The Himalayan nation of Bhutan plans to expand its Bitcoin mining operations fivefold ahead of the impending halving event in April. According to Bloomberg, Bhutan’s sovereign wealth fund Druk Holding & Investments is partnering with Bitcoin mining firm Bitdeer to ramp up capacity from 100 to 600 megawatts. The country has taken an institutional interest […]
Stocks rebounded Friday following the Dow Jones Industrial Average’s worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates. The 30-stock Dow climbed 307.06 points, or 0.8%, to settle at 38,904.04. The S&P 500 gained 1.11% to end the day at 5,204.34. The tech-heavy Nasdaq Composite advanced 1.24%, closing at 16,248.52. […]
Bitcoin mining profitability won’t necessarily fall after the upcoming Bitcoin halving, despite a 50% Bitcoin supply issuance reduction, Laurent Benayoun, the CEO of Acheron Trading, told Cointelegraph in an interview: “In dollar terms, it’s not obvious that miners would be worse off after the halving, quite the opposite […] The decrease in mining rewards is […]
Stocks have been tumbling this week. Investors are hoping the upcoming earnings season will help bring back this year’s banner rally. Analysts polled by FactSet expect first-quarter earnings of S&P 500 companies to grow 3.1% from the prior year. That would mark the third straight quarter of earnings growth. Full-year profits are expected to swell […]
The stock market could hit a milestone if the Dow Jones Industrial Average reaches 40,000. However, even as stocks have climbed higher, investors are worried there could be a pullback, financial advisors say. They’re not alone in those concerns. A recent CNBC survey of investment professionals found 61% think the market has run too far too fast and […]
Chinese internet giants are buying back their shares at a record pace, as they try to boost their market value in the midst of a historic stock rout in the world’s second largest economy. Alibaba Group (BABA) announced Tuesday that it had bought back $12.5 billion of shares from the US and Hong Kong markets, […]
The price of bitcoin (BTC) remained below $66,000 late in the day during U.S. trading hours Wednesday after a couple of modest rallies were met with quick selling action. At $65,800 at press time, bitcoin was flat over the past 24 hours. Dragged down by 10% declines in bitcoin cash (BCH) and litecoin (LTC) the […]
Bitcoin (BTC) outflows from the ARK 21Shares exchange-traded fund (ARKB) on Tuesday surpassed those of Grayscale’s Bitcoin Trust (GBTC) for the first time. Provisional data from Farside Investors shows ARKB saw nearly $88 million in outflows on Tuesday, more than GBTC’s $81 million. The two products were the only losers among the 11 ETFs. ARKB’s outflows […]
Volatility continues to be the name of the game in cryptocurrencies and today is no different. But unlike most of 2024, the market is working against investors today. As of 1:45 p.m. ET, the value of Bitcoin (CRYPTO: BTC) has dropped 2.8%, Ethereum (CRYPTO: ETH) is down 5.2%, and Bonk (CRYPTO: BONK) has fallen 9.4%. The move was impacted by a long holiday weekend in parts […]
Bitcoin is a global, decentralized currency that is beyond the control or guarantee of any country. Recent months in the Bitcoin ecosystem have been marked by a fever pitch of optimism based on the approval of Bitcoin spot market exchange-traded funds. These ETFs are driving Bitcoin’s adoption into the mainstream through the retirement accounts of […]
Hong Kong stocks led gains in Asia-Pacific markets on Tuesday as Xiaomi shares surged, while investors assessed economic data from South Korea and Australia. The Hang Seng index gained 2.18% as traders returned from a long weekend, with shares of Xiaomi jumping as much as 16% after the consumer electronics company began taking orders on […]
US stocks finished mixed to kick off 2024’s second quarter as US treasury yields rose. The S&P 500 (^GSPC) fell 0.2%, while the Dow Jones Industrial Average (^DJI) fell 0.6%. The tech-heavy Nasdaq Composite (^IXIC) closed slightly higher, though off its earlier session highs. US bonds sold off as the benchmark 10-year Treasury (^TNX) yield […]
