AI data centers face local opposition similar to Bitcoin mining resistance

Power-intensive projects meet community pushback It’s interesting to see history repeating itself, I think. For years, Bitcoin miners learned that cheap power and available land didn’t automatically mean communities would welcome them. Now AI data center developers are hitting the same walls. They’re facing local resistance over electricity demands, infrastructure costs, and environmental concerns. The…

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Chinese officials give residents $26 million in CBDC as a present to welcome the Spring Festival

Chinese Officials Give Residents $26 million in CBDC as a Present to Welcome the Spring Festival

On this joyous occasion of the Spring Festival, China is allocating a generous sum of $26 million in Central Bank Digital Currency (CBDC) to its citizens. This munificent gesture reflects their commitment to financial inclusion and technological progress. The government’s digital Yuan activities have seen a massive uptake in multiple cities, with the total value…

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Shivom Announces Rebrand to HLTH.network to Build Global Tokenized Healthcare Ecosystem

Shivom Announces Rebrand to HLTH.network to Build Global Tokenized Healthcare Ecosystem

LONDON, UK / ACCESSWIRE / August 26, 2021 / Shivom rebrands as the HLTH.network to become the base layer protocol for global health data and expand its product line. Founded by renowned scientists such as Harvard Professor George Church, Shivom, a project that developed the world’s first blockchain-powered genomics marketplace, announced today that it would…

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The Fahrenheit Consortium, composed of Arrington Capital, a venture capital firm, and US Bitcoin Corporation, a miner, has successfully acquired Celsius Network's assets through a court-sanctioned auction process. The consortium has received assets worth around $2 billion from Celsius, consisting of their institutional portfolio of loans, staked crypto assets, mining units, and various alternative investments. https://twitter.com/CelsiusNetwork/status/1661807582099505190?t=X-nq5KM0tN8Xd83LQIIhkg&s=19 About the Celsius Acquisition As per legal records, the acquisition of Celsius Network, which had gone bankrupt, has been won by The Fahrenheit Consortium. After being acquired by the Fahrenheit Consortium, Celsius Network is set to be managed by a new entity called NewCo, which will be owned by its creditors. The group, consisting of Arrington Capital and US Bitcoin Corp, will provide the financing, management team, and technology needed to create and operate NewCo. https://twitter.com/CelsiansNetwork/status/1661741113160630272?t=7lGZ3olS6iTGVPvPObF7Cg&s=19 In addition, Celcius has disclosed that they have also secured a secondary proposal from the Blockchain Recovery Investment Consortium (BRIC) which will act as a backup plan and be implemented if needed. NovaWulf, the competing bidder, was unsuccessful in securing the purchase. Significance of this Acquisition After the crypto market crash, Celsius declared bankruptcy in July. Despite this setback, the company had previously secured $1.2 billion through a token sale in 2018 and had a valuation of $3.1 billion during a funding round in April 2021. Luckily, the Fahrenheit Consortium has taken over Celsius, which is anticipated to furnish the required resources for the company's ongoing operation and service expansion. The consortium has committed to investing as much as $500 million in Celsius's assets, which will supply the essential capital for the company's business development. It is also anticipated that BRIC will establish a mining corporation that will be publicly traded, granting Celsius creditors full proprietorship of the equity concerns. Moreover, there is a possibility of a management contract with GlobalXDigital. Celsius aims to discuss and present several crucial papers in the following weeks, subject to endorsement from the bankruptcy court.

Fahrenheit Consortium Emerges Victorious in Auction for Celsius’s Assets

The Fahrenheit Consortium, composed of Arrington Capital, a venture capital firm, and US Bitcoin Corporation, a miner, has successfully acquired Celsius Network’s assets through a court-sanctioned auction process. The consortium has received assets worth around $2 billion from Celsius, consisting of their institutional portfolio of loans, staked crypto assets, mining units, and various alternative investments….

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Hashlock Audits Bethel’s Groundbreaking Data Security Platform

Hashlock Audits Bethel’s Groundbreaking Data Security Platform

Hashlock, known for its expertise in Web3 security and smart contract audits, has carried out a thorough review of Bethel’s systems. Bethel uses decentralized storage and zero-knowledge proof (ZKP) technology to set new standards for data privacy. This partnership reinforces Bethel’s commitment to secure and reliable solutions in a fast-changing digital world. Bethel: A New…

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