CleanSpark’s total revenue rose 400% in its 2021 fiscal year, but the sustainable bitcoin mining and energy technology company also recorded a net loss of $21.8 million, or $0.75 per share, it announced on Tuesday. For the year ended Sept. 30, CleanSpark generated $49.4 million in revenue, up from about $10 million the previous year. […]
Archives for December 2021
What Gives Crypto Its Value?
Where does crypto get its value? Where does anything get its value? It’s really quite simple: If enough people agree that something is valuable, it becomes valuable. That was how ancient currencies like gold or even cowrie shells derived their value, and this applies to the value of artwork. It doesn’t matter why people desire […]
Bitcoin Struggles to Break $47K as Fed Meeting Looms
Bitcoin, the world’s largest cryptocurrency, was lower as the market prepares for this week’s Federal Reserve monetary policy meeting, where the U.S. central bank is expected to slow down its money printer. The two-day meeting, which starts Tuesday and concludes Wednesday, is expected to end with the Fed announcing plans to cut the pace of […]
Avalanche, Cosmos Lead Crypto Losses Amid Altcoin Purge
Tokens of the Avalanche, Algorand and Cosmos blockchains were among some of the biggest losers early Tuesday as the crypto market took a hit. The moves came as stocks fell in Asia amid a move to less risky assets. Avalanche (AVAX) slid as much as 11% to a support level of $77 at press time, […]
Gemini Looks to Replace APAC Head in Singapore After Jeremy Ng Departs
Gemini is looking for a new Singapore office lead, according to a LinkedIn job opening from last week. The search comes after former APAC chief Jeremy Ng left the company in recent weeks, according to two sources with direct knowledge. Ng was with the exchange for less than two years and was appointed to lead […]
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