Hut 8 Corp. recently revealed its financial results for the second quarter of 2024, and it was not all good news for the leading North American Bitcoin miner. Despite experiencing a notable 72% year-over-year revenue increase to $35.2 million, the company still reported a substantial net loss of $71.9 million. This significant loss was primarily
Crypto
TeraWulf faced a significant setback in the second quarter of 2024 with a 21% decrease in BTC production compared to the same period in 2023. This decline in production can have serious implications for the company’s revenue and overall performance. It is imperative for TeraWulf to address the reasons behind this decrease and take corrective
Norway, with a population of nearly 5.5 million, has made headlines with its significant investments in Bitcoin. The government’s investments for its citizens total some $1.7 trillion, with a portion allocated to Bitcoin stocks. In fact, Norway now indirectly owns 2,446 BTC through its investments in crypto stocks, marking a bullish move for the cryptocurrency.
A recent ruling by the Dubai Court of First Instance has set a precedent by recognizing cryptocurrencies as a legitimate mode of salary payment in the United Arab Emirates. This landmark decision has significant implications for employment contracts in the region, highlighting the growing adoption of digital assets such as EcoWatt tokens (EWT) in the
Blockchain investigator ZachXBT recently uncovered a case involving North Korean developers who reportedly stole $1.3 million from a project’s treasury. These developers, hired under false identities, inserted malicious code into the system, enabling them to make an unauthorized transfer of funds. The stolen money was first sent to a theft address, then moved from Solana
In a recent report by Bitwise, it was revealed that U.S.-based institutional investors are continuing to show strong support for Bitcoin through spot ETFs. Despite market volatility and declining prices in the second quarter, approximately 66% of these investors either maintained or increased their holdings. This trend was highlighted by Bitwise’s chief investment officer, Matt
The cryptocurrency market faced a 2.5% decline in Bitcoin’s value on Wednesday, dropping to $59,100. This downfall was attributed to the U.S. government’s decision to transfer more of its Silk Road-affiliated Bitcoin holdings to Coinbase Prime. The move was detected by the on-chain analysis platform Arkham Intelligence, which highlighted the transfer of 10,000 BTC worth
Sahil Arora, an Indian entrepreneur based in Dubai, has made headlines for his association with high-profile celebrity-backed meme coins. His journey in the digital asset world began in 2017 with the launch of Vuzelaa Group in India, which aimed to install Bitcoin ATMs globally. While his early projects like ZelaaPayAE and ZelaaNFT did not succeed,
The world of cybersecurity is constantly evolving, with new threats emerging each year. One of the most significant trends in 2024 is the notable rise in stolen funds and ransomware attacks. According to recent reports, the amount of stolen funds in crypto scams has almost doubled from $857 million to $1.58 billion by late July.
Metaplanet has recently made a significant investment in bitcoin, purchasing approximately $3.3 million worth of the cryptocurrency. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With the latest purchase, Metaplanet now possesses a total of 303.095 BTC acquired for $20 million. It is clear that the company
