Houston, TX 04/03/2024 – Genesis Digital Assets Limited (“GDA”), one of the world’s largest bitcoin mining companies in terms of hash rate, is pleased to announce a strategic hosting arrangement entered into with Lonestar Dream, Inc (“Lonestar Dream”). The hosting arrangement provides that GDA will have access to approximately 36 MW of total power capacity at the data center known as Tarbush in West Texas. In partnership with Lonestar Dream, GDA has added approximately 1 EH/s to its total hashrate capacity.

This site marks GDA’s 6th facility in Texas in the last few years. Texas’ wealth of renewable energy and a flexible power grid has played a pivotal role in the…

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Sam Bankman-Fried (SBF), the once-celebrated founder and CEO of digital asset exchange FTX, has been sentenced to 25 years in prison for his involvement in what has been termed as one of the largest financial frauds in American history. The Sam Bankman-Fried sentence has sent shockwaves through the community and raised questions about accountability in the burgeoning digital asset industry. SBF’s transformation from admired entrepreneur to convicted felon is examined through his expressions of remorse, legal challenges, and the effects on FTX customers.

From Digital Assets King to Convicted Felon

Bankman-Fried’s rise to prominence in the digital asset world was swift, with FTX gaining…

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March was a remarkable period for spot bitcoin Exchange-Traded Funds (ETFs), with trading volume reaching an impressive $111 billion, nearly tripling the figures from February. This surge in bitcoin spot ETFs volume reflects a growing interest in these relatively new financial instruments within the digital asset market.

Eric Balchunas, a senior ETF analyst at Bloomberg, shared the significance of March’s trading volume on social media platform X, calling it “March Madness.” He noted that it was almost triple the combined volume of January and February. 

However, the analyst remained cautious about predicting future trends, stating:

“I can’t imagine April will be bigger, but who…

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Today, one of the largest bitcoin mining companies in the world in terms of hash rate, Genesis Digital Assets (GDA), announced that it will gain access to 36 MW of power from the Tarbush data center in West Texas, adding 1 EH/s to its total hash rate capacity.

GDA, which was founded in 2013 and operates 19 mining facilities across North America, Europe and Central Asia, has entered into a strategic hosting arrangement with Lonestar Dream, developer of immersion cooling systems for bitcoin mining devices, to run the Tarbush operation.

“This hosting agreement is an important milestone for us as we continue expansion in the West Texas region,” said Andrey Kim, CEO of GDA in a press…

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Bitcoin miners have recently hit a significant milestone, breaking records with their highest-ever monthly revenue. This surge in bitcoin miners revenue comes just ahead of the anticipated halving event, which could pose challenges for miners in the near future.

Monthly bitcoin miners revenue hit an all-time high of over $2 billion in March — SourceRecord-Breaking Bitcoin Miners Revenue

In March, bitcoin miners collectively earned a staggering $2 billion in revenue, a total of $1.93 billion was generated from the block subsidy, alongside an additional $85.81 million derived from transaction fees, marking a historic high for the industry.

This figure, including earnings from both block…

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Renowned trader Peter Brandt shakes the cryptocurrency world, declaring Bitcoin as the future king over gold. With a simple chart, Brandt shows gold’s value dropping from 740 BTC to just 0.0352 BTC over 12 years, bolstering his belief in Bitcoin’s long-term rule. However, ETF expert Eric Balchunas offers a counterpoint, noting a recent surge in gold’s popularity. This shift, contrasting with Bitcoin’s challenges, suggests investors might be looking back towards the traditional safe haven of gold, even as Bitcoin faces short-term setbacks.

The ongoing debate sets the stage for a riveting battle between the digital and the traditional. While Brandt’s analysis predicts Bitcoin’s dominance, Balchunas’ insights hint at a more complex market dynamics, with gold gaining ground amidst Bitcoin’s fluctuating fortunes. This clash of titans, underscored by the dramatic 54-day inflow streak into Bitcoin ETFs facing a potential reversal, highlights the evolving landscape of investment preferences between the two assets.

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$1M – $10M MarketCap:

1. SOMESING Exchange (SSX): 63%
2. Honk (HONK): 33%
3. Work X (WORK): 18%
4. Evadore (EVA): 16%
5. Friend3 (F3): 16%

$10M – $100M MarketCap:

1. Choise.com (CHO): 63%
2. Klima DAO (KLIMA): 49%
3. GameGPT (DUEL): 46%
4. Doland Tremp (TREMP): 37%
5. Script Network (SCPT): 35%

$100M – $1B MarketCap:

1. Verge (XVG): 50%
2. jeo Boden (BODEN): 47%
3. cat in a dogs world (MEW): 41%
4. PepeFork (PORK): 33%
5. World Mobile Token (WMT): 32%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Asher Genoot, CEO of Hut 8 Mining, predicts the upcoming Bitcoin halving will profoundly affect the mining landscape, stressing the necessity for miners to become efficient in cost management. During a Bloomberg interview, he outlined Hut 8’s preparedness, boasting a strong balance sheet with a significant Bitcoin reserve of roughly 9,100 BTC, equivalent to $600 million. This strategy underscores a shift from debt-financed growth to equity-driven expansions to lower the risk of bankruptcy. The industry, according to Genoot, is moving towards fewer bankruptcies and more mergers and acquisitions, as companies aim for sustainability and market leadership.

With the Bitcoin halving set around April 18, miner rewards will halve, potentially impacting Bitcoin prices and miner profitability. However, the advent of institutional investments and strategic industry planning may counteract the usual post-halving downturn. Large-scale miners like Hut 8 are gearing up for the change, indicating a possibly smoother transition and setting the groundwork for future market upturns.

Bloomberg