Latest news with #bitcoin
Forbes
4 hours ago
- Business
- Forbes
Bright Ideas For Crypto Summer
Updated Jul 2, 2025, 01:56pm EDT June was a big month in Cryptoland. Despite bitcoin's strong gains, there are other alt-coins ready to capitalize on crypto's growing mainstream acceptance.
Yahoo
5 hours ago
- Business
- Yahoo
Bitcoin Miner IREN Hits 50 EH/s Midyear Hashrate Target, Eyes AI Expansion
Australian bitcoin (BTC) miner IREN (IREN) said it reached its midyear hashrate target of 50 exahashes per second (EH/s) installed self-mining capacity. The growth from 31 EH/s at the end of last year is anchored by IREN's 750MW site in Childress, Texas, the company formerly known as formerly Iris Energy, said in an announcement on Tuesday. Sydney-based IREN's attention is now on Horizon 1, a 50MW AI data center at Childress, which it says it set for delivery in the fourth quarter. Hashrate is a measurement of the computing power behind the Bitcoin network. The higher a company's hashrate, the higher its chances of mining new BTC and receiving the rewards that come with it. Rival CleanSpark (CLSK) also reached the milestone of 50 EH/s last month. "With 50 EH/s of mining expansion complete, we're now turning to our next frontier, leveraging the same execution discipline to scale AI infrastructure across high-growth compute markets," co-founder Daniel Roberts said in the statement. IREN's Nasdaq-listed shares closed over 4% higher at $14.57 on Monday. They were recently 4.12% lower in pre-market trading. Sign in to access your portfolio
Yahoo
7 hours ago
- Business
- Yahoo
Companies Pile Into Bitcoin as Grayscale Nabs ETF Green light
Publicly traded companies continue to explore bitcoin treasuries and they have been buying more BTC than ETF products for the third straight quarter according to a CNBC report. Plus, SEC green-lights Grayscale's new ETF products and Coinbase's new acquisition. CoinDesk's Jennifer Sanasie hosts 'CoinDesk Daily.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 hours ago
- Business
- Yahoo
Public Companies Buy More Bitcoin Than ETFs for Third Consecutive Quarter
Publicly traded companies are rapidly building bitcoin (BTC) reserves, buying more of the largest cryptocurrency than U.S. exchange-traded-funds (ETF) for the third straight quarter, according to CNBC. Corporations increased their bitcoin holdings by about 18% in the three months ended June 30, adding roughly 131,000 BTC. The ETF holdings grew 8%, or around 111,000 BTC, based on figures from Bitcoin ETFs still hold the largest stash of bitcoin among single entities, with over 1.4 million BTC, which makes up about 6.8% of bitcoin's capped supply of 21 million, according to CNBC. The last time ETFs surpassed public companies in bitcoin buying was back in third-quarter 2024, before U.S. President Donald Trump secured reelection. In April 2025, despite market volatility from Trump's tariff announcements, public companies expanded their bitcoin holdings by 4% outpacing the 2% growth seen among ETFs, according to CNBC. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 hours ago
- Business
- Yahoo
Asia Morning Briefing: Leverage Meets Patience as Bitcoin Builds Toward a Breakout
As Asia opens the Wednesday trading day, bitcoin (BTC) is changing hands above $105.5K, a slight correction from $107K, where it sat during the U.S. business day. Despite the geopolitical upheaval of the last few weeks – with the U.S. strike on Iran, an event that surprised both geopolitical scholars and Polymarket bettors – BTC has proven itself once again to be a resilient store of value. CoinDesk market data shows that the asset class has been fairly stable over the last month, up 1%. But this return to a price point that looks inches away from BTC's all-time high of $111K, which it hit in May, feels more disciplined than euphoric, according to market observers. Unlike the December 2024 breakout above $100K, which triggered a wave of profit-taking, long-term investors now appear content to sit on their gains, as Glassnode wrote in their weekly note. 'HODLing appears to be the dominant market mechanic,' Glassnode analysts wrote, citing a surge in long-term holder supply to 14.7 million BTC and historically low realized profits. On-chain activity indicates a limited desire to sell, even as BTC trades just below record levels. Metrics like the adjusted Spent Output Profit Ratio (aSOPR) also reflect this restraint, hovering just above breakeven, according to Glassnode. This suggests that the coins being spent are recent acquisitions. Think: tactical trades rather than broad distribution. Meanwhile, Glassnode data shows the Liveliness metric continues to decline, reinforcing that older coins remain dormant. That patience is being met with persistent institutional demand, as QCP wrote in its daily markets update. Market data indicates that $2.2 billion in net inflows to BTC spot ETFs occurred last week, with QCP describing the tone as 'constructive' and noting that players such as Strategy and Metaplanet continue to accumulate. These steady inflows are quietly reshaping the market's structure. Bitcoin's realized cap, a measure of the price at which coins last moved, has grown to $955 billion, which is likely a sign that real capital, not just speculation, is moving into the asset. Still, not everything is calm under the surface. QCP notes that leveraged long positions have been rising, with funding rates turning positive across major perpetual futures markets. Glassnode warns that 'the market may need to move higher, or lower, to unlock additional supply,' suggesting that this equilibrium between long-term conviction and short-term leverage won't hold forever. With BTC barely moving after the Senate approved the White House's 'Big Beautiful Bill', the market feels less like a stampede and more like a standoff between long-term holders who refuse to sell and short-term traders piling into leverage. That fragile equilibrium has market observers wondering where the next catalyst will come from and whether it could make BTC's next move explosive. Design software firm Figma has disclosed a $70 million position in the Bitwise Bitcoin ETF (BITB) as part of its IPO filing. The filing shows that board approved a $55 million BTC investment in March 2024, which has since appreciated by 27%. A separate May resolution greenlit a $30 million USDC purchase, earmarked for future conversion to BTC bringing the total planned allocation to $100 million. Recently, Hong Kong-based food conglomerate DDC Enterprise announced a $528 million capital raise this week, earmarked to buy 5,000 BTC over three years. DeFi Development Corp. , the first publicly traded U.S. company with a treasury strategy built around Solana (SOL), announced in a Tuesday press release that it plans to raise $100 million through a private offering of convertible senior notes due 2030. The offering, made under Rule 144A to qualified institutional buyers, includes an option for initial purchasers to acquire up to an additional $25 million in notes within 13 days of issuance. BTC: Bitcoin is holding around $106K, with on-chain data from Glassnode showing long-term holders largely unmoved. ETH: Ethereum faced heavy selling after failing to break resistance at $2,522, ending a volatile 24-hour session marked by a 4.5% trading range. Gold: Gold rose over 1% Tuesday, driven by a weaker dollar and global trade uncertainty, with spot prices hitting $3,357.85 and futures climbing to $3,353.80. S&P 500: U.S. stocks were mixed Tuesday as investors rotated out of tech, with the S&P 500 slipping 0.11% to close at 6,198.01. Binance to Keep Hundreds of Staff in Singapore Despite Crackdown (Bloomberg) NY Attorney General Letitia James warns stablecoin bills put Americans at risk, urges stronger oversight (The Block) High on DOGE? Cannabis Company Makes Dogecoin Treasury Play (Decrypt)
