TeraWulf to lease 70 MW to host AI as Bitcoin mining costs jump

December 24, 2024 Coin Telegraph

TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficulty increases and profitability shrinks.

Bitcoin miner TeraWulf will lease over 70 megawatts of data center infrastructure to expand its artificial intelligence revenue as it struggles with rising Bitcoin mining costs.

TeraWulf said on Dec. 23 that AI and cloud provider Core42 would rent the 70 MW of infrastructure at the crypto miner’s Lake Mariner facility in upstate New York as its share price closed down 12% amid a broader market fall.

“The data center leases reflect TeraWulf’s strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations,” TeraWulf said.

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Pump.fun weekly revenue drops 66% after livestream controversy

December 1, 2024 Coin Telegraph

Coin Telegraph

Pump.fun’s weekly revenue peaked at $33 million in November before dropping to $11 million the following week.

Solana memecoin launchpad Pump.fun saw its weekly revenue drop after disabling its livestream feature in response to reports of harmful content being broadcast.

The Solana memecoin generator’s revenue began November with an upward trajectory before it peaked in the fourth week.

From Nov. 18–24, DefiLlama data shows the memecoin launchpad generated $33.83 million in revenue for the week. This represents a 60% increase compared to the previous week and an almost 400% increase compared to the start of the month.

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Nvidia sees bright future in agentic AI amid record Q3 revenue

November 21, 2024 Coin Telegraph

agentic ai

The world’s most valuable company is focusing on AI systems, or agents designed to exhibit autonomous decision-making.

Nvidia CEO Jensen Huang said his firm is focused on being at the forefront of agentic (autonomous) artificial intelligence, as it delivered record revenue in the third quarter.

“The age of AI is in full steam, propelling a global shift to Nvidia computing,” the company’s founder and CEO Jensen Huang said on Nov. 20, as the firm announced that its quarterly revenue was up 17% from the second quarter and 94% from a year earlier.

The lion’s share of that revenue, $35.1 billion, came from the company’s data centers, which help power the AI revolution. Huang anticipated continued strong demand for AI computing technologies, projecting Q4 revenue of $37.5 billion.

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Block Inc’s Bitcoin revenue stagnates in Q3, shares drop 12% on revenue miss

November 8, 2024 Coin Telegraph

block

Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses.

Block Inc’s (SQ) shares tumbled early after hours as its Bitcoin revenue flatlined in Q3 compared to the previous year, and total revenues missed Wall Street expectations.

Block shares dropped by 12.3% to a bottom of $66 ten minutes after the closing bell on Nov. 7 after closing the day down 3.05% at $75.27, according to Google Finance.

It’s since recovered to a loss of 1.7% and its share price is up 4.2% so far this year.

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Robinhood doubles crypto trading volume, but shares dip 12% on Q3 earnings

October 31, 2024 Coin Telegraph

Coin Telegraph

Robinhood also reported a 76% year-on-year increase in assets under custody, attributed to rising crypto valuations.

Shares in trading platform Robinhood fell 12.4% after-hours after its third-quarter earnings missed Wall Street estimates, though crypto trading volume and revenues doubled year-on-year.

Robinhood’s Q3 results show that crypto trading volumes and crypto revenue soared 112% and 165% year-on-year in the third quarter, coming to $14.4 billion and $61 million, respectively, helping the firm swing back into profit.

However, the $150 million net income and $637 million revenue Robinhood posted in Q3 still missed industry estimates, and consequently, HOOD shares fell over 12.4% in after-hours trading, Google Finance data shows.

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Too early to say Ethereum L2s are ‘cannibalistic’ of revenue: Sygnum Bank

October 25, 2024 Coin Telegraph

21shares

Ethereum daily fees hover between $1 million and $5 million — far less than the $30 million consistently reached throughout 2021 and 2022.

Fears that Ethereum layer-2 scaling solutions are eating into the mainnet’s revenue and could impact prices may be premature, according to a crypto bank analyst.

“It is much too early to tell whether Ethereum[‘s] strategy of scaling through layer 2s is cannibalistic or will lead to net growth,” Katalin Tischhauser, head of research at Sygnum Bank told Cointelegraph in a recent interview.

Tischhauser’s use of “cannibalistic” refers to layer 2s taking “business” away from the Ethereum mainnet — which has contributed to a substantial fall in Ethereum fees over the last few years.

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Memecoins drove Tron network revenue to new high over Q3: Messari

October 18, 2024 Coin Telegraph

active users

Nearly a third of Tron’s record $151 million quarterly revenue came from its new memecoin launchpad SunPump over a two week period.

Tron’s memecoin launchpad SunPump has driven the blockchain’s quarterly revenue to a record high of $151.2 million across the third quarter, a nearly 30% quarter-on-quarter bump, says Messari.

A memecoin frenzy saw over 89,000 tokens launched on SunPump between Aug. 12 and Sept. 30 and led to Tron’s decentralized finance transactions gaining by 487% over Q3, Messari said in an Oct. 17 report.

Between Aug. 16 and 31, over 270 million TRON (TRX) tokens were burned, generating around $42 million — nearly 27% of Tron’s Q3 revenue, Messari noted.

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US Banks Under Pressure As JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs and Citi Battle Shrinking Margins: Report

October 9, 2024 The Daily Hodl

bank

The biggest banks in the US are preparing to report a third quarter marked by shrinking margins and declining profits, according to a new report. JPMorgan Chase and Wells Fargo release their Q3 earnings on Friday. JPMorgan is expected to reveal a nearly 8% drop in earnings per share while Wells Fargo will likely report […]

The post US Banks Under Pressure As JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs and Citi Battle Shrinking Margins: Report appeared first on The Daily Hodl.

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Bitcoin Is Digital Oil Well Fueling Rural Texas Economic Revival, Mayor Says

October 8, 2024 Bitcoin.com

Alcoa

Mayor Ward Roddam of Rockdale, Texas, sees bitcoin mining as the key to his town’s resurgence after the devastating closure of its largest employer, Alcoa. Comparing it to Texas’ oil boom, Roddam highlights how this modern technology is creating jobs, boosting revenue, and funding essential services. With over $1 billion in investments, bitcoin mining could […]

Everything Setting Up for Crypto Bull Market Top in 2025, Says Pantera Capital’s CEO – Here’s His Timeline

The 5 Month Halving Hangover: Bitcoin Miners Continue to Face Revenue Struggles

September 21, 2024 Bitcoin.com

Bitcoin

Metrics reveal that although BTC prices climbed 6.97% in September, Bitcoin’s hashprice—the anticipated daily revenue from 1 petahash per second (PH/s)—remains ultra-low. This suggests that miners are still dealing with extremely thin profits. With just nine days left in the month, miners have already earned a hair over 62% of what they brought in during […]

revenue

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