CRYPTO MINING
Why is Bitcoin price crashing today? BTC USD falls toward $76,000 amid stock market sell-off and $370 million in crypto liquidations
Bitcoin (BTC USD) price crash today: Bitcoin has fallen back toward $76,000 after failing to hold its recovery above $80,000. A sell-off in technology stocks added to the pressure, while nearly $370 million in leveraged crypto positions were liquidated in about an hour. Traders are now watching the $75,000 level.
Trump Media's investors lost $2.2 billion while Trump holds $460 million stake
Ske Jarzenske and other Trump Media investors are facing severe losses as the company's stock value has plummeted. Many investors had high hopes for the social media platform, believing in its potential profitability under Trump's leadership. Instead, Trump Media's shares have lost significant value, and discontent among shareholders has grown. The company's revenue remains stagnant, leading investors to question management practices and investor trust.
Trump-linked crypto assets slip up to 16%, AI data centre stocks slide after Democrats' US midterm win
Trump-linked cryptocurrencies tumbled up to 16%, while shares of Bitcoin miners transitioning into AI data centre businesses slumped as Democrats' strong midterm performance rattled investor sentiment. Concerns over tighter regulations, potential construction delays in Texas and rising financing costs weighed on companies betting on the AI infrastructure boom.
Silver prices jump over 4% to reclaim $51/oz as Democrats secure US midterm victory. What’s happening?
Silver prices surged over 4% to reclaim the $51/oz mark after Democrats secured a victory in the US midterm elections, weakening the dollar and Treasury yields. However, HSBC expects further gains to be limited as silver trades close to levels justified by fundamentals. Industrial and jewellery demand may weaken, while institutional buying and supply constraints could offer support.
In the 1890s, Montana’s Marysville gold camp grew to about 4,000 people; today, its population is officially 82, with local estimates closer to 90–100
Marysville, Montana, once stood as a vibrant mining hub in the late 1800s, largely thanks to the rich yields from the Drumlummon Mine. At its zenith, this gold-producing site attracted a thriving community. However, as mining operations floundered, the population sharply declined, resulting in a mere handful of residents. The town's experience highlights the challenges faced by economies overly reliant on singular resources, underscoring the lessons on sustainability.
Zcash soars 3,000%: Why Bitcoin billionaires are betting on the privacy coin
Zcash has surged about 3,000% over the past year, attracting investment from the Winklevoss twins and Barry Silbert. Their mining operations and ETF plans are expanding as renewed interest in crypto privacy brings fresh attention to the token, alongside security and regulatory concerns.
Bitcoin worth $29 in 2010 suddenly moves after 16 years. Now this Satoshi-era BTC USD is valued at $8.3 million
A Bitcoin stash worth about $29 when mined in 2010 has moved for the first time in roughly 16 years. The 100.02 BTC was transferred on October 7 and was worth around $8.3 million at the time, with the coins sent to two new addresses.
Astana International Financial Centre explores to partner with India's GIFT City
Astana International Financial Centre is exploring potential collaboration with India's GIFT city due to regional proximity. This partnership aims to enhance financial services and investment opportunities between Kazakhstan and India. AIFC has established itself as a leading financial hub in Central Asia since its launch in 2018. Initiatives from AIFC include developments in sustainable finance and digital assets.
Bitcoin vs Ethereum: Which crypto asset could deliver better returns in the next 12 months?
AI is the clearest example. It raises the prospect of a permanent growth breakout, accelerating innovation itself and compressing decade long timelines into a few years
Anthropic signs $35 billion cloud deal with Nvidia-backed Lambda
Anthropic has signed a cloud-computing deal worth $35 billion with Lambda, a cloud provider backed by Nvidia, for a Texas data centre. The project is being developed in Nueces County by crypto-mining-turned-AI data centre company Hut 8 and covers a capacity of about 350 megawatts.
What is crypto mining?
Crypto mining or for cryptocurrency mining, particularly in Proof-of-Work systems, is energy-intensive due to the computational power required to solve complex puzzles. This has led to discussions about the environmental impact of certain cryptocurrencies and efforts to develop more energy-efficient consensus mechanisms.
Smartkarma Research: Crypto mining industry series: Time to focus on efficient crypto miners
In July, crypto assets bottomed and stabilized after heavy losses, but we think crypto winter is here to stay. Therefore, we model an average BTC price of $35K in 2022 and $25K in 2023 under the bear case scenario. At the same time, we forecast that the average BTC price will reach $45K in 2025 and $50K in 2026.
New York passes bill to halt Bitcoin mining for two years
According to Coindesk, mining companies based in New York have threatened to leave the state if the moratorium is passed.
Crypto mining cost not to be allowed as deduction under I-T Act: FinMin
The 2022-23 Budget has brought in clarity concerning the levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and surcharges, will be levied on such transactions in the same manner as it treats winnings from horse races or other speculative transactions.
Kosovo seizes hundreds of cryptocurrency mining devices
Tensions between the Serb-majority area and the ethnic Albanian majority government are running high and Kosovo's government on Tuesday brought in a temporary ban on cryptocurrency mining in an effort to bring down electricity consumption.
Hackers are using Cloud accounts for crypto mining, Google issues warning
Google reported that 50 recent hacks of its cloud service were used to practice crypto mining.
El Salvador sees greener cryptocurrency mining in its future
Energy-intensive cryptocurrency "mining" is done by computers, and has come under criticism from environmentalists as a big source of demand for mostly fossil fuel derived electricity.
China crypto mining ban triggers exodus, bitcoin rigs sell like scrap
The China crypto mining ban may see up to 90% of all mining in the country go offline, according to an estimate, paralysing an industry that accounts for half of global bitcoin production.
China's crypto crackdown speeds shift to central Asia, North America mining
China's central government vowed to clamp down on bitcoin mining and trading on Friday, causing some miners to halt all or part of their operations in a country that accounts for more than half of the world's crypto supply.
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