Connect with us

Blockchain

Digihost Announces Strategic Collaboration With Bit Digital to Increase

Republished by Plato

Published

on

TORONTO, June 10, 2021 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that the Company has entered into a strategic co-mining agreement (the “Agreement”) with Bit Digital USA, Inc. (“BTBT”) (Nasdaq: BTBT). Pursuant to the terms of the Agreement, the Company will provide certain premises (the “Premises”) to BTBT for the purpose of the operation and storage of a 20 MW Bitcoin mining system (the “Miners”) to be delivered by BTBT, and the Company will also provide services to maintain the Premises for a term of two years. The collaboration between Digihost and BTBT is expected to generate an increase in hashrate of approximately 400 PH between the companies.

Under the terms of the Agreement, Digihost will provide power for the operation of the Miners and will also provide management services necessary to maintain 95% uptime on the Miners. In consideration for these services, after paying Digihost a very competitive rate for power, Digihost and BTBT will participate in a profit sharing arrangement based on a fixed distribution formula. It is expected that the Miners will be delivered and installed during the fourth quarter of this year.

Michel Amar, the Company’s CEO, stated: “We are extremely pleased by this strategic collaboration with Bit Digital which, based on current Bitcoin metrics, is expected to deliver significant results through the increase in hashrate of 400 PH between the two companies. Our business strategy continues to be growth through the expansion of our mining infrastructure, vertical integration of low-cost and green sources of energy, strategic partnerships with leading companies in the blockchain sector, and geographic diversification in North America to strategically operate our business in regions where minimal or no carbon footprint is generated.”

Bryan Bullett, BTBT’s CEO, stated: “We are extremely pleased by this strategic collaboration with Digihost which marks our ongoing expansion in North America, as we continue to transition our mining fleet here. Our business strategy continues to encompass growth through the expansion of strategic partnerships with institutional-quality hosting providers with aligned economic interests, to secure efficient access to power and hosting. We look forward to a successful partnership with Digihost.”

About Digihost Technology Inc.

Digihost Technology Inc. is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. The Company’s mining facilities are located in Upstate New York, and are equipped with 78.7 MW of low-cost power with the option to expand to 102MW. The Company is currently hashing at a rate of 200PH with potential to expand to a rate of 3EH upon the completion of the previously announced acquisition of a 60MW power plant.

For further information, please contact:

Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
T: 1-818-280-9758
Email: [email protected]

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://e-cryptonews.com/digihost-announces-strategic-collaboration-with-bit-digital-to-increase/

Blockchain

Tanzania’s Central Bank Working on Adopting Cryptocurrencies

Republished by Plato

Published

on

A few years after banning the usage of digital assets within its borders, Tanzania is heading towards a full 180-turn. The nation’s central bank asserted today that it has begun working on a recent directive from the President to adopt cryptocurrencies.

  • CryptoPotato reported a few weeks back when Tanzania’s President – Samia Suluhu Hassan – highlighted the need for the country to adopt digital assets.
  • A Reuters reported from June 25th showed that Tanzania’s central bank plans to listen to Hassan’s words. The organization wants to be prepared for if or when the nation will need to use cryptocurrencies.
  • Interestingly, today’s statement from the bank shows an entirely different approach than the one undertaken in 2019.
  • Back then, the institution implemented a ban on operating with cryptocurrencies. It argued that the country had not recognized them as legal currencies and warned its citizens to stay away as they might lose money if they invested in such speculative assets.
  • Now, though, a spokesperson from the central bank reassured that the organization is “working on the directives given,” referring to President Hassan’s comments.
  • However, the bank’s representative failed to disclose details whether it will adopt Bitcoin and other currently existing digital assets or will tend to go with the Chinese route and create a CBDC.
  • This development comes shortly after news broke that El Salvador has become the world’s first nation to make Bitcoin a legal tender.
  • As reported in early June, the government of the small Central American nation voted in favor of the law, which will come into effect in September.
  • Since then, several other countries have outlined similar plans, including Paraguay and Panama.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/tanzanias-central-bank-working-on-adopting-cryptocurrencies/

Continue Reading

Blockchain

XRP lawsuit: Why SEC’s latest motion, Hinman’s deposition ‘should scare everyone’

Republished by Plato

Published

on

Until a week back, it was quite apparent that only the plaintiffs in the ongoing SEC v. Ripple lawsuit desperately wanted to depose additional people. However, it recently came to light that the defendants too intended to depose an additional office-bearer. With the sole hint of ‘former SEC official,’ the community started making its own guesses as to who would it be. Among the host of options available, two names stood out and seemed to be the most appealing – Jay Clayton and William Hinman.

In what is the latest development in the same, the SEC has now filed a motion to quash the deposition of its official. Unsurprisingly, the ‘former SEC official’ named by Ripple is SEC’s former Director in-charge of the Corporate Finance division, William Hinman. According to the plaintiff’s motion,

“To depose a former high-ranking government official like Director Hinman, Defendants bear the burden of showing ‘exceptional circumstances’ justifying the deposition.”

It should be noted that the purpose of the “exceptional circumstances” rule is to “protect the mental process” of government officials. As far as the defendants are concerned, they have claimed that they need to depose the official to elicit testimony on the SEC’s “internal views” and to develop evidence with respect to the “market participants’ views” based on Hinman’s interactions with members of the public. The SEC, on the contrary, argued,

“… these proposed inquiries… could be obtained by far less intrusive means.”

The SEC further stated that the answers the blockchain company seeks are protected by privilege since they relate to the everyday tasks of most high-ranking government officials. 

“Director Hinman has no personal, first-hand knowledge as to defendants’ offers and sales of XRP.”

Here, it should be noted that the official was a part of the SEC’s fact-gathering team that investigated Ripple’s conduct between 2018 and 2020. Additionally, he and his staff have also reviewed written submissions from the defendants’ council.

Further, the federal agency noted in its motion that XRP holders had shared false information about Hinman. Attorney John E. Deaton was quick to react, however, opining, 

“What’s false?… Maybe allowing the deposition to go forward will make future high ranking officials more accountable regarding the things that they say.”

Again, as known, Hinman made a public speech in 2018 where he explicitly stated that offers and sales of Ether were “not securities transactions.” However, at that time, he did not claim anything about XRP or Ripple. 

Further, in the exhibits attached with the motion, Hinman declared that the SEC has still not taken a call on whether the offer and sales of Ether fall under the category of securities. This menacing declaration, according to attorney James K. Filan, “should scare everyone.”


Subscribe to our Newsletter


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://ambcrypto.com/xrp-lawsuit-why-secs-latest-motion-hinmans-deposition-should-scare-everyone

Continue Reading

Blockchain

Binance Coin, Tron, UNI Price Analysis: 25 June

Republished by Plato

Published

on

Major cryptos gained back some ground after facing some major losses on Tuesday. After dropping below $30,000 for the first time since January, Bitcoin was back to $34,213 at the time of writing, hiking by 3.1% over the past 24 hours. Major altcoins like Binance Coin, Tron, and UNI also profited off the back of this price gain for a while. Later, market volatility could be seen slowing down as the cryptos began to move sideways. 

However, Binance Coin and Tron noted positive bullish momentum, even as UNI’s southbound movement met a halt. 

Binance Coin [BNB]

Source: BNB/USD, TradingView

Ranked 4th on CoinMarketCap, Binance Coin was trading at $302 at the time of writing, with the alt hiking by 5% in the aforementioned period. In fact, it had gained by almost 38% since 22 June, the day when it hit a low of $224. After momentarily breaking through the $307-resistance yesterday on the 4-hour chart, the asset was again trading below it at press time. 

The parallel movement of the Bollinger Bands suggested that high market volatility had come to a halt and stable price action could be expected in the near term. 

Bullish momentum was cropping up on the Awesome Oscillator as the green bars moved above the histogram. The MACD and Signal lines pictured a bullish crossover on 23 June as the alt’s price recovered over the past few days. 

BNB could go up to $326 before finding further resistance if the bullish trend continues.

Tron [TRX] 

Source: TRX/USD, TradingView

After touching a low of $0.046 on 22 June, Tron rallied up by 46% to trade at $0.066 at the time of writing. The crypto broke through the $0.065 resistance yesterday, which then began to act as a strong support level. 

The Parabolic SAR’s dotted line hovered below the candlesticks as the coin’s price action continued to follow a bullish trend. Moreover, long green lines above the Awesome Oscillator’s histogram pictured dominant bullish momentum on the digital currency’s price chart. 

A reversal from intense selling pressure could be noticed as the Relative Strength Index’s indicator exited the oversold region and held its position just below the overbought zone. While a minor downtick can be noticed, buying pressure continued to be greater than the selling pressure. 

Even if the bullish price action holds out, the coin could face resistance at the $0.069-mark. 

Uniswap [UNI]

Source: UNI/USD, TradingView

UNI has not been as lucky as the other alts as it was struggling to breach the $18.6 resistance, even as it found new support at $16.5. The asset did register a 2.18% price hike over the past 24 hours, however, and was trading in the red at $17.36, at the time of writing. The total value locked in the 7th highest-ranked DeFi token was $4.27 billion, according to DeFi Llama. 

The coin’s market started turning less volatile, as indicated by the contraction of the Bollinger Bands. Restricted price action for the coin can be expected going forward. 

While the buyers overtook the sellers for a brief period, the Chaikin Money Flow was again moving in a downward direction. It was at equilibrium, at press time, as capital outflows started to dominate the market. 

A reversal of the bullish crossover from the MACD lines can be expected in the future, as suggested by the indicator’s histogram and convergence of the indicator lines. 


Subscribe to our Newsletter


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://ambcrypto.com/binance-coin-tron-uni-price-analysis-25-june

Continue Reading
Blockchain4 days ago

Legends: The premium NFT minting platform

Uncategorized4 days ago

Origin Protocol Price Prediction 2021 – Will OGN Hit $5 Soon?

Assets3 days ago

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

Blockchain1 day ago

Active Bitcoin Addresses Reach the Lowest Level in 12 Months

Blockchain1 day ago

7 Altcoins That Make You a Billionaire in 2022

Blockchain3 days ago

PayPal and Visa Lead $300M Funding for Blockchain Capital

News4 days ago

New Bill Aims To Make Paraguay a Global Crypto Hub

News3 days ago

Crypto Trader’s $20 Investment Explodes to $1,184,154,683,482 on Coinbase – But He’s Not Cashing Out

Uncategorized5 days ago

Is $SHIB Better Than $DOGE? And Other Crypto ($BTC, $ETH, $CHZ) News From Paraguay

Blockchain4 days ago

3 Tons of Bitcoin Mining Rigs Will Reportedly Relocate From Guangzhou to Maryland

News5 days ago

Battlegrounds Mobile India sending your data to a Chinese Server: Report

Blockchain3 days ago

Cardano Founder: Ethereum Will Overtake Bitcoin

Blockchain3 days ago

Terra Virtua’s Mechagodzilla NFT sold for $33,700 by Blockmuse

Blockchain5 days ago

Every quad witching, this Chainlink price trend can be observed

Blockchain3 days ago

MATIC, USDT, BAL, WBTC + 3 more cryptocurrencies now available for trading on CoinJar

Blockchain2 days ago

Despite the Bounce: Bitcoin Might Still Retest $24K as Final Leg Down

Blockchain1 day ago

John McAfee’s Strange Suicide Leads To Even Stranger Conspiracy Theories

5 days ago

T1 Keria picked Lee Sin support for the first time in over 2700 days

3 days ago

Nemestice event may bring new Spectre arcana, Void Spirit lore

Blockchain3 days ago

‘Bitcoin’s six-week run of outflows has been driven’ by these factors

Trending