Aurelia Butler

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  • 113 Shares179 Views

    in Cryptocurrency

    Bit Origin Limited Reports September 2023 Production and Operation

    In September 2023, the Company ceased its operation in the Indiana facility and gradually moved its operation to the Wyoming facility.As of September 30, 2023, the total mining hash rate stands at 320 PH/s with 3,200 miners installed in the Wyoming facility, with the remaining 1,050 miners waiting to be deployed.The Company mined 15.9 Bitcoins and achieved a revenue of US$416,444 in September 2023.As of September 30, 2023, the Company operates in a mining data center facility in Wyoming, which the Company is an investor. The Company ceased its operation in the mining facilities in Georgia from December 2022 and Indiana from September 2023 respectively.Mining Site – Cheyenne, WY, 45MWOn June 15, 2022, the Company announced that it entered into a set of definitive agreements with a private cryptocurrency mining investment fund (the “Fund”). The Fund is investing in a mining site (the “Project”) in Wyoming, U.S. with a capacity of up to 75 MW.Phase I of the Project of a capacity of up to 45MW for the mining facility in Wyoming was energized in March 2023. The Phase II of 25MW is undergoing engineering design process currently. About Bit Origin Ltd Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., is an emerging growth company operating in the United States and engaged in the cryptocurrency mining business. The Company is also actively deploying blockchain technologies alongside diversified expansion strategies. For more information, please visit https://bitorigin.io.Safe Harbor StatementThis announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.Company ContactBit Origin Ltd Mr. Lucas Wang, Chairman and Chief Executive OfficerEmail: [email protected] keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact Source: Bit Origin Ltd More

  • 125 Shares99 Views

    in Cryptocurrency

    ARK Invest amends Bitcoin ETF filings amid SEC review process

    The updated filings include an expanded prospectus detailing the proposed BTC ETF’s structure, asset custody procedures such as individual wallets for each Bitcoin, and valuation methods. They also highlight the creation of segregated accounts on the Bitcoin blockchain for holding assets. These adjustments signify a proactive dialogue with the SEC and progress being made towards potential approval.Bloomberg analysts viewed these amendments as positive signs. They noted that the prospectus is now five pages longer, reflecting ARK’s thorough response to SEC’s comments.Meanwhile, Grayscale Bitcoin Trust (GBTC) is approaching a crucial deadline following a New York court ruling against the SEC’s refusal of its application to convert into a spot Bitcoin ETF. The regulator is obligated to deliver a final verdict by January 10, 2024. GBTC’s Net Asset Value (NAV) discount is diminishing rapidly, indicating market anticipation of likely SEC approval.There are two prevailing theories regarding the SEC’s decision-making process: it may either have to approve all compliant applications or could approve all simultaneously to avoid giving any applicant a first-mover advantage. The market predicts mass approval by January next year, with early approval deemed unlikely and rejections considered improbable due to the initiation of dialogue by the SEC and the ongoing recovery of GBTC’s NAV.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 138 Shares99 Views

    in Economy

    More work to do in tackling non-bank risks, says FSB’s Knot

    LONDON (Reuters) -Higher interest rates have so far not seriously undermined the global financial system, but “there is work to do” in tackling liquidity issues and hidden leverage in the non-bank sector, Financial Stability Board chair Klaas Knot said on Thursday.The non-bank financial intermediary (NBFI) sector, which now accounts for about half of global financial assets and includes investment funds, has had pockets of leverage coming to the fore which previously had not been spotted by regulators, Knot said.”Why did we not see these pockets of hidden leverage? That, I think, is still the main target of our work in the NBFI space going forward,” Knot said. The banking industry was in turmoil earlier this year as several U.S. lenders collapsed, including Silicon Valley Bank, and UBS was forced to take over Swiss rival Credit Suisse.Knot, who is also governor of the Dutch central bank and a European Central Bank (ECB) policymaker, said the reasons behind difficulties at those banks were due to “idiosyncratic factors” and not systemic failures.”In general the massive change in the interest rate environment, so far so good, there has not been any systemic rippling of negative effects into the financial sector,” Knot told the Institute of International Finance annual meeting. The FSB, made up of central bankers, regulators and treasury officials from G20 economy countries, has already begun tightening rules for money market funds and open ended funds.Earlier this week, the Bank of England flagged tougher liquidity rules for money market funds, while the UK’s Financial Conduct Authority is looking at valuations in private markets.”The combination of liquidity mismanagement plus hidden leverage, that I think has given rise to the instabilities that we observed in the NBFI space… We are not done yet.”The ECB is due to decide whether to push ahead with issuing a digital version of the euro currency, and Knot said it would not dramatically change business models of banks, if it went ahead.Meanwhile, AI could have tangible benefits and present some risks to the financial system, he said.”It is going to be important, it is going to have a meaningful impact on the financial system so we have to continue to be on top of it.” More

  • 125 Shares169 Views

    in Economy

    ECB’s inflation target faces hurdles, warns Austrian central bank chief

    Holzmann also raised doubts about projection models’ ability to account for structural changes over the long term. His comments come against the backdrop of the ECB’s September forecasts, which anticipate consumer-price growth reaching the target by late 2025. The Austrian central bank chief’s views underscore the complexities faced by the ECB in their pursuit of a steady inflation rate amidst evolving economic and environmental landscapes. The ECB’s September forecasts remain positive, but Holzmann’s warnings highlight the potential risks associated with achieving this goal.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 100 Shares189 Views

    in Cryptocurrency

    Dogecoin transaction volume dips; analysts predict potential increase

    The cryptocurrency is currently valued at $0.058, marking a daily loss of 1.2%. Over the past week, it has lost 4.8% of its value, and over the past month, it has lost 4.66%. The annual loss stands at 16.86%.In a potentially positive development for Dogecoin, Kabosu, the Shiba Inu dog that inspired the creation of the cryptocurrency, is set to have a statue unveiled in her honor in Sakura, Japan on November 2nd. This follows a successful fundraising campaign and could potentially boost Dogecoin’s price and transaction volume.As with all investments in cryptocurrencies, there is an inherent risk involved. Investors are advised to carefully consider their investment decisions and understand that past performance may not be indicative of future results.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 113 Shares109 Views

    in Cryptocurrency

    Platypus DeFi loses $2.2M in another flash loan exploit

    According to the blockchain security platform CertiK, the DeFi platform suffered three attacks, with $2.23 million taken across the exploits. On Oct. 12, the first attack took place, extracting $1.2 million from the platform. A second attack occurred hours later, stealing $575,000 worth of assets from the platform. Just a minute later, the third attack occurred, with $450,000 in assets lost.Continue Reading on Coin Telegraph More