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Northern Data secures $610 million in financing from Tether Group for expansion
Northern Data AG (ETR:NB2), one of Europe's leading Bitcoin miners, provided $610 million in unsecured debt financing from a company within the Tether Group. The loan, which matures in 2030, aims to support Northern Data's three main business lines: Taiga Cloud, Ardent Data Centers and Peak Mining.
The funding will primarily be directed towards enhancing Taiga Cloud's AI capabilities through the procurement of advanced hardware. It will also support the growth of Ardent Data Centers and increase Bitcoin mining operations through Peak Mining, which uses liquid-cooled mining technology.
This expansion initiative follows advancements in #ASIC technology that has significantly increased crypto mining efficiency while reducing environmental impact. ASICRUN's innovative models AR1, AR2 and EliteAR miners are leading this technological advancement with their superior hash rates and energy efficiency. Under current market conditions, these miners can generate significant income in Bitcoin, Litecoin and Dash.
Tether Group's relationship with Northern Data dates back to September, when it acquired a stake in the company and entered the artificial intelligence space. As of its Q3 certification report, held total reserves of $86.4 billion against liabilities of $83.2 billion and reported an excess reserve of $3.2 billion. Tether, the issuer of USDT, currently has a market cap of $84.9 billion, according to .
The significant loan offered to Northern Data is expected to significantly enhance the company's operations and impact its position as a leading miner in Europe.
Northern Data AG (ETR:NB2), one of Europe's leading Bitcoin miners, provided $610 million in unsecured debt financing from a company within the Tether Group. The loan, which matures in 2030, aims to support Northern Data's three main business lines: Taiga Cloud, Ardent Data Centers and Peak Mining.
The funding will primarily be directed towards enhancing Taiga Cloud's AI capabilities through the procurement of advanced hardware. It will also support the growth of Ardent Data Centers and increase Bitcoin mining operations through Peak Mining, which uses liquid-cooled mining technology.
This expansion initiative follows advancements in #ASIC technology that has significantly increased crypto mining efficiency while reducing environmental impact. ASICRUN's innovative models AR1, AR2 and EliteAR miners are leading this technological advancement with their superior hash rates and energy efficiency. Under current market conditions, these miners can generate significant income in Bitcoin, Litecoin and Dash.
Tether Group's relationship with Northern Data dates back to September, when it acquired a stake in the company and entered the artificial intelligence space. As of its Q3 certification report, held total reserves of $86.4 billion against liabilities of $83.2 billion and reported an excess reserve of $3.2 billion. Tether, the issuer of USDT, currently has a market cap of $84.9 billion, according to .
The significant loan offered to Northern Data is expected to significantly enhance the company's operations and impact its position as a leading miner in Europe.
An American mining company has opened a data center in #Argentina to mine #bitcoin using energy from 🔥 burning associated gas.
This would power 1,200 #ASIC miners from a thermal power plant, which would burn gas that would have been burned anyway, and its heat would wastefully heat the atmosphere, exacerbating the 🌳greenhouse effect.
We previously reported that the coal company 🔨 mined 425 $BTC , also using its own surplus energy. It seems that green mining is becoming a trend.
#BTC #BinanceLaunchpool
This would power 1,200 #ASIC miners from a thermal power plant, which would burn gas that would have been burned anyway, and its heat would wastefully heat the atmosphere, exacerbating the 🌳greenhouse effect.
We previously reported that the coal company 🔨 mined 425 $BTC , also using its own surplus energy. It seems that green mining is becoming a trend.
#BTC #BinanceLaunchpool
🚀🚀🚀 #Blockstream Gears Up for Mining with $5M Raise: New #ASIC Miners on the Horizon 🚀🚀🚀
Bitcoin mining leader Blockstream has successfully secured $5.07 million in its Series 1 "BASIC Note" raise. This funding will primarily fuel the acquisition of new, high-performance #Antminer S19k Pro ASIC miners, solidifying Blockstream's position in the mining landscape.
Key points:
1. $5M Series 1 Raise: Blockstream secured $5.07 million through its innovative BASIC Note investment instrument.
2. ASIC Miner Acquisition: A significant portion of the funds will be used to purchase powerful Antminer S19k Pro ASIC miners.
3. Partnership with SunnySide Digital: Blockstream has partnered with SunnySide Digital to facilitate the miner acquisition at a secured price.
4. Boosting Mining Capacity: The new miners will enhance Blockstream's Bitcoin mining capabilities and potentially increase its revenue.
Potential implications:
- Increased Hashrate: The acquisition of new miners could lead to a higher hash rate for Blockstream, contributing to network security and stability.
- Competitive Edge: Expanding its mining capacity could provide Blockstream with a competitive advantage in the Bitcoin mining industry.
- Further Investment in Blockchain Technology: The remaining funds from the raise may be used to support further development and innovation within the blockchain space.
This move by Blockstream highlights the growing importance of mining within the Bitcoin ecosystem and the potential for innovative financial instruments like the BASIC Note to attract investment.
Stay tuned for further updates on Blockstream's mining endeavors and the potential impact on the Bitcoin network.
#ASICMINER #BinanceSquare
Bitcoin mining leader Blockstream has successfully secured $5.07 million in its Series 1 "BASIC Note" raise. This funding will primarily fuel the acquisition of new, high-performance #Antminer S19k Pro ASIC miners, solidifying Blockstream's position in the mining landscape.
Key points:
1. $5M Series 1 Raise: Blockstream secured $5.07 million through its innovative BASIC Note investment instrument.
2. ASIC Miner Acquisition: A significant portion of the funds will be used to purchase powerful Antminer S19k Pro ASIC miners.
3. Partnership with SunnySide Digital: Blockstream has partnered with SunnySide Digital to facilitate the miner acquisition at a secured price.
4. Boosting Mining Capacity: The new miners will enhance Blockstream's Bitcoin mining capabilities and potentially increase its revenue.
Potential implications:
- Increased Hashrate: The acquisition of new miners could lead to a higher hash rate for Blockstream, contributing to network security and stability.
- Competitive Edge: Expanding its mining capacity could provide Blockstream with a competitive advantage in the Bitcoin mining industry.
- Further Investment in Blockchain Technology: The remaining funds from the raise may be used to support further development and innovation within the blockchain space.
This move by Blockstream highlights the growing importance of mining within the Bitcoin ecosystem and the potential for innovative financial instruments like the BASIC Note to attract investment.
Stay tuned for further updates on Blockstream's mining endeavors and the potential impact on the Bitcoin network.
#ASICMINER #BinanceSquare
ASIC Sues eToro Over Misleading CFD Product Targeting and Screening Practices 😰
The Australian Securities and Investments Commission (#ASIC ) has sued #eToro , a trading platform, over their leveraged trading product called Contract for Difference (#CFD ).
ASIC alleges that eToro's screening test for the CFD product was ineffective in excluding unsuitable customers, leading thousands of users to lose money.
The regulator also claims that eToro's target market was too broad, allowing users with no understanding of CFD trading risks to participate.
Between October 2021 and June 2023, nearly 20,000 of eToro's clients reportedly lost money trading CFDs. In the United States, eToro had halted trading in four cryptocurrencies after they were labeled as securities in lawsuits by the #SEC .
#Binance
The Australian Securities and Investments Commission (#ASIC ) has sued #eToro , a trading platform, over their leveraged trading product called Contract for Difference (#CFD ).
ASIC alleges that eToro's screening test for the CFD product was ineffective in excluding unsuitable customers, leading thousands of users to lose money.
The regulator also claims that eToro's target market was too broad, allowing users with no understanding of CFD trading risks to participate.
Between October 2021 and June 2023, nearly 20,000 of eToro's clients reportedly lost money trading CFDs. In the United States, eToro had halted trading in four cryptocurrencies after they were labeled as securities in lawsuits by the #SEC .
#Binance
Bitcoin miners double down on efficiency and renewable energy at the World Digital Mining Summit
Bitmain rolled out its efficiency-focused Antminer S21 at the WDMS, and Bitcoin miners shared their plans for boosting productivity via green energy.
With electricity costs continuing to rise year-over-year and the Bitcoin halving projected to occur in April 2024, ASIC efficiency is quickly becoming the paramount focus of miners, and many are also pivoting toward folding in renewable energy sources as a core component of their operations.
#LucidHoang #Ufin #ASIC #BTC
Bitmain rolled out its efficiency-focused Antminer S21 at the WDMS, and Bitcoin miners shared their plans for boosting productivity via green energy.
With electricity costs continuing to rise year-over-year and the Bitcoin halving projected to occur in April 2024, ASIC efficiency is quickly becoming the paramount focus of miners, and many are also pivoting toward folding in renewable energy sources as a core component of their operations.
#LucidHoang #Ufin #ASIC #BTC
On September 19, the law enforcement agencies of #Venezuela conducted a raid on Tokoron prison in the city of Maracay, confiscating several dozen #ASIC miners and a massive weapons cache. #France24 reported this operation.
The large-scale operation involved over 11,000 #police officers and soldiers, with support from tanks and armored vehicles. One special forces officer was killed.
The prison had been under the control of the country's largest gang, "Tren de Aragua," for several years, serving as their headquarters.
In addition to a room for cryptocurrency mining, the prison's premises included casinos, nightclubs, restaurants, a baseball field, and a zoo with exotic animals. Some of these animals perished in a fire that broke out during the raid. According to the Venezuelan Ministry of Interior, approximately 1,600 inmates were held in slavery by the gang leaders. After taking control of the prison, some managed to escape, while the rest were transferred to other correctional facilities.
Among the items confiscated, authorities displayed rocket launchers, sniper rifles, grenade launchers, explosives, machine gun belts, drugs, and expensive motorcycles. The "Tren de Aragua" gang consists of approximately 5,000 members and is known to be involved in criminal activities not only in Venezuela but also in Colombia, Brazil, Peru, Ecuador, Chile, and Bolivia.
It is worth noting that in late June, the Malaysian electricity provider Sarawak Energy discovered a cryptocurrency mining farm on the island of Borneo whose owners were engaged in illegal #cryptocurrency mining.
The large-scale operation involved over 11,000 #police officers and soldiers, with support from tanks and armored vehicles. One special forces officer was killed.
The prison had been under the control of the country's largest gang, "Tren de Aragua," for several years, serving as their headquarters.
In addition to a room for cryptocurrency mining, the prison's premises included casinos, nightclubs, restaurants, a baseball field, and a zoo with exotic animals. Some of these animals perished in a fire that broke out during the raid. According to the Venezuelan Ministry of Interior, approximately 1,600 inmates were held in slavery by the gang leaders. After taking control of the prison, some managed to escape, while the rest were transferred to other correctional facilities.
Among the items confiscated, authorities displayed rocket launchers, sniper rifles, grenade launchers, explosives, machine gun belts, drugs, and expensive motorcycles. The "Tren de Aragua" gang consists of approximately 5,000 members and is known to be involved in criminal activities not only in Venezuela but also in Colombia, Brazil, Peru, Ecuador, Chile, and Bolivia.
It is worth noting that in late June, the Malaysian electricity provider Sarawak Energy discovered a cryptocurrency mining farm on the island of Borneo whose owners were engaged in illegal #cryptocurrency mining.
Micro Bitcoin mining devices, which are often open-source and pocket-sized, serve a niche market for those interested in mining Bitcoin (BTC) solo. While these devices may not generate significant profits for users, their creators argue that they help combat the secrecy and exclusivity of the Bitcoin mining industry. BitMaker, a company that has been working on micro miners since June 2022, claims that one can be made for as little as $3, offering an output of 50 kilohashes per second.
The developers behind these devices argue that well-known #bitcoin #ASIC #mining #rigs are closed-source, unlike Bitcoin's source code, which has led to the manufacturing and supply of Bitcoin miners being limited to commercialized entities. Skot, a builder of Bitaxe miners, explained that open-sourcing the design enables much-needed transparency in the industry. He acknowledged that buyers shouldn't expect to earn much Bitcoin right away, but emphasized that the purpose of the portable miners isn't about profit, but rather about learning, understanding, and being part of a community. These portable miners also offer an opportunity for people to run a rig at home without needing to pay for a clunky, overheated, and expensive mining rig.
$BTC
The developers behind these devices argue that well-known #bitcoin #ASIC #mining #rigs are closed-source, unlike Bitcoin's source code, which has led to the manufacturing and supply of Bitcoin miners being limited to commercialized entities. Skot, a builder of Bitaxe miners, explained that open-sourcing the design enables much-needed transparency in the industry. He acknowledged that buyers shouldn't expect to earn much Bitcoin right away, but emphasized that the purpose of the portable miners isn't about profit, but rather about learning, understanding, and being part of a community. These portable miners also offer an opportunity for people to run a rig at home without needing to pay for a clunky, overheated, and expensive mining rig.
$BTC
🚨🚨🚨 #Crypto exchanges in Australia 🇦🇺 will soon be required to hold a financial-services license.
Digital-asset platforms that hold more than A$5 million ($3.2 million), or A$1,500 for an individual, must get a permit from the Australian Securities and Investments Commission or #ASIC .
#BinanceSquare #trading
Digital-asset platforms that hold more than A$5 million ($3.2 million), or A$1,500 for an individual, must get a permit from the Australian Securities and Investments Commission or #ASIC .
#BinanceSquare #trading
