Analyses

Daily News Summary 23/7

July 23, 2024 Tóth Balázs
Back

HIVE Expands in Paraguay

HIVE Digital Technologies, a cryptocurrency mining company, has announced plans to build a new 100-megawatt (MW) mining facility in Paraguay. This new facility is expected to increase their Bitcoin mining capacity by an additional 6.5 Exahash per second (EH/s), bringing their total global EH/s to 12.1 EH/s. HIVE currently operates data centers in Canada, Sweden, and Iceland.

Spot ETH ETF Trading Begins Today

The U.S. Securities and Exchange Commission (SEC) has approved the launch of spot Ethereum exchange-traded funds (ETFs), with trading starting on July 23. Nine funds will begin trading, providing both institutional and retail investors the opportunity to purchase the second-largest cryptocurrency. ETH (ether) has a market capitalization of $400 billion and is the only token besides Bitcoin to have futures contracts traded on the CME exchange.

Marathon Digital Circumvents Partner

Marathon Digital, one of the largest Bitcoin mining companies, has been fined $138 million following a lawsuit filed by Michael Ho, co-founder of US Bitcoin Corp and strategic leader at Hut 8 mining company. The lawsuit claims that Marathon failed to compensate them for proprietary information shared, thereby breaching their non-circumvention agreement.

SingularityNET's $53 Million Investment

SingularityNET (AGIX), the world’s first decentralized artificial intelligence network, has invested $53 million in a modular supercomputer. This supercomputer is planned to serve decentralized artificial general intelligence (AGI) and will be the first of its kind dedicated to AGI and artificial superintelligence research.

First Native Yield-Bearing Stablecoin Now Available on Cosmos

The Noble blockchain and Ondo Finance teams have announced the launch of the Ondo US Dollar Yield (USDY) stablecoin on Cosmos. The USDY is a tokenized note backed by short-term U.S. Treasury bills and U.S. bank demand deposits, making it the first native yield-bearing dollar stablecoin in the ecosystem. With this launch, USDY will be accessible on networks such as Injective, Osmosis, Kujira, and Pyth.
Related categories
Recommended

You may also be interested in these articles!