Bitmine Immersion Technologies secured $280 million through a Series A preferred stock offering to fund expansion into Ethereum-related infrastructure, shifting focus from Bitcoin mining to GPU-based computing for Ethereum staking and services. Despite the fundraising, Bitmine's shares fell over 10% on the day, reflecting investor caution amid execution risks and volatile trading. Analysts remain moderately optimistic with price targets averaging $34.50, but investors await clearer financial results from the new strategy. The funding aims to leverage Bitmine's immersion cooling tech to support high-density GPU setups critical for Ethereum's evolving ecosystem.
Bitcoin and Ether suffered their largest weekly declines since the 2022 FTX collapse, dropping 17.3% and 22% respectively, wiping out about $390 billion from the crypto market. The selloff was triggered by Strategy's bitcoin sale, heavy ETF outflows,...
Bitcoin dropped below $61,000, hitting an intraday low of $59,227, causing $172 million in leveraged long liquidations within an hour. The selloff was triggered by stronger-than-expected US jobs data, which raised expectations of less Federal Reserve...
Ethereum's price dropped near $1,560 following a significant transfer of 80,000 ETH (worth about $121.6 million) from a wallet linked to co-founder Joseph Lubin, which had been inactive for over three years. The ETH was moved to MakerDAO wallets and ...
Ethereum's market capitalization has fallen to about $186.263 billion, while Tether's stablecoin market cap rose to approximately $187.05 billion, marking a rare flip where Tether overtakes Ethereum. This shift is driven by increased demand for stabl...
James Wo, CEO of crypto investment firm DFG, argues bitcoin has stronger institutional support and safe-haven status than ether, which he believes won't reach new all-time highs soon. Wo points out that Ethereum's value is diluted by Layer-2 networks...
