By Shikha Singh
TeraWulf to Lease 70 MW to Host AI as Bitcoin Mining Costs Jump.
Bitcoin miner TeraWulf has partnered with AI and cloud provider Core42 to lease 70 megawatts of infrastructure at its Lake Mariner facility in upstate New York, aiming to diversify its revenue streams and capitalize on the growing AI market. The infrastructure will be energized between 2025’s first and third quarters.
Russia Bans Crypto Mining for 6 Years in 10 Regions.
The Russian government has approved a crypto mining ban in 10 regions starting January 1, 2025, lasting until March 15, 2031. This ban, reported by TASS, will affect regions such as Dagestan, Chechnya, and parts of the Donetsk and Luhansk territories, impacting both mining pools and individual miners.
In addition to these blanket bans, seasonal restrictions will be imposed in the Irkutsk, Buryatia, and Zabaikalsky regions during the winter months, from January 1 to March 15 initially, and extending from November 15 to March 15 in subsequent years. These restrictions are aimed at preventing energy blackouts during peak demand periods.
Ethereum’s ETH/BTC Pair Shows Possible Signs of Recovery.
Ethereum’s outlook is becoming more positive, with selling pressure easing and increased accumulation indicating growing investor confidence.
The number of addresses holding ETH has surged by 60%, now representing 16% of the total supply, signaling long-term faith in the asset.
With reduced selling and a rise in ETH holders, Ethereum is poised for potential price growth, possibly reclaiming earlier highs near $4,000.
This shift in market sentiment points to a promising future for Ethereum in the near term.
USUAL Token Surges 25% After Binance and Kraken’s $10 mn Investment.
The recent surge in Usual tokens has surprised the crypto community, rising from $1.05 to $1.21 in just 24 hours—an increase of over 25%. This comes after Binance and Kraken invested $10 million in Usual, a fiat-backed stablecoin issuer focused on bridging crypto with real-world assets.
Usual has also announced a strategic partnership with Ethena Labs and Securitize, the platform behind BlackRock’s BUIDL fund. This collaboration aims to enhance the DeFi market by offering higher yields (80% more) and better liquidity. Alex Odagiu from Binance Labs praised Usual’s potential to expand the stablecoin ecosystem.
Bitcoin ETF Inflows Drop While Ethereum Dominates.
On Monday, Ethereum saw significant inflows, with US spot Ethereum ETFs registering a net cash inflow of $130 million, bringing the total to $2.46 billion.
BlackRock’s ETHA alone saw inflows of over $89 million. In contrast, Bitcoin ETFs experienced net outflows, totaling over $1.1 billion in the past three days.
With Bitcoin dominance breaking out of a rising wedge, altcoins are expected to outperform Bitcoin in the coming months, particularly with more whale investors focusing on the altcoin market.
However, with over 12,000 altcoins in circulation, liquidity dilution means that not all altcoins will experience significant rallies.
Ripple Stablecoin RLUSD Launches on First Singapore-Based Crypto Exchange.
Ripple’s stablecoin, RLUSD, has officially launched on the Singapore-based crypto exchange Independent Reserve.
This marks RLUSD’s debut on an Asian exchange, allowing users to trade the stablecoin for cross-border payments and pair trading.
Independent Reserve, the first licensed exchange in Singapore, began offering RLUSD on December 22, enabling trading with Singapore dollars (SGD) or US dollars (USD).
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