Skip to main content

Featured Story

Produced by Daniel Aharonoff & Mogul Media AI

Who Owns 5% of Ethereum? Bitmine's $16.4B Treasury Bet

One Company, 6 Million ETH: Crypto's Boldest Treasury Bet Co-produced by Daniel Aharonoff and DigitalDan Some weeks in crypto, the biggest story isn't a hack, a halving, or a headline-grabbing ETF launch. Sometimes it's a spreadsheet. This morning, Bitmine Immersion Technologies published its weekly holdings update, and the numbers are staggering enough to rearrange how you think about who actually owns Ethereum. As the chief editor of ethdan.me, I've spent years tracking whale wallets, ETF inflows, and protocol upgrades. But I've never seen a single public company sit on this much ETH. Six million coins. Nearly five percent of the entire supply. A projected $363 million a year in staking revenue alone. Let that sink in. What's the Big Deal? On Monday, October 5, Bitmine Immersion Technologies (NASDAQ: BMNR) announced that its Ethereum treasury has crossed 6 million ETH — 6,016,414 tokens to be exact, valued at $2,726 apiece for a total of roughly $16.4 bi...
Post a Comment
Read more
Produced by Daniel Aharonoff & Mogul Media AI

Lightning Strikes: Bitcoin's Lightning Network 1,000x Cheaper than Visa and Mastercard, Says Glassnode Data

As an Ethereum expert, it's no secret that I believe in the power and potential of blockchain technology. That being said, I have to give credit where credit is due. Recent data from Glassnode has shown that Bitcoin's Lightning Network is 1,000x cheaper than Visa and Mastercard, which is an impressive feat.

For those who may not be familiar with the Lightning Network, it's a second layer protocol built on top of the Bitcoin blockchain. Its purpose is to facilitate faster and cheaper transactions by allowing users to create payment channels that can be used to transact with one another off-chain.

So, why is the Lightning Network so much cheaper than traditional payment networks? Here are a few reasons:

  • No middlemen: With traditional payment networks, there are often several intermediaries involved in the process, such as banks and payment processors. Each of these intermediaries takes a cut of the transaction fees, which can add up quickly. With the Lightning Network, there are no middlemen involved, which means there are no additional fees to pay.
  • Lower fees: Even when there are no intermediaries involved, traditional payment networks still charge hefty transaction fees. This is because they have to process a large volume of transactions and maintain a complex infrastructure to do so. The Lightning Network, on the other hand, is designed to be lightweight and efficient, which means it can process transactions at a much lower cost.
  • Scalability: One of the biggest advantages of the Lightning Network is its scalability. Traditional payment networks often struggle to handle high volumes of transactions, which can lead to slow processing times and higher fees. The Lightning Network, however, is designed to be highly scalable, which means it can handle a much larger volume of transactions without sacrificing speed or efficiency.

While the Lightning Network is currently only available for Bitcoin transactions, it's important to note that similar technologies are being developed for other blockchain platforms, including Ethereum. As the blockchain industry continues to evolve, I believe we'll see more and more innovation in the payments space, with lightning-fast and low-cost transactions becoming the norm.

Email Post

Comments

Post a Comment

Trending Stories