Hello Humble Bitcoiners!

Finally Friday. The week may come to an end, but Bitcoin never stops. Let's dive in.
📝 Today's Rundown
  • Largest Miner HODLs: Marathon Digital is among the few miners to not have sold any of its bitcoin treasury during the latest market crash — but how long will that last?
  • Bitcoin For Africa:  A recent event hosted by Qala in Nigeria underscored the opportunity in Africa to leverage Bitcoin development for a brighter future.
  • Mining Through Bear Market: The bear market cycle is in full effect, and these bits of data from the mining sector illustrate the effects of a depressed bitcoin market.
Learn More

💻 LARGEST MINER HODLs

Will Marathon Digital Join Other Miners In Selling Bitcoin? CEO Weighs In
By Namcios

Bitcoin’s price action has been ruthless for most investors and Bitcoin related companies for more than a year now. Furthermore, it is very likely that those struggling the most in this market conditions are those involved in the Bitcoin mining industry.

 Bitcoin miners have historically sold BTC as they produced it to cover operating costs. However, due to the current BTC price and an over-leveraged bitcoin mining industry, some mining companies have been forced to sell large amounts of their BTC savings to cover expenses and debt. 

However, Marathon Digital Holdings (MDH), the largest bitcoin holder among public bitcoin miners, has managed not only to keep their BTC holdings intact but also to continue adding to their bitcoin holdings. The author of this article explains how MDH has managed to achieve that and describes the strategies that MDH is planning to utilize for different market conditions.
Read Full Article

🌍 BITCOIN FOR AFRICA

For Africa, By Africans: How Qala Is Building Bitcoin Developers
By Heritage Falodun

Earlier this month in Lagos, Nigeria, the Qala Bitcoin developer offsite event took place. Qala is an intensive Bitcoin education program organized by Bitcoin-focused firms and stakeholders designed to train the next generation of African Bitcoin and Lightning developers. 

Being a continent that has historically been financially oppressed and forced to depend on foreign economic intervention, Africa has the potential to show the world all the benefits, liberties and independence that a decentralized and trustworthy monetary policy enables.

This article explores the importance of the growing African Bitcoin developers community since:

“Traditionally, African countries are consumers of products built outside of the continent. In this room [Qala], we are no longer consumers, we are producers. Bitcoin is the tool that we build with.” — Nigerian entrepreneur Femi Lounge.
 
Read Full Article

📰 THE DAILY BITS
1. The work of Rene Pickhardt shows that despite being mainly used for small, fast Bitcoin transactions, Lightning can also deliver large payments.

2. Perth Heat to enhance fan experience with Lightning. The move marks a new fan-tailored approach by the club under a Bitcoin Standard as it seeks to capitalize on BTC and Lightning.

3. Robinhood, the retail trading firm, announced on Twitter it now lets all users transfer bitcoin and cryptocurrencies in and out of its platform.

4. Bloomberg senior analyst: Bitcoin could soon kickstart the greatest bull market in history.

5. Hardware wallet demand is up 700% in Russia.

6. The largest amount of Bitcoin ever was taken off exchanges in June.
⛏️ MINING THROUGH BEAR MARKET

These Six Mining Charts Illustrate The Bitcoin Bear Market
By Zack Voell

From its all-time-high, Bitcoin is now trading down roughly 70% against the U.S. dollar, and there are many indications and metrics that indicate continued bear market conditions.

The mining industry is one of the most affected during this period. Miners selling coins, unplugging machines or liquidating hardware are all signs of the severity of a bitcoin bear market. The author of this article shares his findings while analyzing on-chain metrics and mining data to illustrate the seriousness of the current market condition. The six charts he analyzes are:

  • Bitcoin mining monthly revenue.
  • Network fees as a percentage of monthly Bitcoin mining revenue.
  • Normalized prices for Bitcoin and mining machines.
  • Percentage of Bitcoin hash rate contributed by Antminer S9 machines.
  • Normalized Bitcoin difficulty and hash rate.
  • Normalized Bitcoin mining stock performance.
Read Full Article

MEME OF THE DAY 
By bitcoin and memes

The price seems to have spiked up a little — a display of a relief for many. Perhaps, there are chances that the episode of cryptocurrency contagion is over.

Of course, hopefully people learned a lesson, are now holding their own keys and are staying humble. 

Stack sats,
Bam
Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking.
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