bitcoinlfg

Author: BTCLFGTEAM

  • Bitcoin is not headed for new lows: Scott Melker

    Bitcoin is not headed for new lows: Scott Melker

    bitcoin not headed for new lows scott melker
    • Wolf of All Street’s host Scott Melker is constructive on Bitcoin.
    • He explained why in an interview with Yahoo Finance today.
    • BTC has tumbled from $31,000 to $26,000 in about six weeks.

    Bitcoin is still a bull market despite the sharp sell-off in recent weeks, says Scott Melker – Host of “The Wolf of All Streets” podcast.

    Melker remains constructive on Bitcoin

    The world’s largest cryptocurrency has retreated from over $31,000 to the sub $26,000 level in about six weeks – fragility that Melker attributes to a “long squeeze”.

    But he remains confident that Bitcoin is not at all doomed to make a new low in the coming months. Defending his view on Yahoo Finance, the crypto trader and investor said:

    I don’t think there’s reason to suspect we’ll go to new lows like we did after the FTC collapse unless we have some other massive black swan event. I don’t see that in cards.

    Note that Jason Pizzino also recently said that BTC could soon be worth over $42,000.

    Bitcoin has strong support at $25,000 level

    Scott Melker announced $25,000 as a key level to watch in Bitcoin – as long it’s trading above that level, it’s still in a bull market, he added.

    The crypto expert sticks the probability of a Spot Bitcoin ETF being approved by the Securities & Exchange Commission this year at 65%. He’s constructive on BTC also because the big players have been loading up on it for months.

    If you look at the way Bitcoin has moved over the past four years, we’re in the midst of another four-year cycle in the exact same place that we were last time.

    The total supply of Bitcoin is slated to halve in the second quarter of 2024 – an event that’s historically delivered a boost to its price.

    Share this article
    Categories
    Tags

    Source link

  • Prediction markets tokens rise as other tokens dip: Gnosis, Augur price outlook

    Prediction markets tokens rise as other tokens dip: Gnosis, Augur price outlook

    • Bitcoin has suffered its worst weekly percentage loss since the collapse of FTX.
    • Some of the factors behind the dip include reports of SpaceX selling its BTC holdings and the Chinese property giant Evergrande bankruptcy filing.
    • Top prediction markets tokens have maintained a bullish trend amid the crypto meltdown.

    In what has caught most crypto investors by surprise, the price of Bitcoin (BTC) has decreased by 11.2% to about US$26k. Last week has been the worst week for Bitcoin (BTC) since FTX’s demise in November 2022.

    The market crash has not only affected BTC, seeing that the rest of the asset class has not fared any better. Ethereum (ETH) fell by approximately 9.5% to $1.7K and Binance-coin (BNB) dropped by about 9.8% to $217, just to mention a few of the top cryptocurrencies by market capitalization.

    While most of the top cryptocurrencies experienced a price dip, popular prediction markets tokens like Gnosis (GNO), SX Network (SX), Kleros (PNK), and Augur (REP) registered significant gains. Chancer (CHANCER), a new prediction markets token is also gaining traction as its token presale continues to gain traction.

    What caused the crypto market to drop?

    The price decrease was caused by a number of causes. They included speculation that SpaceX wrote down the value of its Bitcoin assets, the collapse of the Chinese real estate firm Evergrande, and rising yields in the US.

    SpaceX Bitcoin holdings

    The Wall Street Journal published a report late last week stating that Elon Musk’s space exploration company SpaceX marked down the value of the Bitcoin it had on its books by US$373 million for the years 2022 and 2021. The report claims that the business also sold a portion of the BTC it had at one point over the previous two years. The WSJ has identified documents that it claims offer uncommon insights into the business’s finances.

    However, the WSJ’s assertions cannot be independently verified because SpaceX is a privately held corporation. Musk acknowledged that SpaceX did acquire Bitcoin during a panel appearance in 2021, but it is unclear how much or when the commodity was purchased.

    Evergrande bankruptcy 

    In a disclosure made over the weekend, the Chinese real estate tycoon Evergrande filed for bankruptcy protection in the United States. The corporation reportedly took action to secure its assets while still trying to control its creditors.

    Before proposing a comprehensive off-shore debt restructuring program in 2021, Evergrande experienced a public meltdown and went into default on its obligations. The business currently seems to be on life support.

    Investors are worried that China’s enormous real estate market may become contagious. Country Gardens and other significant developers are not paying their debts either, and the industry—which is thought to account for up to 30% of Chinese GDP—is in serious need of government assistance.

    US Treasury yields

    US Treasury yields are skyrocketing and pushing away investors from risky markets like the crypto market and toward saving. As the US Federal Reserve gradually increased rates throughout the previous year to reach a target rate of slightly over 5%, bond yields increased.

    As strong US economic data keeps coming out, yields have increased this week in anticipation that rate rises will continue. Since 2011, the 30-year US Treasury yield has never been higher. Treasury bonds give a high, secure yield, which is detracting from the value of other asset types like shares and cryptocurrencies.

    Gnosis and Augur price prediction

    Gnosis has risen by 0.2% while Augur has registered a 1% surge after a bear week. In the past seven days, Gnosis dropped by 8.8% while Augur fell by 11.7%.

    Gnosis price daily chart

     

    Having bounced off the support at $97.60, the Gnosis (GNO) token is expected to test the resistance at $104.75. However, that depends on whether the current daily candlestick closes above the lower band line of the Bollinger Bands indicator.

    Augur price daily chart

     

    Augur, on the other hand, seems to have slid into consolidation after erasing most of the gains it made between July 19 and July 20. All eyes are on the support at $0.3246 and the resistance at $2.1844. If the REP price jumps above the upper Bollinger Bands line, it could test the $2.1844 resistance level and if it drops below the lower Bollinger Bands line, it could drop to the support at $0.3246.

    The prediction markets tokens including Chancer, are expected to experience significant price gains as popular games including the English Premier League and the American MSL gather steam.

    Share this article
    Categories
    Tags

    Source link

  • Price prediction for Kaspa, Hedera and Shiba Memu

    Price prediction for Kaspa, Hedera and Shiba Memu

    • Kaspa (KAS), Litecoin (LTC) and Tron (TRX) are among top gainers today as crypto markets eye a rebound.
    • But Hedera and Shiba Inu, one of the most popular crypto meme coins, has suffered notable declines in the past 24 hours.
    • New meme coin Shiba Memu has raised over $2.16 million in its presale as AI drives interest.

    The crypto market is still searching for a sure footing amidst a tricky terrain wrought with likely traps. Last week’s sharp sell-off that crashed Bitcoin to lows of $25k and Ethereum to under $1,600 has many token trading at or below key levels, with the likes of XRP leading a weekend bounce that has seen Kaspa, Litecoin and Tron among top gainers early Monday.

    Elsewhere, Hedera’s outperformed in recent days but it’s among top losers in the past 24 hours. Shiba Inu price has declined further as the troubled launch of Shibarium adds to the downside pressure.

    While analysts are bullish on crypto long term, here’s the short term outlook for Kaspa, Hedera as well as overview of Shiba Memu. 

    Kaspa price prediction

    Kaspa has posted a significant uptick, rising 5% in the past 24 hours to trade above $0.043. But while the GHOSTDAG proof-of-work cryptocurrency is up on the day, price remains 16% off its recently reached all-time high above $0.051.

    Zooming out, we see a recently formed cup and handle pattern. KAS has performed a breakout and retest of the support area and could embark on another upward break. The daily stochastic RSI also shows bullish divergence.

    If price breaks higher, bulls should be able to test resistance in the $0.046-$0.050 zone.

    Hedera price prediction

    The price of HBAR, the native token of the decentralised public blockchain Hedera, has declined 3% in the past 24 hours. However, despite paring gains, HBAR price is nearly 15% up in the past month.

    As highlighted here, HBAR gained some momentum after FedNow added Hedera micropayments platform Dropp Inc. The positive outlook for the token remains if bulls prevent a decline below the crucial technical level of $0.060. 

    Despite declines, HBAR remains in an ascending channel. Resistance is likely at $0.064, with immediate targets including $0.077 to $0.085. On the flipside, the area around $0.054 becomes a “must-defend” for bulls.

    What is Shiba Memu?

    Shiba Memu, a new artificial intelligence powered cryptocurrency, is nearing the final phase of its hugely successful token presale. The meme coin looks to leverage natural language processing, predictive analytics and image/video recognition to build a self-sufficient protocol driven by an AI dashboard and native token dubbed SHMU.

    The new meme dog coin is expected to hunt down rivals via a marketing strategy comparable to 100 marketing agencies, thanks to AI. Interest in SHMU and its potential as an investment has seen investors pour over $2.16 million into the token sale. 

    Learn more here.

    Shiba Memu price prediction

    SHMU price has increased from $0.011125 to currently $0.021700. An interesting fact about Shiba Memu presale is its pre-programmed increases that take place every day at 6pm GMT. Investors knowing this offers a clarity of what to expect.

    The expected price increase will take the value of SHMU during the offer to $0.024400. BitMart is already one of the exchanges expected to list SHMU, and demand when tokens launch on more crypto exchanges could help push prices higher.

    It’s a scenario that could see SHMU prices explode to $0.1 when the AI dashboard goes live. The bullish outlook strengthens if crypto’s next bull cycle comes into play.

    However, the short term picture is one where investors are likely to pay attention to the regulatory environment – particularly around the US Securities and Exchange Commission (SEC). One key segment being watched is the potential approval of Ethereum Futures ETFs and spot Bitcoin ETFs. The progression of the SEC vs. Ripple lawsuit is another, while traders will be mindful of the macro environment.

    A bullish combination of these factors could be crucial for cryptocurrencies, including Shiba Memu.

    Share this article
    Categories
    Tags

    Source link

  • Will traders suffer more losses

    Will traders suffer more losses

    Key takeaways

    • Bitcoin dropped below the $26k level on Thursday, with traders losing nearly $1 billion in the process.

    • Chancer’s stage two presale is now closing in on the $1.5 million mark.

    The cryptocurrency market has been extremely bearish since the start of the week. The prices of most cryptocurrencies are down by more than 5% over the last seven days.

    Despite the bearish sentiment, Chancer’s presale is set to hit another benchmark as stage two is approaching the $1.5 million mark.

    Bitcoin drops to the $25k zone

    Bitcoin, the world’s leading cryptocurrency by market cap, has been extremely bearish over the past 24 hours. BTC lost nearly 10% of its value and dropped to the $25,300 level late on Thursday.

    The bearish trend saw long traders lose nearly $1 billion. However, the market is starting to recover, with Bitcoin and others setting new support levels. At press time, the price of Bitcoin stands at $26,543. 

    What does this mean for Chancer?

    The bearish performance could see some investors take advantage of the discount price to invest in more cryptocurrency projects. Investors could be looking to purchase more bitcoins and other cryptocurrencies ahead of a likely bullish cycle.

    As more investors look for projects to invest in, Chancer could be one of the projects they might consider. 

    Chancer is one of the exciting and new projects currently in the cryptocurrency space. With stage two presale set to hit an important milestone, it is clear Chancer is gathering momentum amongst retail investors. 

    The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

    Chancer wants to decentralise the betting industry and is leveraging blockchain technology to achieve its objectives. 

    With Chancer, there are no restrictions to betting opportunities for users. This implies that users can bet on a wide range of events, beyond traditional sports and casino bets. 

    The Chancer presale is in its second stage and has raised nearly $1.5 million of the $2 million required. In the second presale, CHANCER is selling for $0.011 USDT but will be increased to $0.012 in the third stage. 

    Funds raised from the multiple presale events will be geared towards building Chancer’s decentralised P2P betting platform. 

    The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

    According to their whitepaper, Chancer users will have access to a wide range of features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

    Furthermore, with Chancer, users will no longer have to deal with the problems associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

    An important feature of Chancer is that users can bet on various activities. Users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

    CHANCER to go for $0.012 in the third presale stage

    Chancer’s second presale stage will be completed soon and the team will move to the next phase. In this current stage, the CHANCER token is going for $0.011 USDT

    However, the team will increase the token price to $0.012 in the third presale round. Funds generated from the presale will be used to develop Chancer’s suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

    The CHANCER token will power numerous activities within the ecosystem. Token holders can create and invest in markets within the Chancer ecosystem. Furthermore, token holders can also create, participate in, and profit from their very own predictive markets. 

    The CHANCER token can be purchased using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

    Visit the Chancer website to get more information about the presale. 

    Should you invest in Chancer now?

    The recent bearish trend in the market could see more investors troop into the market as they look for buying opportunities. 

    Investors could be looking to invest in projects in their early stages and Chancer could be one of the projects to consider due to its unique native. 

    By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond. The adoption of the Chancer platform could result in a rally by its native CHANCER token. 

    Share this article
    Categories
    Tags

    Source link

  • Shiba Memu presale hits $2.1M as Shiba Inu’s Shibarium faces challenges

    Shiba Memu presale hits $2.1M as Shiba Inu’s Shibarium faces challenges

    • The highly-anticipated Shibarium layer-2 network is having problems with its bridge contract.
    • Approximately $1.7 million worth of Ethereum is currently stuck on the bridge contract.
    • Shibarium launch was expected to add some impetus to the price of SHIB but that has not happened.

    The much-hyped layer-2 network of Shiba Inu, Shibarium, is having significant problems a day after its launch. The network was expected to turn the tables of the SHIB token, which has been under bearish pressure for the last seven days; but that has not been the case. The token has dropped by over 10% since the Shibarium went live.

    But as the future of Shiba Inu hangs on tenterhooks, another Shiba-themed meme coin called Shiba Memu (SHMU) is taking the crypto space by storm with its token presale which has hit $2.1 million in a little over a month. Shiba Memu is leveraging the power of artificial intelligence (AI) and the hype around meme coins.

    What is happening with Shibarium?

    According to an analysis of the Shibarium network’s bridge contract, which transfers money from Ethereum to the layer-2 solution, there is currently $1.7 million worth of Ethereum stranded between the two networks.

    The locked status of the funds has been confirmed by the blockchain security team Beosin, who has advised people to stop using Shibarium temporarily.

    In addition to the locked-up tokens, blockchain sleuth ZachXBT highlighted that $762,000 worth of BONE, a Shibarium governance token, was sent to the bridge contract.

    According to the information on BlockScout, only 236 transactions had been validated on Shibarium Network almost two days after the network was launched.

    Some users have pointed out issues with Shibarium’s remote procedure call (RPC) system, which allows access to a network’s server node to communicate with the blockchain.

    The response by Shiba Inu’s developer

    Interestingly, the pseudonymous Shiba Inu developer Shytoshi Kusama repudiated reports that what Shibarium was facing was “a bridge issue.” In a newsletter, Kusama said:

    “Our technical difficulties are due to the massive amount of traffic we experienced within moments on Shibarium,” they said. “The team is working tirelessly to fix the issue and scale so that we can give the ShibArmy the experience they deserve. All funds are safe.”

    A moderator in Shibarium’s Discord also stated that “as a precautionary measure,” admins “have temporarily restricted access to certain channels due to the spread of misinformation and fake websites.”

    What Shibarium’s misfortunes mean for Shiba Memu

    Well, Shiba Inu stands out as a major rival to Shiba Memu and its mishaps could only be translated to mean an advantage to the new Shiba Memu project, which is already on course to become the most popular meme coin project.

    Shiba Memu is a revolutionary token combining AI and the latest technology to create an entirely self-sufficient marketing powerhouse, deviating from the norm of most meme coins which purely depend on community involvement.

    Share this article
    Categories
    Tags



    Source link

  • Bitcoin could go higher but ‘not before it goes lower’

    Bitcoin could go higher but ‘not before it goes lower’

    bitcoin price forecast wolfe research analyst
    • Rob Ginsberg says Bitcoin could go further down in the near-term.
    • The Wolfe Research analyst explained why in a research note today.
    • Bitcoin (BTC) has already lost more than 11% in about a month.

    Bitcoin has already lost more than 11% in about a month but a Wolfe Research analyst says a further price decline is still likely.

    Bitcoin could see more weakness ahead

    Rob Ginsberg is convinced that the world’s largest cryptocurrency that has pulled back sharply from its year-to-date high in recent weeks will eventually break out to the upside.

    In the near-term, though, he expects Bitcoin to see more weakness. According to the analyst’s research note on Thursday:

    Could it finally breakout and expand higher? Certainly, but likely not before it goes lower, as has been the trend.

    Note that the BTC has aggressively rallied following a period of tight consolidation over the past two years. Christopher Jaszczynski – another crypto analyst also dubbed Bitcoin on knife’s edge today (read more).

    Headwinds that could weigh on Bitcoin

    A day earlier, the U.S. Federal Reserve released minutes of its July meeting that showed most members saw a possibility of further rate hikes ahead – a potential headwind for Bitcoin.

    Wolfe Research analyst Rob Ginsberg noted the U.S. dollar regaining strength as a mounting challenge for the cryptocurrency as well.

    These near-term headwinds are likely to force price lower and keep volume muted across the space. If history is any indication, however, when price does expand, expect it to be abrupt.

    He said the $31,000 level was one to watch as it coincides with a key resistance. Bitcoin has rejected from that level multiple times this year.

    Share this article
    Categories
    Tags

    Source link

  • Binance announces Serum, Sonm and DFI.money delisting

    Binance announces Serum, Sonm and DFI.money delisting

    • The Binance news saw all three altcoins nosedive double-digits.
    • Serum (SRM) was down 29%, Sonm (SNM) shed 58% and DFI.money (YFII) declined by 16% in 24 hours.
    • Trading on all pairs for the tokens will end on August 22, 2023.

    Serum (SRM), Sonm (SNM) and DFI.money (YFII) are among the biggest losers in the crypto market today. As of writing, SRM, SNM and YFII have all plummeted double-digits.

    Binance to delist SRM, SNM and YFII

    Binance announced on Tuesday that it will “delist and cease trading on all trading pairs” for Serum, DFI.Money and Sonm from its platform on August 22. The exchange noted in a notice to customers that the delisting is part of its period review of every listed digital asset.

    “When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users,” the exchange said in a general announcement.

    Although Binance did not specify the reasons for removing support for each of the altcoin, it did cite certain metrics considered during the periodic reviews. These include team commitment, development activity, trading volume and liquidity and network safety with regard to attacks.

    Market reaction plunges affected altcoins

    According to data from CoinGecko, Sonm has seen the most declines in its 24-hour performance as it traded 58% down around 9.45 am ET. The token was changing hands for around $0.105392.

    Serum has nosedived 29% in the same period to just above $0.05 to see its 7-day returns reach -35% and over 50% in the past 30 days. Serum, a project linked to FTX and Alameda Research, is down 99.6% from its all-time high above $13 hit in September 2021.

    Elsewhere, DFI.money, which is a yield farming aggregator forked from yearn.finance, was down 16% in the past 24 hours to trade around $605. YFII has declined by more than 24% in the past month and traded at a level that’s more than 93% down from its ATH of $9,251 reached in September 2020.

    Declines for the three altcoins come as most of the top 20 assets by market cap continued to trade flat, with Bitcoin constrained below $30k and Ethereum unable to breach $1,900. 

    Share this article
    Categories
    Tags

    Source link

  • Recently listed Bitcoin Depot reports record revenue for its Q2

    Recently listed Bitcoin Depot reports record revenue for its Q2

    bitcoin depot reports record revenue for q2
    • Bitcoin Depot reports an 18% annualised growth in its Q2 revenue.
    • The Bitcoin ATM operator also updated its full-year guidance today.
    • Bitcoin Depot stock is in the green only marginally on Monday.

    Bitcoin Depot Inc says its revenue jumped 18% to a record $197.5 million in the second quarter. The stock is still only marginally in the green at writing.

    Bitcoin Depot reports a big increase in loss

    Shares of the Bitcoin ATM operator are having a hard time this morning primarily because the Georgia-based company lost $6.1 million in its recently concluded quarter, down an alarming 249% versus last year.

    Its adjusted EBITDA, though, went up 54% to $19.8 million in Q2. Brandon Mintz – the Chief Executive of Bitcoin Depot said today in the press release:

    We’re in position to further strengthen our balance sheet as we execute on our growth strategy … we’re positioned to support mass crypto adoption as the leading Bitcoin ATM network.

    Note that the U.S. firm debuted on Nasdaq only last month on July 3rd.

    Bitcoin Depot’s guidance for the full year

    Bitcoin Depot had $20.5 million worth of total operating expenses in its second quarter – up significantly from $12 million a year ago.

    In Q2, the Nasdaq-listed firm partnered with a bunch of notable names including Stinker Stores, Jacksons Food Store, Gas Express, FastLane etc. According to CEO Mintz:

    We’ve announced multiple partnerships and expanded our BDCheckout program. We look forward to increasing the number of our Bitcoin access points across North America.

    Just days ago, he said the Bitcoin ATM space was ready for consolidation. Bitcoin Depot Inc now forecasts its revenue to grow by 8% to 13% this year on up to 44% increase in adjusted EBITDA.

    Share this article
    Categories
    Tags

    Source link

  • Nearly $2M raised amid investor interest

    Nearly $2M raised amid investor interest

    • Shiba Memu presale is closing in on $2 million mark, with nearly $1.9 million already raised.
    • Interest in the AI-powered crypto meme coin has soared in recent weeks.
    • Early investors into the project could benefit from potential long term gains.

    Few crypto projects currently boost the amount of attention that Shiba Memu, a new meme coin powered by artificial intelligence, is seeing in the market. 

    As Bitcoin and major altcoins continue to stall at key levels, this crypto project’s presale is attracting massive interest and is on the verge of clocking the $2 million raised milestone.

    But what’s making Shiba Memu a likely gem for early investors? We assess below.

    Shiba Memu and the meme coin hype

    Pepe (PEPE) and Shiba Inu (SHIB) and Floki (FLOKI) have been some of the crypto meme projects to attract huge traction this year. Given how popular these tokens have become, it might be difficult for a new project taking a similar approach to steal some of the fervour and build a community to rival these meme coin leaders.

    Yet Shiba Memu is looking to achieve just that using a self-marketing strategy powered by AI. While the likes of PEPE and FLOKI need a significant input of human-driven hype to promote themselves to the community, Shiba Memu will leverage a cutting-edge AI dashboard to reach the global market.

    As such, what top meme coins have been able to achieve with traditional marketing strategies could be improved upon manifold by Shiba Memu’s groundbreaking system. Does this mean the project has the capacity to challenge the likes of Dogecoin, Shiba Inu and Pepe?

    Most probably, with all the buzz around the project as seen during the ongoing presale. It all suggests investors see Shiba Memu as having long term investment potential.

    How Shiba Memu plans to tap into AI technology

    Artificial Intelligence is making waves across the tech industry, pulling in billions of dollars’ worth of investment from global giants Microsoft, Meta, Google and Apple among others. Companies such as Nvidia and Palantir have also bet big on the potential for AI to drive revenues and adoption.

    It’s a trend also seen across crypto, with crypto AI a new narrative that’s driving applications in trading, decentralised cloud computing, and prediction markets. It’s along these lines that Shiba Memu is looking to become the top AI-powered dog meme coin.

    For instance, an automated marketing dashboard will use natural language processing, predictive analytics, sentiment learning and image and video recognition to intelligently target new markets for the native SHMU token. 

    Akin to a puppy learning new tricks every day, AI is forecast to polish Shiba Memu into what could become the dominant meme coin.

    Is buying Shiba Memu today a good investment move?

    The Shiba Memu presale currently has SHMU priced at $0.020125. The project has so far raised nearly $1.9 million even as the token’s value has increased from $0.011125 when the token sale launched a few weeks ago.

    Notably, and perhaps more appealing to investors is that the token’s value is programmed to increase every day at 6 pm GMT. It will eventually hit $0.024400 for a total of 119% upside from that presale debut price. Going past key levels such as $0.1 and $0.5 on market debut could mean gains of between 310% and 1,950%.

    As with every other investment, the key is to acknowledge the risks involved versus the potential reward. This also applies to Shiba Memu, which as noted, is a new crypto project looking to revolutionise an industry that is very nascent.

    However, given the projections for both crypto and AI, the latter from tech giants such as Microsoft, suggests putting some money into Shiba Memu as part of an investment portfolio could be worth it down the road.

    Learn more about Shiba Memu here.

    Share this article
    Categories
    Tags

    Source link

  • CleanSpark reports a 47% annualised growth in quarterly revenue

    CleanSpark reports a 47% annualised growth in quarterly revenue

    cleanspark q3 earnings report
    • CleanSpark narrowed its loss in its fiscal third quarter.
    • The bitcoin mining company had a blockbuster July.
    • CleanSpark shares are up over 150% YTD at writing.

    Bitcoin miner CleanSpark Inc is trading slightly up in extended hours after reporting a narrower-than-expected loss for its fiscal third quarter.

    CleanSpark Q3 financial highlights

    Lost $14.2 million versus the year-ago $29.3 million

    Per-share loss also narrowed from 40 cents to 12 cents

    Revenue jumped 47% year-on-year to $45.5 million

    Consensus was 17 cents loss on $45.7 million revenue

    Ended the quarter with $125 million of cash and bitcoin

    The bitcoin mining company now has assets worth more than liabilities on its balance sheet. Gary Vecchiarelli – the Chief Financial Officer of CleanSpark said today in the press release:

    I like the flexibility of our balance sheet and our operational performance. We have all pieces in place to extend our strong track record of growth and operational excellence.

    CleanSpark had a blockbuster July

    CleanSpark had its Georgia location go live in July that added more than 15,000 miners and 50 megawatts of power, as per the press release.

    The Nasdaq-listed firm trailed only Marathon Digital and Core Scientific in terms of the number of bitcoin mined last month. According to its CEO Zach Bradford:

    We have fully funded our growth to 16 EH/s, including miners, facilities, and other infrastructure. We continue to build on our track record of executing on commitments.

    The hash rate improved to 9 EH/s in its recently concluded quarter. At writing, shares of CleanSpark Inc are up more than 150% versus the start of 2023. Its peer Marathon Digital also reports its quarterly update earlier this week (read more).

    Share this article
    Categories
    Tags

    Source link