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Bitcoin Mining Difficulty Breaks the Longest Gain Streak Since 2018 – Cryptonews

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A quick 3min read about today's crypto news!
Bitcoin (BTC) mining difficultly dropped this past Sunday for the first time in four months.
Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, went down by 1.49%. This relatively small drop is significant nonetheless as it’s the first one since the end of July this year.
The difficulty had seen a long streak of nine consecutive increases, starting July 31 – the longest such streak since 2018.
The highest increase in this latest run was 13.24% and the lowest 0.95%, but it still failed to reach and subsequently surpass the all-time high of 25.05 T recorded in mid-May. Instead, it fell from 22.67 T to 22.34 T yesterday, as hashrate, or the computational power of the network, has been dropping over the past week. The 7-day moving average went down from 167.9 E on November 20 to 156 E on November 28, per BitInfoCharts.com data.
Bitcoin mining profitability has also seen been dropping in the two weeks since the previous difficulty adjustment, going down 17.36%.
The mining difficulty of Bitcoin is adjusted around every two weeks (or more precisely, every 2016 blocks) to maintain the normal 10-minute block time. The 7-day moving average block time on November 28 was 10.39 minutes.
According to ByteTree, in the past week, miners have held more of their newly generated BTC, compared to what they’ve spent.
At 10:45 UTC on Monday morning, BTC was trading at USD 57,248. It was up 5% in a day and down 3% in a week.
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Russian Central Bank Says No As Ministries Hope to Legalize Bitcoin Mining

Major Swedish Power Company Defends Bitcoin Mining as Regulators Propose Ban
Kazakhstan Could Earn USD 1.5B from Crypto Mining in 5 Years – Association

Here’s Why Bitcoin Miners Should Pay Attention to COP26
Bitcoin Miners See High Prices as ‘Opportunity,’ Become Sellers

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Crypto Payments Service Provider BCB Group Raises $60M Series A – CoinDesk

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BCB Group CEO Oliver von Landsberg-Sadie (BCB Group)
BCB Group, a crypto-dedicated payments services provider, has closed a $60 million Series A funding round.
Read more: BCB Group Expands in Europe With Acquisition of 100-Year-Old German Bank
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
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EU should ban energy-intensive mode of crypto mining, regulator says – Financial Times

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Global stocks, crypto rebound ahead of today’s momentous Fed decision – Fortune

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