The closure of a Bitcoin mining facility in the Norwegian town of Hadsel has led to a 20% increase in electricity bills for residents. The mine was shut down after the municipality declined to renew its permit due to noise complaints.

Kryptovault operated the mining facility for 20% of local power company Noranett’s revenue. With the loss of its largest customer, Noranett is raising prices for households to compensate.

Locals had complained for years about noise from the mine’s cooling fans. However, due to the closure, residents are now faced with paying several hundred dollars more per year for electricity.

“When such a large individual customer switches off overnight, it has an impact,”…

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Digital asset investments experienced a significant turnaround, with inflows hitting $436 million after previous outflows of $1.2 billion. This resurgence, spurred by anticipated interest rate cuts hinted by ex-NY Fed President Bill Dudley, marks a shift in investor sentiment. The US led with inflows of $416 million, complemented by substantial investments in Switzerland and Germany, though Canada saw a slight retreat.

Bitcoin dominated the week’s inflows, recouping with $436 million after a series of declines totaling $1.18 billion over 10 days. Conversely, Ethereum faced setbacks, losing $19 million amidst ongoing concerns about its underlying technology’s profitability. Notably, Solana bucked the trend, welcoming a fourth consecutive week of inflows.

Further boosting the sector, blockchain equities garnered $105 million, energized by the launch of new ETFs within the US market. Trading volumes for ETFs remained stable at $8 billion, although this is below the year’s average. This financial rejuvenation reflects a growing confidence in digital currencies as a viable investment amidst evolving economic forecasts.

Source

BlackRock’s IBIT leads in holdings with a substantial 357,277 BTC, though it saw a net outflow of 232 BTC. Not far behind, Grayscale’s GBTC holds 222,207 BTC with a more considerable outflow of 1,945 BTC. Conversely, Fidelity’s FBTC added 415 BTC, totaling 173,133 BTC.

ARK Invest’s ARKB and Valkyrie’s BRRR experienced mixed results, with ARKB seeing a decrease of 424 BTC and Valkyrie an outflow of 85 BTC. In contrast, Grayscale’s second fund listed as BTC had an inflow of 446 BTC, increasing its total to 32,988 BTC. Notably, Bitwise’s BITB and Franklin Templeton’s EZBC reported positive inflows of 158 BTC and 56 BTC, respectively.

In summary, the total Bitcoin holdings across these ETFs stood at 898,852 BTC, marking a net outflow of 1,611 BTC. This movement reflects varying investor sentiments and strategies in the dynamic landscape of cryptocurrency investments.

Disclaimer: Market capitalizations and data 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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Crypto-natives and fans of Detroit rapper Big Sean flocked to the Lager House, just outside of downtown Detroit, for the third stop of the America Loves Crypto Tour. The event provided both an evening of live entertainment and a call to action to get out the crypto vote in the upcoming 2024 elections following previous stops in Arizona and Nevada.

Michigan is considered a battleground state, and the Stand With Crypto Alliance sees the state’s 940,000 bi-partisan Bitcoin and crypto owners — 25,000 of which are Stand With Crypto members — as potentially crucial for the upcoming presidential election. The 2020 election’s margin within Michigan was only about 156,000 voters, which…

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