Bitcoin Miners Shifting to Artificial Intelligence and High-Performance Computing, According to VanEck Analysts

August 18, 2024 The Daily Hodl

New research from VanEck reveals that Bitcoin (BTC) miners are shifting to artificial intelligence (AI) and high-performance computing. In a thread on the social media platform X, Matthew Sigel, the head of digital assets research at VanEck, says that BTC miners are utilizing technology to earn profits through strategic arbitrage. “Bitcoin miners are shifting to […]

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Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Bitcoin miners may gain $13.9B yearly from 20% shift to AI and HPC: VanEck

August 18, 2024 Coin Telegraph

bitcoin miner

Bitcoin miners could increase profitability and improve "bad balance sheets" by allocating some of their energy capacity to the AI and HPC sectors, according to VanEck.

Bitcoin miners have the opportunity to potentially generate around $13.9 billion in additional yearly revenue if they partially transition to providing energy to the artificial intelligence and high-performance computing (HPC) sector by 2027, according to investment firm VanEck.

“AI companies need energy, and Bitcoin miners have it,” VanEck stated in an Aug. 16 report. The firm believes that Bitcoin miners, which face profitability risks from volatile operating costs and Bitcoin’s (BTC) price fluctuations, may find it beneficial for their financial positions to redirect some of their energy capacity towards the growing sectors.

“Bitcoin miners generally have bad balance sheets, either because of too much debt, too much share issuance, too much executive compensation, or some combination of all three,” VanEck claimed.

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Crypto ETF Market Sees Turnaround: Bitcoin and Ethereum Funds Net Inflows

August 13, 2024 Bitcoin.com

Ark Invest

U.S.-based spot bitcoin and ethereum exchange-traded funds (ETFs) both enjoyed a lift on Monday, with ETH ETFs pulling in $4.93 million while BTC ETFs attracted $27.87 million during the day’s trading. Crypto ETFs Make a Positive Comeback On Aug. 12, 2024, both spot bitcoin (BTC) and ethereum (ETH) ETFs experienced inflows, marking a shift from […]

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Here’s How Bitcoin (BTC) Reaches $2,900,000 per Coin, According to VanEck Analysts

August 1, 2024 The Daily Hodl

Bitcoin

Analysts at the investment management giant VanEck think Bitcoin’s price (BTC) could skyrocket to $2.9 million by 2050. For that to happen, BTC will need to become a key part of the international monetary system, according to Matthew Sigel, VanEck’s head of digital assets research, and Patrick Bush, a senior investment analyst at the firm. […]

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Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Bitwise exec says, ‘We’re not bullish enough,’ amid political sway to crypto

August 1, 2024 Coin Telegraph

Bitcoin 2024 conference

Bitwise’s Matt Hougan said the idea that US politicians are even considering Bitcoin as a reserve asset is a monumental step, given it felt more like a “daydream” a year ago.

After hearing several influential United States politicians embrace Bitcoin at the recent Bitcoin 2024 conference in Nashville, Tennessee, Bitwise’s chief investment officer Matt Hougan says he left with one big takeaway: “We’re not bullish enough.”

In a July 31 post, Hougan said several recent promises made by these US politicians have prompted him to “rethink what’s possible” with Bitcoin (BTC).

Among those promises were Republican Party candidate and former President Donald Trump’s plan to build a strategic national Bitcoin stockpile, Wyoming Senator Cynthia Lummis’ announcement of a Bitcoin reserve bill to clean up the country’s $35 trillion debt crisis and independent presidential candidate Robert F. Kennedy Jr.’s promise to make the US Treasury buy 500 Bitcoin per day until at least 4 million Bitcoin is reached.

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

US Ethereum ETFs See Fourth Straight Day of Outflows

July 30, 2024 Bitcoin.com

bitcoin.com

According to the latest data, the nine U.S.-based ethereum exchange-traded funds (ETFs) experienced their fourth consecutive day of outflows on Monday, amounting to a $98.29 million reduction. These outflows have pushed the cumulative net inflow into the negative, amounting to a sum of -$439.64 million since July 23. U.S. Ethereum ETFs Experience Continued Outflows, Driven […]

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050

July 29, 2024 Bitcoin.com

Bitcoin

Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Scalability challenges are […]

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

US Spot Bitcoin ETFs See $51.66M Inflows as Grayscale’s GBTC Deals With Outflows

July 27, 2024 Bitcoin.com

Bitcoin

Unlike the U.S. spot ether exchange-traded funds (ETFs), the spot bitcoin ETF equivalents experienced inflows during Friday’s trading session, totaling $51.66 million. Four funds recorded inflows, while Grayscale’s Bitcoin Trust (GBTC) saw an outflow of $26.55 million. Spot Bitcoin ETFs Garner $51.66M Grayscale’s spot ether ETF, ETHE, and its spot bitcoin ETF, GBTC, have been […]

Bitcoin whales have scooped up 34K BTC since December dump: Analyst

VanEck CEO Rules Out the Approval of a Spot Solana ETF in the US Over the Short Term – Unless This Happens

July 26, 2024 The Daily Hodl

Altcoins

The chief executive of the financial giant VanEck says that a Solana (SOL) exchange-traded fund (ETF) is unlikely to be available anytime soon unless one key event occurs. In a new interview on CNBC Squawk Box, VanEck CEO Jan van Eck says that he does not expect their application for a SOL ETF to win […]

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Bitcoin whales have scooped up 34K BTC since December dump: Analyst

Ethereum ETFs Face $133M Outflows as Grayscale’s ETHE Divests $326M

July 25, 2024 Bitcoin.com

Ethereum ETFs Face 3M Outflows as Grayscale’s ETHE Divests 6M

bitcoin.com

Based on recent data, after a period of inflows, nine U.S. spot ethereum exchange-traded funds (ETFs) experienced withdrawals totaling $133.16 million on Wednesday. The majority of these withdrawals came from Grayscale’s ETHE, which saw a significant $326.86 million in outflows on July 24. Wednesday Sees $133M Exit U.S. Ethereum ETFs, Grayscale’s ETHE Major Driver U.S. […]

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