The Grayscale Bitcoin Trust’s discount to net asset value retaliates with the U.S application for a Bitcoin ETF by BlackRock, while Arkham Intelligence faces controversy over its new service and data handling. Meanwhile, Bitcoin’s potential rise to $50,000 by year-end is predicted by Standard Chartered Bank.
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Riot Platforms’ Massive ASIC Order: Revolutionizing Bitcoin Mining or Threat to Sustainability?
Riot Platforms acquires 33,280 mining rigs from MicroBT, increasing its hashrate capacity to 20.1 EH/s. The machines, designed for immersion cooling systems, will be deployed by Q1 2024. This groundbreaking development occurs as questions about optimizing efficiency and addressing environmental concerns in the mining industry arise.
Grayscale’s New Trust and the Battle for US Spot Bitcoin ETF Approval
Grayscale Investments forms a new trust, Grayscale Funds Trust, aiming to launch a spot Bitcoin ETF in the US. Despite SEC’s previous rejections, Grayscale insists on the need for a regulated spot Bitcoin ETF and plans to expand its ETF business further.