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Cipher Mining splashes $350M on next-gen Bitcoin mining rigs from Bitfury
According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC) on Monday, Cipher Mining will purchase 28,000 to 56,000 next-generation Bitcoin mining hardware from Bitfury at a cost of $6,250 per rig. At a maximum cost of $6,250 per machine, Cipher’s Bitcoin mining hardware outlay could go between $175 million and $350 million, depending on whether the company elects to receive all 56,000 rigs as stated in the purchase agreement. The total inventory order will be delivered in seven batches on a monthly basis beginning in the summer of 2022 until December 2022. As part of the SEC filing, Cipher Mining will pay an advanced fee of $10 million within three business days of executing the agreement to kickstart the massive order. As previously reported by Cointele...
Jelurida will launch 30-day blockchain education campaign across East Africa
The African arm of the company behind the Ignis, Nxt and Ardor blockchains will be launching a multi-country tour to provide blockchain education in the public and private sectors. According to information provided to Cointelegraph, Jelurida Africa said it would begin a blockchain expedition starting with Tanzania’s self-governing state of Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and Tanzania. The group aims to promote blockchain education with meetups in universities, financial institutions and public offices. The team of distributed ledger technology and smart contract experts said it plans to reach out to local lawmakers and private firms as well as developers and blockchain enthusiasts in the respective countries as part o...
Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI
Bitcoin (BTC) has been sustaining above $54,000 for the past few days but that has not resulted in euphoria among investors. Google Trends data shows that Bitcoin search interest has not picked up in recent days and is nearing one-year lows. Some analysts believe that this is a sign that only stronger hands are accumulating. A recent report from CoinShares also showed that institutional investors pumped more than $226 million into Bitcoin products in the week ending Oct. 8. The analysis firm estimates that the total assets under management of institutional crypto products have ballooned to $66.7 billion, just 5% below the record hit in May. Daily cryptocurrency market performance. Source: Coin360 Data from Glassnode also shows that the Bitcoin wallets of long-term holders contain 13.3 mill...
Five Ways the Music Industry Has Changed Since Adele Last Released an Album
What we’ve heard of “Easy On Me” so far sounds much like the Adele that the world fell in love with a decade-plus ago. But even if the sound of her new music is in line with her earlier blockbusters, the music industry has evolved at a rapid pace since 2015. Her continued streak of hits is close to a foregone conclusion, but what success looks like in 2021 is slipperier and harder to define by the old metrics. Here are five ways that the music industry has changed since we last heard from Adele. Streaming windows have gone out of style Back in the mid-2010s, streaming services like Spotify and Apple Music had already begun reshaping music consumption and driving down traditional sales even further from the decline previously brought about by filesharing at the turn of the centu...
‘We’re being dragged along’: Extreme weather puts governors to the test
And Hochul, instead of celebrating the housing deal, declared a state of emergency. Her incoming director of state operations, Kathryn Garcia, hadn’t officially started the job — which comes with a vast mandate to oversee most areas of the executive branch. But she stepped in to advise Hochul on the storm response, helping her understand what questions to ask of other officials and who to talk with to get the help the state needed. Garcia, previously New York City’s sanitation commissioner and a candidate for mayor, said Hochul was mindful of the need to put the right people and processes in place that could handle extreme weather, in part so that the governor could get other things done, too. “Natural disasters and responding to them are part of any elected job. It is about putting a stru...
Australia’s new law allows regulators to seize and freeze crypto
The measures take a decisive stance against ransomware payments: Minister of Home Affairs After a surge in cyberattacks on critical Australian infrastructure including prominent businesses and state agencies last year, the country has decided to introduce stricter penalties for cybercriminals in what is being dubbed as the ‘Ransomware Action Plan’. These new sets of measures seek to criminalise the sale of stolen data and the purchase of malware with the intention to commit computer crimes, discourage victims from paying a ransom for cyber-attacks and deter international cybercriminals from targeting Australian institutions by controlling the flow of funds into the world of ransomware. “The Ransomware Action Plan takes a decisive stance — the Australian Government does not cond...
Bitcoin search interest nears 1-year lows as BTC price slips below $55K
Bitcoin (BTC) saw a widely anticipated pullback on Oct. 13 as bulls struggled with February’s old all-time highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysts unfazed by BTC’s price pullback Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing from five-month highs to briefly wick below $54,000 on Bitstamp. After recovering to around $55,000, the pair looked choppy on Wednesday with no clear direction apparent in the short term. For analysts, however, there was little surprise in the moves. $58,000 had been tipped as tricky resistance, which was unlikely to break all at once, while a “buy the dip” opportunity at $53,000 or below was also on the radar for many. “This BTC pullback doesn’t worry me at all,” trader and analyst Rekt Capital s...
SEC Chair Gary Gensler actually is pro-Bitcoin, Volt Equity CEO argues
The founder of Volt Equity believes that United States regulators have a fair reason to be slow in approving a pure Bitcoin (BTC)-related exchange-traded fund (ETF). Volt Equity CEO and founder Tad Park voiced support for the U.S. Securities Exchange Commission regarding the regulator’s unwillingness to approve an ETF that would track Bitcoin directly. In a Tuesday Fox Business interview, Park argued that SEC Chair Gary Gensler “actually is pro-Bitcoin” but is also “a little bit misunderstood” regarding his perspective on crypto regulation in the United States. Park specifically referred to the SEC’s investor protection concerns, namely that crypto custody providers have yet to assure the commission that they can actually ensure proper asset protection: “I can say ‘I have a gold...
Binance to suspend Chinese yuan from P2P platform in December
Binance crypto exchange officially announced on Wednesday that the company will delist the Chinese yuan (CNY) from its peer-to-peer trading platform on Dec. 31. Alongside terminating yuan trading pairs, Binance will continue further restricting access to its platform for users from mainland China, introducing new measures for accounts found to be linked to the region. Binance will specifically limit such accounts to “withdrawal only” mode, limiting transactions to withdrawals, redeeming and closing positions. Binance emphasized that the company “withdrew from the Chinese mainland market in 2017” and has not been engaged in exchange business in the region since. The exchange said that China-based users have not been able to access Binance since the exit. Despite exiting the Chinese market b...
US dominates global Bitcoin hash rate distribution after China crackdown
Following sweeping crackdowns by China against Bitcoin mining activity, the United States has now emerged as the leading nation in terms of hash rate. According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global BTC mining hash rate distribution. CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining centers outside the United States. These three nations have gained significant market share in the wake of China’s crypto mining ban. Back in June, Cointelegraph reported that BTC.com, one of the largest Chinese Bitcoin miners, was relocating to Kazakhstan. Source: CBECI Perhaps of particular interest is the fact that CBECI data shows a 0% hash rate from China. However, it is po...
Coinbase wants to launch an NFT marketplace
The competition within the NFT space is increasing as more companies are coming in and offering services to users The non-fungible token (NFT) market is getting more competitive as companies are now entering the space and offering their services. More cryptocurrency exchanges are starting to provide NFT trading services as the demand for the digital artworks grows. Coinbase, one of the leading crypto exchanges in the world, is the latest crypto trading platform to throw its hat into the ring regarding NFTs. The company announced its plans yesterday to launch a marketplace that would allow users to mint, collect and trade NFTs. Coinbase told interested users to sign up to a waiting list for early access to the feature. NFTs have been growing in terms of demand over the past few months as mo...
Celsius Network raises $400M despite regulatory challenges
Cryptocurrency firms are raising more funds at the moment than at any point in history, with billions of dollars invested in the sector Cryptocurrency lending firm Celsius Network has raised $400 million in a recent funding round despite the company’s ongoing challenges with state regulators across the United States. The company will use the funds to expand its crypto lending offerings. Announcing this latest development yesterday, Celsius Network said the latest equity funding round was led by Caisse de dépôt et placement du Québec (CDPQ), the second-largest pension fund in Canada, and Laurence Tosi’s equity firm, WestCap. According to the Celsius Network, the funds will be used to expand its offering and products in a bid to connect the traditional financial markets with thos...
