📈 New Bitcoiners are skyrocketing

Good morning, here is your weekly In A Nutshell from the Bitcoin Collective⚡️

This Week’s Big Stories
  • Jack Dorsey is laughing all the way to the… bank?

  • Mining ain’t so bad according to a new academic paper

  • New Bitcoiners are skyrocketing

Block are soaring… thanks to Bitcoin 📈

Block, the brainchild of Jack Dorsey and Jim McKelvey, just reported a jaw-dropping profit of $1.87 billion. That's a whopping 27% increase from last year! And what's driving this success? None other than the soaring sales of Bitcoin. A letter to shareholders stated: "The year-over-year increase in Bitcoin revenue and gross profit was driven by an increase in the quantity of Bitcoin sold to customers".

Bitcoin academia is catching up 📚

Bitcoin is making moves in the academic world. A paper has just been published, highlighting the potential for a carbon-negative Bitcoin grid powered by renewable energy. Imagine a future where Bitcoin not only makes for a fairer monetary system but also saves the planet!

Image: Look into Bitcoin

The Shrimp are rising! 🦐

The number of people holding over 0.01 Bitcoin (today's value: $294.52/ £230.82) is skyrocketing, with over 12 million addresses and counting. The shrimp are boarding the ark before the institutions get the chance.

What else have you missed?

1. Paypal release their new stablecoin becoming the first major financial institution to push deep into crypto payments even as US regulators heighten their scrutiny.

2. But it’s maybe not all that it seems with people looking into the centralisation and mechanisms put in place by Paypal.

3. Bitcoin Mining Council did a survey and it came back rather positive with YoY Bitcoin hash rate increased +70%, efficiency +24%, and sustainable energy mix improved to 59.9%.