Coindesk

Bitdeer Technologies Group (BTDR) said its fourth-quarter net loss widened to $531.9 million from $5 million in the year-earlier quarter.The Singapore-based bitcoin (BTC) mining company attributed the expenses to strategic investments in developing its proprietary ASIC mining rigs.“While our focus on ASIC development temporarily limited hashrate expansion, we made significant progress in strengthening our technology roadmap,” said Matt Kong, the firm’s chief business officer. “Owning our own ASICs allows us to rapidly deploy hashrate, lower cost and improve capital efficiency.”Revenue fell to $69 million, down 40% from the year-earlier period, with declines across self-mining, hosting and cloud hash rate services.The company is doubling down on growth, aiming to increase its self-mining capacity to 40 exahash per second (EH/s) by the...

Matt Cole, CEO of Strive Asset Management—an investment firm co-founded by Vivek Ramaswamy—has urged GameStop to adopt bitcoin as a reserve asset.Cole sent a letter to Ryan Cohen, Chairman and CEO of GameStop (GME), on Feb. 24. According to Cole, GameStop has a unique opportunity to redefine itself as a market leader with its nearly $5 billion cash reserve."We believe GameStop has an incredible opportunity to transform its financial future by becoming the premier bitcoin treasury company in the gaming sector."According to the letter, Strive's clients hold shares of GameStop through the asset management's exchange-traded funds (ETFs), giving the firm "a fiduciary responsibility and vested interest" in GameStop's success. Cole said his firm holds GME stock in three different ETFs...

"I wouldn't even be in this situation if it wasn't for you. You brought down so much f---ing heat on me." — Robert De Niro as Ace Rothstein to Joe Pesci's Nicky Santoro in Martin Scorsese's Casino.Bitcoiners could be forgiven for blaming the rest of crypto for the bear move that took the price of BTC down more than 20% from a record high above $109,000 just five weeks ago to as low as $87,000 earlier on Tuesday.Bitcoin touched that record a day ahead of the presidential inauguration amid a speculative frenzy in memecoins that hit its dénouement as the Trump team thought it a good idea to launch tokens associated with the incoming president and first lady. The tokens...

"Build for where the industry is going, not for where it is." This mantra has fueled disruptive innovations for decades — Microsoft capitalized on microprocessors, Salesforce leveraged the cloud and Uber thrived in the mobile revolution.The same principle applies to AI — Generative AI is evolving so rapidly that building for today’s capabilities risks obsolescence. Historically, Web3 has played little role in this AI evolution. But can it adapt to the latest trends reshaping the industry?2024 was a pivotal year for generative AI, with groundbreaking research and engineering advancements. It was also the year that the Web3-AI narrative transitioned from speculative hype to glimpses of real utility. While the first wave of AI revolved around mega-models, long training cycles, vast...

Grayscale Investments, a crypto asset-management company looking to add XRP and Cardano exchange-traded funds to its offerings, is now starting down the route for an ETF investing in Polkadot's DOT token as well. Nasdaq has filed a formal Form 19b-4 request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Polkadot Trust (DOT). The filing starts a 45-day review period for the regulator to acknowledge the filing. The regulator can approve, or disapprove the application or extend the review period.In recent weeks, Grayscale, which already offers bitcoin and ether ETFs, has filed with the SEC to convert its XRP Trust into an exchange-traded fund, and filed to list a spot Cardano ETF....