Riot Platforms, a prominent Bitcoin (BTC) mining company, has disclosed that its holdings now surpass 10,000 Bitcoin, marking a 37% increase from the previous year. Despite this growth, the company experienced a 13% reduction in Bitcoin production in August 2024 compared to July, reflecting wider challenges within the industry.
Bitcoin mining firms have faced profitability issues following the Bitcoin network’s halving event in April, which reduced the mining reward from 6.25 BTC to 3.125 BTC per 210,000 blocks. This, coupled with rising energy costs, has pushed miners to consider diversifying their operations into more energy-intensive sectors like data centers and artificial intelligence, despite higher operational costs.
In August, Riot produced 322 Bitcoin, down from 370 in July and slightly lower than the 333 Bitcoin mined in August 2023. Notably, unlike last August when the company sold 300 Bitcoin generating $8.6 million, no Bitcoin sales occurred this August. “August is historically the hottest month of the year in Texas, resulting in some of the highest periods of demand on the ERCOT grid,” stated Jason Les, CEO of Riot.
Focusing on energy optimization, Les noted that Riot had managed to reduce its power costs by making more power available to the grid during peak demand periods. This strategy resulted in the generation of power credits in August, leading to an all-in power cost at its Rockdale, Texas facility of $20 per megawatt-hour (MWh). Meanwhile, the Corsicana facility, which buys energy at real-time spot prices, reported a cost of $39/MWh for the same period.
Additionally, Riot’s operating hashrate in August was 14.5 exahashes per second (EH/s), down 7% from July’s 15.5 EH/s. Despite the monthly decrease, this figure represents a significant 224% increase from August 2023, underlining the enhanced computational power required for securing and processing transactions on the blockchain.
Trump’s Nukes could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Trump’s Nukes (TRUMPNUK), a Solana memecoin that was launched recently, is set to explode over 16,000% in price in the coming days.
This is because TRUMPNUK is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Trump’s Nukes can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump’s Nukes could become the next viral memecoin.
Trump’s Nukes launched with over $20,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump’s Nukes on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Trump’s Nukes by entering its contract address – AaogZCaexGqC5Rt8VEQN3zAFSvr6QymUwVSp13xjdia3 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin) from an exchange like Coinbase, Binance, and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like TRUMPNUK.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Pepe Saves Pavel could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Saves Pavel (PEPEPAVE), a new Solana memecoin that was launched recently, is poised to explode over 14,000% in price in the coming days.
This is because PEPEPAVE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Saves Pavel can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Saves Pavel could become the next viral memecoin.
Pepe Saves Pavel launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Saves Pavel on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Saves Pavel by entering its contract address – 8gcQQ5eLjKPv66Po176qwjtyH2E4JGVmbVVNa2tRmiTU – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEPAVE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Samson Mow, CEO of Bitcoin technology firm Jan3, has dismissed concerns from some traders predicting that Bitcoin will fall to $40,000, attributing these predictions to fear rather than solid market fundamentals. In a recent post on X, Mow argued against the bearish outlook stating, “Bears saying Bitcoin will drop to $0.04M have no basis for that prediction other than self induced fear.”
Despite Bitcoin’s recent struggles, remaining under $60,000 for the past week and currently trading at $53,824 according to CoinMarketCap, Mow remains optimistic about its potential to surge to $100,000. He cites several macroeconomic factors supporting a bullish scenario for Bitcoin, including the substantial daily interest the U.S. government accrues on its debt, which has notably increased over time. “Bitcoin can just as easily go to $0.1M and that is supported by brrrr, +$3B in debt per day, strategic Bitcoin reserves, pensions allocating, and corporations buying,” Mow explained.
Supporting this viewpoint, The Kobeissi Letter highlighted the escalating U.S. debt interest expenses, noting, “The $3 billion daily interest expense for the US government on its debt is TRIPLE the amount paid 10 years ago and has DOUBLED in just 2.5 years.” The publication described the situation as an understatement of a debt crisis.
Mow further argues that the influence of fear on market prices is generally short-lived, as fundamental values tend to prevail over time. “Can fear move the market? Sure. But it never lasts long because the fundamentals win out over time. Even the unwinding of some of the greatest frauds like FTX can’t keep price down,” he asserted.
Amidst this debate, the broader sentiment in the cryptocurrency market remains cautious, with the Crypto Fear and Greed Index registering an “Extreme Fear” score of 23. Adding to the wary outlook, BitMEX founder Arthur Hayes recently expressed his bearish stance, saying, “BTC is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.”
Saviour Musk could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Saviour Musk (MUSKSAV), a new Solana memecoin that was launched recently, is poised to explode over 19,000% in price in the coming days.
This is because MUSKSAV is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Saviour Musk can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Saviour Musk could become the next viral memecoin.
Saviour Musk launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Saviour Musk on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Saviour Musk by entering its contract address – HZvNTDDXhNEM6UwH8pR6XA2S6LoWYazUogzho1FUnVKH – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like MUSKSAV.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Trump’s Nukes could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Trump’s Nukes (TRUMPNUK), a Solana memecoin that was launched recently, is set to explode over 16,000% in price in the coming days.
This is because TRUMPNUK is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Trump’s Nukes can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump’s Nukes could become the next viral memecoin.
Trump’s Nukes launched with over $20,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump’s Nukes on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Trump’s Nukes by entering its contract address – AaogZCaexGqC5Rt8VEQN3zAFSvr6QymUwVSp13xjdia3 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin) from an exchange like Coinbase, Binance, and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like TRUMPNUK.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Asset manager WisdomTree has decided to withdraw its filing for an Ethereum Trust with the U.S. Securities and Exchange Commission (SEC), a filing that was originally submitted over three years ago, on May 27, 2021. According to a recent statement to the SEC dated September 6, WisdomTree confirmed that “The Registration Statement was originally filed on May 27, 2021. The Company confirms that no securities have been or will be issued or sold pursuant to the Registration Statement.”
Despite the withdrawal, WisdomTree will not receive a refund of the fees paid for the registration but has requested that these be credited for future submissions. The initial application aimed to list Ethereum ETF shares on the Chicago Board Options Exchange’s BZX Exchange, with WisdomTree noting at the time that the Ethereum market was reaching a maturity similar to that of the Bitcoin market, suggesting it was ready for such financial products.
This withdrawal coincides with the announcement from another asset manager, VanEck, which revealed it is closing its futures-based Ether ETF due to low demand. On September 6, VanEck explained that the decision was influenced by several factors including the ETF’s performance, liquidity, assets under management, and investor interest. VanEck’s Ethereum Strategy ETF (EFUT) will cease trading on September 16, with plans to liquidate and return assets to investors by approximately September 23.
These developments reflect broader challenges and shifting dynamics within the cryptocurrency investment product market, particularly in the realm of ETFs, where spot cryptocurrency ETFs have been capturing the majority of investor inflows.
Pepe Saves Pavel could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe Saves Pavel (PEPEPAVE), a new Solana memecoin that was launched recently, is poised to explode over 14,000% in price in the coming days.
This is because PEPEPAVE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe Saves Pavel can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Saves Pavel could become the next viral memecoin.
Pepe Saves Pavel launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Saves Pavel on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Saves Pavel by entering its contract address – 8gcQQ5eLjKPv66Po176qwjtyH2E4JGVmbVVNa2tRmiTU – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEPAVE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Saviour Musk could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Saviour Musk (MUSKSAV), a new Solana memecoin that was launched recently, is poised to explode over 19,000% in price in the coming days.
This is because MUSKSAV is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Saviour Musk can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Saviour Musk could become the next viral memecoin.
Saviour Musk launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Saviour Musk on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Saviour Musk by entering its contract address – HZvNTDDXhNEM6UwH8pR6XA2S6LoWYazUogzho1FUnVKH – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like MUSKSAV.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Bitcoin’s price is currently hovering around $54,168, showing a tentative recovery of 10% from its eight-month low of $49,577, reached on August 5. However, the mood among traders remains cautious with concerns that the price might drop below $52,000 before any significant recovery is observed.
On September 6, Bitcoin saw a notable decline, dropping 5.9% from a high of $56,984 to a low of $53,613 during the day. This downturn has led analysts to keep a close eye on the $52,000 mark, which is considered a critical support level.
Popular trader Jelle highlighted the precarious position of Bitcoin following disappointing U.S. jobs data, which added to the bearish sentiment in the market. “#Bitcoin pushing deeper toward the lows at $52,000,” Jelle remarked on the social platform X. He pointed out that Bitcoin has fallen below important support levels, including the significant psychological barrier at $58,000, coinciding with the 200-day simple moving average.
Jelle emphasized the importance of bulls defending the $52,000 threshold, corresponding to the July 5 low, to prevent further declines. “Rektember out in full force,” he commented, underscoring the tough market conditions this September.
In another analysis, Daan Crypto Trades explored two potential scenarios for Bitcoin’s near-term trajectory based on Fibonacci retracement levels. One scenario suggested a bounce from the 61.8% retracement level at $54,604, while the other foresaw a possible breakdown below the $54,000 support, identifying $52,400—aligned with the 78.6% retracement level—as a crucial entry point for bullish traders.
Michael van de Poppe of MN Consultancy added that Bitcoin might test the support zone between $53,000 and $54,000 before potentially surging upwards. For this rebound to materialize, he noted that reclaiming the $56,000 level quickly is essential.
Amid these market movements, pseudonymous analyst Kyledoops shared insights from a CryptoQuant chart, indicating a decline in the percentage of Bitcoin’s Unspent Transaction Outputs (UTXOs) in profit since mid-July. “The percentage of Bitcoin UTXOs in profit has fallen to 68.5%, the lowest level since October 2023,” he reported, highlighting ongoing profit-taking activities among investors.