72. CleanSpark's big plans
Bitcoin miner, Cleanspark announces an $800M at-the-market offering. The announcement comes several months after mining giants Riot and Marathon announced their own $750M ATM’s. The race for exahash supremacy is on! Cleanspark sees a path to 50 Eh/s.
Crypto Corner
OKX's Global Compliance Chief, Patrick Donegan, left the company after a tenure of six months. According to his LinkedIn profile.
Sam Bankman-Fried, following his unprecedented fraud, is facing a 25-year prison sentence, forfeiture of more than a billion dollars, and is mandated to provide restitution to his victims, as per U.S. Attorney Damian Williams' statement.
Memecoins tied to Sam Bankman-Fried experienced a pump and dump cycle following news of the former FTX CEO's 25-year prison sentence.
Blockchain merges monetary theory to improve crypto utility in payments, stabilizing currencies and democratizing trading strategies.
Dogwifhat has become the third-largest meme coin as Bitcoin holds around $70,000. WIF briefly reached $4 on Friday before retreating, highlighting the high volatility in the meme coin sector despite relatively stable market conditions.
A $7.5 billion AI crypto token merger is set for a community vote on April 2. The projects expressed excitement about the alliance, aiming to leverage their combined knowledge and expertise.
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Business Launches
NFT Spotlight
NFT of the week: Silenciar #17
Ethereum has regained its position as the top platform for daily NFT sales, recording $17.02 million in transactions.
NYCC (New York Comic Con) plans to revolutionize the fashion industry by leveraging the Enjin blockchain technology at the NFT.NYC 2024 event.
Web3 ad service Everyworld has attracted 225,000 users within just a month of launching its beta version. The service is currently available in beta for select markets.
Bitcoin Buzz
Bitcoin is showing signs of exhaustion as its price gains for the first quarter approach 70%. Although there are reasons to be "very bullish" for the second quarter, experts at QCP Capital note that the rapid pace of the Bitcoin and cryptocurrency bull market may raise concerns.
Bitwise executive Matthew Hougan stated that Bitcoin is expected to attract $1 trillion from institutions amid the "raging bull market." He advised traders to "keep calm and take the long view.
Newly launched Bitcoin ETFs now hold 500,000 BTC, while outflows from Grayscale's Bitcoin Trust (GBTC) have slowed down. These spot Bitcoin ETFs, excluding Grayscale's, have accumulated $35 billion worth of Bitcoin in just 54 days of trading.
The open interest in Bitcoin Cash has surged past $700 million ahead of its upcoming halving. This level of open interest hasn't been seen since May 2021, when the price of Bitcoin Cash was nearly 2.5 times higher.
Bitcoin Miners’ Marvels
Crypto mining company Bitdeer is seeking $100 million in financing from private credit firms.
Bitcoin mining company CleanSpark saw its stock price plunge by 10% after announcing an $800 million share offering. This offering, considering CleanSpark's market capitalization of $4.2 billion, would dilute CLSK shares by approximately 19%.
Hut 8 has reported a 32% increase in revenue amid the recent Bitcoin rally.
Argo Blockchain sells Mirabel data center for $6.1 million, reducing debt by $12.4 million, but shares plummet 55% in 2024 on LSE and NASDAQ.
Crypto chip company Katena has won a lawsuit filed by Bitcoin miner Coinmint. An arbitration panel ruled that Katena did not mislead or deceive Coinmint, awarding the chipmaker $14 million.
Pennsylvania State and a crypto miner are being sued for polluting the environment.
Quote Of The Week:
“We cannot solve problems with the kind of thinking we employed when we came up with them.” —Albert Einstein
That’s it for this week all. Have an amazing Easter weekend!