U.Today – Here are the three most critical pieces of news from last weekend, brought to you by U.Today.
$96,100 per (BTC) for miners: what’s happening?
As stated in a recent report by CoinShares analyst James Butterfill, the average BTC production cost has increased to $96,100 for listed miners; this figure includes non-cash expenses such as depreciation and stock-based compensation. Cash costs have also increased, reaching $49,500 per BTC in the second quarter of 2024, up from $47,200 in the first quarter, as mining conditions become more complicated and require greater capital investment. Despite these setbacks, miners continue to expand their infrastructure in hopes of a potential augment in Bitcoin prices. However, operational difficulties remain, particularly in obtaining affordable credit and dealing with high interest rates following events such as the collapse of FTX. To survive these tough times, leading mining companies are looking for groundbreaking solutions, including fixed-rate energy contracts and the employ of artificial intelligence. They are also under pressure to augment cost efficiency and diversify revenue sources before the next halving.
increases by 6.153% in weekly burns, how much SHIB was burned?
According to data provided by Shibburn, the Shiba Inu has seen an astonishing 6,153% augment in burn rate over the past week. Thanks to the coordinated efforts of the Shiba Inu community and various ecosystem projects, a total of 5,761,510,009 SHIB tokens were burned during this period. A significant contributing factor to this augment was a major event that occurred on November 1, during which 5,612,878,479 SHIB tokens were burned across six transactions. Despite these large-scale burns, no SHIB tokens have been burned in the last 24 hours, and their value has been sinking since reaching $0.00001982 on October 29. Currently, Shiba Inu is struggling to hold the critical support at $0.000017, trading at $0.00001711 per CoinMarketCap.
‘Rich Dad Poor Dad’ Author Kiyosaki Warns: ‘The Bank Crash Has Begun’
Robert Kiyosaki, world-renowned financial educator and author of “Rich Dad Poor Dad,” recently turned to Platform X to issue a stark warning about the US banking industry. In his post, X Kiyosaki wrote that a “bank meltdown” had already begun, marked by the recent closure of a bank in Oklahoma. He expressed concerns that both the bond market and commercial real estate are at high risk of a downturn in the banking industry, deepening his long-standing skepticism about the stability of the financial system. Kiyosaki believes that to preserve wealth amid the current financial market turmoil, people should start investing in limited-supply assets such as gold, silver and Bitcoin, which he calls “the people’s money” due to their decentralized nature.
