Author: Kryptonews

Canadian agricultural firm AgriFORCE Growing Systems Ltd. has launched an initiative to use stranded gas to power 120 Bitcoin mining rigs, which the company says it plans to expand.The site, located in Berwyn, Alberta, and launched in partnership with energy provider BlueFlare Energy, draws in 425 kilowatts (kW) for 32 petahashes per second (PH/s) of computing power, AgriFORCE said on Tuesday. The site will use so-called stranded gas, natural gas that can’t be immediately taken to market as it’s either not economically viable to mine or can’t be physically reached by the equipment needed to extract it.AgriFORCE also signed a binding…

Bitcoin halving events are a regular occurrence baked into the cryptocurrency’s core code, designed to control inflation and maintain scarcity. Every 210,000 blocks, approximately every four years, the reward miners receive for verifying transactions is cut in half. The next halving is rapidly approaching, and while it historically often precedes price increases, it’s crucial to manage expectations and avoid assuming an immediate, dramatic surge. Understanding the Halving Mechanism The halving reduces the rate at which new Bitcoin enters circulation. This reduction in supply, theoretically, should create upward pressure on the price, assuming demand remains constant or increases. Historically, Bitcoin has…

SPK Token, the native token of Spark, launched on Tuesday after much anticipation. The token secured listings on major exchanges, including Coinbase, Binance, and others.  However, since the launch, it has experienced a significant drop, plunging by double digits. This decline could likely be attributed to the post-airdrop sell-off. Spark (SPK) Token’s Price Plummets Post-Launch Spark is a DeFi platform that allocates capital on-chain by borrowing from Sky’s $6.5 billion reserves of stablecoins. The platform deploys this capital across decentralized finance (DeFi), centralized finance (CeFi), and real-world assets (RWAs).  The SPK token plays a central role in the protocol. It…

The US Senate on Tuesday approved the most sweeping piece of crypto legislation to date, passing the long-awaited GENIUS Act with strong bipartisan support. The vote, which cleared the chamber 68 to 30, marks the first time the Senate has advanced a regulatory framework specifically for stablecoins, a fast-growing corner of the digital asset industry.Backed by 18 Democrats and most Republicans, the bill moves next to the House of Representatives, where lawmakers have been working on a similar framework. If the House passes a reconciled version, the legislation will head to President Donald Trump’s desk, aligning with the administration’s push…

Community & educationBlockchainsForSchoolsSponsorship of BlockchainsForHacks, an ideation challenge for high school and college students to create innovative projects using blockchain technology.Cryptography & zero knowledge proofsHubbleContinued funding for work on an optimistic rollup hub allowing creation of any rollup chain simply by writing a solidity function.Cryptography & zero knowledge proofsZkopru (zk-optimistic-rollup)Layer-2 scaling solution for private transactions using zk-SNARKs and optimistic rollup. Github: https://github.com/zkopru-network/zkopruCryptography & zero knowledge proofsDark ForestGame theorietic research completed by a group of Stanford students on using zk-SNARKs to construct “incomplete information” environments where users can keep a private state while publicly submitting verifiably valid actions. Dark Forest was…

The University of California, Irvine, said it is discussing the possibility of a deal with the Orange County Museum of Art in Costa Mesa that would see the institutions merge. “UC Irvine and the Orange County Museum of Art are exploring a transformative agreement that will open a new chapter for OCMA and establish a new model for public arts engagement, scholarship and access” read a statement from UC Irvine last week. “A nonbinding, exploratory letter of intent has been signed, and the two organizations continue to develop a definitive agreement, pending approval of the University of California Board of…

The government of Brazil moved its Bitcoin Reserve bill to an advanced stage as it received approval from the first committee. Brazil is one step closer to becoming the second Latin American country, after El Salvador, to hold Bitcoin as part of its national reserves. A key committee in Brazil’s government has approved a bill that would allow the country to invest up to 5% of its foreign reserves into Bitcoin, which is around $18.5 billion. 🚨NEW: 🇧🇷 Brazil’s Bitcoin #Reserve Bill 4501/2023, proposing “RESBiT” to allocate up to 5% of foreign exchange reserves to Bitcoin, passes its first committee.…

At least four publicly-traded US firms announced on Tuesday that they would bulk up their crypto investments by a total of $844 million, adding to the number of corporations looking for a boost from Bitcoin and other cryptocurrencies.The largest raise on Tuesday was from the Hong Kong-based heat-and-eat meal seller DDC Enterprise Ltd, which said that it entered into three purchase agreements totaling $528 million, all of which will be used to expand the firm’s Bitcoin (BTC) holdings.The raise came almost entirely from a $300 million convertible note, a $200 million credit facility and a $26 million equity investment. Dallas-based…

Good Morning, Asia. Here’s what’s making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.As Asia begins its trading day, is trading above $2500 as the U.S. Senate passes the GENIUS Act with bipartisan support.While the Senate was busy passing the GENIUS Act, Vivek Raman, founder of Ethereum advocacy firm Etherealize, was even busier, making the rounds on Wall Street to explain why ETH is suddenly at the center of institutional finance.Of…

Bitcoin, the world’s leading cryptocurrency, has experienced a significant downturn in recent months, prompting speculation and concerns about its long-term viability. After reaching an all-time high in late 2021, its value has plummeted, leading many to question whether the “Bitcoin bubble” has finally burst. Understanding the contributing factors and potential future scenarios is crucial for investors and observers alike.## Factors Contributing to the Price DropSeveral factors have played a role in Bitcoin’s recent decline. Macroeconomic conditions, including rising inflation and interest rate hikes by central banks globally, have created a risk-off environment. Investors are pulling money out of speculative assets…