“The total hashrate is around 150 exahashes a second right now.
“Although the drop in hashrate was temporary, it was yet another sign of both the unreliability of non-renewable sources of energy for bitcoin mining and the centralization of mining in China.
In light of the current bull market, bitcoin’s energy footprint has yet again come under scrutiny, with some newcomers intent on buying “clean” bitcoin that only comes from renewables mining.
Electric vehicle manufacturer Tesla earned $101 million in profit from its bitcoin holdings in the first quarter of 2021, according to its Q1 2021 earnings report.
Despite the ongoing bounce, there are no clear bullish reversal signs for bitcoin.
Anatoly Crachilov, co-founder and CEO of Nickel Digital Asset Management, which manages assets worth $200 million, told the Reuters Global Markets Forum that regulatory uncertainty was a drag on the development of the crypto space.
But prices should remain above historical averages well into 2022.“If 2020 was a mic-drop event, 2021 is setting up to be an even more impressive encore performance for the forest-product industry,” RBC Capital Markets said in an April recent report.Record-high lumber prices are expected to mean “very strong free cash flow” for companies like West Fraser, Canfor Corp., and Interfor, RBC said.For Taylor, an already “atrocious” lumber shopping experience was exacerbated by scant availability of oriented strand board, known as OSB, which is widely used as a plywood stand-in to make walls and floors.
HSBC Holdings Plc said the metal could rise past $3,100 an ounce due to a widening deficit, before dropping to $2,740 by the end of the year.“High prices will likely encourage the mobilization of largely unquantifiable above ground stocks,” analyst James Steel wrote in a note, while substitution of cheaper platinum in autocatalysts should start to clip demand.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Right now the Bears have the 20th pick in Thursday night’s NFL draft, but General Manager Ryan Pace is ready to make a move up or down.
It’s hard to overstate how bizarre the past two seasons have been for farmers, who for the previous six years had repeatedly produced near-record harvests but saw little profit because commodity prices were so low.
A long-awaited wave of extra iron ore supply, especially from key shipper Brazil, hasn’t yet materialized as the bears expected.Making MoneyMeanwhile, higher steel prices and China’s effort to clean up its mammoth and heavy-polluting industry with targeted production curbs has pushed profitability at mills to the highest in more than a decade, according to a Bloomberg Intelligence gauge.Steel margins in China “continue to suggest that current iron ore prices are sustainable in the near‑term” and would need to go negative for iron ore prices to correct lower, Commonwealth Bank of Australia analyst Vivek Dhar wrote in a note.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.