2024-03-04 13:20

Copyrighted Image by: Reuters EASTON, Md. - TeraWulf Inc. (NASDAQ:WULF), a company specializing in environmentally clean bitcoin mining, has provided an update on its operational progress for February 2024. As of the end of February, TeraWulf's self-mining hashrate reached 7.9 exahashes per second (EH/s), a significant step towards their mid-2024 goal of achieving a capacity of 10 EH/s. In February, the company mined 364 bitcoin, marking a 16% increase from the previous month. This growth is attributed to the full deployment of Building 3 at its Lake Mariner facility. The average operating hashrate saw a month-over-month increase of 39% to 7.5 EH/s. The power cost for mining averaged $13,968 per bitcoin, or about $0.037 per kilowatt-hour, excluding potential proceeds from demand response or ancillary services. The increase in mining capacity is partly due to the acquisition of roughly 4,000 Bitmain S19k Pro miners in February, some of which are intended to replace approximately 2,000 MinerVa miners at Lake Mariner. The construction of Building 4, with a capacity of 35 MW, at the Lake Mariner facility is advancing and is expected to complete by mid-2024. TeraWulf operates two bitcoin mining facilities in the United States, the wholly-owned Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. The company emphasizes its commitment to zero-carbon energy, with its operations powered by more than 95% zero-carbon energy sources, including nuclear, hydro, and solar. The press release also mentioned that TeraWulf is pursuing a potential large-scale, high-performance computing (HPC) project at the Lake Mariner site, with an initial 2 MW block of power allocated for thousands of the latest generation graphics processing units (GPUs). This operational update is based on unaudited figures and remains subject to standard month-end adjustments. The company's share of earnings or losses from the Nautilus Cryptomine facility is reflected within equity in net income or loss of investee, net of tax, and not in revenue, cost of revenue, or cost of operations lines in TeraWulf's consolidated statements of operations. https://www.investing.com/news/cryptocurrency-news/terawulf-ramps-up-bitcoin-mining-capacity-93CH-3323266

2024-03-04 09:28

Copyrighted Image by: Reuters Investing.com -- Bitcoin touched a two-year high on Monday, as an influx of cash into exchange-traded funds linked to the world's most recognizable cryptocurrency pushed it above $65,000 and closer to new record levels. By 04:25 ET (09:25 GMT), the token had risen by 5.7% to $65,015.60. In earlier trading in Asia, Bitcoin had jumped to $64,285, its highest since 2021. So far this year, the digital asset has gained more than 50% in market value. Crypto-exposed stocks, which have been beneficiaries of the recent rally in Bitcoin, drove higher in premarket trading on Wall Street. Top U.S. crypto exchange Coinbase Global (NASDAQ:COIN), as well as crypto miners Marathon Digital (NASDAQ:MARA), Riot Platforms (NASDAQ:RIOT) and CleanSpark (NASDAQ:CLSK), all gained prior to the opening bell in New York. Bitcoin’s stellar performance in 2024 has been spurred on in part by the recent U.S. approval of ETFs that directly track the price of the cryptocurrency. The approvals have sparked a sharp uptick in institutional capital into the token. Ethereum, a key peer to Bitcoin, has been boosted by hopes that it too may soon have ETFs following its price. It had risen by 3.9% to $3,520.90 on Monday, hovering around two-year highs notched last week. https://www.investing.com/news/cryptocurrency-news/bitcoin-tops-65000-as-token-pushes-toward-record-highs-3322757

2024-03-04 08:01

Investing.com - EOS was trading at $1.0534 by 11:27 (15:27 GMT) on the Investing.com Index on Saturday, up 10.14% on the day. It was the largest one-day percentage gain since March 7. The move upwards pushed EOS's market cap up to $1.1746B, or 0.05% of the total cryptocurrency market cap. At its highest, EOS's market cap was $17.5290B. EOS had traded in a range of $0.9695 to $1.0539 in the previous twenty-four hours. Over the past seven days, EOS has seen a rise in value, as it gained 2.35%. The volume of EOS traded in the twenty-four hours to time of writing was $147.7349M or 0.17% of the total volume of all cryptocurrencies. It has traded in a range of $0.8808 to $1.0539 in the past 7 days. At its current price, EOS is still down 95.42% from its all-time high of $22.98 set on April 29, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $64,816.6 on the Investing.com Index, up 1.49% on the day. Ethereum was trading at $3,387.14 on the Investing.com Index, a gain of 3.03%. Bitcoin's market cap was last at $1,278.3590B or 51.52% of the total cryptocurrency market cap, while Ethereum's market cap totaled $408.8200B or 16.48% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/eos-climbs-10-as-investors-gain-confidence-3350571

2024-03-04 07:05

Investing.com - Cardano was trading at $0.7927 by 02:05 (07:05 GMT) on the Investing.com Index on Monday, up 11.28% on the day. It was the largest one-day percentage gain since December 13, 2023. The move upwards pushed Cardano's market cap up to $27.9940B, or 1.17% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $94.8001B. Cardano had traded in a range of $0.7236 to $0.7928 in the previous twenty-four hours. Over the past seven days, Cardano has seen a rise in value, as it gained 33.68%. The volume of Cardano traded in the twenty-four hours to time of writing was $1.2410B or 1.11% of the total volume of all cryptocurrencies. It has traded in a range of $0.5983 to $0.7928 in the past 7 days. At its current price, Cardano is still down 74.42% from its all-time high of $3.10 set on September 2, 2021. Elsewhere in cryptocurrency trading Bitcoin was last at $63,627.9 on the Investing.com Index, up 2.84% on the day. Ethereum was trading at $3,470.23 on the Investing.com Index, a gain of 1.68%. Bitcoin's market cap was last at $1,251.0564B or 52.27% of the total cryptocurrency market cap, while Ethereum's market cap totaled $417.2733B or 17.43% of the total cryptocurrency market value. https://www.investing.com/news/cryptocurrency-news/cardano-climbs-11-as-investors-gain-confidence-3322654

2024-03-04 05:41

Copyrighted Image by: Reuters. Investing.com-- Gold prices swelled to settle at an all-time high on Monday, underpinned by ongoing geopolitical tensions and bets on a Fed rate cuts ahead of testimony from Federal Reserve chairman Jerome Powell later this week. Spot gold rose 1.5% to settled at a record of $2,126.30, while gold futures expiring in April 1.4% to $2,125.65 an ounce. Gold’s gains were driven by some soft U.S. economic data spurring bets that the Fed will cut interest rates by June. But anticipation of more cues from the central bank saw traders once again step back from big bets on the yellow metal. Other precious metals also retreated on Monday. Platinum futures rose 1.9% to $904.75 an ounce, while silver futures rose 3.3% to $24.14 an ounce. Powell testimony, nonfarm payrolls awaited Markets were now focused squarely on a two-day testimony by Fed Chair Jerome Powell this week, for any more cues on the path of interest rates. Analysts expect Powell to reiterate his stance that the Fed will need more convincing that inflation is moving back towards the bank’s 2% annual target, with the Fed chair widely expected to maintain a hawkish tilt. But traders were still pricing in a greater chance for a 25 basis point cut in June, according to the CME Fedwatch tool. After Powell’s testimony, focus is also on key nonfarm payrolls data for February, due on Friday. A cooling labor market is also one the Fed’s main considerations for altering interest rates. Copper prices creep lower before more China cues, ANZ says watch India Among industrial metals, copper futures expiring in May fell 0.4% to $3.8443 a pound, with markets turning cautious towards the red metal ahead of key signals from top importer China. China is set to hold its 2024 National People’s Congress on Tuesday, and will likely roll out more stimulus measures while also providing economic forecasts for 2024. Fears of slowing Chinese demand rattled copper prices over the past two years, as a post-COVID economic recovery in the country failed to materialize. But ANZ analysts said that surging growth in India could help offset a demand slowdown in China. Recent data showed India remaining as the world’s fastest growing economy in 2023, with sustained infrastructure spending in the country likely to drive up copper demand. https://www.investing.com/news/commodities-news/gold-prices-steady-near-2mth-high-before-fed-dataheavy-week-3322639

2024-03-04 04:42

Copyrighted Image by: Reuters. Investing.com-- Most Asian currencies kept to a tight range on Monday, while the dollar steadied from recent losses as markets awaited more cues on U.S. interest rates from the Federal Reserve and key payrolls data this week. Focus was also on China’s annual congress this week, where the government is widely expected to unveil more stimulus measures to support Asia’s largest economy. Dollar muted with Powell testimony, nonfarm payrolls on tap The dollar index and dollar index futures moved little in Asian trade on Monday, after clocking two straight weeks of losses. The greenback was hit by growing conviction that the Fed will begin cutting interest rates in June. Softer-than-expected consumer sentiment data and in-line PCE price index data fueled this notion over the past week. Speculation over interest rates put an upcoming testimony by Fed Chair Jerome Powell squarely in focus, where analysts expect him to largely reiterate that interest rates will remain sticky in the near-term. “We expect him to stick pretty much to the same script he has been using since the January FOMC meeting, namely: the Fed needs more convincing evidence that inflation is on track to get back to 2%,” ANZ analysts wrote in a note. Focus this week is also on nonfarm payrolls data for February, due Friday, given that labor market strength is also one of the Fed’s main considerations for adjusting interest rates. Anticipation of more Fed cues kept Asian markets rangebound. The Japanese yen hovered around the 150 mark to the dollar, with key Tokyo inflation data due on Tuesday set to offer more cues on the Japanese economy. The Australian dollar was flat ahead of fourth-quarter GDP data, which is expected to show some resilience in the Australian economy. The Singapore dollar and South Korean won were flat, while the Indian rupee fell slightly after clocking some gains last week following stronger-than-expected GDP data. Chinese stimulus cues awaited, yuan muted The Chinese yuan tread water on Monday, with traders keeping away from big bets before the 2024 National People’s Congress. Beijing is widely expected to roll out more stimulus measures to support a slowing economic recovery, especially as it grapples with a property market crisis and a worsening deflationary trend. The Chinese government is also set growth targets for the year, with analysts predicting a GDP target of 5%, same as 2023. https://www.investing.com/news/forex-news/asia-fx-muted-dollar-steady-with-powell-payrolls-in-focus-3322627