Bitcoin

Powerbridge Technologies To Acquire 5,600 Crypto Mining Machines

The deal with Cryptodigital Holdings will see Powerbridge Technologies acquire 2,000 BTC and 3,600 Ethereum mining machines Blockchain firm Powerbridge Technologies has announced that an agreement has been reached between it and Cryptodigital Holdings, for the purchase of 5,600 cryptocurrency mining machines. As per the agreement, the company will acquire 2,000 BTC mining machines and…

The deal with Cryptodigital Holdings will see Powerbridge Technologies acquire 2,000 BTC and 3,600 Ethereum mining machines

Blockchain firm Powerbridge Technologies has announced that an agreement has been reached between it and Cryptodigital Holdings, for the purchase of 5,600 cryptocurrency mining machines.

As per the agreement, the company will acquire 2,000 BTC mining machines and another 3,600 for mining Ethereum (ETH). The mining machines are expected to be ready for delivery in October, the China-based company said in the press release.

Of the BTC mining rigs, a good number will be of the latest Bitmain models of Antminer S19 Pro and Antminer S19s, while the Ethereum package will contain powerful rigs assembled using Nvidia’s RTX 3070 and RTX 3060 Ti. Together, Powerbridge expects to pump its computational power, with the hashrate reaching about 200 petahashes per second (PH/s) for the BTC rigs and 1,700 gigahashes per second (GH/s) from their Ethereum mining rigs.

According to Stewart Lor, the Chief Financial Officer (CFO) of Powerbridge Technologies, the company plans to invest more in the crypto mining sector. The firm seeks to add more mining machines to the 2,000 BTC rigs and 3,600 ETH mining rigs it expects to acquire.

The purchase of the 5,600 machines follows Powerbridge Technologies’ announcement on 12 August regarding its debut into the Bitcoin and Ethereum mining space.

A week later, the Nasdaq-listed company announced a collaborative partnership with Cryptodigital Holdings, intending to use the latter’s expertise to secure Bitcoin and Ethereum miners. The firm was also to oversee Powerbridge’s mining operations in North America as well as Asia.

The Bitcoin mining space is only beginning to stabilise after a rocky few months following a crackdown on crypto mining companies in China. The Bitcoin network hashrate, which had fallen to new lows as miners shut down operations, has also picked up significantly to currently hover around 127 EH/s as miners relocate to countries with cheaper electricity.

Bitcoin

Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
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Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
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Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”