New York Powerplant to Mine 5.5BTC per Day – March 6

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,129

Bitcoin price has ranged above the $9,000 over the last 24 hours, holding the reclaimed support level well.

Top-20 altcoins are mostly in the green again, with Ethereum up over 2%, XRP 1%, and Bitcoin Cash 3%. Chainlink has corrected from its pump yesterday, falling 4%.

Top Stories for March 6, 2020 🔥

👉 New York Powerplant to Mine 5.5BTC per Day

A New York natural gas powerplant has installed a Bitcoin mining farm on-site, capable of mining an average of 5.5BTC per day – equivalent to USD$50,000.

Since the plant’s energy costs are already minimal and predictable, the owners believe that the mining effort will remain profitable following the upcoming Bitcoin reward halving.

👉 Expert Witness Outlines Crypto Tax Issues to US Congress

An expert witness has testified before a US congressional panel, outlining the issues and over-complications related to cryptocurrency taxes.

A recently-proposed crypto tax bill was put forth as a solution, which would exempt purchases of under USD$200 from taxes. The council also requested greater clarity from the SEC and CTFC around the asset class.

👉 What Does the Recent Steem Debacle Mean for Proof-of-Stake Networks?

The recent hostile takeover of the Steem network by exchanges wielding the power of users’ coins has raised new concerns about the stability of proof-of-stake (PoS) protocols.

Centralized exchanges tend to hold a large proportion of PoS assets, opening the networks to vulnerability in the case that exchanges turn hostile – as seen recently with Steem.