CleanSpark Buys 45,000 Bitmain Antminer S19 XPs for $144.9 Million

CleanSpark, a crypto miner, has announced the purchase of 45,000 Bitmain Antminer S19 XPs for $144.9 million, which will nearly double its current computing power. This is the latest in a series of acquisitions of distressed assets by the miner, which started in the summer of 2022. The acquisition announcement comes as bitcoin crossed $30,000 for the first time in nearly a year, which could reinvigorate the bitcoin mining space.

The 45,000 Antminers will add over 6.3 exahash/second (EH/s) of computing power to CleanSpark’s fleet of 6.7 EH/s, once delivered and installed. The first batch of 25,000 rigs will be ready for delivery in August from Bitmain, and the rest are scheduled for September. They will be installed at a site in Sandersville, Georgia, which CleanSpark acquired from Mawson Infrastructure (MIGI) in September.

CleanSpark aims to have 16 EH/s of computing power by the end of the year. It lowered its 2023 guidance in December 2022 from 22.4 EH/s, citing delays in construction by one of its partners, Lancium. Another 2.44 EH/s of machines that it acquired at a discount in February are expected to be online at a Washington state facility later in Q2.

“As bitcoin’s halving draws closer, our focus on operational efficiency, our technical expertise, and our treasury management strategy, will all play a crucial role in solidifying CleanSpark’s position among the top bitcoin mining companies in America,” said Zach Bradford, CEO of CleanSpark.

CleanSpark’s purchase of the Bitmain Antminer S19 XPs represents a significant investment in bitcoin mining infrastructure. The Antminers are known for their high hashrate and energy efficiency, making them popular among miners looking to increase their computing power while minimizing energy costs.

CleanSpark’s strategy of acquiring distressed assets has allowed the company to quickly expand its mining operations and increase its computing power. The company’s acquisition of the Sandersville site in Georgia, where the new Antminers will be installed, demonstrates its commitment to expanding its mining operations in the United States.

Bitcoin’s recent price increase could provide a significant boost to CleanSpark’s mining operations. As the price of bitcoin increases, so too does the reward for mining it. This could lead to increased demand for mining equipment and infrastructure, which would benefit CleanSpark and other mining companies.

CleanSpark’s focus on operational efficiency and technical expertise will be key to its success in the competitive bitcoin mining industry. By minimizing energy costs and maximizing computing power, the company can increase its profitability and solidify its position as one of the top bitcoin mining companies in America.

In conclusion, CleanSpark’s purchase of 45,000 Bitmain Antminer S19 XPs represents a significant investment in bitcoin mining infrastructure. The company’s strategy of acquiring distressed assets has allowed it to quickly expand its mining operations and increase its computing power. 


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Ethereum Upgrade Raises Concerns as Bitcoin Dominance Continues

Ethereum’s highly anticipated Shanghai upgrade, also known as the Shanghai-Capella hard fork, is set to occur on Wednesday. The upgrade will give users access to the $31 billion worth of ether (ETH) staked in the blockchain since December 2020. While the upgrade has been widely hailed as long-term bullish for Ethereum’s native token, Bitcoin’s dominance rate continues to rise, and concerns among investors have been raised about the potential sell-off of unlocked tokens following the upgrade.

Bitcoin’s dominance rate, which measures the largest cryptocurrency’s share of crypto’s total market valuation, rose to 48.5% early Tuesday, the highest since July 2021, according to data tracked by charting platform TradingView. The metric has risen by 15% this year. In contrast, Ethereum’s dominance rate remains stagnant between 19% and 20%, despite its upcoming upgrade.

The Shanghai upgrade will unlock more than 18 million ETH, of which only partial withdrawals of 1.1 million ETH, the coins earned as staking rewards, will be withdrawable immediately. The market is worried that the unlocking may bring about a sell-off, causing uncertainty in the market.

Investor caution in pricing ether ahead of Shanghai stems from several factors, including concerns about regulatory issues and flooding the market with unlocked tokens. Analysts have recently said that the partial withdrawals will take several days to process and the resulting selling pressure is unlikely to be significant.

Lucas Outumuro, head of research at IntoTheBlock, wrote in a note published on Friday that if all partial withdrawals are attempted just after the Shapella fork, it would take around four and a half days for these ETH profits to enter the market. According to Outumuro, full withdrawals representing most of the ETH staked will take longer, approximately 100 days, for one-third of validators to exit if they all attempt to exit simultaneously. This would make up about 1% of ETH’s daily trading volume, though it is unlikely that all withdrawals will be sold.

Despite this, the market remains unconvinced, as evident from ether’s underperformance relative to bitcoin and ether put options, or bearish bets, drawing higher prices than call options. Regulatory concerns are also weighing on investors, as the U.S. Securities and Exchange Commission alleged in February that Ethereum staking services offered by centralized exchanges amount to selling unregistered securities in the U.S.

Griffin Ardern, a volatility trader at crypto asset-management firm Blofin, noted that ETH faces relatively higher regulatory risks. The SEC has repeatedly stated that ETH is a security rather than a commodity, which differs from the CFTC’s opinion and means additional risk, so investors understandably prefer BTC.

Lastly, recent banking sector instability in the U.S. and the resulting sharp repricing of interest-rate expectations lower worldwide has benefited bitcoin. The cryptocurrency has evolved as a macro asset in the past three years and has a history of drawing safe-haven bids during banking crises.


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Winklevoss Twins Fund Gemini Amid Crypto Downturn

The Winklevoss twins, co-founders of Gemini, have reportedly loaned their own money to support the cryptocurrency exchange during a period of market downturn. This news comes amid increased scrutiny from regulators, with both the U.S. Securities and Exchange Commission and the New York Department of Financial Services investigating Gemini’s activities.

In January, the SEC charged Gemini and Genesis Global Capital with offering unregistered securities through the exchange’s Earn program. Additionally, the New York Department of Financial Services launched an investigation following reports that users claimed assets in their Earn accounts had been given FDIC protection.

Following the announcement of the charges, Tyler Winklevoss accused the SEC of issuing a “manufactured parking ticket,” claiming that Gemini staff had been in talks with the regulator for over a year prior to the enforcement action. This mirrors the complaint of Coinbase, another cryptocurrency exchange whose legal officer claimed that the company met with the SEC more than 30 times over nine months before receiving a Wells notice.

Despite these challenges, the Winklevoss twins remain committed to Gemini and have put their own money into the exchange to ensure its continued success. Gemini has a strong reputation in the cryptocurrency industry, and the twins’ decision to support the exchange during a difficult time is a testament to their dedication to the platform and its users.

Gemini was founded in 2014 and has since become one of the most popular cryptocurrency exchanges in the United States. The exchange is known for its robust security measures and commitment to regulatory compliance, making it a trusted platform for users seeking to buy and sell digital assets.

The Winklevoss twins are also well-known figures in the cryptocurrency world, having made headlines for their involvement in the early days of Bitcoin. The twins famously sued Facebook founder Mark Zuckerberg, claiming he stole their idea for a social networking site. They later used their settlement money to invest in Bitcoin, becoming early adopters of the cryptocurrency and building their fortune in the industry.

In addition to their work at Gemini, the Winklevoss twins are also involved in other cryptocurrency-related ventures, including the digital asset marketplace Nifty Gateway. Their continued involvement in the industry is a positive sign for the future of cryptocurrency, as their support helps to legitimize and strengthen the ecosystem as a whole.

In conclusion, the Winklevoss twins’ decision to fund Gemini with their own money demonstrates their commitment to the exchange and the broader cryptocurrency industry. Despite regulatory challenges and market downturns, the twins remain optimistic about the future of digital assets and are working to build a more robust and secure ecosystem for users.


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Alibaba Enters AI Race with Tongyi Qianwen Chatbot

Alibaba, the Chinese e-commerce giant, has announced its own version of a chatbot assistant, called Tongyi Qianwen. The new product is expected to be rolled out in the near future and will be integrated with Alibaba’s vast ecosystem of tech businesses, including the workplace messaging app, DingTalk, and the voice assistant smart speaker, Tmall Genie.

Tongyi Qianwen will be able to communicate in both English and Mandarin, and its initial task scope will include turning conversations into written notes, writing emails, and drafting business proposals. Alibaba’s new product draws comparisons to OpenAI’s ChatGPT, which was released in November 2022 and was later integrated into Microsoft’s internet browser, Bing.

Generative AI, like ChatGPT, has made global headlines due to its ability to provide sophisticated information responses in a casual chat-like manner, mimic different writing styles by command and ultimately help users create all kinds of texts, from academic research to movie scripts.

Notably, Google’s parent company, Alphabet, and Chinese tech behemoth, Baidu, have also announced their versions of AI chatbots, named Bard and Ernie, respectively.

Alibaba’s entry into the AI race with Tongyi Qianwen is significant as it further underscores the growing trend towards chatbots and AI assistants in the technology industry. However, the main intrigue surrounding Alibaba’s new product is whether Tongyi Qianwen could work on more creative tasks like its American counterpart, ChatGPT.

Moreover, Alibaba’s entry into the AI race also brings attention to the Cyberspace Administration of China’s guidelines for chatbot developers. According to article four of its guidelines, once made open for public feedback on April 11, such content should “reflect the core values of socialism, and must not contain subversion of state power.” The guidelines also require chatbot developers to ensure that AI-generated content is “accurate” and doesn’t “endanger security.”

In conclusion, Alibaba’s new product, Tongyi Qianwen, is another significant step in the AI race and highlights the growing trend towards chatbots and AI assistants in the technology industry. It will be interesting to see how Tongyi Qianwen compares to its American and Chinese counterparts in terms of functionality and creative capabilities. Additionally, as the use of AI and chatbots becomes more widespread, ensuring the accuracy and security of AI-generated content will continue to be an important issue for the technology industry and society as a whole.


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MetaMask Launches “Buy Crypto” Feature

Popular cryptocurrency wallet and supplier of decentralized applications MetaMask has introduced a new feature that enables users to purchase cryptocurrencies with fiat cash straight from inside its Portfolio Dapp. This new feature can be found on the MetaMask website. It is anticipated that the newly added “Buy Crypto” function would make it simpler for customers to acquire cryptocurrency using a variety of payment methods, including debit or credit cards, PayPal, bank transfers, and quick ACH.

This service is accessible to users in more than 189 countries and provides access to more than 90 tokens distributed over eight distinct networks. These networks include Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis, and Celo. Users of MetaMask may have access to this functionality by either connecting their wallets to the Portfolio Dapp or clicking on the “Buy” button in the MetaMask extension wallet. Alternatively, users can click here.

After the user has gained access to the functionality, they will have the option to pick their area, payment method, the token, and the network on which they want to make a purchase. When generating a personalized price estimate for each transaction, the function takes into consideration a number of criteria, including the location of the user as well as any applicable regional legislation. Following the user’s selection of a quotation, they will be sent to the website of a third-party service provider in order to complete the transaction. After that, the cash will be sent in an immediate manner into the user’s MetaMask wallet.

MetaMask has formed strategic alliances with a number of different companies throughout the course of its existence in order to bring new users into its platform. In 2022, MetaMask entered into a partnership with PayPal to provide its customers with the ability to buy and transfer ether (ETH) via PayPal’s website. customers are able to acquire Ethereum with PayPal and then transfer it to their MetaMask wallet by entering into their Mobile MetaMask app, which then takes them to their PayPal account to complete the transaction. This service is available to customers worldwide.

On March 21, 2019, MetaMask made a recent announcement about a new connection with the cryptocurrency financial firm MoonPay. This connection makes it possible for users in Nigeria to acquire cryptocurrencies via quick bank transfers, and it is accessible through both the mobile version of MetaMask and the Portfolio DApp. Without having to use a credit card or debit card, this function makes it possible to purchase cryptocurrency in a quicker and more cost-effective manner.

It is anticipated that the release of this new “Buy Crypto” function by MetaMask will be a game-changer in the cryptocurrency industry. This new tool will provide users with an easier way to acquire bitcoins utilizing a variety of payment methods. In addition, this function considers a number of parameters, such as the location of the user and the legislation in effect in the user’s area, in order to provide a unique price estimate for each transaction. As a result of this action by MetaMask, it is anticipated that additional users will be onboarded to its platform, which will contribute to an increase in the worldwide usage of cryptocurrencies.


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Bitcoin Surpasses $30,000 Mark, Reaches New High in 2023

Bitcoin has been making headlines once again as it surpasses the $30,000 mark, setting a new high for 2023. According to data from CoinGecko, Bitcoin has risen to almost $30,200, a price it has not reached since June 10, 2022. The surge in price is a welcome development for the cryptocurrency market, which has been facing uncertainty over the past year.

In the last 30 days, Bitcoin has recorded gains of nearly 46%, rising to its highest level in ten months on April 11. Experts predict that its price will continue to rise as traders await the United States Consumer Price Index (CPI) report on April 12. The report will provide insight into the Federal Reserve’s efforts to control inflation, and its findings could potentially impact the cryptocurrency market.

The Crypto Fear and Greed Index, which aims to numerically present the current “emotions and sentiments” toward Bitcoin and the cryptocurrency market, has been firmly within the “Greed” territory since last week. Its latest update on April 11 showed a score of 68 out of a possible total of 100, indicating a strong optimism in the market.

The Crypto Fear and Greed Index reached a score of 68 on March 21, marking its highest level since November 16, 2021, just days after Bitcoin’s all-time high of over $69,000 was recorded on November 10, 2021. The index’s continued high scores suggest that the market is bullish about the future of Bitcoin and the wider cryptocurrency market.

Michael Saylor, the founder and executive chairman of business intelligence firm MicroStrategy, has been one of Bitcoin’s most outspoken advocates. He has been leading the charge for corporations to adopt cryptocurrency as a strategic asset, and his efforts have not gone unnoticed. MicroStrategy has added billions worth of Bitcoin to its balance sheet, currently owning 140,000 BTC as of April 5 for a total purchase price of $4.17 billion.

MicroStrategy’s investment in Bitcoin has been profitable, with an average price of roughly $29,803 per coin. The latest price surge means that MicroStrategy has made a gain on its investment, providing further evidence of the cryptocurrency’s long-term potential as a store of value.

MicroStrategy has been steadily increasing its BTC holdings since its first purchase in August 2020, even with the ongoing crypto bear market. Its commitment to Bitcoin and the wider cryptocurrency market has inspired other companies to consider investing in digital assets as a strategic asset.

In conclusion, Bitcoin’s recent price surge is a positive development for the cryptocurrency market, providing renewed optimism for investors and traders. With the United States Consumer Price Index report just around the corner, experts anticipate further growth in the cryptocurrency market, particularly for Bitcoin. As companies like MicroStrategy continue to invest in Bitcoin, the cryptocurrency’s long-term potential as a store of value becomes increasingly apparent.


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Microstrategy’s Bitcoin Investment Turns Green Again

Fortune 500 company Microstrategy’s investment in Bitcoin has once again turned profitable as the leading cryptocurrency hit a new 10-month high of $30,163. The firm started investing in Bitcoin in the second quarter of 2020 when the BTC price was trading around $10,000. Since then, it has made a series of BTC purchases over a period of two years and accumulated a total of 140,000 BTC for nearly $4.17 billion at an average price of $29,803 per BTC.

Microstrategy co-founder Michael Saylor introduced the Bitcoin strategy as a treasury hedging asset over the US dollars, and the firm has held BTC both personally and on its balance sheet. Saylor also convinced several public companies, including Tesla and SpaceX, to accumulate BTC on their balance sheets.

The Bitcoin bet made by Microstrategy looked lucrative throughout the bull market in 2021, with the BTC price hitting an all-time high of nearly $65,000 in April 2021. However, the prolonged crypto winter in 2022 fueled by multiple crypto contagions crashed BTC price by over 70%, resulting in a loss for Microstrategy’s Bitcoin investment.

Critics of Microstrategy’s Bitcoin investment were quick to point out the losses incurred during the bear market in 2022. However, the BTC price has shown strength throughout 2023, with a 55% increase in the first quarter of the year. The price has closed above the previous month’s high for three months in a row, considered to be a bullish market indicator and a sign of another bull run on the horizon.

Bitcoin has outperformed most traditional stocks and bonds this year and has even eclipsed the losses incurred from the crypto contagions caused by FTX and Terra-Luna saga. The resilience of Bitcoin and its increasing adoption by public companies like Microstrategy and Tesla is a testament to the growing importance of cryptocurrencies in the global financial ecosystem.

Background information on Microstrategy’s Bitcoin investment strategy:

Microstrategy’s investment in Bitcoin is unique and unconventional, given that it is a business intelligence firm and not a financial institution. However, the company’s CEO, Michael Saylor, is a vocal proponent of Bitcoin and believes that it has the potential to replace fiat currency in the long term.

Saylor introduced the Bitcoin strategy as a treasury hedging asset over the US dollars, which are subject to inflation and depreciation. By holding BTC on its balance sheet, Microstrategy can protect its treasury against the devaluation of fiat currency and earn higher returns on its investment.

The company’s Bitcoin investment has attracted criticism from some analysts who view it as a risky bet that could potentially harm the firm’s financial health. However, Saylor has defended the strategy, stating that Bitcoin is a store of value that has appreciated over time and that the company’s long-term investment horizon mitigates short-term price fluctuations.

Microstrategy’s Bitcoin investment has also inspired several other public companies to add BTC to their balance sheets, including Tesla, Square, and Marathon Digital Holdings. 


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Jelurida and Aumenta Solutions Develop Blockchain-based Maintenance System for Ports

Jelurida, a company that specializes in the provision of blockchain solutions, has formed a partnership with the augmented reality (AR) company Aumenta Solutions in order to create a whole new maintenance system for port facilities. Increasing the real-time traceability of maintenance activities is the goal of this technology, which blends blockchain certification with augmented reality (AR).

The team at Aumenta Solutions has experience working on projects similar to this one in the past. In the year 2020, the company worked on a system quite similar to this one in conjunction with the University of Girona. On the other hand, the purpose of this most recent initiative is to use the blockchain-based maintenance technology to compete in the worldwide port infrastructure market.

The managing partner of Aumenta Solutions, Pere Roset, has said that the certification program is an essential component of the overall project. This program guarantees that maintenance chores are carried out in the appropriate manner at the appropriate time and in the appropriate area.

Francisco Sarrias, who refers to augmented reality as a “game-changer,” brings to light the significance of using it for the purpose of maintenance. Workers are able to access digital information in real time thanks to augmented reality technology, which contributes to an improvement in productivity and a decrease in the chance of mistakes.

Together with Aumenta Solutions, Jelurida is thrilled to bring this innovative new technology to the market, where it will hopefully contribute to the acceleration of innovation in maintenance procedures. This most recent experiment demonstrates that augmented reality (AR) and blockchain technology are increasingly being utilized in combination with one another, as can be observed inside the Web3 sector.

AR technology was recently used during the Metaverse Fashion Week event, which took place at the Piazza of Duomo di Milano in Milan, Italy. This event was related to the Web3 area. At one of Milan’s most recognizable landmarks, an augmented reality hybrid fashion show was staged.

In the meanwhile, the liquor company Jack Daniels has initiated a Web3 campaign that makes use of augmented reality (AR) and digital collectibles based on polygons. Participants have the opportunity to earn digital crates, which may include a variety of incentives such as gift cards and tours to the Jack Daniel’s distillery.

In summing up, the introduction of Jelurida and Aumenta Solutions’ brand new blockchain-based maintenance system for ports is an intriguing step forward for the sector. This demonstrates the emerging trend of combining augmented reality (AR) with blockchain technology, which has the potential to transform current maintenance procedures in the future. In addition, the application of augmented reality (AR) technology is growing inside the Web3 domain, which demonstrates the potential for this technology to alter a variety of different businesses.


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US SEC Hiring Attorneys for Crypto Assets and Cyber Unit

Regulators in the United States have been ramping up their efforts to regulate the crypto space, and the latest move from the U.S Securities and Exchange Commission (SEC) is no exception. The SEC has announced that it is seeking to hire general attorneys for its Crypto Assets and Cyber Unit in the Division of Enforcement. This unit is responsible for enforcing laws and regulations governing the use of crypto assets and cyber issues.

The job posting, which is available on the official government website, states that the successful candidates will be responsible for conducting “complex, fast-moving investigations” involving crypto asset securities and cyber issues. They will also be required to draft subpoenas or document requests, question witnesses through interviews, evaluate evidence and more.

This announcement comes shortly after the SEC’s chairman, Gary Gensler, asked for nearly $2.4 billion in funding to help the agency chase down crypto “misconduct” on March 29. This move highlights the regulatory pressure that the crypto community has been facing in the United States over the last year.

The crackdown on the crypto industry by US regulators has been ongoing, with local regulators planning to introduce new taxes directed towards the industry. Some industry insiders are concerned that these and other regulations could “choke” the industry and prevent much-needed innovation.

The Beaxy cryptocurrency exchange recently shut down after the SEC filed multiple charges against the company’s founder. Japan-based decentralized autonomous organization (DAO) Sushi is also facing a subpoena from the SEC. These actions demonstrate the SEC’s commitment to enforcing regulations governing the use of crypto assets.

However, not everyone in positions of regulatory authority is on board with the SEC’s approach. Congressman Tom Emmer has called Gensler a “bad faith regulator” and questioned his methods of industry oversight. Emmer’s comments highlight the ongoing debate about the appropriate level of regulation for the crypto industry.

In conclusion, the SEC’s move to hire general attorneys for its Crypto Assets and Cyber Unit in the Division of Enforcement is a clear sign that the agency is taking the regulation of the crypto industry seriously. This move follows a string of regulatory actions against crypto companies, and the ongoing debate about the appropriate level of regulation is likely to continue. The future of the crypto industry in the United States remains uncertain, but it is clear that regulators are not backing down from their efforts to enforce the law.


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PureFi Introduces SafeTransact to Enhance Web3 Security

The Web3 technology has fundamentally altered the manner in which financial exchanges are carried out by removing the need for middlemen while also enabling decentralized and protected peer-to-peer transactions. Despite this, Web3 comes with its own set of unique security issues and concerns, such as the possibility of hacking attacks to blockchain networks. Web 3 security businesses are continually inventing and creating new methods to safeguard Web 3 transactions in order to overcome the problems that have been outlined above.

SafeTransact is a brand new approach that has been proposed by PureFi, a decentralized finance (DeFi) protocol for cryptocurrency onboarding. Its purpose is to increase the level of security that Web3 transactions have. In order to offer an extra degree of security that is focused on prevention, SafeTransact analyzes blockchain transactions and immediately warns users of any questionable behaviors that it discovers. This solution was developed with the intention of integrating with AMLSafe, which is a multi-crypto wallet that is part of the same ecosystem.

In order to determine the level of risk associated with permitted transactions, the SafeTransact system evaluates a number of characteristics, including the token address, sender address, spender address, and amount. The risk levels associated with token transfer transactions are determined by the system after conducting an analysis of the input data, which includes addresses for “from,” “to,” and “amount.” For the purpose of providing a thorough risk assessment, it examines decentralized exchange addresses, the senders of funds, the tokens that come into and leave the exchange, and the quantities that are transmitted.

Because of the proliferation of DeFi and Web3, security has emerged as one of the most important concerns. The necessity for increased security measures was brought to light by a research that was recently published by Chainalysis. The analysis found that the DeFi sector was the one that saw the most attacks and data breaches in 2022. Audits of Web3 apps are carried out by security organizations in order to discover possible vulnerabilities and hazards. In addition, these businesses offer blockchain-specific security solutions that may assist in the detection and prevention of attacks on blockchain networks.

Enhancing Web3’s level of security has been made easier thanks to the SafeTransact technology. It is possible to reduce the risk of potential hackers and data breaches by conducting an analysis of blockchain transactions and identifying suspicious behaviors. Additionally, the connection with AMLSafe offers an extra layer of protection, making it possible to confirm that all financial dealings are in accordance with the anti-money laundering legislation.

In conclusion, Web3 security businesses play a crucial part in assuring the safety of blockchain-based platforms and apps by providing a range of services. Because of the one-of-a-kind problems and dangers that are related with blockchain-based transactions, security organizations are constantly researching and implementing novel strategies in order to secure Web3 transactions. The incorporation of SafeTransact into the global crypto security arsenal by PureFi is a step in the right direction and exemplifies the efforts that are still being made to make Web3 more secure.


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Bitcoin (BTC) $ 43,967.78 0.33%
Ethereum (ETH) $ 2,360.11 1.91%
Litecoin (LTC) $ 76.44 3.44%
Bitcoin Cash (BCH) $ 249.03 0.95%