STACKING

Bitcoin Miner BitFarms Buys 1,000 BTC
By Namcios

Bitfarms, the Nasdaq-listed bitcoin miner has announced this Monday that it purchased 1,000 bitcoin during the first week of January. By adding this amount, the company increased its holdings by 30% and currently hold 4,300 bitcoin in its treasury.

The Canadian firm, which currently operates five farms in the area of Québec, has been expanding its facilities and recently tipped its toes into U.S. territory with an acquisition of a 24-megawatt facility in Washington state.

With a goal in mind to accumulate the most bitcoin possible, and to increase its hashrate capacity to 8 exahashes per second (EH/s) by the end of 2022, it seems it made sense for the company to take advantage of the price discount as mining hardware continues to be priced quite high.

“Our guiding company strategy at Bitfarms is to accumulate the most Bitcoin for the lowest cost and in the fastest amount of time for the benefit of our shareholders” -  Emiliano Grodzki, CEO of Bitfarms

ABC FOR SECURITY

How To Use A Bitcoin Hardware Wallet
By Arman The Parman

One of the most common pieces of advice Bitcoiners give to newcomers is getting coins off exchanges and into their own custody as soon as possible. But for some people, this might not be enough information and they could end up thinking that Bitcoin is too complicated for them — when in reality it is not. Being sure that you are the only one capable of spending your bitcoin by having full custody of your private keys is probably the most important thing to do for any bitcoin owner and hardware wallets are a very useful tool that help us achieve that.

This article will guide you on how to securely store and control your bitcoin in any hardware wallet focusing on important topics, such as:

• What are hardware wallets?
• How to buy a hardware wallet.
• How to initialise a hardware wallet. 
• Making test transactions to receive and spend.
• Testing your seed words.
• Backing up your seed words.
• Setting up an Inheritance plan.
• Transferring your funds from the exchange.

THE DAILY BITS

THE NEXT-GEN

Jack Dorsey’s Block is Hiring To Develop Next-Gen Bitcoin Mining ASIC

By Nick W.

Block is a San Francisco based company focused on creating tools to help expand access to the economy. Their services include well-known platforms such as Cash App, Square, Spiral, TIDAL and TBD54566975. They recently posted on their Linkedin page that they are looking to hire a team dedicated to develop the next generation of bitcoin mining ASIC (a custom-designed microchip). The team will have to be focused on these 5 topics of relevance for the bitcoin mining ASIC industry:

• Mining needs to be more distributed.
• Mining needs to be more efficient.
• Silicon design is too concentrated into a few companies.
• Vertical integration.
• Accessibility. Bitcoin mining should be as easy as plugging a rig into a power source.

MEME OF THE DAY

• A country made bitcoin legal tender
• More and more added bitcoin to their balance sheet.
• Athletes are getting paid in bitcoin