Monat: Juni 2023

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CleanSpark acquires two Bitcoin mining facilities for $9.3 million

  • CleanSpark will complete the $9.3 million all-cash deal for the two turnkey Bitcoin mining facilities this week.
  • The facilities in Dalton, Georgia, will host 6,000 Antminer S19 XPs and S19J Pro+ rigs.
  • CleanSpark CEO Zach Bradford says the deal puts the miner on track to reach its year-end hashrate target of 16 EH/s

CleanSpark (NASDAQ: CLSK), one of the largest Bitcoin mining firms in the world, has announced the acquisition of two BTC mining campuses in Dalton, Georgia.

The company said in a press release that it had struck a definitive agreement to purchase the two turnkey facilities for $9.3 million, an all-cash deal expected to close later this week.

CleanSpark targets 16 EH/s by end of year

According to the miner, the two campuses are set to host over 6,000 Antminer S19 XPs and S19J Pro+s, and will see the mining giant add just under 1 exahashes per second (EH/s) to its hashrate.

“This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s. It also continues to position us as one of the most power-efficient miners on an energy-per-hashrate basis,” Zach Bradford, CEO of CleanSpark, said in a statement.

CleanSpark’s latest purchase adds to multiple previous buys and acquisitions secured over the past several months. After purchasing 20,000 Antminer S19j Pro+ machines for $43.6 million in February, the company added 45,000 Antminer S19 XP units worth $144.9 million in April. In May, it bought 12,500 Antminer S19 XP rigs.

CLSK traded at $4.86, up 10% on the day on Wednesday. The crypto stock has rallied more than 140% in 2023 and analysts expect it to reach $12.

The post CleanSpark acquires two Bitcoin mining facilities for $9.3 million appeared first on CoinJournal.

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Binance Labs, CoinFund lead $10M round for Cosmos network Neutron

  • Binance Labs and CoinFund led several venture firms in raising a $10 million round for Neutron.
  • Neutron is a Cosmos-based smart contracts platform that launched its mainnet in May.
  • The platform will use the funds to further its development and adoption across the ecosystem.

Crypto exchange Binance’s venture capital arm Binance Labs and Web3-focused venture firm CoinFund co-led a $10 million funding round for Cosmos-based smart contracts infrastructure Neutron.

The seed funding round also attracted the participation of Delphi Ventures, LongHash and Nomad, according to details of the funding round reported by The Block.

Neutron is a cross-chain smart contract blockchain that uses CosmWasm, a computational feature in the Cosmos ecosystem that allows for cost-effective creation and deployment of dApps. The platform, whose mainnet launch was in May this year, will use the funding to enhance its software development and promote further adoption as demand for layer-2 solutions and appchains grows.

With its Replicated Security layer, Neutron makes it easy for developers to build consumer chains, the first in the Cosmos ecosystem.

Neutron Coin (NTRN), the blockchain’s native token, traded at around $0.00088964.

The post Binance Labs, CoinFund lead $10M round for Cosmos network Neutron appeared first on CoinJournal.

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KAVA price spikes as USDT prepares to launch on Kava blockchain

  • At press time, KAVA was trading at $0.9214, up 13.27% over the last 24 hours.
  • The first Kava-based USDT will be released on July 3, 2023.
  • Since Kava is built on Cosmos, the move will also make USDT liquidity to be available to Cosmos users.

USDT stablecoin is scheduled to go live on the Kava blockchain in the coming month. This will make Kava the next blockchain supported by Tether Limited, the company that issues the biggest stablecoin USDT, according to an official announcement made by the company.

The new release will allow the community of Cosmos (ATOM), a cutting-edge cross-chain ecosystem, to access USDT liquidity. Kava, Cosmos’ flagship network, recently underwent a significant upgrade.

Kava and Tether collaboration

Following the development, the Kava (KAVA) team emphasized that it combines the most impressive features of the Ethereum Virtual Machine (EVM) with Cosmos SDK’s speed, low transaction fees, and interoperability. Kava released the Kava 13 upgrade to increase throughput and speed.

The new release has Paolo Ardoino, CTO at Tether, excited and he believes it will be crucial to USDT’s development and adoption of different liquidity solutions. Paolo said:

“We’re thrilled to be launching USD₮ on Kava, offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin. The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USD₮ users. Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”

Besides Kava, USDT has been launched on several other blockchains including Ethereum, Solana, Algorand, Tron, Eos, Near Protocol, and Avalanche blockchains as well as on Omni solutions and Liquid Network.

The post KAVA price spikes as USDT prepares to launch on Kava blockchain appeared first on CoinJournal.

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OKX partners with LIV Golf League team Majesticks GC

  • OKX has become the first global sponsor and Web3 partner of Majesticks GC.
  • The partnership will see OKX and the golf team collaborate on fan engagement projects meant to improve experiences.
  • OKX has struck some key partnerships in the sports industry, including with the McLaren F1 Team and European soccer giants Manchester City.

OKX, one of the largest cryptocurrency exchanges in the market and a leading Web3 company, has announced a sponsorship deal with Majesticks GC, one of the teams in the new LIV Golf League.

As part of the partnership, OKX becomes Majesticks GC’s first global and Web3 sponsor. The crypto echange and the golf team will collaborate on efforts to increase fan engagement and experiences, according to a press release published on Wednesday.

“Having been an OKX Ambassador, I know that the company brings passion, technological expertise and creative thinking to everything it does. That’s why I’m so excited to welcome OKX as the first official global sponsor for Majesticks GC,” Majesticks Team co-captain Ian Poulter said in a statement.

The partnership with the golf team adds to OKX’s partnership forays into the sporting ecosystem. The crypto platform already boasts major deals with the McLaren F1 Team and Manchester City, the current EPL and Champions League winners.

“Golf captivates people around the world,” Haider Rafique, Chief Marketing Officer at OKX, said. “However, its reach can be magnified if we dare to think big about fan engagement, inclusivity and truly unique partnership activations that use Web3 to amaze and inspire. This is what we’re shooting for with Majesticks GC, a top-tier team in the LIV Golf League that exemplifies our values and ambitions.”

OKX will work with Majesticks on a number of exciting developments aimed at achieving the above goals, Rafique added.

The post OKX partners with LIV Golf League team Majesticks GC appeared first on CoinJournal.

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Bitcoin price outlook: Technical breakout suggests BTC rally to $34k

  • Bitcoin’s breakout to $29k comes after bulls established $26,190 as a key support zone.
  • If bulls break to YTD highs, the next direct resistance per the Fibonacci model could be at the -50.0% retracement of $34,280.
  • Bitcoin traded at around $29,030 on Monday morning after spot ETF news sparked by BlackRock’s filing aided bulls’ upside momentum.

Bitcoin (BTC) broke above a key downtrend line as it rose past the $28k level on Tuesday. In reaching the $29k area, BTC pushed well beyond the recent hurdle and now has a key support line of $26,190.

Analysts have pointed Bitcoin’s break of a multi-month downtrend as a bullish move that puts the top crypto asset on the verge of retesting the $30k level. Can it go higher than its year-to-date highs above $31k? 

The technical picture based on the Fibonacci model suggests it could pump beyond its YTD highs.

Bitcoin price to $34k next?

While Bitcoin is clearly not in a bull market yet, the potential for a burst is looking likely as a confluence of positive factors align. Given, regulatory headwinds, including the SEC’s lawsuits against Binance and Coinbase, continue to hover over the market.

However, the resilience shown over the past weeks and renewed optimism as major financial institutions embrace crypto has bulls poised and a break to $30k is very much on. Can it go to $34k next?

According to Glassnode, an on-chain and financial metrics data provider, this robust support is at the -61.8% golden ratio Fibonacci retracement. If the price pushes higher and establishes a clear upward trend, it’s likely bulls will retest the bears’ resolve around $34,280.

This would be the next direct resistance zone, Glassnode pointed out on Wednesday, putting this possible supply reload zone at the -50% Fibonacci retracement level.

Chart showing Bitcoin Fibonacci retracement levels from its all-time. Source: GlassnodeHaving survived the negative sentiment that surrounded the SEC’s crackdown, the current wave of buy pressure could bring two other major resistance areas into play.

Veteran trader Peter Brandt believes the breakout shifts the “burden of proof” to the bears as he suggests a rally to above $37k is possible. Meanwhile, Glassnode identifies the -38.2% and -23.6% Fibonacci retracement levels of $42,370 and $52,380 respectively as key hurdles.

Currently, BTC/USD is trading at $29,030, about 8% up in the past 24 hours and nearly 12% higher over the past week.

The post Bitcoin price outlook: Technical breakout suggests BTC rally to $34k appeared first on CoinJournal.