Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U.S. miner NGDC, appears to have suddenly fled from the area, leaving $1.55 million in unpaid electricity bills in its wake.
Also Read:
US-Based NGDC Bails on $1.55M Power Bill
According to , Miami-based NGDC ceased operations in the municipality of Älvsbyn after having its power cut by Swedish electricity supplier Vattenfall. NGDC owes 14 million Swedish kronor ($1.55 million) to Vattenfall, with the company’s lawyer, Fredrik Sundin, stating that the utility is actively pursuing the matter. “In all judgments, the prospect does not seem so brilliant, but we will do what we can of course,” Sundin said.
Helena Ohlund of the Älvsbyn municipal council stated that the local authorities have been unsuccessful in their attempts to contact NGDC.
Increasing Power Costs Drive Mining Exodus
Another mining company, Chasqui Tech, has reportedly abandoned its plans to establish a bitcoin mining farm in Kalix, Norrbotten county. The municipality is now seeking half a million Swedish kronor ($55,000) in unpaid rental fees from the company.
Patrik Ohlund, the chief executive officer of , a data center development hub in Sweden, said that he believes several factors could be driving these sudden departures. He has speculated that the cryptocurrency bear market and a jump in Swedish electricity prices — partly caused by the past summer’s drought — have created “problems” for a number of mining companies with operations in the country.
However, Ohlund remains upbeat about the future prospects of Sweden’s cryptocurrency mining industry. He said that he “would not be surprised to see a doubling” in the number of data centers operating in Sweden. He estimated that there are already roughly 50 such facilities in the country at present.
Last month, London-based MGT Capital Investments also that it had entered into a hosting agreement that would see the company relocate approximately 6,300 S9 Antminers that are currently housed in Sweden to a facility in Colorado Springs. Stephen Schaeffer, the chief operating officer of MGT Capital Investments, stated that the company hopes to complete the move and recommence mining at full capacity “before the end of December.”
Do you think that mining companies will continue to leave Sweden? Share your thoughts in the comments section below!
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Ether drops to third in market capitalization as Ripple $XRP picks up the slack. This comes after yesterday’s in $BTC and altcoins. Ethereum is down -1.01% in 24 hours, down -13.69% on the week and down -14.33% on the month on a last price of 183.66. The Ethereum marketcap is $18,957,651,874 with a circulating supply of 103,221,452 $ETH. $ETH/USDT is trading between a 24hr high of 190.00 and a 24hr low of 170.99 on a 24hr Binance volume of $90,585,244. This trading volume is heavy. The weekly price trend is down.
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Brief
Promoted
Rank
Last price
$USD
Price change
Volume
Market Share
Remarks
Bitcoin Background
Highlight Chart
Data sources
Market capitalization
Daily high low
Trend
Resistance
Support
Market sentiment
Summary
Cryptocurrency Storage Safety
Bitcoin & Ethereum Market Reports
Disclaimer
Printed
Ethereum is ranked #3 today by cryptocurrency market capitalization.
183.66 $ETH/USDT
| last price | $ 183.66 |
| one week ago | $ 212.79 |
Price change is the $ETH percentage change within the period:
| period | change |
| day | -1.01% |
| week | -13.69% |
| month | -14.33% |
| USDT | $90,585,244 |
| all $ETH currencies | $2,731,180,141 |
The 24 hour volume for $ETH/USDT on Binance is $90,585,244. This volume weight is heavy when compared with Binance daily trading levels for $ETH over the last month.
The total 24 hour volume for all reporting $ETH markets is $2,731,180,141.
Ether drops to third in market capitalization as Ripple $XRP picks up the slack. This comes after yesterday’s in $BTC and altcoins. Ethereum is down -1.01% in 24 hours, down -13.69% on the week and down -14.33% on the month on a last price of 183.66. The Ethereum marketcap is $18,957,651,874 with a circulating supply of 103,221,452 $ETH. $ETH/USDT is trading between a 24hr high of 190.00 and a 24hr low of 170.99 on a 24hr Binance volume of $90,585,244. This trading volume is heavy. The weekly price trend is down.
The bitcoin technical trading ‘death cross’ scenario catapulted prices into a deep dive beginning at 22:00 hours on November 13 two days ago. Arising out of this selloff was the re-emergence of Ripple $XRP as second ranked coin in market capitalization. $ETH fell to third rank overall.
$XRP Overtakes $ETH Again
The market has seen this flip several times. Each time the ascendancy of $XRP has been shortlived, with $ETH recovering and regaining its number two spot. However it appears that Ripple is doing a better job of marketing and utilizing its coin, and it may only be a matter of time before the development team of ether permanently lose out to the commercial banking focus of $XRP and its rising prominence and big corporate money appeal.
Difficulty bomb getting pushed back, PoS pushed back and now focus on hybrid first, sharding delayed, Plasma delayed… now their hopes are on Snarks.
Ethereum: Over promise and under deliver.
This is not just an problem though.
— WhalePanda (@WhalePanda)
One Year $ETH Chart
2018 was mostly bearish for ether:
$ETH One Day Candles
Browse Ethereum Collection
Learn about the unique characteristics of $ETH. Browse our collection of
Thursday November 15 2018 bitcoin Background
Altcoins such as Ethereum ($ETH) may show a relationship with bitcoin ($BTC) which changes with the alt, bitcoin and market conditions:
24 Hours of bitcoin
24 Hours of #bitcoin
-1.25% price $5,574.02
vol $7,101,784,753
mktcap $96,864,149,607
17.38M #XBT 20:47
XBTLivePriceTM
Yesterday
Tap / click to enlarge:
Main Data Source
Binance is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Binance.
Secondary
CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from
Tertiary
XBTLivePriceTM and 24 Hours of bitcoin are fine data products from
Other sources are credited where used.
Market capitalization is the total $US dollar value of the Ethereum market calculated using the formula:
| Market cap | $ 18,957,651,874 |
| Circulating supply | 103,221,452 |
| Last price | $ 183.66 |
| 190.00 USDT |
| 170.99 USDT |
The weekly trend is down.
Trend is "down" when the weekly price movement is predominantly downwards.
Resistance is the highest price within the period:
| day | 190.00 USDT |
| week | 215.55 USDT |
Support is the lowest price within the period:
| day | 170.99 USDT |
| week | 170.99 USDT |
$ETH market sentiment is bearish.
Ether drops to third in market capitalization as Ripple $XRP picks up the slack. This comes after yesterday’s ‘Death Cross’ crash in $BTC and altcoins. Ethereum is down -1.01% in 24 hours, down -13.69% on the week and down -14.33% on the month on a last price of $183.66. The Ethereum marketcap is $18,957,651,874 with a circulating supply of 103,221,452 $ETH. $ETH/USDT saw weekly resistance at $215.55 USDT and weekly support at today’s low of $170.99 USDT. Market sentiment is bearish. The weekly price trend is down in daily heavy volume trading.
Past history is NOT an indicator of future results. Read the legal disclaimer:
KittyBitcoin’s Market Reports bring you timely and detailed cryptocurrency market information. Covering many of the top 100 coins, the impartial and hyperlinked format enables you to quickly synthesize accurate trading data gleaned from top cryptocurrency exchanges. Over time the market reports also comprise an invaluable archival collection.
This report was generated on Thursday November 15 2018 20:37 hours UTC.
This report was authored by KittyBitcoin and originally published on BlockDesk: . Contact to license or request reports. Share your thoughts with
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