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  The development’s initial phase will see the facility with 400 MW of capacity and is expected to create 270 jobs in the local economy. The facility will be immersion-cooled and is expected to be operational by July 2023. Riot Blockchain (Nasdaq: RIOT) is one of the largest North American bitcoin miners and looks to extend their footprint with a large-scale, 1 gigawatt (GW) development in Navarro County, Texas, per a press release sent to Bitcoin Magazine. The expansion will strengthen Riot’s bitcoin mining and hosting capacity beginning with an additional 400 megawatts (MW) of capacity on a 265-acre site that will be immersion cooled. Mining and hosting services are expected to be operational come July 2023. “Upon completion of the expansion, Riot’s developed capacity will total 1.7 GW, establishing the Company among the largest Bitcoin mining operations globally,” said Jason Les, CEO of Riot. “This Expansion is a testament to the Company’s demonstrated ability to build and deliver h

  Governments control businesses and their customers, and their weapon of choice is legislation. The resulting regulations are so broad and arbitrary that the government can harass businesses until they comply like a mafia protection racket. And given the abundant pettiness of bureaucrats, the rules can be as pointless as a reality TV show. Rather than deal with the harassment, most companies have entire departments that focus on regulatory compliance. The compliance costs are not trivial, but it’s a lot better than not having a business at all, so businesses pay them. These are essentially departments to keep bureaucrats happy. The mob at least has the courtesy to be straightforward about what it wants, regulators are often self-contradictory and compliance is more art than science. And make no mistake, you do not want to piss off bureaucrats, because they can make life hell. For example, the Equal Employment Opportunity Commission (EEOC) has enormous regulatory power over every busin

  Mohammed El-Erian, chief economic adviser at Allianz, the corporate parent company of PIMCO where he previously served as CEO, recently appeared for an interview on CNBC to discuss inflation, the federal reserve, and the price of bitcoin rising as a result of monetary policy. In the interview, El-Erian was asked what would happen to gold, bitcoin and other cryptocurrencies if his predictions of the Federal Reserve (Fed) changing their targets for inflation came true. “They both go higher,” El-Erian answered, but understanding his prediction makes it much more meaningful. The interview began with El-Erian being asked to explain the state of inflation in the economy. “Basically, I think the markets have understood that we have three issues: One is high and persistent inflation is with us, two is the Fed is way behind, and three, the pathway for orderly disinflation is pretty narrow,” El-Erian told the reporter. “Because of that, you’re starting now to have questions about growth.” El-E

  Have you thought about what will happen to your bitcoin when you die? For many of us, the thought has at least crossed our mind. But the number of HODLers we know that have actually put in place a legally sound plan of action ensuring both the sovereignty and privacy of their holdings is very few. This is understandable. For starters, most of us don’t expect to die anytime soon. Even those of us who have planned ahead with a well-crafted testamentary device still likely haven’t considered the nuance of proper estate planning for digital assets. And there is no digital asset we know of whose custody and conveyance requires more nuance than bitcoin. Most people think about trusts in terms of an irrevocable trust. These trusts can be an excellent tool to confer tax advantages to both your estate and beneficiaries if crafted properly. Under such circumstances, legal and equitable title must be split between trustee and beneficiary, meaning the grantor necessarily cedes either legal contr

  Bitcoin Magazine is partnering with two Ukrainian NBA stars to raise funds for humanitarian efforts as a result of the war in Ukraine. Svi Mykhailiuk of the Toronto Raptors and Alex Len from the Sacramento Kings are passionate about Bitcoin’s ability to be uncensorable “freedom money,” enabling anyone to fund humanitarian and human rights causes. Svi Mykhailiuk will wear sneakers displaying a “Shoe-R”, which is a scannable QR code that takes users to a bitcoin wallet address where bitcoin or other currencies can be donated. Two Ukrainian NBA stars have partnered with Bitcoin Magazine to help support Ukraine humanitarian relief efforts by enabling anyone to donate bitcoin via simply scanning a QR code on the front of the player's shoe. Svi Mykhailiuk of the Toronto Raptors and Alex Len from the Sacramento Kings collaborated with the Ukrainian branch of Bitcoin Magazine to support this bitcoin-based fundraising campaign. Mykhailiuk will debut a customized pair of sneakers from Nike

  REALIZED MARKET CAPITALIZATION TRENDS Today, we’re providing an in-depth breakdown of realized market capitalization. Traditional asset classes along with bitcoin itself are often quoted in terms of their market capitalization, which is calculated by finding the product of price and circulating supply. With bitcoin, and the introduction of a completely transparent set of property rights, you can calculate the realized market capitalization, which values each unit of supply at the price it was last moved across the network. The realized market capitalization of bitcoin is one of the best ways to quantify the monetization process of the asset, as the infamous volatility of the asset is seemingly only occurring to the upside. The fluctuations in the exchange rate are not nearly as volatile as the gradual-then-sudden appreciation of the realized market value of the asset. Realized market capitalization of bitcoin is one of the best ways to quantify the monetization process and the metric

  U.S. inflation hits new 40-year record at 8.5%. Bitcoin traded green above $40,500 as the index reading came above market expectations. Gasoline prices increased by 18.3%, while energy rose 32% over the last year. Bitcoin has been holding on above the $40,000 mark as U.S. inflation rose to yet another 40-year high of 8.5%, according to data released by the U.S. Bureau of Labor Statistics (BLS) Tuesday morning. Inflation numbers for last month, scored by the Consumer Price Index (CPI), denoted the biggest annual jump in prices since 1981. The 8.5% inflation rate came above market expectations and surpassed the 8.4% level last seen in January 1982. The bitcoin price held its ground above $40,000 as U.S. CPI numbers were released. The peer-to-peer (P2P) digital currency trades around $40,500 at press time, denoting a 2.5% daily gain. Bitcoin saw a sharp sell-off on Monday as it dropped below the $40,000 level. The digital money dropped from $42,400 to $39,200 yesterday in a 6.19% drop,

  Much is usually talked about privacy in Bitcoin. On the one side, there are regulators and mainstream media coverages talking non-stop about how Bitcoin brings anonymous transactions to its users. On the other end of the spectrum, however, some Bitcoiners make it their life purpose bringing awareness about the matter to the broader public: Bitcoin is not private. Researcher and builder Eric Sirion joined longtime miner and developer Casey Rodarmor at the Bitcoin 2022 conference to discuss Federated Chaumian Mints, which the duo believes will supercharge Bitcoin privacy in the future. “The concept behind Chaumian e-cash is based on blind signatures invented by [Dr. David] Chaum in 1982,” Rodarmor said. Chaum pioneered the quest for a private form of digital cash, having effectively spun out the entire cypherpunk movement. With Chaumian ecash you “take a random message, take [some] bitcoin, put [them] in the envelope, give to the signer,” Sirion said. “They sign [it] and keep the money

  The Lightning Network is a second layer built on top of the Bitcoin Network that allows for transactions to happen more quickly and efficiently without the need to wait on blocks being confirmed on-chain. To circumvent the need to wait for on-chain confirmations for each transaction, node operators open payment channels to other nodes with a chosen amount of bitcoin going into the channel. This initial transaction is confirmed on chain, but once a channel is opened, payments can move seamlessly through payment channels across nodes throughout the network. But one of the challenges with Lightning Network is the issue of liquidity. Lightning payments can only travel across nodes that have sufficient funds on both the inbound and outbound side of the channel. To explore this fundamental challenge to Bitcoin’s most widely-used second layer protocol, a group of experts gathered at Bitcoin 2022 for a panel discussion titled “Lighting Service Providers And Liquidity.” The group included: Mi