Tag: 12Year

Bitcoin miner Core Scientific signs 12-year deal to deliver 200MW for machine learning

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Crypto mining firm Core Scientific has signed a 12-year deal with cloud provider CoreWeave to provide resources for training artificial intelligence. Bitcoin miners are now diversifying their portfolios by branching into areas tied to artificial intelligence (AI), with Core Scientific, a crypto mining giant that recently emerged from bankruptcy, now intensifying its focus on machine learning. In a press release on Jun. 3, the Texas-based company said it signed a series of 12-year contracts with CoreWeave, a former crypto mining company which now specializes on cloud services for AI. According…

Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst

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Even with Bitcoin prices facing pressure from sellers, Willy Woo, an on-chain analyst, thinks the coin will reach new highs thanks to the launch of new Bitcoin exchange-traded funds (ETFs). In a post on X, Woo said the coin could soar to as high as $91,000 in a bear bottom but soar to as high as $650,000 in a bull market top. However, Bitcoin will only soar to these mega valuations, assuming that leading asset managers will fully deploy their recommended allocations to the world’s most valuable crypto asset. Bitcoin In…

Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

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In a landmark verdict, Pablo Renato Rodriguez, the co-founder of AirBit Club, has been sentenced to 12 years in prison by US District Judge George B. Daniels.  According to the US Department of Justice (DOJ), Rodriguez, along with his co-conspirators, masterminded a sprawling global pyramid scheme that defrauded investors of millions of dollars through false promises of cryptocurrency trading and mining profits. AirBit Co-Founder Convicted For $100 Million Crypto Fraud Per the DOJ’s investigations, the elaborate scheme involved luring unsuspecting and often inexperienced investors into purchasing AirBit Club memberships with…

BTC price tracks $26.5K as Bitcoin speculator supply hits 12-year low

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Bitcoin (BTC) stuck to $26,500 into the Sept. 24 weekly close as exchange trader accumulation continued. BTC/USD 1-hour chart. Source: TradingView Analysis: BTC price “not ready to make a move” Data from Cointelegraph Markets Pro and TradingView showed BTC price stability holding firm over the weekend. Bitcoin had delivered a cool end to the Wall Street trading week, having also shaken off macroeconomic volatility catalysts from the United States. With few cues appearing since, popular trader and analyst Credible Crypto eyed a slow build-up to a trend shift on the…

3 Reasons the Ether-Bitcoin Ratio Rose to 3 1/2-Year Highs as Crypto Crashed

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While bitcoin tanked last week, pulling the broader crypto market lower, there was one bright spot. The ether-bitcoin (ETH/BTC) ratio rose 13%, reaching a 3.5-year high and registering its best weekly performance since May. The move was unique. Historically the pair has rallied during market-wide bull runs characterized by buying frenzy in ETH and other alternative cryptocurrencies. Several factors, including the Ethereum blockchain’s EIP-1559 upgrade implemented in August, appear to have helped ETH/BTC chalk out gains in a risk-off environment. Let us discuss each one. Bitcoin exposure to macro risks…

Satoshi Nakamoto’s Bitcoin White Paper: A 12-Year Old Summary of Robust Unstructured Simplicity

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Cryptocurrency supporters all around the world are celebrating the fact that today is the 12th anniversary of the Bitcoin white paper, a summary of the invention created by the pseudonymous inventor Satoshi Nakamoto. Bitcoin’s inventor published the paper on metzdowd.com’s Cryptography Mailing list and ever since then, the financial world hasn’t been the same. 12 years ago, Satoshi Nakamoto decided to let the world in on Bitcoin, the peer-to-peer electronic cash system that took the world by storm. The very first time Nakamoto published the paper was at 2:10 p.m.…