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Crypto tries to go up, but big news like a Japan rate hike keeps hitting the market and stopping the pump....
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Bitcoin mining news: ERCOT queue up 270%, IREN raises $2.3B, Whatsminer M70 launches Bitcoin mining economics faced continued pressure this week as hashprice lingered near all-time lows despite network difficulty adjustments. While operators navigate thin margins, infrastructure demand in Texas has exploded with a massive influx of interconnection requests driven by data centers. Amid the challenging environment, MicroBT released its newest ASIC miner, IREN (NASDAQ: IREN) executed a significant capital raise, and Luxor expanded its service offerings into the burgeoning AI hardware market.
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Vanguard Exec Says Bitcoin Is Like 'A Digital Labubu' Vanguard Group Global Head of Quantitative Equity John Ameriks said Bitcoin lacks the income, compounding, and cash-flow characteristics the firm seeks in long-term investments. Speaking at Bloomberg's ETFs in Depth conference in New York on Thursday, Ameriks compared Bitcoin to a viral plush toy collectible, calling it a "digital Labubu." Absent evidence that the technology delivers durable economic value, Ameriks said it is difficult to view Bitcoin as anything beyond speculation.
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