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Explore AI Partnerships as Bitcoin Miners Eye New Revenue Streams
With declining Bitcoin mining revenue and rising difficulty, companies like Riot are seeking new revenue streams.
On Wednesday, bitcoin mining company Riot Platforms said it is exploring partnerships in the artificial intelligence and high-performance computing sector as it aims to shore up its business and generate sustainable revenue streams.
The NASDAQ-listed company said it would ramp up evaluations for potential AI and high-performance computing (HPC) uses at its Corsicana Facility in Navarro County, Texas, citing increased interest from multiple potential partners.
Riot's exploration of AI computing capabilities reflects a growing trend among Bitcoin miners to leverage their substantial power infrastructure and data center expertise for additional revenue opportunities beyond crypto mining.
The move comes as mining difficulty on the Bitcoin network has reached a historic high, peaking at 114.7 terahashes when it arrived at block height 883,502 on February 10, data from CoinWarz shows.
A "confluence" of on-chain indicators suggests miners are experiencing more "financial strain than before, leading them to find new sources of revenue," Jaehyun Ha, a research anaylst at Presto Research, told Decrypt. Read More
Are you levelling up or game over? How Blockchain and Web3 are changing the game for developers
The gaming industry has long been at the forefront of technological innovation, embracing new ideas to push the boundaries of what’s possible.
From the early days of pixelated arcades to the rise of immersive virtual reality, game developers have continuously adapted to meet player expectations and capitalise on emerging trends. Now, another seismic shift is underway, as the advent of blockchain and Web3 technologies promises to reshape gaming as we know it.
But while the potential is tantalising, this new frontier presents as many challenges as it does opportunities.
The promise of blockchain in gaming:
At its core, blockchain technology offers something traditional gaming platforms often struggle with: true utilisation. Blockchain promises to provide that. Players can use their digital assets by minting in-game items as non-fungible tokens (NFTs). In some cases, these NFTs could move across games and platforms.
For developers, the appeal of integrating blockchain technology isn’t just about pleasing players; it’s about unlocking new revenue streams. Games that adopt play-to-earn (P2E) mechanics allow players to earn cryptocurrency or NFTs as they play. While this can enhance engagement, it also incentivises microtransactions and secondary markets, creating ecosystems where developers earn royalties every time an in-game asset changes hands. Read More
A16z's Crypto Policy Head Brian Quintenz Picked to Lead CFTC
Quintenz's appointment could speed up the CFTC's growing crypto role, mainly if Congress expands the regulator's authority.
Brian Quintenz, a former CFTC commissioner, is expected to rejoin the agency after his selection by President Donald Trump, according to several media reports citing a White House document from Tuesday.
Quintenz's tenure as Chairman and Commissioner will end on April 13, 2029, following rumors in December that Trump was considering Quintenz among other candidates. Meanwhile, Rostin Behnam will take over as Vice Chair, succeeding Christy Goldsmith Romero.
Quintenz, who currently heads crypto policy at the crypto arm of venture capital giant Andreessen Horowitz (a16z), previously served as a Republican commissioner at the CFTC from 2017 to 2021.
His nomination could signal a pivot toward more crypto-friendly oversight of the $400 trillion derivatives market alongside other recent picks, including Treasurer Scott Bessent. Read More
How to use cryptocurrency for peer-to-peer (P2P) car rentals
Cryptocurrency is simplifying peer-to-peer (P2P) car rentals with blockchain technology, offering seamless transactions, enhanced security and dispute resolution.
Key takeaways:
The integration of cryptocurrency into peer-to-peer (P2P) car rental services is introducing a new way for individuals to rent vehicles, with potential improvements in security, transparency and efficiency.
This article explores how to utilize cryptocurrency for P2P car rentals, the benefits involved and the platforms facilitating this innovative approach. Read More
Crypto platform Bitpanda expands services in UK with FCA approval
Austrian cryptocurrency platform Bitpanda is expanding its presence in the United Kingdom after securing regulatory approval from the Financial Conduct Authority (FCA).
Bitpanda was approved to offer more than 500 crypto assets in the UK, the firm said in an announcement shared with Cointelegraph on Feb. 12.
“We currently have well over 500 cryptocurrencies listed on Bitpanda, which will make it the broadest range available to UK investors,” Bitpanda deputy CEO Lukas Enzersdorfer-Konrad told Cointelegraph.
The approval also allows Bitpanda to provide UK investors with a variety of crypto services, including staking, savings plans and crypto indexes. Read More
A New Crypto Category Has Emerged. What Impact Will it Have…Will It Evolve Into A Significant Narrative?
US-based cryptocurrency initiatives have historically been reticent about their origins. However, during Gary Gensler's tenure, they became vulnerable to aggressive scrutiny from the SEC, and numerous projects found themselves in the regulatory crossfire. Being a US-based project has often been a liability rather than a benefit in recent years.
The cryptocurrency industry has been electrified by the outcome of the U.S. Presidential election, with Donald J. Trump's victory sparking widespread anticipation. The regulatory shifts expected under Trump's leadership are poised to grant the crypto sector unprecedented freedom in the United States.
A new cryptocurrency category has surfaced amid this enthusiasm: "Made in the USA." This category includes cryptocurrencies that are closely linked to the United States, whether through headquarters located in the US or ties to notable American personalities. With Trump backing crypto, this category could see substantial growth, likely surpassing many others.
This has the potential to evolve into a significant narrative; thus, this article explicitly addresses cryptocurrencies based in the United States, the reasons this narrative could gain prominence, and the cryptocurrencies that may benefit from a Trump administration. To commemorate President Trump's inauguration, a newly established cryptocurrency category titled 'Made in USA' has been incorporated into price tracking platforms, including CoinMarketCap and CoinGecko. Read More
Trump’s WLFI launches ’Macro Strategy’ fund for Bitcoin, Ether, altcoins
US President Donald Trump’s blockchain platform launched a strategic reserve fund to back the growth of some of the biggest cryptocurrencies.
Trump’s World Liberty Financial (WLFI) decentralized finance platform unveiled the “Macro Strategy” fund for Bitcoin, Ether and other cryptocurrencies “at the forefront of reshaping global finance.”
According to a Feb. 11 announcement, the fund aims to strengthen those projects and expand their roles in the evolving financial ecosystem:
“Together, we are building a legacy that bridges the worlds of traditional and decentralized finance, setting new standards for the industry.”
The fund aims to “enhance stability” by diversifying the platform’s holdings across a “spectrum of tokenized assets” to ensure a “resilient financial system” and to invest in “emerging opportunities within the DeFi landscape.” Read More
Uniswap Launches Ethereum L2 Unichain, Calling It 'Fastest Chain in the Industry'
“We’re here to make DeFi faster, cheaper, more decentralized," said Uniswap Labs founder and CEO Hayden Adams.
Ethereum decentralized exchange Uniswap has launched a new blockchain to speed up transactions for its popular DeFi project.
Dubbed Unichain, the layer-2 network has already processed more than 88 million test transactions, according to Uniswap. The aim of the L2 is so that traders and devs building new apps will be able to do everything faster.
In fact, Uniswap said Tuesday that the network “will make Unichain the fastest chain in the industry.”
“We’re here to make DeFi faster, cheaper, more decentralized, which is why we launched Unichain to be permissionless from day one,” Uniswap Labs founder and CEO Hayden Adams said in the organization’s press release.
DeFi—or decentralized finance—is the catch-all term for the apps and tools in the crypto space that want to replace traditional financial products like banks. DeFi apps allow users to earn a yield on, swap, or lend out their crypto.
But such tools are still very experimental and prone to hacks. Read More
Tether selects Arbitrum to power crosschain stablecoin
Valued at more than $141 billion, Tether’s USDt is the world’s largest stablecoin by market capitalization and usage.
Tether has selected Arbitrum to be the infrastructure provider for USDT0, the company’s new crosschain US dollar stablecoin.
According to a Feb. 11 announcement, Arbitrum One will serve as the main hub linking USDt deployments on Ethereum, Tron, TON and Celo to the newly created USDT0. Specifically, Arbitrum’s Legacy Mesh technology will provide a native solution for transferring USDt between these major chains.
Steven Goldfeder, the CEO of Arbitrum developer Offchain Labs, said the Legacy Mesh technology provides users and developers with “deep, liquid markets regardless of the blockchain” they’re using.
Goldfeder said the new solution will promote “broader USDt adoption” while increasing the stablecoin’s scalability across networks.
USDt is already the world’s most widely used stablecoin, with a total market capitalization of more than $141 billion, according to CoinMarketCap. Circle’s USD Coin is a distant second with $59 billion in total value. Read More
Uniswap debuts Unichain mainnet, joins crowded ETH L2 ecosystem
Uniswap Labs has announced the mainnet launch of Unichain, its Ethereum layer-2 (L2) blockchain. The debut marks Uniswap's expansion into the L2 market.
According to a Feb. 11 statement, Unichain will have one-second block times, swap liquidity, and the ability to earn interest or borrow against collateral. The debut of Unichain’s mainnet is said to come after millions of test transactions and smart contracts on the testnet, which debuted on Oct. 10.
The new chain could generate nearly $500 million annually for Uniswap Labs and UNI tokenholders by redirecting fees that would have gone to Ethereum validators.
Decentralized finance is one of Ethereum’s most popular use cases, with the total value locked on the L1 network sitting at $56.6 billion, according to DefiLlama. Solana is in a distant second position with $9.1 billion, while the Bitcoin network comes in third at $6.6 billion.
TVL is considered one of the more accurate ways to measure DeFi activity, as it accounts for locked and staked assets. Read More
US, UK, Australia sanction Zservers for hosting crypto ransomware LockBit
Ten countries launched a joint operation to disrupt LockBit in February 2024, saying the group had caused billions of dollars in damage to individuals and key infrastructure.
Authorities in the US, Australia, and the UK have sanctioned the Russia-based bulletproof hosting services provider Zservers for allegedly supplying services to the LockBit crypto ransomware gang.
The sanctions include asset freezes on Zservers and its UK-based front company, XHOST internet Solutions LP, alongside asset freezes and travel bans for six individuals, the US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Foreign Office said on Feb. 11.
The US Treasury said bulletproof hosting service providers are known to sell a range of tools that can mask locations, identities, and activities online. The department’s acting under-secretary for terrorism and financial intelligence, Bradley Smith, said cybercriminals rely on third-party network service providers like Zservers to “enable their attacks on US and international critical infrastructure.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
