CCM Blockchain Newsletter (May 10, 2024)
Bitcoin's difficulty dropped 6% this week, the largest adjustment in months.
Please see this week’s market update. The beauty of the bitcoin network’s design played out this week with mining difficulty dropping ~6%, the largest drop since bear market lows and woes.
Overall, it was a quiet week in the market with the exception of CleanSpark’s 75 MW site acquisition in Wyoming, diversifying their infrastructure portfolio.
We’ll be watching next week’s core PPI and CPI announcements on Tuesday and Wednesday, respectively, an event that will be the Fed’s last look at inflation data before making a rate decision.
Enjoy the weekend!
-Christian Lopez
