For miners, the price of each Bitcoin (BTC) is $96,100: What happened? CoinShares analyst James Butterfill noted in a recent report that the average cost of producing BTC for listed miners has climbed to $96,100; this figure includes non-cash expenses such as depreciation and stock-based compensation. Cash costs have also increased, rising from $47,200 in Q1 2024 to $49,500/BTC in Q2 2024, as mining conditions become increasingly complex and require more capital investment.
Despite these complex factors, miners continue to expand their infrastructure as they hope for a rise in Bitcoin prices. However, operational difficulties persist, particularly in obtaining affordable credit and dealing with high interest rates following events like the FTX collapse. To navigate this challenging period, leading mining companies are seeking innovative solutions, including fixed-rate power contracts and the use of artificial intelligence. They are also under pressure to improve cost efficiency and diversify revenue sources before the next halving.
Shiba Inu's weekly burn rate skyrocketed by 6,153%. How much SHIB was burned? According to data from Shibburn, the burn rate of Shiba Inu grew an astonishing 6,153% 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. An important factor in this surge was a significant burn event on November 1, where 5,612,878,479 SHIB tokens were burned across six transactions. Despite these large-scale burns, no SHIB tokens were burned in the past 24 hours, and the token has been declining since reaching $0.00001982 on October 29. Currently, Shiba Inu is struggling to maintain the critical support level of $0.000017, with a trading price of $0.00001711 according to CoinMarketCap.
(Rich Dad Poor Dad) author Kiyosaki warns: "The banking crisis has begun". World-renowned financial educator and author of (Rich Dad Poor Dad) Robert Kiyosaki recently issued a stern warning about the U.S. banking sector on the X platform. Kiyosaki wrote in his X post that the “banking collapse” has already begun, with the recent closure of a bank in Oklahoma serving as clear evidence. He is concerned that both the bond market and commercial real estate are facing high risks of entering a downturn following the banking sector, further confirming his long-held skepticism about the stability of the financial system. Kiyosaki believes that in order to preserve wealth amid the current turbulence in the financial markets, people should turn to investing in assets with limited supply, such as gold, silver, and Bitcoin, which he refers to as “the people's money” due to its decentralized nature.
