Bitcoin

Bitcoin Miners Embrace AI as Mining Revenues Tank 50% in May
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Bitcoin Miners Embrace AI as Mining Revenues Tank 50% in May

Bitcoin miners are increasingly turning to artificial intelligence (AI) for additional revenue streams. On Monday, Core Scientific signed a 12-year deal with cloud AI firm CoreWeave to host the company’s high-performance computing (HPC) operations. This partnership builds on a previous agreement from 2019 between Core Scientific and the Nvidia-backed AI company. Under this arrangement, the...

Goldman Sachs Calls Spot Bitcoin ETF Approval a ‘Psychological Turning Point’
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Goldman Sachs Calls Spot Bitcoin ETF Approval a ‘Psychological Turning Point’

The recent approval of Spot Bitcoin ETFs has been described by Goldman Sachs as a significant psychological milestone for the digital asset market. According to Matthew McDermott, Goldman Sachs’ global head of crypto, this approval has revitalized the market, drawing considerable interest from institutional investors. The U.S. Securities and Exchange Commission’s (SEC) unexpected approval of...

Argentina Studies Bitcoin Adoption from El Salvador
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Argentina Studies Bitcoin Adoption from El Salvador

Argentina’s National Securities Commission (CNV) is turning to El Salvador for insights on Bitcoin adoption. Over the weekend, CNV confirmed discussions with Salvadoran regulators, exploring how to integrate Bitcoin into Argentina’s financial system. In 2021, El Salvador made headlines by adopting Bitcoin as legal tender alongside the U.S. dollar. This move has positioned the nation...

Spot Bitcoin ETFs reach $303M in Net Inflows
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Spot Bitcoin ETFs reach $303M in Net Inflows

US spot Bitcoin ETFs attracted a combined $303 million in net inflows on May 15, signaling growing institutional interest in Bitcoin. Leading this surge was Fidelity’s ETF, which secured $131 million in net inflows, according to SoSo Value data. Bitwise and Grayscale followed with $86.26 million and $27.05 million, respectively. Surprisingly, the iShares Bitcoin Trust...

Bitcoin Surpasses $66,000 amid CPI Data Release
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Bitcoin Surpasses $66,000 amid CPI Data Release

Bitcoin (BTC) has surged over 6%, surpassing $66,000 following the release of the US Consumer Price Index (CPI) data on May 15. Currently, BTC is trading at $65,780 with a market cap of $1.295 trillion. This price increase is seen as a significant breakout above the $64,000 resistance level, potentially setting the stage for further...

Bitcoin Transaction Fees Stabilize After Surging Post-Halving
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Bitcoin Transaction Fees Stabilize After Surging Post-Halving

In a significant turn of events, Bitcoin transaction fees have plummeted from a staggering $146 to just over $10 for medium-priority transactions, following the recent halving event that typically influences both transaction costs and miner earnings. Just last week, Bitcoin users experienced a sharp increase in transaction fees, with medium-priority transactions costing upwards of $146...

Hong Kong Set to Approve First Bitcoin and Ethereum ETFs
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Hong Kong Set to Approve First Bitcoin and Ethereum ETFs

Hong Kong regulators are reportedly on the brink of approving the first Bitcoin and Ethereum exchange-traded funds (ETFs) in Asia, with an announcement expected by April 15. This pioneering move could position Hong Kong as the inaugural Asian market with operational Bitcoin and Ethereum ETFs. Sources close to Bloomberg suggest that an international branch of...

Bitcoin Slumps as March US CPI Data Surpasses Expectations
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Bitcoin Slumps as March US CPI Data Surpasses Expectations

Bitcoin prices tumbled following the release of the U.S. Consumer Price Index (CPI) data for March, which revealed a hotter-than-expected inflation rate of 3.5%. This figure exceeded the forecasts of 3.4% and outpaced the previous month’s rate of 3.2%, signaling persistent inflationary pressures in the economy. The data, issued by the U.S. Bureau of Labor...

Mixed Signals in Bitcoin ETF Market Amidst Grayscale’s Record Outflows
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Mixed Signals in Bitcoin ETF Market Amidst Grayscale’s Record Outflows

The landscape of Bitcoin ETFs in the US is witnessing a paradox of flows, with the recent market activities reflecting a mixed sentiment among investors. After a sequence of inflows, the Bitcoin ETF market encountered a significant net outflow, primarily attributed to a massive withdrawal from Grayscale’s GBTC fund, which saw a record outflow of...

China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF
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China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF

In a bold stride towards embracing cryptocurrency, the Hong Kong subsidiaries of leading fund companies, including Southern Fund and Harvest Fund, are spearheading the development of Bitcoin exchange-traded funds (ETFs). A recent report highlights the submission of a spot Bitcoin ETF application to the Hong Kong Securities Regulatory Commission by Harvest Fund, marking a significant...