Alexander Blume said subdued funding rates and continued call selling suggest the rebound is not yet being driven by excessive speculation.
Weakening profitability overshadowed a major milestone in IREN’s transformation into an AI cloud provider.
Miners with AI and high-performance computing contracts have commanded higher valuations as declining bitcoin prices and hashprice squeeze pure-play operators.
The Energy Ministry enacted the year-round restriction to mitigate power capacity shortages, as energy-intensive mining facilities continue to strain regional grids.
The bitcoin miner’s 20-year agreement highlights an industry-wide shift toward AI infrastructure revenue.
Difficulty falls as weak mining economics reduce capacity, while forward markets signal little relief through year-end.
Texas broke its all-time electricity demand record twice in two days last week. ERCOT served a preliminary 91,308 megawatts around 5 p.m. on July 22, one day after demand hit 87,403 megawatts and erased the 85,508-megawatt mark that had stood since Aug. 10, 2023. Neither afternoon saw an appeal for energy conservation, and the system […]
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The bitcoin miner reached a market valuation of roughly $2.8 billion based on its 44.9 million shares outstanding.
The agreement accelerates Core Scientific’s pivot from bitcoin mining toward AI data centers, following the termination of its ASIC agreement with Block.
The Singapore-based company once controlled nearly a fifth of Bitcoin's global hashrate. Now it owes $173 million and is selling off what's left.
The long-term deal sparked a rebound in AI compute stocks after investors questioned demand for new data center capacity.
Mark Palmer said Hut 8's Beacon Point project transforms the company into an AI infrastructure platform with a long growth runway.
Solo Bitcoin mining has surged, with 24 blocks found in the past 12 months, a 41% increase year over year.
TeraWulf says its $19 billion AI hosting agreement with Anthropic underscores its transformation from a Bitcoin miner into an AI infrastructure company.
Miners must redirect their hashrate before the July 31 cutoff, as the pool will stop accepting contributions after that date.
Galaxy Digital’s stock surge points to a new trend: Investors are rewarding some crypto firms for AI infrastructure, not just digital asset exposure.
The former bitcoin miner denied any wrongdoing related to its 2023 merger with U.S. Bitcoin Corp.
A growing share of miners are operating near breakeven levels, making hashrate and mining difficulty increasingly responsive to bitcoin's price movements, the bank said.
Bitcoin miners double down on AI, tokenized RWAs top $43 billion, Ripple strengthens its African payments network and Sam Bankman-Fried loses his appeal.
GoMining unveiled a software development kit and programmable access for its bitcoin payment protocol GoBTC Pay, allowing merchants to accept BTC for everyday purchases.
The deal is expected to add approximately $70 million in annual recurring revenue as the company scales its AI-focused operations.
IREN leads public Bitcoin miners with a projected $21.1 billion AI infrastructure funding gap, underscoring the capital-intensive nature of converting mining sites into data centers.
VanEck says investors are shifting focus from contract announcements to execution risk as miners chase AI revenue.
The acquisition adds about 490 megawatts of secured power in Spain as IREN expands beyond Bitcoin mining and builds its European AI cloud platform.
Nvidia’s planned bond sale reinforces booming AI infrastructure demand, strengthening the case for Bitcoin miners pivoting toward AI data centers.
Bitcoin’s latest difficulty adjustment gave miners some breathing room after a slower-than-usual period for the network.
Bitcoin mining difficulty has undergone its second-largest downward difficulty adjustment this year, following February’s 11% shift.
The founder of Capriole Investments has highlighted how Bitcoin is at the threshold of a zone that has historically provided the best long-term opportunities. Bitcoin Has Returned To Its Production Cost In a new post on X, Capriole Investments founder Charles Edwards has pointed out that Bitcoin is back at its Production Cost. The “Production Cost” here refers to an indicator that estimates the global average USD cost of producing one token of the cryptocurrency per day. Related Reading: Bitcoin Stablecoin Ratio Drops To Extreme Low—What It Means For BTC BTC uses a consensus mechanism called the proof-of-work (PoW) in which validators called miners compete against each other using computing power to gain the chance to add the next block to the chain. Today, the blockchain is so competitive that the average miner requires a ton of machines to have a shot at making revenue. Setting up mining farms can require a significant initial investment, but what determines whether the miner can earn an income is the cost required to keep these facilities running. A high amount of computing power is generally costly to run, with the main expense coming in the form of electricity bills. As the below chart shared by Edwards shows, the Bitcoin Production Cost is about $62,650 right now. This level is about where the spot price of Bitcoin also happens to currently be trading. Thus, if the estimate of the metric is anything to go by, miners are just breaking even on their operations. Following this development, BTC is now on the boundary of a zone that has been significant for the cryptocurrency in the past. “The best Long-term value opportunities have historically been between here and Electrical Cost, currently at $50K,” noted the analyst. The “Electrical Cost” here is the total cost that miners are paying for electricity alone. This level has served as a sort of lower boundary for Bitcoin over the various cycles. The Production Cost suggests that miners are under pressure at the moment. How are they reacting to this? An indicator that can be useful for following miner behavior is the Hashrate, tracking the total amount of computing power connected by these validators as a whole. Related Reading: XRP Could Offer Major Buying Opportunity At $0.90, Analyst Says According to data from CoinWarz, this metric has slumped recently. From the chart, it’s visible that the Bitcoin Hashrate currently has a value of about 837 exahashes per second (EH/s). During May, the indicator frequently touched the 1,000 EH/s mark, more than 19% higher than the latest level. Thus, it would appear that some of the miners have disconnected from the network in response to the bearish market. BTC Price At the time of writing, Bitcoin is trading around $62,400, down 9.5% over the past week. Featured image from Dall-E, chart from TradingView.com
Chun Wang, the first Mission Commander for SpaceX’s first commercial spaceflight to Mars, is crucial for the future transport of millions of tons of cargo and a million citizens to the Red Planet.
The bitcoin mining firm continues on its investment path into AI data centers after raising $115 million to expand its global footprint in the industry.