JPMorgan reports Bitcoin miner profitability hit a post-halving high in July, with revenue at $57.4K/EH/s (+4% from June). 10/13 US-listed miners outperformed Bitcoin. Despite gains, profits are still down 43-50% from pre-halving. Hash rate up 4%, difficulty +9% last month. #Bitcoin #mining
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H100 Group increased its Bitcoin holdings by 17.47 BTC to a total of 702.6 BTC, the Swedish company announced. This reflects growing corporate interest in #Bitcoin as an asset class. π
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Coinbase Stock Plummets 12%, Marking Largest Intraday Drop Since April
Coinbase (COIN.O) experienced a significant downturn in trading today, with its stock price falling 12% β the largest intraday decline since April. The cause of the drop was not immediately clear.
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Mill City Ventures (MCVT) secured a $500M equity line with AGP to fuel its SUI financial strategy. This provides flexibility to access capital & pursue growth in non-bank lending/financial services. More: link to original article
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Cooling labor market (slowdown in data despite steady unemployment) may push the Fed to cut rates in Sept, per @NickTimiraos. Powell highlighted declining job openings & weakening demand. #economy #fed #rates
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BoA sees rising investor interest in tokenizing real-world assets (stocks, bonds, real estate) via blockchain! ποΈ Faster settlements, 24/7 access & more liquidity. Dubai's digitizing $16B in property. π Potential disruption for traditional banking. #RWA #blockchain #DeFi
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Hashgraph Group launches IDTrust, a decentralized identity platform on Hedera! π No HBAR tokens needed & greater data control vs. centralized systems. Enterprise-focused & compatible with Switzerlandβs e-ID. #decentralizedidentity #Hedera
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US jobs report shows a cooling labor market: just 73K jobs added in July, unemployment up to 4.2%. Treasury yields & the dollar are falling as rate cut expectations rise. May & June job gains were also significantly revised *down*. Fed officials already signaled a weakening market.
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Markets now expect the Fed to start cutting rates in September, despite recent signals of a strong job market. Bond yields are falling, suggesting the Fed is behind on rate adjustments. - Gregory Faranello, AmeriVet Securities.
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Michael Saylorβs Strategy may buy up to 1.5M Bitcoin (7.14% of supply)! Currently holds 628,791 BTC purchased at an avg. price of $73,227, totaling ~$46.8B. #Bitcoin #BTC
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