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Rampant energy costs at the facility, which uses electricity bought on the spot market, have eaten into profitability this year. The margin, which stood as high as 74% in January, had sunk to 37% by July. The company is trying to secure a long-term, fixed-price power purchasing agreement to lower
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Bakkt, however, toned down its guidance for the year. The digital asset platform now expects net revenue to grow to $57 million to $62 million during 2022, compared with its earlier guidance of $60 million to $80 million. It also expects to use $135 million to $140 million of cash
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"ETH has undergone a rapid change in narrative over the past week with speculators purely focused on the upcoming 'merge' as a catalyst for appreciation," one observer said. Original Source
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Grayscale (whose parent company Digital Currency Group also owns CryptoX) has applied to convert the GBTC into an exchange-traded fund, or ETF. And for months, some traders have been monitoring the discount as a proxy for the likelihood of winning approval. According to the market logic, the GBTC would trade
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The Financial Services Commission, the top financial regulator in South Korea, is supposedly staging a closedown for some cryptocurrency exchanges. This move is linked to allegations of fraud in these exchanges. The first move from the FSC is to temporarily stop the operations of about 11 average South Korean crypto exchanges.
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Mining equipment manufacturer Canaan Creative reported a 2Q net loss of $2.38 million, or 10 cents a share, less than half the size of Q1’s $5.64 million loss, or 24 cents A replay of the company’s conference call will be accessible through Sept. 8 by dialing the following numbers: International: +61-2-8199-0299United
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