Bitdeer boosts self-mining to stay competitive amid weak demand for rigs, joining other hardware makers turning to in-house Bitcoin operations. Bitdeer Technologies Group (BTDR), a Bitcoin mining and infrastructure company, is ramping up its self-mining operations amid weakening demand for mining rigs — highlighting how some hardware makers are shifting strategies to stay competitive during the current Bitcoin bull market. According to an Oct. 9 Bloomberg report, Bitdeer is accelerating its pivot toward mining Bitcoin (BTC) on its own equipment, effectively competing with the same clients that purchase its rigs. The report cited Bitdeer’s latest filings showing a major year-over-year expansion of its mining capacity in August and its stated goal of becoming one of the world’s top five Bitcoin miners. Read more
The license came eight months after the regulator granted the company in-principle approval, and a few weeks after Bybit secured a non-operational license for Dubai. Cryptocurrency exchange Bybit has secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority of the United Arab Emirates (UAE), eight months after the regulator granted the company in-principle approval. In a Thursday notice, Bybit said approval from the UAE financial regulator would allow the exchange to offer its global products and services to the region. Authorities in Austria granted the company similar licensing approval in May, and the exchange registered in India in February after briefly suspending its service and paying a $1-million fine over compliance violations. “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency,” said Bybit co-founder and CEO Ben Zhou. “The UAE has emerged ...
Ethereum onchain activity tops 9.5 billion daily contract calls while the total value locked in tokenized real world assets reached $11.7 billion. Will Ether price follow? Key takeaways: Ethereum’s onchain activity is structurally higher, signaling durable growth. Institutional inflows and RWA tokenization are major catalysts for ETH demand. Read more
State Senator Peter Durant addressed Massachusetts lawmakers on Tuesday regarding his proposed Bitcoin reserve bill, but received no questions. Update (Oct. 9 at 7:15 pm UTC): This article has been updated to include a response from Peter Durant. A bill intended to establish a Bitcoin strategic reserve for the US state of Massachusetts received a tepid response after its first legislative action in eight months. In a Tuesday hearing of the Massachusetts legislature’s Joint Committee on Revenue, state Senator Peter Durant testified regarding the bill he sponsored, “an Act relative to a Bitcoin strategic reserve.” Read more