Coindesk

The total market cap of the 14 U.S.-listed bitcoin (BTC) miners tracked by JPMorgan (JPM) dropped 25% in March, the third-worst monthly performance on record, the Wall Street bank said Tuesday.Only one stock, Stronghold Digital Mining (SDIG), outperformed bitcoin (BTC) last month, the report noted. Miners with high performance computing (HPC) exposure underperformed pure-play miners for the second month in a row."We note valuations today are at the lowest levels relative to the block reward since the collapse of FTX in the Fall of 2023," analysts Reginald Smith and Charles Pearce wrote.The average network hashrate inched higher during the month to 816 exahashes per second (EH/s), the report said. The hashrate refers to the total combined computational power used to...

Zodia Custody's Chief Financial Officer, Jonathan Hugh, departed the London-based firm earlier this year, the company said.Samuel Howe, the company's former COO, also recently left the crypto custodian, as reported by CoinDesk.“Jonathan has been a valued member of the Zodia Custody team for the last two years and we remain grateful for his deep expertise, dedication, and guidance during a period of high growth for the company," a spokesperson for Zodia Custody said in emailed comments."While such transitions are part and parcel of business, our company is continuing to grow. In 2023 Zodia Custody had 97 employees. Today, we have grown to 140 employees globally and 2025 will see us deepen our presence in existing markets and expand into new...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 2551.25, up 1.5% (+38.08) since 4 p.m. ET on Monday.Nineteen of the 20 assets are trading higher.Leaders: SUI (+4.6%) and AVAX (+3.4%).Laggards: POL (-0.3%) and APT (+0.7%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Hut 8's (HUT) new subsidiary, American Bitcoin Corp., a partnership between the mining company and the Trump family, could be spun out, allowing the company to focus on data center hosting, broker Clear Street said in a report Monday.The broker noted that the new unit will be included in the bitcoin miner's financials, but the "businesses could be separated, allowing HUT to focus on high-margin data center hosting revenue." Hut 8 is expected to secure more power and expand its data center hosting business, the report said, and the "potential to secure a hyperscaler" is a key catalyst for the company.Eric Trump and Donald Trump Jr. are merging their firm, American Data Centers, with American Bitcoin, a new mining venture,...

Multiple tokens cratered as much as 50% within 30-minutes on crypto exchange Binance on Tuesday, with market watchers wondering if a misconfigured trading bot could have caused the declines.Act I, the Prophecy (ACT) slumped 50%, DeXe (DEXE) dropped 30% and dForce (DF) fell nearly 20% within minutes after 1100 UTC on Tuesday, data from Binance shows, with no immediate catalyst or explanation behind the sudden fall.Meanwhile, HIPPO, BANANA31, TST and LUMIA posted similar declines shortly after 1100 UTC, though not as large as ACT, with dips in some tokens like KAVA getting quickly purchased by fast-fingered traders.The tokens are not related or in the same sector. Data showed a surge in selling volumes roughly around the same time, with no...