Fundamental Development:-
Marathon inks new arrangements to achieve 2023 hash rate target
Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough power to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.Marathon revealed in a July 18 announcement that data center operator Applied Blockchain would host 254 megawatts of power, with an option to add 70 megawatts from various other providers, including Compute North. Marathon expects this hosting deal will help it achieve its goal of 23.3 EH/s in computer power by 2023. Exahashes per second (EH/s) refers to the amount of hash power a miner contributes to secure the Bitcoin network.
Short Term Technical View: -On daily period, BTC is trading below 200&50 simple moving averages and trading near $21780 -$21,790 ranges. BTC made low 201,430 and now consolidating within a range. Yesterday it made high near $22,750 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,900.
Alternative Scenario:- If Bitcoin fails to clear the $22,900 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level.
Marathon inks new arrangements to achieve 2023 hash rate target
Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough power to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.Marathon revealed in a July 18 announcement that data center operator Applied Blockchain would host 254 megawatts of power, with an option to add 70 megawatts from various other providers, including Compute North. Marathon expects this hosting deal will help it achieve its goal of 23.3 EH/s in computer power by 2023. Exahashes per second (EH/s) refers to the amount of hash power a miner contributes to secure the Bitcoin network.
Short Term Technical View: -On daily period, BTC is trading below 200&50 simple moving averages and trading near $21780 -$21,790 ranges. BTC made low 201,430 and now consolidating within a range. Yesterday it made high near $22,750 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,900.
Alternative Scenario:- If Bitcoin fails to clear the $22,900 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level.