The UAE’s mining journey began with Bitcoin miner Marathon Digital partnering with Zero Two — the digital asset arm of Abu Dhabi’s sovereign wealth fund — in May. The joint venture established two mining sites with a combined 250-megawatt (MW) capacity in Abu Dhabi. Continue Reading on Coin Telegraph More
“June was very productive, with key developments across our mining and high performance computing operations businesses, and progress on obtaining key regulatory approvals related to the merger with USBTC,” said CEO Jaime Leverton. “We are committed to keeping that momentum going as we work diligently at closing the transaction with USBTC.”Hut 8 is one of North America’s largest innovation-focused digital asset miners, led by a team of business-building technologists, bullish on bitcoin, blockchain, Web 3.0, and bridging the nascent and traditional high performance computing worlds. With two operational digital asset mining sites located in Southern Alberta, Hut 8 has one of the highest capacity rates in the industry and one of the highest inventories of self-mined Bitcoin of any digital asset miner or publicly-traded company globally. With over 36,000 square feet of geo-diverse data centre space and cloud capacity connected to electrical grids powered by significant renewables and emission-free resources, Hut 8 is revolutionizing conventional assets to create the first hybrid data centre model that serves both the traditional high performance compute (Web 2.0) and nascent digital asset computing sectors, blockchain gaming, and Web 3.0. Hut 8 was the first Canadian digital asset miner to list on the Nasdaq Global Select Market. Through innovation, imagination, and passion, Hut 8 is helping to define the digital asset revolution to create value and positive impacts for its shareholders and generations to come.This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company’s businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. In addition, any statements in this press release that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among others, statements regarding: Bitcoin network dynamics; the Company’s ability to advance its longstanding HODL strategy; the Company’s ability to produce additional Bitcoin and maintain existing rates of productivity at all sites; the Company’s ability to continue mining digital assets efficiently; the sale of the Company’s Bitcoin production and the proposed use of proceeds from such sale; the Company’s plans with respect to the energization of the miners that were removed from the North Bay facility; the Company’s expected recurring revenue and growth rate from its high performance computing business; the remediation of the operational issues at the Company’s Drumheller facility, and the timing thereof; expectations related to Hut 8 Corp.’s hashrate and self-mining capacity; the ability of Hut 8 and USBTC to complete the Transaction, including, receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other closing customary conditions; and the Company’s ability to successfully navigate the current market.Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks, malicious actors or botnet obtaining control of processing power on the Bitcoin network, further development and acceptance of the Bitcoin network, changes to Bitcoin mining difficulty, loss or destruction of private keys, increases in fees for recording transactions in the Blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third party mining pool service providers, regulatory changes, classification and tax changes, momentum pricing risk, fraud and failure related to digital asset exchanges, difficulty in obtaining banking services and financing, difficulty in obtaining insurance, permits and licenses, internet and power disruptions, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, failure to anticipate technology innovations, the COVID19 pandemic, climate change, currency risk, lending risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, changes in network and infrastructure, system interruption, changes in leasing arrangements, failure to achieve intended benefits of power purchase agreements, potential for interrupted delivery, or suspension of the delivery, of energy to the Company’s mining sites, and other risks related to the digital asset and data centre business. For a complete list of the factors that could affect the Company, please see the “Risk Factors” section of the Company’s Annual Information Form dated March 9, 2023, and Hut 8’s other continuous disclosure documents which are available on the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the EDGAR section of the U.S. Securities and Exchange Commission’s website at www.sec.gov.These factors are not intended to represent a complete list of the factors that could affect Hut 8; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected or targeted and such forward-looking statements included in this press release should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Hut 8’s future decisions and actions will depend on management’s assessment of all information at the relevant time. The forward-looking statements contained in this press release are made as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.In connection with the Transaction, that, if completed, would result in New Hut becoming a new public company, Hut 8 Corp. (“New Hut”) has filed a registration statement on Form S-4 (the “Form S-4”) with the U.S. Securities and Exchange Commission (the “SEC”). USBTC and Hut 8 urge investors, shareholders, and other interested persons to read the Form S-4, including any amendments thereto, the Hut meeting circular, as well as other documents to be filed with the SEC and documents to be filed with Canadian securities regulatory authorities in connection with the Transaction, as these materials will contain important information about USBTC, Hut 8, New Hut and the Transaction. New Hut also has, and will, file other documents regarding the Transaction with the SEC. This press release is not a substitute for the Form S-4 or any other documents that may be sent to Hut’s shareholders or USBTC’s stockholders in connection with the Transaction. Investors and security holders will be able to obtain free copies of the Form S-4 and all other relevant documents filed or that will be filed with the SEC by New Hut through the website maintained by the SEC at www.sec.gov or by contacting the investor relations department of Hut 8 at [email protected] and of USBTC at [email protected] press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”) or in a transaction exempt from the registration requirements of the Securities Act. View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-mining-production-and-operations-update-for-june-2023-301870748.htmlSOURCE Hut 8 Mining Corp More
In a July 5 announcement on its blog, OpenAI said the new team will be created to “steer and control AI systems much smarter than us.” Continue Reading on Coin Telegraph More
He also poured criticism on those who are praising BlackRock (NYSE:BLK)’s filing with the SEC to open their own Bitcoin ETF.More reasons for believing in the upcoming triumph of ADA on the market are its fundamentals and the DeFi season Gambardello expects to start soon.The poll does not seem to have any particular topic, aside from “which community will win – ADA or Bitcoin.” Out of 14,030 participants, 54.9% voted for ADA, while the remaining 45.1% chose Bitcoin.A couple of weeks ago, BlackRock (with $9.09 trillion worth of assets under management) sent a shock wave across the markets, submitting a filing with the U.S. securities regulator to set up its own Bitcoin spot exchange-traded fund (ETF).BlackRock’s filing was instantly followed by several other major Wall Street companies, including Fidelity, also wishing to create their own BTC spot ETFs. These Wall Street giants (BlackRock not included here) even rolled out their own centralized crypto exchange, EDX. Both of these factors pushed the Bitcoin price up high, allowing it to regain the $31,000 level. Overall, since the start of 2023, Bitcoin has increased in price by 83%, twice surpassing Nasdaq Composite Index.Bitcoiners on Crypto Twitter, including big names such as Anthony Pompliano, instantly began praising BlackRock for endorsing Bitcoin and its new level of adoption and interest from institutional investors.Gambardello criticized those BTC advocates since they are not praising BTC for “decentralization or freedom from the manipulative thieving banks” but for the fact that BlackRock is now holding a huge Bitcoin bag.Still, it must be said that he is not a Bitcoin critic – BTC and ADA are the cryptos he mentions in his videos and tweets most often, betting on both of these cryptocurrencies.This article was originally published on U.Today More
According to Glassnode, an on-chain data provider, the demand for bitcoin (BTC) options contracts has witnessed a remarkable surge, with open interest reaching $13.8 billion, coming close to its all-time high of $15.1 billion. This remarkable increase suggests investors actively seek risk-defined derivative instruments to expand their investment exposure. On-chain data is crucial in analyzing market sentiment and trends within the cryptocurrency space. As Glassnode highlights, the peak of a bitcoin bull market and the depths of a bear market have distinct on-chain signatures.Earlier this year, BitcoinIRA, an individual retirement account (IRA) platform that allows individuals to manage their retirement accounts, conducted a survey to assess how investors feel about cryptocurrencies. The firm found that despite the decline in the bitcoin price, investors still hold a positive outlook on crypto. In spite of a predominantly bearish atmosphere, bitcoin has shown resilience, surpassing other financial instruments and currencies during the year’s first half.In light of this trend, market observers suggest the return of smart investors to the crypto space, potentially signaling the start of a bull run. With increasing investor interest in risk-defined exposure through options contracts, the market’s sentiment seems to be shifting toward optimism. Options contracts allow investors to manage risk by setting predefined parameters. These risk-defined instruments enable traders to speculate on the future price movement of the leading cryptocurrency while limiting potential losses. The surge in demand for bitcoin options contracts indicates that investors seek more sophisticated tools to navigate the cryptocurrency market and capitalize on potential opportunities. As the market evolves, investors explore different strategies to maximize their exposure to profits while minimizing risks. The bitcoin price has climbed above the 30,000 mark this month, reflecting a decent 13.8% increase. BTC was trading at $30,429 at press time, losing over 1.25% over the past 24 hours.This article was originally published on Crypto.news More
In a wide-ranging interview with Cointelegraph, Andersson said he thinks the increasing popularity of decentralized spot trading will inevitably lead to outsized demand for decentralized derivatives. Continue Reading on Coin Telegraph More
Speaking on Fox Business on July 5, Fink said the role of cryptocurrency was largely “digitizing gold,” suggesting U.S. regulators consider how an ETF directly linked to Bitcoin (BTC) could democratize finance. During his time at BlackRock, Fink has often commented on major events affecting the crypto space, including the collapse of FTX in 2022 and rising interest in BTC. Continue Reading on Coin Telegraph More
Once implemented on mainnet, v4 is expected to allow for “full decentralization” of the exchange.Continue Reading on Coin Telegraph More
