Tag Archives: AA News

Hut 8 Corp. (HUT), a leading North American Bitcoin miner, announced its financial results for the second quarter ending June 30, 2024. The company reported a net loss of $71.9 million despite a 72% year-over-year revenue increase to $35.2 million. Hut 8’s Q2 Financial Results In an August 13 press release, Hut 8 reported that its revenue for the quarter ending June 30, 2024, rose to $35.2 million, up from $20.5 million in the same period last year. This growth was fueled by...

New research by Chainplay highlights a staggering 97% failure rate for meme coin projects since 2024. The data shows that meme coins have an average lifespan of just one year, while typical crypto projects last about three years. The Mortality Rate of Meme Coin Projects According to AlphaQuest, a crypto research tool, an average of 2,020 meme coin projects die each month. State of Memecoin 2024: High Risk, High Reward Memecoins: A rollercoaster of fortunes or a financial...

In a post on X on Aug. 16, crypto ESG advocate and researcher Daniel Batten posted a rebuttal to an Aug. 15 IMF report on Bitcoin mining emissions. He argued that the IMF report uses flawed rhetorical techniques, such as “guilt by association,” by linking Bitcoin mining with AI data centers’ energy consumption. The report titled “Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help” bundled crypto and AI together, labeling them as “power hungry” threats to...

TeraWulf’s second-quarter earnings report, released earlier in August, demonstrated mixed performance. While the company produced less BTC than in the same period in 2023, its revenue increased modestly compared to the estimated figures. TeraWulf’s Q2 Results The report revealed that TeraWulf mined 699 BTC across its Lake Mariner and Nautilus Cryptomine facilities, a 21% decrease from the same period last year. The firm’s revenue for the quarter, on the other hand, was $35.6...

Police are actively searching for four Chinese nationals believed to have broken into a luxury home in Pathum Thani, one of the central provinces of Thailand, and forced the resident to transfer $2 million (70 million baht) in crypto assets. The break-in took place around 2 AM on Wednesday in Tambon Ban Mai in the Muang district. Crypto Heist According to police reports, six residents, including three men and three women, occupied the house at the time of the incident. Ke...

The northern European country of Norway has a population of nearly 5.5 million. Moreover, the government’s investments for its citizens total some $1.7 trillion. A chunk of that is in Bitcoin stocks, and the government upped its holdings this year. Norway Sovereign Wealth Fund’s Bitcoin Spree Norway now indirectly owns 2,446 BTC through its investments in crypto stocks. That’s bullish news for Bitcoin. It paints an enticing picture of global sovereign support for the BTC...

While they are issued by smart contract blockchains with base layer currencies like Ethereum (ETH) and Solana (SOL), meme coins have fetched far greater gains in a shorter period of time than the most established cryptos. Bitcoin, for example, gained 347% from key price support at a Dec. 31, 2022 low level of $16,500 to an all-time high Bitcoin price of $73,800 on Mar. 14, 2024. Ether, meanwhile, gained 234% from a Dec. 31, 2022 low level of $1,200 to an all-time high...

On Aug. 15, crypto compliance and research firm Chainalysis released the first part of its 2024 crypto crime report. The firm revealed that aggregate illicit activity on-chain has dropped by 19.6% year-to-date, down from $20.9 billion to $16.7 billion. It added that this demonstrates “that legitimate activity is growing more quickly than illicit activity.” Part 1 of our mid-year #cryptocrime update is here! Illicit on-chain activity dropped by nearly 20% YTD, but stolen fund...

The Bitcoin network hashrate hit a new all-time high earlier this week following increased selling from smaller mining entities. At the same time, the miner hash price has plunged to a record low. According to a report from CryptoQuant, Bitcoin’s hashrate currently stands at 627 exahashes per second (EH/s), representing a significant recovery from an 8.5% drawdown in July. The spike comes as BTC struggles to remain above $58,000 and trades at a level 20% below its all-time...

Investigations into a multi-million dollar hack on the omnichain tokenization platform Holograph have begun to yield results. French authorities have arrested two individuals who may have been involved in the attack. According to a tweet by the official Holograph X account, the Italian Directorate of Anti-Mafia Investigations, in collaboration with multiple enforcement agencies, including Europol, France’s Office for the Prevention of Cybercrime, and the Paris Search and...