These North American Bitcoin Firms Mined 59% More Bitcoin in July

<p><span style="font-weight: 400;">On this episode of “The Breakdown:”</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Bitcoin mining bump</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Coinbase’s massive Q2 earnings and more institutional news</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Crypto tax companies popping up</span></li> </ul> <p><span style="font-weight: 400;">North American bitcoin mining companies saw a significant increase from the previous month. Contributing to this increase is the downward difficulty adjustment, a built-in and automatic Bitcoin feature that incentivizes more miners to join the network. The adjustment came after China’s crackdown on their miners and a subsequent drop in hashrate. Is this mining success bullish for bitcoin?</span></p> <p><span style="font-weight: 400;">Coinbase’s Q2 earnings report revealed a successful quarter with a bigger portion of trading volume attributed to institutional over retail. Additionally, ethereum surpassed bitcoin in trading volume for the first time. Will these trends continue?</span></p> <p><span style="font-weight: 400;">With regulatory pressure on the horizon, several new crypto tax companies are being formed (and venture capital-backed) to fill the gap. Crypto presents new complexities for reporting and the tax implications of the U.S. infrastructure bill are imminent. Will these companies be able to find a solution when it’s tax time?</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  <a href= "https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb" rev= "en_rl_none">https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb</a></div> <div>Spotify: <a href= "https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ" rev= "en_rl_none">https://open.spotify.com/show/538vuul1PuorUDwgkC