Hyperscale Data (DAT), a U.S.-listed company known for its Bitcoin accumulation strategy, has sold 685 $BTC, raising approximately $43 million in cash. The proceeds are earmarked for the development of a data center in Michigan, debt and capital management, and other strategic business initiatives, according to a company statement. Strategic Shift: From Bitcoin Accumulation to
Norway’s sovereign wealth fund, the world’s largest, now holds indirect exposure to approximately 11,549 Bitcoin, according to a report by The Block, citing research from K33 Research. The figure, which covers the first half of this year, marks a significant increase of over 60% compared to the same period last year, driven largely by the
South Korea’s KOSPI extended one of the sharpest turnarounds in global equities on Friday, briefly reclaiming 7,000 as cooling US inflation encouraged investors to pile back into the chipmakers that drove July’s brutal sell-off. The benchmark opened 2.7% higher at 6,995.67 and briefly touched 7,010.86, its first move above 7,000 since July 24. Samsung Electronics
Reddit shares climbed nearly 13% in extended trading on Friday after S&P Dow Jones Indices announced that the social media platform will join the S&P 500, marking a significant milestone for the company less than two years after its public listing. The company will enter the benchmark index on Aug. 18, replacing AvalonBay Communities. According
Bitcoin miners are surprisingly resilient despite the $BTC trading below its $76,500 average production cost. At press time, $BTC traded at $63,300, around 17% below its average mining cost. In other words, it’s relatively expensive to mine $BTC at current prices. On top of higher production costs, daily miner revenue (block subsidy plus transaction fees)
Bitcoin price is trading near $63,000 after repeated failures above $65,000, with US spot Bitcoin ETF outflows and weakening short-term price action keeping $BTC under pressure. According to SoSoValue data, US spot Bitcoin ETFs recorded about $131 million in net outflows on August 13, extending a run of withdrawals that has reduced one of Bitcoin’s
Jeff Park: Bitcoin Will Ultimately Benefit From the Rise of AI While reports have established an inversely proportional relationship between artificial intelligence (AI) and crypto, meaning that investors have been withdrawing funds from crypto and piling them up behind AI stocks, including chip makers and software companies, some are betting on the resilience of crypto.
Wall Street isn’t waiting around! Despite the CLARITY Act being stalled until September, the bigger hands are moving ahead with their crypto ambitions. Here’s the breakdown. NASDAQ files for standardised crypto ETF listings Nasdaq is asking the SEC to make it easier to launch options on crypto-backed ETFs. Under the proposed rule change, certain ETFs