Greenidge Generation Holdings Inc. has broadened its bitcoin mining operations by opening a new site in Mississippi on July 1, 2024. Featuring 2,400 bitcoin miners, this facility is part of the company’s plan to increase its operational footprint. Greenidge has equipped the new site with its cutting-edge Greenidge Pod X infrastructure, which boasts an 8.5 MW power capacity set to expand by an additional 25 MW within the year.

According to company statements, the newly launched Greenidge Pod X plays a crucial role by optimizing equipment temperatures, thus enhancing uptime and longevity. This innovation not only advances Greenidge’s capabilities but also solidifies its position as a leader in global large-scale mining solutions.

This strategic expansion includes acquiring and developing properties across the U.S. and Canada, where Greenidge now operates four facilities. The company’s total mining power capacity stands at 122 MW, with around 8,000 miners. “This marks a significant milestone in our growth trajectory,” commented CEO Jordan Kovler, emphasizing the pivotal role of their latest technology in long-term strategic growth.

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Coinbase reveals the emerging influence of crypto voters, poised to impact the 2024 U.S. presidential election significantly. With one in six crypto owners residing in seven key battleground states, their diverse, youthful demographic shows an eagerness to vote. Surveys indicate that 65% of crypto-owning registered voters are Gen Z and Millennials, and 40% live in swing states, underscoring their potential to sway crucial races.

These voters, characterized by a bipartisan stance, are 35% Democrats, 34% Republicans, and 31% open to persuasion. Their enthusiasm for pro-crypto candidates is clear, as they are four times more likely to support leaders favorable to cryptocurrency. This bipartisan group could be a decisive force in the election, with nine out of 10 crypto voters likely to cast their ballots.

The interest in crypto isn’t just limited to voters; presidential candidates are also tuning in. Former President Donald Trump and Democratic nominee Robert F. Kennedy Jr. have acknowledged the significance of the crypto community. With major nonpartisan groups like Stand With Crypto and Bitcoin Voter Project mobilizing support, the crypto vote is set to be a game changer this November.

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After weeks of market turbulence and anxiety within the crypto community, the German government is nearing the conclusion of its extensive Bitcoin selloff. In June, Germany held 50,000 BTC, valued at $2.8 billion, seized from the film piracy site Movie2k. Today, on-chain data from Arkham Intelligence indicates that only 4,925 BTC, or approximately $284 million, remain in government wallets. German officials have made significant transfers to exchanges and market makers, particularly on early Thursday, suggesting an accelerated selloff.

The government has directed billions of dollars in Bitcoin to major crypto exchanges like Kraken, Coinbase, and Bitstamp, along with institutional trading desks such as Cumberland, since June 20. These movements have contributed to a considerable sell pressure, resulting in a 13% decline in Bitcoin’s price over the past month, with BTC trading at $57,660 on Thursday. Despite occasional transfers back to government wallets, the net balance is rapidly approaching zero, indicating that the selloff is nearing its end. While this could relieve market pressures, some bullish investors argue that Germany might miss out on future gains by liquidating now.

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The Loyalty Business on the Fiat Standard

I worked at Mastercard for the last ten years, in the San Francisco office, building card-linked offer solutions to drive merchant loyalty. It’s a fascinating business, where cardholders receive merchant offers delivered via their bank, providing them with a discount if they make a qualifying spend at participating merchants. Below is an example of a sample of these offers/deals from my personal Wells Fargo bank account.

The offers drive new customer acquisition, reactivate lapsed customers and drive higher spend frequency and…

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A significant boost for the cryptocurrency sector emerged as the US Securities and Exchange Commission (SEC) wrapped up its investigation into Paxos, the issuer of the Binance USD stablecoin, without proposing any enforcement action. This development, shared by Jorge Tenreiro of the SEC’s specialized Crypto Asset and Cyber Unit, potentially alleviates concerns about the regulatory future of stablecoins.

Paxos faced scrutiny when it received a Wells notice from the SEC in February 2023, signaling potential legal challenges over whether its Binance USD coin should be considered an unregistered security. However, following a favorable court decision last month regarding Binance’s native token, the SEC has refrained from further action, marking a precedent that could influence regulatory treatment of digital assets.

This closure heralds a more predictable regulatory landscape, encouraging larger entities to consider crypto investments. According to Walter Hessert of Paxos, this resolution could significantly enhance market certainty and foster expansion in the stablecoin arena.

Fortune