Shares of Australian Bitcoin miner Iris Energy dropped 14% on Friday after Culper Research questioned the firm’s ability to serve the high-performance computers for AI. Iris Energy (IREN), the Australian Bitcoin mining company, saw its shares plunge 14% on Jul. 12 after short seller Culper Research issued a report, raising concerns over Iris’ capabilities to provide high-performance computing (HPC)...
Spot Bitcoin (BTC) ETFs in the U.S. recorded their fifth consecutive day of inflows on July 11, with $72.1 million in net inflows as Bitcoin surpassed the $59,000 mark. According to data provided by Farside Investors, these investment products recorded $72.1 million in positive net flows on July 11. This follows a positive week that began with $143.1...
Bitcoin price is outperforming popular leveraged ETFs, which have become increasingly popular among investors. Leveraged Bitcoin ETFs inflow is rising Leveraged Bitcoin ETFs like the 2x Bitcoin Strategy ETF (BITX) and the ProShares Ultra Bitcoin ETF (BITU) are seeing inflows this year. Data by ETF.com shows that the BITX ETF has added assets in all months this year. As a...
A wallet linked to crypto lender Genesis has transferred 12,600 Bitcoin (BTC) worth approximately $760 million to crypto exchange Coinbase. On-chain data tracked by Arkham shows the addressed labeled “Genesis Trading” moved the funds to the exchange amid the broader market sell-off witnessed over the past month. The wallet’s holdings have shrunk from 46,000 BTC in mid-June,...
Crypto mining giant Northern Data is forecasting its revenue to triple in 2024 as the company doubles down on high-performance computing (HPC) solutions. Northern Data Group, a German-listed Bitcoin mining company, estimates its sales to soar this year up to €240 million, tripling its 2023’s results as the company is betting big on high-performance computing (HPC) solutions for...
Texas is rapidly becoming a Bitcoin mining hub, butresidents of local towns are experiencing hearing issues, headaches, dizziness, and sleep disturbance. The conflict between the economic interests of Bitcoin (BTC) mining in Texas and the quality of life of its residents is escalating, underscoring the need for comprehensive policy solutions. Texas is home to 10 out of the 34 major Bitcoin...
Sen. Cynthia Lummis reiterated her Bitcoin agenda on Friday and derided the merits of Central Bank Digital Currencies (CBDCs) in an interview with Fox Business host Larry Kudlow. In a recent interview with Fox Business on Friday, July 13, Lummis emphasized the potential benefits of Bitcoin reserves in bolstering the US dollar’s global strength. The Wyoming...
Spot Bitcoin (BTC) exchange-traded funds (ETFs) witnessed a significant surge on July 12, with inflows surpassing $310 million—the highest since June 5. BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflows, bringing in $120.03 million and $115.14 million respectively, as per information from SoSoValue. The Bitwise Bitcoin ETF (BITB) followed with $28.42 million,...
The non-fungible token, or NFT, market saw a 7.68% boost in sales volume this week, hitting $109 million, with notable activity on Ethereum (ETH) and Polygon (MATIC) blockchains. However, this uptick came against a backdrop of massively declining numbers of NFT buyers and sellers, which plunged by 68.00% and 67.78%, respectively. Interestingly, even as the number of...
The cryptocurrency market staged a mild recovery last week. Despite Bitcoin (BTC) facing initial setbacks at the start of the week, it eventually recovered some lost ground, granting strength to the rest of the market. Some altcoins recorded impressive and more robust recoveries. This resulted in the global cryptocurrency market recouping $70 billion, eventually ending the...
