The developers highlighted the platform’s speed. It performed 118,000 ERC-20 transactions per second on 128 hosts — exceeding public permissionless blockchains, they said. The platform was thus capable of handling cross-border contracting and could be used to innovate supply chains and compliance checks as well. Continue Reading on Coin Telegraph More
Owner Elon Musk had previously warned that he wasn’t afraid to keep “blowing things up” as he and newly appointed X CEO Linda Yaccarino continue to fudge the subscription service features further. Continue Reading on Coin Telegraph More
The adoption of Bitcoin has been accompanied by a positive feedback cycle in which increased users have resulted in a rise in BTC’s value, drawing even more players. Bitcoin had a small user base in the early days, and its value was relatively low.Continue Reading on Coin Telegraph More
Separate filings submitted to the U.S. Securities and Exchange Commission reviewed by Cointelegraph outline respective applications from the likes of Grayscale, VanEck, Bitwise, Volatility Shares, ProShares and Round Hill Capital.Continue Reading on Coin Telegraph More
“In less than one month we brought 2.3 EH/s of capacity online and doubled our bitcoin holdings,” said CleanSpark CEO Zach Bradford. “We increased our bitcoin holdings due to what we see as substantial momentum building across the bitcoin ecosystem. This move further underscores our commitment to bitcoin and our critical role in building bitcoin infrastructure.”We entered the bitcoin mining industry just over two-and-a-half years ago and during that time we’ve increased our hashrate to 9 EH/s. This monumental effort demonstrates the experience and grit of our teams. They are our secret sauce—the reason our operations have scaled so successfully. We are now on a journey to nearly double our size to 16 EH/s in the next half of the year. During this time of rapid growth we will also be turning our attention to filling any gaps and optimizing our fleet to further boost our hashrate and efficiency. I look forward to providing further insights on our past and future efforts on our earnings call next week.”July Bitcoin Mining Update (unaudited)*Operating hashrate for the month averaged approximately 7.6 EH/s due to several weeks of rapid growth. Full value of month-end hashrate expected to be realized in August’s monthly update.The Company sold 43 bitcoins in July 2023 at an average of approximately $29,300 per BTC. Sales of BTC equated to proceeds of approximately $1.3 million. July daily BTC mined averaged 18.6 and reached a high of 21.1.About CleanSpark CleanSpark (CLSK) is America’s Bitcoin Miner™. Since 2014, we’ve helped people achieve energy independence for their homes and businesses. In 2020, we transitioned that expertise to develop responsible infrastructure for Bitcoin, an essential tool for financial independence and inclusion. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. CleanSpark holds the 44th spot on the Financial Times’ 2022 List of the 500 Fastest Growing Companies in the Americas and ranks thirteenth on Deloitte’s Fast 500. For more information about CleanSpark, please visit our website at www.cleanspark.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations of realizing the benefits of 9.0 EH/s of operating hashrate, achievement and timing of reaching our target guidance of 16 EH/s, the expansion and timing of such expansion of the bitcoin mining facilities in Sandersville, Georgia, and the resulting anticipated benefits to CleanSpark (including as to anticipated additions to CleanSpark’s hashrate and the timing thereof). We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our future results of operations and financial position, industry and business trends, business strategy, expansion plans, market growth and our objectives for future operations.The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the anticipated timing of the expansions; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and any subsequent filings with the SEC. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.You should read this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.Investor Relations Contact Matt [email protected] Media Contacts Isaac Holyoak [email protected] BlocksBridge ConsultingNishant [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-releases-july-2023-bitcoin-mining-update-301891585.htmlSOURCE CleanSpark, Inc. More
During this period, key metrics such as whale transactions and weekly price volatility have surged, indicating potential market sentiment and activity shifts. Whale transactions involving Bitcoin worth at least $1 million have witnessed a remarkable rise, per Santiment data. Prominent institutional investors or high-net-worth individuals generally initiate these transactions. Their trading activity can exert considerable influence on the market due to their substantial holdings.BTC price, whale transaction count and volatility – Aug. 2 | Source: SantimentFrom July 27 to August 1, the market observed a decrease in BTC whale transactions. However, amid the recent Bitcoin price recovery, the whale transaction count experienced reasonable spikes.Another crucial metric to consider is Bitcoin’s price volatility, which measures the price fluctuation within a specific timeframe. On August 1, a sharp drop in weekly price volatility was observed as BTC plummeted below $29,000. Interestingly, amid this decline in weekly price volatility, Bitcoin witnessed a remarkable spike in volatility in the daily timeframe. However, weekly volatility surged again after the subsequent price recovery. Elevated volatility often indicates increased uncertainty and may lead to rapid changes in market sentiment.The interplay between whale transactions and volatility can significantly affect the market’s direction. A surge in whale transactions amid rising volatility may signal the potential for more significant price movements in the near future. While the current metrics have not yet attained the high levels observed between July 24 and July 27, the gradual increase in a 24-hour timeframe indicates a continuous rise in market activity.Meanwhile, Bitcoin has relinquished the $30,000 territory, dipping below it shortly after the latest recovery. Despite the drop, BTC continues to hold above the $29,000 zone, currently trading for $29,525 at the reporting time. The asset seeks to leverage this position for the next run to $30,000.This article was originally published on Crypto.news More
Abracadabra protocol allows users to earn money by using interest-bearing assets such as CRV, Convex Finance (CVX) and Yearn.finance (YFI) as collateral to mint Magic Internet Money (MIM) — a United States dollar-pegged stablecoin. Spell Token (SPELL) is the native governance and staking token of the Abracadabra platform. Continue Reading on Coin Telegraph More
In today’s digital era, the spread of information via social media and internet platforms has given people the power to access news from many different sources. The growth of fake news, meanwhile, is a drawback of this independence. Fake news is inaccurate information that has been purposefully spread to confuse the public and undermine confidence in reputable journalism. Maintaining an informed and united global community requires identifying and eliminating fake news.Continue Reading on Coin Telegraph More
