President-elect :trump: Donald Trump nominated #Bitcoin advocate :rfk: Robert F. Kennedy Jr. for U.S. Secretary of Health and Human Services on Thursday. During his 2024 campaign, :rfk: RFK Jr. proposed establishing a #Bitcoin strategic reserve to stabilize the U.S. dollar and exempt #Bitcoin profits from capital gains tax.
Pennsylvania proposes investing up to 10% of state funds in #Bitcoin to diversify assets and combat inflation. If passed, PA would be the first state to directly hold Bitcoin.
#Bitcoin Miners Face Efficiency Challenges as BTC Hits Record Highs
As Bitcoinβs price surges to all-time highs, mining companies are focusing on efficiency to stay competitive. Despite the boost in Bitcoinβs value, hash prices remain low, putting pressure on miners' revenue. Companies like Luxor Technology and Bitdeer are investing in more efficient rigs and proprietary technology to increase profitability. Riot Platforms and Core Scientific are also expanding operations, while advocating for favorable regulatory conditions in the U.S. under the incoming administration, signaling a strategic push for growth in the Bitcoin mining sector.