British Columbia Ban New Crypto Mining Connections

The government of British Columbia is banning new crypto mining connections to the hydro power grid, citing unprecedented electricity demand. In a statement on Monday, the British Columbia (BC) government announced a set of new legislation aimed at stimulating the economy and helping the state-owned electric utility provider BC Hydro address its power availability. “There…

Bitcoin Price Eyes Drop to $74K as Whale Opens Another $140M BTC Short

Key takeaways: Bitcoin’s rising wedge pattern suggests a potential drop to $74,000 if a key support level fails. A new whale has placed $140 million in short bets on BTC. Bitcoin’s (BTC) technical setup suggests a deeper correction to $74,000 is possible, as whales have increased their short exposure to BTC. Bitcoin’s rising wedge targets…

BitMine Buys $250M in Ethereum as Holdings Near 5 Percent Target

BitMine chairman Tom Lee has confirmed the company went on an Ether buying spree after the crypto market saw one of its most significant deleveraging events earlier this month.  “Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500, given the expected Supercycle for Ethereum,…

British Columbia Ban New Crypto Mining Connections

The local government of British Columbia is banning new crypto mining connections to the hydro power grid, citing unprecedented electricity demand. In a statement on Monday, the British Columbia (BC) government announced a set of new legislation aimed at stimulating the economy and helping the state-owned electric utility provider BC Hydro address its power availability….

BTC Holds Steady as Market Resets After Leverage Flush

Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Bitcoin is trading around $110,300 Tuesday morning Hong Kong time as…

BitMine Buys $250M in Ethereum as Holdings Near 5 Percent Target

BitMine chairman Tom Lee has confirmed the company went on an Ether buying spree after the crypto market saw one of its most significant deleveraging events earlier this month.  “Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500, given the expected Supercycle for Ethereum,…

BitMine Buys $250M in Ethereum as Holdings Near 5 Percent Target

BitMine chairman Tom Lee has confirmed the company went on an Ether buying spree after the crypto market saw one of its most significant deleveraging events earlier this month.  “Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500, given the expected Supercycle for Ethereum,…

Senate to vote on shutdown as lawmakers meet crypto leaders

The US government is approaching its fourth week of shutdown, with a Senate vote scheduled for Monday evening to end the funding impasse, and a separate meeting on Wednesday where lawmakers and crypto executives will discuss the long-stalled crypto market structure bill.  The Senate will vote at 5:30 p.m. ET for the 11th time in…

XRP Whales Confident in a Price Rally to $3 as Exchange Balances Dwindle

Key takeaways: The number of XRP whale addresses hit record highs of 317,500, indicating accumulation. XRP price must first break the $2.59 resistance for a chance to regain $3. XRP (XRP) bounced from Friday’s lows of $2.18, rising as much as 13% to an intraday high of $2.48 on Monday. A strong technical setup and…

CleanSpark Shares Rise 13% After Bitcoin Miner’s AI Expansion

Nasdaq-listed Bitcoin mining company CleanSpark’s shares soared over 13% on Monday, after the company announced a strategic expansion into artificial intelligence. CleanSpark, the fifth-largest Bitcoin (BTC) mining company by market capitalization, announced a new strategy to expand into AI data center infrastructure, aiming to diversify its revenue streams and strengthen long-term cash flow potential. To…