Hut 8 Corp, a prominent Bitcoin miner in North America, faced significant challenges in its financial performance for the second quarter ending June 30, 2024. Despite a substantial 72% year-over-year revenue increase to $35.2 million, the company reported a massive net loss of $71.9 million. The primary reason for this loss was a $71.8 million
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The Intersect organization, which oversees the development of the Cardano blockchain, has issued an urgent call for decentralized application projects on the blockchain to accelerate their preparations for the upcoming Chang Upgrade #1. This call to action comes after an announcement on August 17th, where Intersect revealed that more than 80% of stake pool operators
TeraWulf’s second-quarter earnings report for 2024 showed a decline in BTC production compared to the same period in 2023. The company mined 699 BTC across its Lake Mariner and Nautilus Cryptomine facilities, marking a 21% decrease from the previous year. Despite the decrease in BTC production, TeraWulf’s revenue for the quarter increased slightly, reaching $35.6
Norway, a country in northern Europe with a population of nearly 5.5 million, has been making waves in the world of cryptocurrency. The government of Norway has made significant investments totaling around $1.7 trillion for its citizens, with a portion of that being allocated to Bitcoin stocks. In fact, Norway now indirectly owns 2,446 BTC
Cryptocurrency journalism is a fast-paced and ever-evolving field that requires a deep understanding of complex technologies and market dynamics. Semilore Faleti is a prominent figure in this space, showcasing his expertise in journalism and content creation. His journey into the world of blockchain and cryptocurrency writing was not immediate, as he initially dabbled in various
Blockchain investigator ZachXBT recently uncovered a shocking revelation about North Korean developers who managed to steal $1.3 million from a project’s treasury. These devs, operating under false identities, injected malicious code into the system, enabling the unauthorized transfer of funds. The stolen money was first sent to a theft address and then moved from Solana
Samuel Edyme, known in the digital realm as HIM-buktu, is a multifaceted individual with a diverse skill set. From being a web3 content writer to an aspiring trader, Edyme’s journey in the crypto space is both intriguing and enlightening. Despite facing setbacks early on, he persevered and used his experiences to carve a unique path
The cryptocurrency market is known for its volatility and unpredictability, with analysts constantly providing contrasting opinions on the future price movements of cryptocurrencies like Bitcoin. Recently, two prominent crypto analysts, identified as ‘Mags’ and ‘Milkybull Crypto,’ have shared their divergent views on Bitcoin’s potential trajectory. While ‘Mags’ warns of a bearish death cross signaling short-term
In a recent landmark ruling by a United Arab Emirates court, cryptocurrencies have been officially recognized as a mode of salary payment in employment contracts. This decision marks a significant shift in how cryptocurrencies are viewed and utilized in the UAE job market. The case involved a plaintiff suing their former employer for wrongful termination
The crypto market has recently seen a significant increase in the trading volume of Cardano (ADA), the 11th largest cryptocurrency by market capitalization. According to data from CoinGlass, there has been a 150% surge in trading volume over the last 24 hours, totaling around $477 million. This increase is also reflected in CoinGecko’s data, which
Cryptocurrency has long been considered a complex and somewhat inaccessible form of currency for everyday purchases. However, a recent partnership between MetaMask, Mastercard, and Baanx has taken a significant step towards changing that perception with the launch of the MetaMask Card. This innovative new product aims to make cryptocurrencies more user-friendly by allowing users to
According to a recent report by Bitwise, U.S.-based institutional investors are showing strong support for Bitcoin spot ETFs, with approximately 66% either maintaining or increasing their holdings. This trend is particularly noteworthy given the market volatility and declining prices experienced in the second quarter of the year. Growing Number of Filings Bitwise’s chief investment officer,
Sahil Arora, a well-known figure in the crypto industry, has recently come under scrutiny for his controversial practices. While initial reports suggested that Arora had made an impressive $30 million this year, further investigation by blockchain expert ZachXBT revealed a much lower figure of approximately $3 million. This significant difference raises questions about the accuracy
Bitcoin experienced a 2.5% drop on Wednesday, settling at $59,100, following the U.S. government’s decision to transfer more of its Silk Road-related Bitcoin holdings to Coinbase Prime. This move was highlighted by the on-chain analysis platform Arkham Intelligence, which pointed out that 10,000 BTC, valued at $593 million, had been relocated. The specific wallet, bc1ql,