Day: January 5, 2022

Core Scientific Mined Over 1K Bitcoin in December, Nearly 6K in 2021

Digital asset mining company Core Scientific mined a total of 1,044 bitcoin in December, taking its total for the year to 5,769. As of the end of the year, Core Scientific held 5,296 BTC (approximately $248 million at current prices), according to an announcement Wednesday. The total of 5,769 BTC mined in 2021 comfortably exceeds that of Bitfarms and Marathon Digital, which both made similar announcements Monday, having mined 3,452 BTC and 3,197 BTC, respectively. For December, Bitfarms mined 363 bitcoins, while Marathon mined 484.5. Core Scientific operates around 67,000…

Core Scientific Mined Over 1K Bitcoin in December, Nearly 6K in Total in 2021

Digital asset mining company Core Scientific mined a total of 1,044 bitcoin in December, taking its total for the year to 5,769. As of the end of the year, Core Scientific held 5,296 BTC (approximately $248 million at current prices), according to an announcement Wednesday. The total of 5,769 BTC in 2021 comfortably exceeds those of Bitfarms and Marathon Digital who both made similar announcements Monday, having mined 3,452 and 3,197 respectively. For December, Bitfarms mined 363 bitcoins, while Marathon mined 484.5. Core…

Fireblocks ‘Whitelists’ 30 Trading Firms for Aave’s Institutional DeFi Debut

In a zero-interest environment in traditional markets, banks may have a new friend in decentralized finance (DeFi) – or a version of which they can at least compliantly participate in. This is what institution-friendly DeFi initiative Aave Arc is offering, having now officially launched with the help of cryptocurrency custody firm Fireblocks, plus a “whitelist” of 30 licensed trading firms. The lending and borrowing of cryptocurrency that happens in DeFi is normally done in a purely pseudonymous manner; users are known by nothing more than long strings of numbers and…

The worst influencer and celebrity NFT cash grabs of 2021

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The monumental growth of the nonfungible token (NFT) sector in 2021 was a double-edged sword. While it may have transformed the wealth of countless investors and artists alike, it also gave birth to an alarming trend of popular figures who pounced on the tech to turn JPEGs into a quick profit.  Here, we’ll take a look at four influencers and celebrities who allegedly threw quality and utility out the window to vacuum capital out of their supporters’ pockets amid a year plagued by a global pandemic, labor shortages, unstable finances…

Leading NFT Marketplace Opensea Raises $300 Million, Firm’s Post-Money Valuation Taps $13.3 Billion – Finance Bitcoin News

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Leading non-fungible token (NFT) marketplace Opensea announced the firm has raised $300 million in a Series C funding round led by Paradigm and Coatue. Opensea’s latest capital raise has propelled the company to a $13.3 billion post-money valuation. Opensea Raises $300 Million, Commands Post-Money Valuation of $13.3 Billion In mid-November, a report authored by theinformation.com’s Kate Clark and Berber Jin explained that Opensea was fielding new investments after investors were allegedly chomping at the bit to fund the project. At the time, Opensea’s estimated valuation was $10 billion and two…

How it started vs. how it’s going with the Bitcoin Law in 2021

Before June 2021, news regarding Nayib Bukele was likely not even a blip on many crypto users’ radar screens. The Salvadoran president instead made headlines for allegations of corruption and dictator-like behavior after his party’s congressional majority sacked five members of the country’s Supreme Court and its attorney general. During the Bitcoin 2021 conference in Miami, however, Bukele stunned many participants and garnered international attention by announcing he planned to have El Salvador adopt Bitcoin (BTC) as legal tender. Within a week, a supermajority of the Salvadoran Legislative Assembly —…

How it started vs. how it went with the Bitcoin Law in 2021

boss

Before June 2021, news regarding Nayib Bukele was likely not even a blip on many crypto users’ radar screens. The Salvadoran president instead made headlines for allegations of corruption and dictator-like behavior after his party’s congressional majority sacked five members of the country’s Supreme Court and its attorney general. During the Bitcoin 2021 conference in Miami, however, Bukele stunned many participants and garnered international attention by announcing he planned to have El Salvador adopt Bitcoin (BTC) as legal tender. Within a week, a supermajority of the Salvadoran Legislative Assembly —…

Canadian Miner Hut 8 Closed 2021 With 5,518 Bitcoin in Reserve

Canadian crypto mining firm Hut 8 (HUT) had 5,518 bitcoin (approximately $256 million at current prices) in its reserves on Dec. 31, 2021, according to a Wednesday press release. Nasdaq-listed Hut 8 follows a “hodl” strategy, meaning it keeps all of the bitcoin it mines in its custody, essentially betting that their value will increase in the long term. The reserves represent a 97% increase compared to the end of 2020, the press release said. Hut 8′s rate of bitcoin production was up slightly from an average of 8.83 BTC…