Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI). Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…
The third-largest Bitcoin address has long been a topic of intrigue, given that nobody knows the owner of its vast coin pot.
Over the last week, the mystery whale added another $28 million in Bitcoin to his holdings, bringing his total Bitcoin stack to over 126,000 coins.
- The notorious 1P5ZED address accumulated 318 Bitcoin on Monday, followed by another 412 on Tuesday.
- The 730 coins were bought at an average price of $38,400. As Bitcoin’s price has risen since then, the value of his purchase is now over $30 million.
- This comes after the address sold 1500 coins at the start of the month for an average of $43,985. It held over 127,000 coins before that sale.
- At 126,341 coins, the address’s balance surpasses MicroStrategy’s reported holdings of 125,051 BTC as of February 1st. That said, CEO Michael Saylor purports to personally own at least another 17,000 coins for himself. His company, which plans to never sell its Bitcoin, may plan to accumulate more soon.
- The first and second-largest Bitcoin addresses hold 252,597 and 168,010 BTC respectively. However, these wallets belong to Binance and Bitfinex – two of the largest crypto exchanges storing the cumulative funds of thousands of customers.
- The address’s holdings amount to 0.6% of the total Bitcoin supply that will ever exist.