, while others like Riot Platforms have sold portions. Bitdeer’s strategy of selling all mined coins is at the more aggressive end of the spectrum, prioritizing cash flow over potential long-term price appreciation. Q3: Does this sale affect the Bitcoin price? A: A single sale of 201.6 BTC (worth approximately $18 million at current prices) is unlikely to have a significant impact on the overall Bitcoin market. However, when aggregated across the mining sector, these regular sales contribute to the overall supply dynamics and can influence short-term price movements. This post Bitdeer Sells 201.6 BTC This Week, Continues Liquidation Strategy first appeared on BitcoinWorld .
23 May 2026, 05:30
VanEck Mid-May 2026 Bitcoin ChainCheck
Summary Bitcoin recovered +11.8% m/m to ~$78,272, but options open interest stayed flat and put premiums collapsed -51%, indicating the rally is spot-driven, not levered. The 30-day MA hashrate sits -13.2% below its November 11, 2025, peak at 964 EH/s, with 187 days elapsed, the longest and deepest sustained decline in bitcoin’s industrial mining era. The 11 largest US public miners shed ~7 EH/s in Q1 2026 as power capacity moves to AI hyperscalers under 10-to-15-year leases. Government-owned stranded hydro and gas assets become the natural successor. Bitcoin ( BTC-USD ) recovered +11.8% m/m on a spot-led rally even as hashrate set its longest sustained drawdown. US public miners are pivoting to AI; sovereign miners are the natural successors. Please note that VanEck has exposure to bitcoin. Funding Rates Hold Tepidly Positive Bitcoin price action over the past 30 days stabilized after a deep prior-month drawdown, with the 30-day moving-average ((MA)) price recovering to ~$78,272 (+11.8% m/m) and the spot close on May 14 at $81,394. Despite the price recovery, perpetual-futures sentiment remains outright cautious. The 30-day moving average of the annualized basis has slipped to -0.45%, down from 1.27% a month ago and well below the 3.16% reading from a year ago. The current 30-day MA sits in the 15th percentile of all observations since November 2020. The 7-day moving average sits higher at 3.13%, a rebound from April's negative territory but still well short of levels typically associated with bullish positioning. Options Positioning: Hedging Unwinds as Vol Collapses to Historic Lows Bitcoin Put Premiums Collapsed -51% Month-Over-Month as Hedging Demand Unwound Source: VanEck Research, Glassnode as of 5/18/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. The options complex rotated sharply over the last 30 days as hedging demand collapsed amid the price recovery. Put premiums paid dropped -51% m/m to $281.8M, while call buying fell a far more modest -8%. The Call/Put premium ratio swung from 0.82 last month to 1.54, signaling a decisive rotation out of downside protection and into upside positioning. Despite the move, the Call/Put ratio is arguably neutral and sits at only the 46th all-time percentile. Options open interest has remained flat as BTC recovered, confirming the rally is spot-driven rather than leveraged-options-driven. Total options OI grew +0.8% m/m to $33.0B and sits at the 18th percentile of the trailing year versus a 1-year average of $40.3B. Implied volatility (IV) is historically cheap across the 1-month options curve. The 1-month Call IV of 37% was down -8.2 percentage points m/m and now sits at the 3rd all-time percentile. Meanwhile, 1-month Put IV at 44% is -12.2 percentage points m/m and sits at the 12th percentile. IV Skew, or the Put/Call IV differential, remains defensive despite the IV collapse. The 1-month put/call skew fell to +6.9 percentage points from +10.9 percentage points a month earlier, sitting at the 72nd all-time percentile. This suggests that BTC puts are still richer than calls on a relative basis. Traders are not paying up for downside protection using puts, but the fear bid is structurally present. 1-Month Options Snapshot: Volatility Sits at Multi-Year Lows Metric Last 30 Day Prior 30 Day All-Time Percentile 1m Call IV 37% ~52% 3rd 1m Put IV 44% ~60% 12th 1m Put/Call Skew +6.9pp ~+9pp 72nd Call/Put Premium Ratio 1.54 0.82 46th Put Premiums Paid (30d sum) $281.8M ~$575M -- Total Options OI $33.0B ~$32.7B 18th (1-yr) Source: VanEck Research, Glassnode as of 5/14/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. Onchain Activity and Network Usage Network throughput has accelerated over the past 30 days. Daily transactions averaged ~590k, up +9.2% m/m and +46.4% y/y, sitting at the 99th percentile of all-time history and the 99.7th percentile of the trailing year, running about +33% above the trailing 12-month average. Daily active addresses (644.6k) and new addresses (287.5k) ticked up +4.7% and +2.5% m/m, respectively, but remain well below year-ago levels (-13.2% and -7.5% y/y) and in the 20th and 12th percentiles, indicating throughput is being driven by repeat users rather than new entrants. Daily inscriptions (49.8k) faded another -5.7% m/m and are -47.6% y/y, continuing the trend of ordinal-driven activity declining on the network. Transfer volume in BTC terms ran at 782k/day (+13.7% m/m); in USD terms, ~$61.1B/day (+26.5% m/m, -0.8% y/y), with the price recovery doing most of the dollar-denominated work. The share of active supply in the last 180 days slipped -160 bps m/m to 28.4% (56th percentile), echoing April’s holder dynamics. Holders appear to be growing more dormant even as price recovers. The percentage of supply in profit climbed to 78.9% (+5.7% m/m, 24th percentile), and the unrealized P/L ratio rose to 0.307 (+37.0% m/m, -41.9% y/y, 23rd percentile). Miner revenue averaged ~$35.4M/day (+12.6% m/m, -17.5% y/y), and miner-to-exchange flows in USD ran at ~$10.5M/day (+9.5% m/m, -18% y/y). BTC dominance closed the period at 59.9% (+254 bps m/m, 67th percentile), a partial reversal of the altcoin rotation earlier in the quarter. Long-Term Holder Behavior The cohort picture has shifted decisively toward the long end and the youngest long-term cohorts. The April note flagged elevated transfer activity among 5y-7y, 7y-10y, and 10y+ holders, while younger long-term cohorts pared back. Over the last 30 days, the long-end story has intensified and broadened: the 10y+ cohort moved 51.3k BTC (+30% m/m), placing it in the 89th percentile of all rolling 30-day windows over the past year and the 92nd over the past two years. The 1y-2y and 2y-3y cohorts sit at the 84th-87th percentiles on both bases, with 2y-3y up +132% m/m. The 7y-10y cohort prints a 58th percentile over the past year. The genuine quiet spots are the 3y-5y and 5y-7r cohorts, which made transfer activity in the 20th and 24th percentiles over the past year. Despite the elevated transfer activity amongst longer-term holders, the 5y-7y, 7y-10y, and 10y+ age groups’ total token balances sit at the 48th, 93rd and 99th percentiles over the past 4 years. Likewise, not all spent volume represents selling: some flows reflect migrations to quantum-resistant addresses, digital asset treasury ((DAT)) contributions, or routine wallet maintenance. However, the younger cohorts of long-term holders have seen substantial churn. The 1y-2y, 2y-3y, and 3y-5y maturity brackets holdings sit at the 42nd, 10th, and 2nd percentiles over the past 4 years! Realized P/L confirms the easing of distribution pressure. The 30-day average net realized P/L flipped from -$139M/day in the prior 30-day window to +$26M/day in the most recent window, indicating that, on net, coins moving onchain are no longer locking in losses. From April 15 to May 15, 19 out of the 30 days saw hodlers realize positive profit on their Bitcoin transfers. Long-Term Holder Spent Percentiles (Last 30 Days, Share of Supply Spent): Oldest LTH Cohorts Reactivate, Oldest Quiet Down Source: VanEck Research, Glassnode as of 5/19/2026. 'Last 30d share' = sum of supply spent by cohort over trailing 30 days as a fraction of cohort supply. Not all spent volume represents selling. Past performance is not a guarantee of future results. Mining Dynamics: Hash-Rate Drawdown Signal Still Active Bitcoin Hashrate Suffers Longest Sustained Drawdown in Industrial Mining Era Source: VanEck Research, Glassnode as of 5/18/2026. The hash-rate drawdown that began in mid-November is no longer a blip; now represents the longest and deepest sustained decline in Bitcoin's industrial mining era. The 30-day MA hashrate sits at 964 EH/s, -13.2% below the 1,110 EH/s peak set November 11, 2025, a drawdown that's already run 187 days with a peak intra-episode trough of -14.5%. Momentum readings reinforce the picture: the 30-day change in the hash-rate MA sits in the 19th percentile of all rolling 30-day moves, and the 90-day change in the 16th percentile. In Bitcoin's history, contractions of this magnitude are uncommon. Mining difficulty tells the same story, since it tracks hashrate. Currently, its 30-day change sits in the 10th percentile, the 90-day change in the 8th, and difficulty itself is -12.7% below its November 27, 2025 high. US Public Bitcoin Miner Hashrate: Q4 2025 vs Q1 2026 Company Ticker Q4 2025 (EH/s) Q1 2026 (EH/s) Change (EH/s) y/y % Status Riot Platforms RIOT 34.0 42.3 +8.3 +24% Partial AI Pivot Bitdeer BTDR 43.2 50.2 +7.0 +16% Partial AI Pivot MARA Holdings MARA 51.9 55.5 +3.6 +7% Partial AI Pivot Hut 8 HUT 1.8 1.8 - - AI pivot — winding down American Bitcoin ABTC 20.2 20.2 - - Mining — growing fast Core Scientific CORZ 10.9 9.7 -1.2 -11% AI pivot — exiting mining CleanSpark CLSK 47.0 44.5 -2.5 -5% Partial AI Pivot TeraWulf WULF 6.8 4.0 -2.8 -41% AI pivot — winding down Cipher Digital CIFR 15.6 11.1 -4.5 -29% AI pivot — winding down IREN IREN 43.0 35.8 -7.2 -17% AI pivot — winding down Keel KEEL 19.5 12.0 -7.5 -38% AI pivot — winding down Total (11 miners) 293.9 287.1 -6.8 -2% Source: VanEck Research, 8-K / 10-K quarterly production disclosures, Q4 2025 & Q1 2026 earnings releases as of 5/18/2026. The US public miner cohort is undergoing a structural reorientation that is reshaping the composition of global Bitcoin hashrate. The logic driving the pivot is financially compelling. AI and high-performance computing (HPC) data center infrastructure commands valuations per megawatt that are multiples of what Bitcoin mining has historically attracted, and that gap has widened sharply. The gross valuation afforded per MW of AI capacity has grown roughly 3x since the summer of 2025, creating a powerful incentive for any miner sitting on contracted power to reconsider how that megawatt is best monetized. The trend became impossible to ignore in Q1 2026. Across the 11 largest publicly traded US Bitcoin miners, aggregate installed hashrate declined by roughly 7 EH/s between Q4 2025 and Q1 2026, as companies began physically decommissioning mining fleets and repurposing substations, cooling systems, and data hall layouts for GPU workloads. This is not a temporary curtailment but a full pivot away from Bitcoin mining that permanently removes these power sites from the Bitcoin network. The exits are coming in waves and on different timelines. CORZ will be a near-pure-play AI infrastructure company by early 2027, having already reduced its mining footprint to one or two sites by year-end 2026. CIFR is running its last remaining Odessa mine to exploit a favorable fixed-price power purchase agreement ((PPA)), with CEO Tyler Page citing the end of July 2027 as an outside date for full exit. WULF has told investors it will be out of Bitcoin mining by the next halving, roughly April 2028. IREN and KEEL have both committed to multi-year exits without specifying hard dates, though KEEL is arguably the furthest along, having already sold its Latin American Bitcoin operations, rebranded, redomiciled to the US, and halted all new mining capital expenditure. What makes this wave distinct from prior cycles of miner capitulation is the permanence. Miners are not switching off rigs because Bitcoin economics are temporarily unattractive. They are signing 10-to-15-year leases with investment-grade hyperscalers, locking in contracted revenue streams that dwarf anything the mining business could offer, and structurally committing the underlying power capacity to AI for a generation. US Public Bitcoin Miners Shed ~7 EH/s in Q1 2026 as AI Pivot Accelerates Equity Value Creation ($mm/MW) Source: VanEck Research, Corporate disclosures, as of 5/18/2026. We believe that the most logical successor to the departing corporate fleet is the sovereign miner. Nation-states face no quarterly earnings pressure, no institutional shareholder base demanding an AI multiple, and no cost of capital in the conventional sense. Government-owned stranded hydro or gas assets should continue to prove appealing as Bitcoin mining sites. Russia is a significant example, running an estimated 13-17% of global hashrate anchored by Siberian hydro and natural gas, though rising domestic energy costs have stalled its hashrate growth since 2025. BitRiver operates with implicit state backing, and Moscow formalized mining as a legally taxable activity in 2024, but grid power has climbed above $0.06/kWh in many regions, squeezing margins and pushing some operators to relocate abroad. The Gulf states represent the most consequential emerging vector, with Saudi Arabia sitting on roughly 1.5 billion cubic feet per day of flared Aramco gas and the UAE already hosting licensed sovereign-backed programs through Abu Dhabi Global Market ((ADGM)). Bhutan accumulated over 13,000 BTC against Himalayan hydro surplus through its sovereign wealth fund Druk Holding, representing the purest early proof of concept for state-directed mining. Holdings have since dropped to roughly 3,121 BTC, a -76% reduction in 18 months, with onchain data showing no significant new mining inflows for over a year, though officials deny any sales. Ethiopia's sovereign wealth fund signed a $250 million memorandum of understanding (MOU) with Hong Kong-based West Data Group in February 2024 to mine against GERD hydro overflow, with foreign currency generation the explicit motivation. These are countries with stranded energy surplus that would be best monetized by Bitcoin mining. "This motivation should prove durable across Bitcoin price cycles in a way corporate mining economics are not. As US public miners decommission fleets to build AI data centers, older-generation ASICs will flow into distressed secondary markets where sovereign and state-affiliated buyers with cheap power and long time horizons are the natural acquirers. We believe that the hardware will find the energy." Frequently Asked Questions Why is bitcoin’s hashrate falling in 2026? The 30-day moving average hashrate has been in drawdown for 187 days, marking the longest and deepest sustained decline since bitcoin reached industrial scale. The proximate cause is the AI pivot among US public miners, which shed roughly 7 EH/s of bitcoin hashrate in Q1 2026 as they redirected power capacity to high-performance computing tenants under 10-to-15-year leases. Difficulty has reset -12.7% over the same period, partially offsetting the network impact. Which sovereign nations are mining bitcoin? Russia operates an estimated 13-17% of global hashrate, anchored by Siberian hydro and natural gas. Bhutan, through its sovereign wealth fund Druk Holding, accumulated over 13,000 BTC against Himalayan hydro surplus, though holdings have since drawn down to roughly 3,954 BTC. The Gulf states are the most consequential emerging vector, with Saudi Arabia sitting on ~1.5 billion cubic feet per day of flared Aramco gas and the UAE hosting licensed sovereign-backed programs through ADGM. Ethiopia’s sovereign wealth fund signed a $250 million MOU in February 2024 to mine against GERD hydro overflow. What does declining hashrate mean for bitcoin’s price? Historically, sustained hashrate drawdowns have shown no consistent directional relationship with spot prices. The current setup is structurally distinct: capacity is not being switched off in response to weak economics but redirected to AI tenants under long-term contracts, which removes that capacity from bitcoin mining for a decade or longer. In the near term, the spot recovery to ~$78,272 (+11.8% m/m) has occurred alongside the hashrate drawdown, suggesting price is being driven by demand-side factors independent of mining capacity. Important Disclosures Definitions Bitcoin ((BTC)): A decentralized digital currency operating on a peer-to-peer network, secured by proof-of-work mining and a fixed supply schedule capped at 21 million units. Hashrate: The total computational power, measured in hashes per second, expended by the global bitcoin mining network to validate transactions and secure the blockchain. Typically expressed in exahashes per second (EH/s). Long-Term Holder ((LTH)): Onchain classification for bitcoin held in wallets for 155 days or longer without movement. Considered a proxy for conviction-driven supply. Mining Difficulty: A dynamic parameter that adjusts every 2,016 blocks (~2 weeks) to maintain a 10-minute average block time as aggregate hashrate changes. Put-Call Ratio: Ratio of put option open interest to call option open interest. Higher values indicate elevated hedging or bearish positioning. Index performance is not representative of fund performance. It is not possible to invest directly in an index. Risk Considerations This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets. Digital asset prices are highly volatile, and the value of digital assets, and Web3 companies, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment. Digital assets are not covered by FDIC or SIPC insurance. Digital assets are digital representations of value that function as mediums of exchange, units of account, or stores of value, but they do not have legal tender status. Digital assets are sometimes exchanged for U.S. dollars or other currencies around the world, but they are generally not backed or supported by any government or central bank. Web3 companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies. All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance. © Van Eck Associates Corporation. Original Post
23 May 2026, 00:30
Whale Alert: Wallets Tied to Bitmine Receive $125.9 Million in Ethereum
BitcoinWorld Whale Alert: Wallets Tied to Bitmine Receive $125.9 Million in Ethereum Blockchain data reveals that two recently created cryptocurrency wallets, believed to be associated with the mining firm Bitmine, have received a combined total of 60,000 Ether (ETH) from the exchange Kraken and the digital asset custodian BitGo. At current market valuations, the transfer is worth approximately $125.9 million. Details of the Transfer On-chain analysts identified the wallets shortly after the transactions were processed. The funds originated from two distinct sources: a portion was withdrawn from Kraken, a major cryptocurrency exchange, while the remainder was moved from BitGo, a regulated digital asset custody platform. The wallets themselves had no prior transaction history, suggesting they were created specifically to receive and potentially hold this large allocation. The movement of such a significant amount of ETH from both an exchange and a custodian is notable. It often indicates a strategic accumulation or rebalancing by a large entity, rather than typical retail trading activity. The connection to Bitmine, a firm involved in cryptocurrency mining and infrastructure, adds a layer of industrial context to the transfer. Market and Industry Implications Large, on-chain movements of this scale are closely monitored by traders and analysts for potential market impact. While the transfer itself does not directly affect the spot price of Ethereum, it can signal the sentiment of large holders, often referred to as ‘whales.’ Moving assets off exchanges is generally interpreted as a bullish sign, as it reduces the available supply for immediate sale. Conversely, moving assets to a custodian like BitGo may indicate a preference for secure, institutional-grade storage. For the mining sector, this transfer could represent Bitmine securing operational capital or treasury reserves. Mining firms often accumulate cryptocurrency during periods of low prices or high operational efficiency, using custodians for safekeeping. The timing of this transfer, amid fluctuating energy costs and Ethereum’s transition to proof-of-stake, provides a glimpse into the financial strategies of large-scale miners. Why This Matters for Investors Understanding the behavior of large wallets is crucial for retail investors and market participants. These movements often precede or coincide with broader market trends. While not a definitive signal, the accumulation of ETH by an entity linked to mining infrastructure suggests a long-term conviction in the asset’s value. Readers should view this as one data point in a complex market landscape, rather than a direct call to action. Conclusion The receipt of 60,000 ETH by wallets linked to Bitmine represents a significant capital allocation within the cryptocurrency ecosystem. The involvement of both a major exchange and a regulated custodian highlights the evolving infrastructure for large-scale digital asset management. As always, market participants should conduct their own research and consider the broader context of on-chain data before making investment decisions. FAQs Q1: Who is Bitmine? Bitmine is a cryptocurrency mining and blockchain infrastructure company. They are known for operating large-scale mining facilities and providing related services to the digital asset industry. Q2: Why is moving ETH off an exchange considered significant? When large amounts of cryptocurrency are moved from an exchange to a private wallet, it often suggests that the holder intends to hold the asset for the long term rather than sell it immediately. This can reduce sell pressure on the market. Q3: Should I change my investment strategy based on this news? No. While whale movements are informative, they represent only one aspect of market analysis. It is important to consider multiple factors, including market trends, regulatory news, and your own risk tolerance, before making any financial decisions. This post Whale Alert: Wallets Tied to Bitmine Receive $125.9 Million in Ethereum first appeared on BitcoinWorld .
22 May 2026, 23:30
Bitcoin Mining Founder Joins SpaceX’s First Human Mars Mission
SpaceX has announced its first crew member for an interplanetary mission to Mars, and it happens to be someone with roots to Bitcoin mining. F2Pool Co-Founder Joins First SpaceX Human Flight Mission To Mars According to a SpaceX website announcement , Chun Wang is set to fly aboard Starship’s first human spaceflight interplanetary mission to Mars. Wang was previously the commander of Fram2, the first mission that saw humans fly over the Earth’s poles. Before his SpaceX fame, Wang was known for being the co-founder of F2Pool , a major Bitcoin mining pool. A “ mining pool ” refers to a collective of miners who pool together their computing power to have better odds at striking the block reward. At one point, F2Pool was the largest such pool in the entire world. Today, it’s still quite dominant in the space, ranking third on MiningPoolStats ‘ list. From the table, it’s visible that F2Pool hosts a Bitcoin Hashrate or total computing power of 111.35 exahashes per second (EH/s) right now, equivalent to 10.2% of the network’s total Hahrate. Only Foundry and AntPool are ahead of F2Pool with computing powers of 303.84 EH/s and 183 EH/s, respectively. While F2Pool is for proof-of-work (PoW) blockchains (that is, networks that involve the process of mining for reaching consensus), the Chinese-born investor also eventually founded something for the proof-of-stake (PoS) networks: Stakefish, a non-custodial validator that allows investors to stake across a number of blockchains, including Ethereum. Back in 2023, Wang proposed the idea of a polar spaceflight to SpaceX, which culminated into Fram2. The mission was privately funded by him, with SpaceX acting as the operator. Now, it seems the Maltese-citizenship holder has set his eyes on Mars. “The two-year mission will explore outside the Earth-Moon system before flying-by the Red Planet and returning to Earth,” noted the announcement. Mars is still far, though; Wang initially has to embark on the first planned SpaceX commercial human spaceflight around the Moon. For this mission, he will be joining the company of Dennis and Akiko Tito. SpaceX explained: The week-long circumlunar fly-by mission will help advance Starship’s systems for deep-space, long-duration missions and is planned to fly within 200 km of the Moon’s surface. Speaking of SpaceX, the company filed its S-1 registration statement with the US Securities and Exchange Commission (SEC) this Wednesday ahead of its planned stock market debut on June 12th. The filing revealed something interesting: the Elon Musk-founded firm held 18,712 Bitcoin as of March 31st. This stack, worth roughly $1.45 billion, is significantly larger than some treasury holdings tracker websites estimated for SpaceX. The company is also holding a notable gain on these holdings as its cost basis per Bitcoin stands at just $35,320. Bitcoin Price Bitcoin has been trading sideways over the last few days as its price is still trading around $77,300.
22 May 2026, 22:08
SpaceX announces Mars commander with $300 million in BTC
🚀 SpaceX chooses crypto investor Chun Wang to command its first crewed Mars mission. He manages $300 million in BTC and leads the F2Pool mining pool. 🪐 Critical data: SpaceX holds 8,285 $BTC and eyes a $1.75 trillion IPO. Continue Reading: SpaceX announces Mars commander with $300 million in BTC The post SpaceX announces Mars commander with $300 million in BTC appeared first on COINTURK NEWS .
22 May 2026, 22:00
Here’s The 411 Behind The Famous $50 XRP Candle On Gemini In 2023
While discussions about XRP’s current price action mount across the community, a crypto analyst is resisting one of the most talked-about moments in the market. This review has triggered renewed hope about the altcoin’s future performance and potential to reach audacious levels. XRP Touches The $50 Level On Gemini CharuSan, a crypto analyst and engineer, has reignited interest in the famous $50 XRP candle that took place on the Gemini platform years ago. At the moment, the cryptocurrency space was engulfed in heated speculation due to the extraordinary price surge, with some seeing this as an indication of its true potential. To date, the notorious candle continues to be one of the most enigmatic moments in recent cryptocurrency trading history as interest in historical market anomalies increases. In his post on the social media platform X, the expert has shed light on the truth behind this move in August 2023. Given the distance from its value at that time, there were speculations that the move was a glitch or a glimpse into hidden market dynamics . However, CharuSan claims that this was not a glitch; rather, it was a 100% real market event and a perfect example of catastrophic slippage. When the altcoin was relisted on the American-based cryptocurrency exchange, the liquidity around the order books was flat. After that, a market buy order immediately devoured all available sell orders on the exchange, sweeping the book until it executed a rogue sell order sitting at precisely the $50 zone. An interesting part about this move is that it only took about $37,000 in volume to launch the price of XRP to $50. The Mathematical Theory Behind The Sudden Move According to the expert, this event is the absolute mathematical proof of why tier-1 banks are unable to just depend on on-demand sourcing during peak volumes . This implies that these banks must hold XRP in their own isolated liquidity pools. If a mere $37,000 can lead to a catastrophic slippage on a thin book, the system would be totally frozen by an institutional cross-border transfer worth billions of dollars. However, this is possible if the liquidity required is not already deeply pooled and locked by the banks themselves. In order to prevent this exact pattern, financial giants cannot just plug into ODL as passive users. Instead, they require pre-funded, locked capital and dedicated XRP liquidity pools under their own management. At the same time, the Gemini candle proved that without deep, bank-held liquidity pools, managing global institutional volume is mathematically impossible. CharuSan highlighted that investors cannot carry out massive transfers at low price tags like $20 and $30. His analysis is backed by the fact that these transfers could trigger catastrophic slippage, leaving traders completely unable to control both the market and the transactions. “So, by now you should understand what a massive issue slippage is, and why deep liquidity is mandatory to control it,” the expert concluded. At the time of writing, the XRP price was trading at $1.38.
