Latest Crypto News From Around The World

Introduction

Cryptocurrency and crypto mining is an industry that continues to innovate around the clock. Companies and governments around the world are working on ways to improve cryptocurrency use, while also creating new governing rules to safely incorporate the technology into today’s economy. As you read on you will find the highlights from around the world that are associated with the crypto sector.?

Bitmain Launches new miner - Bitcoin Antminer T21

Bitmain, a leading global producer of application-specific integrated circuits (ASIC) for Bitcoin, has formally launched the Antminer T21, a new air-cooled Bitcoin miner.

On October 26, Bitmain announced on Twitter the release of the Antminer T21, the company's new air-cooling miner, which can tolerate temperatures as high as 45 degrees Celsius. Being a diamond sponsor at Blockchain Life in Dubai, Bitmain used the perfect opportunity to introduce its new model to the crypto world.?

Bitmain's brand-new mining gear should begin delivering in January 2024. The SHA256 mining algorithm, which is used to mine proof-of-work (PoW) cryptocurrencies like Bitcoin, as well as coins like Bitcoin Cash and Bitcoin SV (BSV), is supported by the air-cooling miner. With an energy efficiency ratio of 19 joules per terahash, the T21 offers computational power of 190 terahashes per second.

In addition, Bitmain gave purchasers of Antminer T21s the chance to get Bitmain's price protection plan, which is intended to assist miners in the event that cryptocurrency values drop. Customers can be safeguarded from the negative fluctuations in the price of Bitcoin with this package, which is available until November 25, 2023.

New Highs for Bitcoin related Stocks

The spike in the price of Bitcoin on Monday has pushed stocks tied to the cryptocurrency to all-time highs; companies like MicroStrategy and Coinbase have set new multi week highs. Amidst the BTC price movement, bitcoin mining stocks had noteworthy gains. Riot Blockchain, a US-listed company, saw a spike of 11.69%, while Marathon Digital Holdings saw a 14.6% boost. The price surge was probably partly influenced by the impending halving event, which will reduce the Bitcoin mining incentive from 6.25 BTC to 3.125 BTC each block.?

In terms of year-to-date (YTD) gains, as well as the recent price rise, Bitcoin mining stocks have outpaced Bitcoin. As of now, Cypher Mining has increased 356%, while Bitcoin has gained 86%. Riot Platforms and Northern Data, a general processing unit miner headquartered in Frankfurt, Germany, have both experienced year-over-year increases of 163.10% and 291.40%, respectively. 2023 has seen more than 100% growth for Hut 8 Mining, Iris Energy, Bitfarms, Marathon Digital, and Hive Technologies.

The Bitcoin holding of MicroStrategy is up for the third time in 2023. After losing up to -50% during the bear market, the company's Bitcoin holdings are now profitable. Presently, MicroStrategy owns 158,245 Bitcoin, which it purchased for $4.68 billion at an average price of $29,582. The current value of the public company's investment is $5.5 billion, or almost $1 billion in unrealized gains.

Decentralized Physical Infrastructure created by Io.net

Once an institutional-grade quantitative trading system for stocks and cryptocurrencies, the project evolved into a decentralized network that sources GPU computing power to meet the growing demand for machine learning (ML) and artificial intelligence (AI) services.

A test network that sources GPU processing power from multiple data centers, cryptocurrency miners, and decentralized storage providers has been developed by Io.net. It is claimed that pooling GPU computing power will significantly lower the rental costs of these resources, which are rising in price as AI and machine learning develop.

During a hackathon in Solana in late 2022, the project's idea was born. Io.net was working on a quantitative trading platform, but the prohibitive costs of renting GPU computing capacity hindered its ability to perform high-frequency operations.

In its core documentation, the team delves into the difficulties of renting high-performance GPU hardware, with the cost of renting a single Nvidia A100 card averaging about $80 per day. To run 25 days a month, more than 50 of these cards would be required, which would cost more than $100,000.

The discovery of Ray.io, an open-source library used by OpenAI to disperse ChatGPT training over more than 300,000 CPUs and GPUs, provided a solution. The library expedited the infrastructure of the project, enabling its backend to be developed in a mere two months.

The introduction of a dual native token system with IO and IOSD is scheduled for the project's roadmap. The token model takes into account the dollar cost of electricity consumption and rewards miners for completing machine learning workloads and preserving network uptime.

Conclusion

The world of crypto and blockchain continues to expand and affect related fields of studies. With blockchain currently having a major impact on trading, artificial intelligence and data computing, the future is bright for this innovation. With so much left to explore, and groups around the world increasing their research, it is absolutely certain that we will see major advancements in the world of crypto and blockchain consistently.