Posts published on February 1, 2024 go to media archive 2/3

US Banking Sector Volatility — Distressed Commercial Real Estate Sector Raises Default Concerns

Following the U.S. central bank’s decision to keep the federal funds rate unchanged, the turbulence in the commercial real estate market has sent shockwaves through the country’s banking sector and internationally as well. On Thursday…

EIA Launches ‘Emergency Survey’ on Crypto Mining’s Power Use Amid Concerns of Alleged ‘Public Harm’

The U.S. Energy Information Administration (EIA) has gained clearance from the Office of Management and Budget (OMB) to conduct an urgent survey regarding electricity usage by cryptocurrency mining firms across the U.S. The EIA submitted this…

Bitcoin’s Hashrate Hits 7-Day Record High, Surging to 566 EH/s Amid Anticipation of Upcoming Difficulty Adjustment

Bitcoin’s computing power has soared to unprecedented levels, with the seven-day simple moving average (SMA) peaking at 566 exahash per second (EH/s) as of Jan. 30, 2024. Despite experiencing a slight decline in mid-January, the…

Celsius Follows FTX As It Begins Repaying Crypto To Creditors, Here’s How Much

Bankrupt cryptocurrency lending company Celsius Network has followed behind FTX, revealing plans to disburse billions of dollars in crypto to creditors and establish a new Bitcoin mining company for its creditors.  Celsius To Distribute $3 Billion…