Coindesk

Bitcoin mining firm Hut 8 (HUT) said on Tuesday that it expanded its bitcoin-backed credit facility with Coinbase Credit to $130 million, up from $65 million.The amended agreement also comes with a fixed interest rate of 9% versus the previous floating rate of between 10.5% and 11.5%. The maturity of the facility was extended to July 16, 2026.“This facility has been an efficient source of capital on our balance sheet,” said Sean Glennan, Hut 8’s chief financial officer. “The combination of improved terms and collateral and borrower protections reflects our conviction that risk discipline is essential to building a resilient and efficient capital structure.”Unlike many traditional loans, this one is secured by bitcoin holdings. Coinbase, however, is restricted from rehypothecating...

We stream data. We stream music. We stream video. Thanks to stablecoins, we are about to start streaming the whole economy.U.S. dollar stablecoins recently hit a milestone–they represent about 1% of the U.S. money supply (based on the M2 measure). Not a big deal, you may be thinking, but in fact, it might become one in the near future.Stablecoins are growing at a phenomenal rate, about 55% per year. While that is unlikely to continue forever, it is not hard to foresee a future, less than a decade away, where stablecoins represent an amount equal to about 10% of the M1, which is defined as cash, notes, and "easily accessible" digital money like current bank accounts.Stablecoins are designed to be...

CleanSpark (CLSK), a U.S.-based bitcoin BTC mining firm, said Tuesday that it reached 50 exahashes per second (EH/s) of operational hashrate — a milestone that makes it one of the largest mining operations in the world.The company built and operates more than 30 sites across Georgia, Mississippi, Tennessee and Wyoming.A vertically integrated setup gives CleanSpark control over energy procurement and operations, helping reduce costs and boost uptime. “It reflects years of focused strategy, disciplined execution, and a relentless commitment to doing things the right way,” said CEO Zach Bradford.Hashrate is a metric used to measure the computing power behind the Bitcoin network. The higher a given company’s hashrate, the higher its chances of earning bitcoin rewards.The firm is now preparing...

Litecoin shook off last week’s slump, rising 4% to an intraday high of $85.45 and then holding ground near $84. The move came on volume above its 20-day average, signaling conviction behind the breakout.An easing in global stress helped, with a supposed ceasefire between Israel and Iran.The next catalyst may be regulatory. The U.S. Securities and Exchange Commission is reviewing two bids for a spot Litecoin ETF.A green light to such a fund this year, to which Polymarket traders assign an 83% chance, would open LTC exposure to investors betting on crypto through traditional brokerages. Bloomberg analysts see a 95% chance of a spot LTC ETF approval.Technical Analysis OverviewLitecoin’s price burst through the $83.40 ceiling backed by 331,459 LTC being...

Avalanche’s AVAX has surged 8.2% in 24 hours, climbing from $16.29 to $18.50, establishing strong support at $18.03, but facing resistance at the $18.47-$18.50 zone, according to CoinDesk Research’s technical analysis model.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 6.3% in the same period of time.Technical Analysis• The price action formed a clear uptrend with higher lows establishing support at $18.03, while significant volume spikes at the $17.40 and $18.07 levels confirmed strong buyer interest.• A notable resistance zone emerged around $18.47-$18.50, where profit-taking occurred after the initial surge, though the asset maintained most of its gains and appears poised for further upside if it...