Author: NBTC

Genesis Digital Assets Limited (GDA) has embarked on a new project in Norsjö, Sweden, utilizing surplus heat from one of its bitcoin mining data centers to warm a local garage. This collaboration with Swedish company Muttern Fastigheter showcases an innovative approach to enhancing energy efficiency within the industry. GDA and Muttern Fastigheter Collaborate on Sustainable Heating Solution in Sweden GDA, which operates 20 data centers with 600 megawatts (MW) of hashpower and over 180,000 mining rigs, has partnered with Muttern Fastigheter to launch a heating initiative. This project redirects waste heat from GDA’s data center operations to provide 90,000 cubic…

As the cryptocurrency market navigates a period of uncertainty, MicroStrategy chairman and CEO Michael Saylor has issued a crucial tip: “Buy Bitcoin before you need it.” This tip comes at a time when the Bitcoin price is facing uncertainty, falling to lows last seen in over a month. Bitcoin has fallen for two weeks in a row, shedding as much as 8% to reach a low of $58,414 on Monday, the worst intraday drop since April 13. ₿uy #Bitcoin before you need it. pic.twitter.com/NefBSqMlTI — Michael Saylor⚡️ (@saylor) June 24, 2024 Bitcoin has been buffeted by two weeks of outflows…

After yesterday’s market downturn, an entity named ‘7 Siblings’ bought 56,093 Ethereum ($ETH) worth $129 million while most crypto traders started selling their crypto assets in panic. Due to the crypto market crash, many crypto traders started selling their crypto assets to avoid major losses while few saw it as the best buying opportunity. 7 Siblings found this downturn the best chance to invest in Ethereum and bought 56,093 $ETH when its price dropped below $2,600. While you guys were panic selling due to the market crash, the entity”7 Siblings” with $1.57B assets quietly bought 56,093 $ETH($129M) at the bottom!7…

Many U.S.-based crypto mining stocks are reflecting Bitcoin’s weakness and are trading down to end the week. At the time of writing, Hut 8 is down 11.2% to $12.34 a share. CleanSpark is now $13.35 a share, down 11.35%, while Riot Platforms is at $8.50, down 8.8%. Marathon Digital Holdings is down 3.3% to $17.48. Marathon did disclose in its Q2 financial report that it sold over 50% of the Bitcoin (BTC) it mined during the quarter to fund operating costs. The recent drop in stock prices comes as the Nasdaq and Dow Jones Industrial Average are experiencing a downturn.…

South Africa approved 138 CASPs, yet unclear tax rules leave crypto traders struggling with compliance issues. Know-your-customer processes expose crypto trades to SARS data collection, affecting past and present transactions. The complex tax status for crypto assets in South Africa complicates compliance for short-term traders and long-term holders. South Africa is experiencing changes in its cryptocurrency. Thomas Lobban, a senior tax and legal associate at Latita Africa, highlighted the challenges that crypto traders face regarding tax implications. Despite the Financial Sector Conduct Authority (FSCA) approving the license applications of 63 additional crypto asset service providers (CASPs), bringing the total to…

Bitcoin miner Core Scientific will expand its high-performance computing (HPC) infrastructure by 112 megawatts (MW) to a total of 382 MW to host CoreWeave’s NVIDIA graphics processing units (GPUs), according to an Aug. 6 statement. The company stated that this deal will add $2 billion in revenue over 12 years, on top of the $4.7 billion expected from existing agreements. Core Scientifc’s shares rose more than 18% following the announcement and were trading at $9.74 as of press time, based on Yahoo Finance data. Additional infrastructure Core Scientific stated that CoreWeave can access another 118 MW of infrastructure at other…

Mastercard integrates with Pera Wallet on Algorand, enabling seamless on-chain transactions via Immersve. Algorand’s instant finality tech reduces transaction costs and risks, enhancing the user experience for Pera Wallet users. Algorand’s R&D team supports Mastercard-Pera Wallet integration, showcasing its capability in large-scale financial transactions. In a positive development for the Algorand ecosystem, Mastercard is set to integrate with Pera Wallet, enabling seamless, on-chain transactions through a collaboration with Immersve. This announcement was made by Algorand Foundation CTO John Alan Woods at Decipher2024. Mastercard is coming to @PeraAlgoWallet.Through @immersve, soon you’ll be able to tap a phone to make purchases with…

IntoTheBlock on-chain data aggregator has reported that while the cryptocurrency market has been hit by massive FUD, the largest Bitcoin whales continue to accumulate the world’s flagship digital currency no matter what. This has happened while other large whales are dumping large amounts of BTC. Largest whales scoop up half billion in Bitcoin According to a recent statement made by IntoTheBlock, the number of Bitcoin’s largest wallets has surged to the highest peak since May this year. These wallets in total hold 0.1% of the total Bitcoin supply. On Monday, they accumulated another 7,130 BTC, which is worth $436 million.…

Bank of America estimates that the FED will cut interest rates by 25 basis points in September and make an additional rate cut in December. The Bank’s revised outlook marks a change from its previous expectation that interest rates would be cut only in December. Wasif Latif, president and chief investment officer of Sarmaya Partners, commented on the US July non-farm payrolls data and described the current market reaction as a “growth panic”. Latif suggested that the market has noticed a slowdown in economic growth and that the FED may face pressure to reduce interest rates as soon as possible.…

The Zcash crypto community has approved a proposal to allocate 20% of block rewards to a new decentralized grants system, aiming to enhance development initiatives across the ecosystem. This decision follows a poll conducted among the Zcash Community Advisory Panel, focusing on the future of the Zcash Development Fund, which is set to expire in November. According to a Monday blog announcement from the Zcash Foundation, the favored proposal, the “Lockbox for Decentralized Grants Allocation,” received 14% “strongly approve” and 34% “approve” votes, securing a cumulative approval of 63%, significantly outpacing other options. Vote results of Zcash funding proposals |…