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IREN (IREN) reported fourth-quarter results that highlighted rapid progress in both its bitcoin mining and artificial intelligence infrastructure businesses, according to a Friday research report by broker Canaccord Genuity.The broker reiterated its buy rating on the stock and hiked its price target 60% to $37 from $24, citing stronger visibility in both mining and AI revenue streams.In early trading, shares are higher by 25% to $28.75.The company’s mining unit reached an annualized revenue run rate above $1 billion, powered by 50 exahash per second (EH/s) of capacity and one of the industry’s most efficient fleets at 15 J/TH, operating on 3.5 cent/kWh power, analysts led by Joseph Vafi wrote. That translates into a $36,000 cost to mine a bitcoin, well...

Amsterdam Bitcoin Treasury Strategy (AMBTS), established by Dutch crypto-asset service provider Amdax, has raised €20 million ($23.2 million) in its initial financing round. The funding, secured through private placements, will seed the company’s bitcoin accumulation strategy. The round, capped at €30 million ($34.8 million), is expected to close in September 2025.The proceeds will support AMBTS’s plan to establish one of the first independent bitcoin treasury companies in Europe, with a listing on Euronext Amsterdam. Over the long term, AMBTS aims to grow its holdings to at least 1% of all bitcoin in circulation.Marc van der Chijs, founder of bitcoin miner Hut 8, is among the early backers.Source link

The crypto market is down today, signaling risk aversion ahead of the U.S. core PCE inflation data release, which could influence the Federal Reserve's path on interest-rate cuts.The CoinDesk 20 Index, a measure of the broad market, has dropped 3.6% in the past 24 hours, with all but one member lower over that period.According to analysts at Bitunix , a hotter-than-expected figure could prompt the Fed to adopt a one-and-done stance following the expected rate cut at the September meeting."For BTC, watch whether $114.5K flips into support, or if a retest of $107.6K support confirms market resilience," the exchange told CoinDesk in an email. Derivatives PositioningOpen interest (OI) in futures tied to the top 20 coins, excluding SOL, has decreased...

Crypto Daybook Americas will not be published on Monday due to the Labor Day holiday. It will return on Tuesday.By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin (BTC) has dropped nearly 3% to $109,800 in the past 24 hours, pulling the broader market, including ether (ETH), down with it. But those losses are nothing out of the ordinary, meaning major tokens are trading near recent valuations.What's new today is that BTC's volatility is bouncing from recent multiyear lows (See Chart of the Day). The 30-day implied volatility, as represented by Volmex's BVIV and Deribit's DVOL indices, has surged above the 100-day simple moving average for the first time since mid-June. Perhaps the price turbulence that some traders predicted for...

HONG KONG — Eric Trump, executive vice president of the Trump Organization, praised China during a panel at BTC Asia in Hong Kong and said there is “no question” the country had “made an unbelievable mark on bitcoin and cryptocurrencies.”“There's no question that China is a hell of a power when it comes to this world and doing it, doing it well. By the way, I give the same credit to the Middle East. I mean, the Middle East has really embraced cryptocurrency in a massive way, and they are running and they are running fast in that endeavor,” the son of U.S. President Donald Trump said.Trump framed the U.S.–China dynamic as central to the future of digital finance, agreeing...