As for institutional adoption, “...I don't think, I know, starting more or less next week, you're going to see an absolute drumbeat of pretty game-changing milestones from some of these firms,” said NYDIG CEO Robby Gutmann.
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Chinese firm enters Bitcoin mining with $155M ASIC machine order
Despite China’s growing pollution-based crackdown on Bitcoin production, Zhongjia Bochuang wants 2,000 crypto mining machines running by May, with plans to grow to 20,000
While the mining machines are a new business line for ZJBC, it is not the AI and cloud communications-focused company's first foray into the cryptocurrency mining business. It noted that one of its subsidiaries, Changshi Telecommunication, has been building and maintaining blockchain mining farms since 2018.
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Oakland A’s selling discount luxury suites for Bitcoin
The price is set at one Bitcoin for a season six-person suite which costs $64,800—currently almost a $9,000 discount
The team is pitching the offer as a gamble, with Kaval noting that suites’ prices will fluctuate with the price of bitcoin, which he said, “adds to the excitement.” Of course, that means if bitcoin rises past $64,800 by the season’s close on Oct. 8, purchasers will have overpaid—assuming they aren’t selling BTC to pay for the suite in the first place.
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Bitcoin’s hiccup liquidates $500M of longs in one hour
Bitcoin 12% price plunge caused futures traders to lose nearly $500 million within an hour—and more than $2.8 billion over two days
One explanation is that many new and inexperienced traders have joined the market. On-chain analytics firm Glassnode’s founders Jan Happel and Jann Allemann had another: “There is excess greed in the system, with 60% of contracts levered 20x or more."
