CleanSpark to acquire two Bitcoin mining campuses for $9.3M
CleanSpark will complete the $9.3 million all-cash deal for the two turnkey Bitcoin mining facilities this week. The facilities in Dalton, Georgia, will host 6,000 Antminer S19 XPs and S19J Pro+ rigs. CleanSpark CEO Zach Bradford says the deal puts the miner on track to reach its year-end hashrate target of 16 EH/s CleanSpark (NASDAQ: […]
Bitcoin mining stocks are far riskier than Bitcoin itself
Key Takeaways Bitcoin mining stocks have underperformed Bitcoin heavily over the last year Greater competition among miners and higher amounts of energy required means margins are thinner Rising electricity costs and lower value of Bitcoin have also hurt miners immensely Greater number of variables beyond merely the price of Bitcoin means mining stocks have been […]
Why is Bitcoin price up today?
Key takeaways Bitcoin briefly touched the $29k level on Wednesday after rallying by more than 6% in the last 24 hours. The rally comes after BlackRock filed for a Bitcoin ETF and Fidelity, Schwab, and Citadel backed a crypto exchange. Institutional interest pushes Bitcoin higher Bitcoin has been performing well since the start of the […]
Stacks (STX), Optimism (OP), Kaspa (KAS) rally as Bitcoin soars
Stacks (STX) price was up 25% as Bitcoin (BTC) broke above $28k for the first time in weeks. Optimism (OP) and Kaspa (KAS) also gained double-digits. The tokens were outperforming major altcoins such as Ethereum, BNB and XRP. As Bitcoin (BTC) broke to highs above $28k on Tuesday, several altcoins took cue to post huge […]
Schwab-backed crypto exchange EDX Markets goes live
EDX officially launched trading in bitcoin, ether, litecoin, and bitcoin cash today. The crypto exchange has also completed a second funding round with new investors. EDX has plans of launching a clearinghouse business later this year as well. Investors can now trade bitcoin, litecoin, ether, and bitcoin cash on a new digital assets marketplace – […]
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Bitcoin signals potential breakdown, top analyst says
Bitcoin (BTC) is positioned for further downside as a new Weekly Close below the 200-week moving average signals. BTC rejecting from above $26k would welcome bears to the party as double-confirmation of the breakdown. According to crypto analyst Rekt Capital, the 200-week MA is a robust resistance zone. As Bitcoin bulls face rejection from above […]
Bitcoin shrimps to fish added 254% of mined BTC last month
Bitcoin’s price struggles aside, last month saw more entities with less than 100 BTC buy 2.54X of all coins mined. Glassnode data shows these entities added 2,286 BTC per day. Shrimps increased their BTC holdings by 117% last month, while crabs added 80% and fish bought 57% of mined bitcoin. It appears Bitcoin (BTC) wallet addresses […]
China will lead crypto’s next bull market
Arthur Hayes says the crypto autumn rally will be catalysed by Chinese traders. According to the BitMEX co-founder, a weakening of the yuan amid massive credit issuance will drive capital into crypto markets. He notes that “Hong Kong will be the conduit through which Chinese capital is allowed to own crypto.” Arthur Hayes, the co-founder […]
Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll
Key Takeaways Our Head of Research, Dan Ashmore, digs into Bitcoin’s relationship with stocks Correlation between Bitcoin and the Nasdaq is at its lowest point since 2018 The Nasdaq is up 10% in the last month as stocks have surged off softer forecasts around interest rates and the macro climate Bitcoin is down 9% in […]