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Hut 8 Secures $150 Million Funding to Venture into AI
The high-performance computing market is big enough for multiple bitcoin miners to win there, Hut 8 CEO says..$BTC
Several Bitcoin mining companies have increasingly vocalized their diversification strategies following the Bitcoin halving, with many venturing further into artificial intelligence.
Hut 8 is among them, recently announcing plans to build a high-performance computing (HPC) sector to support AI applications.
On Monday, the company revealed it had secured $150 million in funding through convertible bonds from technology-focused investment firm Coatue Management. The investor believes that the mining company is well-positioned to enhance its new computational capabilities and advance its AI segment.
Indeed, Hut 8 CEO Asher Genoot told Blockworks that he sees “hundreds of megawatts of opportunity” to expand upon the company’s existing footprint in this area.
He explained, “We believe that scale is significant in meeting some of the current market demands while providing us with ample capacity and growth in our Bitcoin mining operations.”
According to Yahoo Finance, Hut 8’s stock surged over 12% on Tuesday and climbed an additional 5% on Wednesday.
The high-performance computing market is big enough for multiple bitcoin miners to win there, Hut 8 CEO says..$BTC
Several Bitcoin mining companies have increasingly vocalized their diversification strategies following the Bitcoin halving, with many venturing further into artificial intelligence.
Hut 8 is among them, recently announcing plans to build a high-performance computing (HPC) sector to support AI applications.
On Monday, the company revealed it had secured $150 million in funding through convertible bonds from technology-focused investment firm Coatue Management. The investor believes that the mining company is well-positioned to enhance its new computational capabilities and advance its AI segment.
Indeed, Hut 8 CEO Asher Genoot told Blockworks that he sees “hundreds of megawatts of opportunity” to expand upon the company’s existing footprint in this area.
He explained, “We believe that scale is significant in meeting some of the current market demands while providing us with ample capacity and growth in our Bitcoin mining operations.”
According to Yahoo Finance, Hut 8’s stock surged over 12% on Tuesday and climbed an additional 5% on Wednesday.
What is NEAR Protocol?
NEAR Protocol is a blockchain that uses public proof of stake and sharded mechanisms. It is similar to a community-managed cloud platform that is highly scalable and low-cost for developers to create decentralized applications easily.
NEAR secures the management of critical assets like money and identity, while providing enough performance to make them useful, especially in putting the power of the Open Web into the hands of users.
Note that NEAR is not a side chain, not an ERC20 token or a specialized blockchain, but simply a 1-layer protocol designed to independently support the Open Web platform.
$NEAR
NEAR Protocol is a blockchain that uses public proof of stake and sharded mechanisms. It is similar to a community-managed cloud platform that is highly scalable and low-cost for developers to create decentralized applications easily.
NEAR secures the management of critical assets like money and identity, while providing enough performance to make them useful, especially in putting the power of the Open Web into the hands of users.
Note that NEAR is not a side chain, not an ERC20 token or a specialized blockchain, but simply a 1-layer protocol designed to independently support the Open Web platform.
$NEAR
What is Lista DAO?
Lista DAO is a Liquid Staking Derivatives (LSD) project operating within the BNB Chain ecosystem. It focuses on enhancing the liquidity of users’ assets. Lista DAO offers two main products: Collateralized Debt Positions (CDP) and Liquid Staking. Both are designed to optimize the use of assets that users hold within DeFi applications without requiring them to sell those assets
$LISTA
Lista DAO is a Liquid Staking Derivatives (LSD) project operating within the BNB Chain ecosystem. It focuses on enhancing the liquidity of users’ assets. Lista DAO offers two main products: Collateralized Debt Positions (CDP) and Liquid Staking. Both are designed to optimize the use of assets that users hold within DeFi applications without requiring them to sell those assets
$LISTA
What Is A CME Gap?
A CME gap refers to a price gap on the Bitcoin futures chart traded on the Chicago Mercantile Exchange (CME). These gaps occur because the CME futures market closes on weekends and public holidays, unlike the 24/7 trading environment of cryptocurrency exchanges. As a result, when the market reopens after a closure, the price of Bitcoin might move significantly, creating a gap between the closing price on Friday and the opening price on Monday.
Types of CME Gaps
A gap up occurs when the opening price on Monday is higher than the closing price on Friday. Following a gap up, the price can exhibit several movements. The price might continue to rise, indicating strong bullish momentum. Alternatively, the price could fall back to the level of the gap, filling it before potentially resuming its upward trend. In some cases, the price might decline significantly after the gap up, indicating a potential bearish reversal.
A gap down occurs when the opening price on Monday is lower than the closing price on Friday. Following a gap down, the price might continue to fall, indicating strong bearish momentum. The price could also rise back to the level of the gap, filling it before potentially resuming its downward trend. In other scenarios, the price might increase significantly after the gap down, indicating a potential bullish reversal.
How big should a CME gap be to be considered 'significant'?
The size of a CME gap that exerts significant influence on the cryptocurrency markets can vary, but generally, larger gaps tend to have a more pronounced effect. A gap's significance depends on several factors:
● Percentage of price movement: A gap that represents a substantial percentage of the asset’s price is more likely to draw attention. For example, a 5% or greater gap in Bitcoin's price is considered significant.
● Market context: The broader market conditions at the time of the gap can influence its impact. During periods of high volatility or major news events, even smaller gaps can be significant.
● Volume and liquidity: The trading volume and liquidity around the gap can also affect its significance. Gaps occurring during high-volume trading sessions are often more impactful.
● Historical patterns: Past behaviour of the asset in relation to similar gaps can provide context. If previous gaps of a certain size have consistently filled and led to significant price movements, similar future gaps will likely be watched closely
Types of CME Gaps
A gap up occurs when the opening price on Monday is higher than the closing price on Friday. Following a gap up, the price can exhibit several movements. The price might continue to rise, indicating strong bullish momentum. Alternatively, the price could fall back to the level of the gap, filling it before potentially resuming its upward trend. In some cases, the price might decline significantly after the gap up, indicating a potential bearish reversal.
A gap down occurs when the opening price on Monday is lower than the closing price on Friday. Following a gap down, the price might continue to fall, indicating strong bearish momentum. The price could also rise back to the level of the gap, filling it before potentially resuming its downward trend. In other scenarios, the price might increase significantly after the gap down, indicating a potential bullish reversal.
How big should a CME gap be to be considered 'significant'?
The size of a CME gap that exerts significant influence on the cryptocurrency markets can vary, but generally, larger gaps tend to have a more pronounced effect. A gap's significance depends on several factors:
● Percentage of price movement: A gap that represents a substantial percentage of the asset’s price is more likely to draw attention. For example, a 5% or greater gap in Bitcoin's price is considered significant.
● Market context: The broader market conditions at the time of the gap can influence its impact. During periods of high volatility or major news events, even smaller gaps can be significant.
● Volume and liquidity: The trading volume and liquidity around the gap can also affect its significance. Gaps occurring during high-volume trading sessions are often more impactful.
● Historical patterns: Past behaviour of the asset in relation to similar gaps can provide context. If previous gaps of a certain size have consistently filled and led to significant price movements, similar future gaps will likely be watched closely
Arkham Intelligence has announced a $150,000 reward for anyone who can identify the creator of the Solana-based token DJT, which surged by up to 500% on Monday amid unfounded rumors of a connection to Donald Trump.
“Let’s do this. $150,000 to whoever can definitively uncover the identity of $DJT’s creator,” the firm tweeted on June 18.
The bounty will remain open for eight days and will be paid in 100,000 Arkham (ARKM) tokens, valued at $1.56 each at the time of writing, according to CoinMarketCap.
$ARKM
“Let’s do this. $150,000 to whoever can definitively uncover the identity of $DJT’s creator,” the firm tweeted on June 18.
The bounty will remain open for eight days and will be paid in 100,000 Arkham (ARKM) tokens, valued at $1.56 each at the time of writing, according to CoinMarketCap.
$ARKM
