Tag: btc

Canaan’s BTC Miners Load Balance Electric Grid in Japan

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Mining hardware producer Canaan has won a contract to supply 4.5 megawatts (MW) of Bitcoin mining application-specific integrated circuits (ASICs) for a project designed to help stabilize Japan’s electric grid. According to a Thursday announcement, the company will supply an electrical engineering solutions provider with Bitcoin mining ASICs with a capacity of 4.5 MW for the project. The project will deploy Canaan’s new Avalon A1566HA-488T water-cooled mining ASICs for “real-time grid balancing and energy-efficiency optimization,” Canaan said. The mining operation will run continuously and utilize controlled overclocking and underclocking, adjusting…

Coinbase’s Bitcoin Holdings Rose by 2,772 BTC in Q3

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Coinbase’s Bitcoin stash grew by 2,772 BTC during the third quarter as it doubled down on its Bitcoin strategy and continued work to become an “Everything Exchange.” Coinbase’s Bitcoin (BTC) holdings have now reached 14,548 BTC, valued at $1.57 billion, according to its Q3 report on Thursday. Meanwhile, net income increased over fivefold to $432.6 million year-on-year, and total revenue rose to $1.9 billion, up 55% from a year ago.  This was bolstered by transaction revenue, which climbed to $1.05 billion, while subscription revenue — including stablecoin revenue and blockchain…

Coinbase boosts Bitcoin holdings by 2,772 BTC in Q3, CEO Armstrong confirms

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Key Takeaways Coinbase acquired 2,772 BTC in the third quarter, confirmed by CEO Brian Armstrong. The move signals Coinbase’s growing strategy to hold Bitcoin as a long-term reserve asset. Share this article Coinbase, a prominent US crypto exchange, increased its Bitcoin holdings by 2,772 BTC during the third quarter, CEO Brian Armstrong confirmed today. The acquisition reflects Coinbase’s ongoing strategy to accumulate Bitcoin as a long-term reserve asset. Armstrong has emphasized the company’s commitment to building its Bitcoin treasury amid broader institutional interest in crypto assets. The move aligns with…

Jump Crypto reportedly rotates $205M in SOL to $265M in BTC via Galaxy Digital

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Key Takeaways Jump Crypto converted $205M worth of Solana’s native token (SOL) into $265M worth of Bitcoin (BTC) using Galaxy Digital’s platform. The transaction marks a notable portfolio shift from Solana to Bitcoin by a major crypto trading firm. Share this article Jump Crypto, a crypto trading firm focused on market making and building high-performance infrastructure for the Solana ecosystem, appears to have rotated $205 million in SOL to $265 million in Bitcoin through Galaxy Digital today, according to Lookonchain. The transaction represents a significant shift from Solana’s native token…

Here’s Why Some Bearish Bitcoin Analysts Say the BTC Price ‘Top is in’

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Key takeaways: Bitcoin’s bearish MACD cross and engulfing candle on the three-week chart signal a cycle top.  Market analysts suggest that 558 days post-2024 halving indicate the Bitcoin bull cycle’s top is imminent. Other analysts say BTC price still has room to run, with $180,000 still in the cards. Bitcoin (BTC) price traded 3% lower on Thursday and 13% below its $126,000 all-time high reached on Oct. 6, with some traders suggesting that this level may have marked the cycle top for BTC.  Bitcoin technicals suggest “top is in“ Bitcoin’s…

Bitcoin Sparks Fresh Crash Warnings as BTC Price Falls to $107,000

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Key points: Bitcoin revisits the bottom of its local range in a fresh dive after the Federal Reserve interest-rate cut. Traders betting on upside get punished, with long liquidations nearing $1 billion. A deeper rout for stocks could mean BTC price losses of 30%. Bitcoin (BTC) saw new weekly lows at Thursday’s Wall Street open as stocks shrugged off macro tailwinds. BTC/USD one-hour chart. Source: Cointelegraph/TradingView BTC price pressures $107,000 range floor Data from Cointelegraph Markets Pro and TradingView showed that the BTC price action dipped to near $107,000. That…

CryptoQuant reports peak in BTC spot trading volume in October

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Key Takeaways Bitcoin spot trading volume reached its highest level in October, per CryptoQuant. Renewed spot market activity signals direct buying and selling is driving recent market action. Share this article Bitcoin spot trading volume reached its peak in October, according to CryptoQuant, as buying and selling activity accelerated across major exchanges amid renewed market participation. The surge in spot volume comes as Bitcoin has been navigating a broadening range pattern since summer, often viewed as a bullish setup that supports stability. Stablecoin reserve ratios on exchanges like Binance indicate…

Bitcoin ETFs See Major Outflows as BTC Price Dips to $108,000

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US-listed spot Bitcoin exchange-traded funds (ETFs) shed $470 million on Wednesday as the price of Bitcoin briefly fell to $108,000 before recovering, according to data from Farside Investors.  Fidelity’s FBTC led the exodus with $164 million, followed by ARK Invest’s ARKB, which saw a pullback of $143 million. BlackRock’s IBIT rounded out the top three with $88 million in outflows. Grayscale’s GBTC also recoded $65 million in outflows, while Bitwise’s Bitcoin ETF BITB saw a relatively minor loss of $6 million. The drawdown has come after a few days of steady…

BTC Can Surge To $150K All-Time High By End of 2025

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Michael Saylor, the co-founder of Strategy, the biggest Bitcoin (BTC) treasury company by holdings, forecast that Bitcoin would hit $150,000 by the end of 2025. “I think that these 12 months have probably been the best 12 months in the history of the industry,” Saylor told CNBC at the Money 20/20 conference in Las Vegas on Monday.  Saylor cited the Securities and Exchange Commission (SEC) embracing tokenized securities, US Treasury Secretary Scott Bessent endorsing stablecoins to protect dollar dominance, and the overall regulatory pivot in the US as reasons to…

Bitcoin treasury company Sequans moves 970 BTC to Coinbase Prime

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Key Takeaways French semiconductor firm Sequans Communications deposited 970 BTC worth $111 million on Coinbase Prime on Tuesday. The company announced in August its plans to stack up to 100,000 BTC by 2030. Share this article French Bitcoin treasury company Sequans Communications moved 970 Bitcoin (BTC) worth about $111 million to Coinbase Prime on Oct. 28, according to data from Arkham Intelligence. As of Oct. 6, Sequans held 3,234 BTC. Following the latest transfer, the Sequans-labeled wallet now holds 2,264 BTC, valued at approximately $255 million. The Paris-based semiconductor firm,…