China News by Thebittimes.Com

The globe witnessed Bitcoin (BTC) painted in several colors over the past few months. Despite its slow start to 2024, the king coin picked up steam towards the end of the year. This rally was linked to Donald Trump’s support for the world’s largest cryptocurrency. As Trump took office, the price of BTC was seen surging. This article highlights the potential returns on BTC if a mere $1000 was invested during election day. Also Read: Musk To Solely Lead D.O.G.E As Ramaswamy Exits: Impact On Dogecoin (DOGE)? Looking At Bitcoin’s Current Price Source: Watcher Guru Earlier today, Bitcoin went on to record a new all-time high of $109,114.88. The asset was trading at a low of $100,103.96 earlier today. As Trump and the rest of his administration took office, BTC began to surge. At the time of writing, however, the asset was undergoing slight correction. Bitcoin was priced at $102,066.91. The asset is currently 5.7% below its peak. Source: CoinMarketCap The asset’s start...

Bitcoin miners that shift their focus to AI and high-performance computing (HPC) could boost their profits by up to $13.9 billion annually. That’s a ccording to an Aug. 16 report by fund management titan VanEck, which says that if listed miners convert only 20% of their e xisting and targeted power capacity to AI and HPC by 2027, they can add annual profits exceeding $13.9 billion over 13 years. ”The synergy is simple: AI companies need energy, and bitcoin miners have it,” wrote head of digital assets research Matthew Sigel. ”Bitcoin miners generally have bad balance sheets, either because of too much debt, too much share issuance, too much executive compensation, or some combination of all three.” Bitcoin Miners are Shifting to AI & HPC, Unlocking New Revenue Through Strategic Arbitrage We Estimate a $38B Net Present Value Opportunity by Converting 20% of their Collective Capacity by 2027. (For context, the combined market cap of the stocks...

A position trader has booked an estimated $13.2 million (345%) profit in seven months of buying and holding patiently. Render (RNDR)—this position trade’s cryptocurrency, became known as the “Nvidia of crypto”—creating a decentralized network of GPU rendering. Notably, SpotOnChain reported the seven-month position trade that started with a 1.69 million RNDR purchase on Coinbase. The withdrawals happened between November 2 and November 10, 2023. At that time, this position was valued at around $3.83 million, with Render priced at $2.265 on average. This trader became dormant for seven months after building the position, waiting patiently for the best time to sell. Interestingly, the whale missed Render’s price top in March but remained still even during a significant crash in April. Picks for you XRP to 'make ex...