Core Scientific announced its financial results for the first quarter of 2024, highlighting a significant recovery with a net income of $211 million. According to its latest press release, Core Scientific’s performance this quarter marked a notable improvement from the previous year’s figures. The company attributed this turnaround to an increase in revenue generated from...
As Bitcoin price predictions become increasingly cautious, the cryptocurrency continues to face substantial headwinds. Recently trading around $61,540, Bitcoin dipped to an intra-day low of $60,910, influenced by escalating regulatory scrutiny in the U.S. and a hawkish Federal Reserve stance on interest rates. Despite these challenges, strategic initiatives such as Hong Kong’s $1 billion crypto...
Crypto hedge fund Pantera Capital has reiterated its bullish stance on Bitcoin, predicting a potential surge in price to $114,000 by August 2025. The forecast comes as the industry grapples with challenges such as inflation concerns, Federal Reserve interest rate policies, and the escalating Middle East crisis. In its latest report, Pantera Capital revisited its...
Lightning Labs CEO Elizabeth Stark believes the new functionality brought by the Lightning Network Taproot Assets protocol will enable stablecoins on Bitcoin. During FT Live’s Crypto and Digital Assets summit in London, Stark gave an explainer of Bitcoin and the Lightning Network to an audience of traditional finance players. Lightning Labs’ Taproot Assets protocol is...
A South Korean convenience store chain, Emart24, is teaming up with the popular cryptocurrency exchange Bithumb to offer Bitcoin Meal packs. These unique meal boxes will provide customers with an opportunity to win small amounts of Bitcoin, adding a crypto twist to their lunch break. Bitcoin Meal Packs Approximately 30,000 Bitcoin Meal packs will be...
Grayscale, the company behind the world’s largest Bitcoin (BTC) ETF, saw flat revenues in Q1 despite non-stop outflows from its world-famous fund throughout the quarter. Per a shareholder letter from Grayscale’s parent company, Digital Currency Group (DCG), the Grayscale Bitcoin Trust (GBTC) netted $156 million between January and March – nearly identical to its Q4...
Bitcoin’s subtle rally to $61,425 signals a potentially stabilizing market. As Bitcoin ETFs like Grayscale and Bitwise see renewed inflows, totaling $11.54 million recently, optimism grows. Recent developments, such as the influx of institutional funds and economic cues affecting digital assets, are what fuel Bitcoin price predictions. Bitcoin ETFs See $11.54 Million Inflows: Grayscale and...
Bitcoin mining firm Marathon Digital reportedly battled against “operational challenges” to produce record financial results in the first quarter of 2024. In its first-quarter earnings report, the firm reported producing 2,811 Bitcoins during the first quarter of 2024, compared to 4,242 in the last quarter of 2023, a decline of 33.73%. Marathon Digital reported revenues...
Tether Operations Limited, the USDT stablecoin issuer, disclosed today its plans to expand its presence in Eastern Europe through further investment in CityPay.io. Tether Expands to Eastern Europe Through CityPay.io Tether Boosts Payment Solutions in Eastern Europe with Additional Investment in https://t.co/14g9wt7PCC ( @citypayio )https://t.co/WSL1GVRhzz — Tether (@Tether_to) May 8, 2024 On May 8, Tether...
Tech leader Jack Dorsey is betting big on Bitcoin, forecasting a price explosion to over $1 million by 2030. As Pirates Wires’ Mike Solana asked for his take on Bitcoin’s future value, Dorsey said: “I don’t know. Over… at least a million. I do think it hits that number and goes beyond.” Still, the crypto...