This week the bitcoin mining company Genesis Digital Assets announced that the firm has secured 708 megawatts (MW) in capacity and revealed plans to create 130 full-time jobs in the United States. The chief operating officer at Genesis, Andrey Kim, said the firm has been pleased with “the pace” of the bitcoin mining company’s U.S. expansion.
Genesis Digital Assets U.S. Expansion Gathers 708 MW of Power
On Wednesday, Genesis Digital Assets revealed it has acquired 708 MW of capacity as the firm’s U.S. expansion continues. Presently, Genesis mines bitcoin in four locations in Texas, three locations in South Carolina, and one location in North Carolina. During the first half of 2022, Genesis secured the 708 MW from the Texas, South Carolina, and North Carolina regions.
The company said the expansion will create 130 full-time jobs and roughly 495 construction jobs for the local communities. “Every day, we are given a chance to create meaningful and lasting relationships by creating job opportunities for the local communities in which we operate,” Genesis’ global head of human resources Lydia Nyarko explained during the announcement on Wednesday. “Remaining intentional and impactful is incredibly important to GDA as we expand our candidate placement.” The Genesis Digital Assets executive added:
Witnessing our organization grow has been incredibly fulfilling. Bitcoin mining offers access to an exciting career path with lots of potential to grow as the industry becomes larger and larger in the years ahead.
Bitcoin Mining Operations Continue to Expand Amid Volatile Bear Market
Before securing more wattage during the course of H1 2022, Genesis announced the development of new mining centers, and the bitcoin mining firm acquired thousands of bitcoin miners from Canaan last year. As far as 2022’s American expansion is concerned, Genesis COO Andrey Kim said the mining firm is satisfied with the speed of U.S growth. Like many other bitcoin mining operations this year, Kim noted that the crypto market is still eruptive.
“We’re very pleased with the pace of our U.S. expansion,” the Genesis COO said in a statement on Wednesday. “Our team has worked incredibly hard to scale our capacity and while the market remains volatile, we remain more committed than ever to executing on our mission to provide the infrastructure that powers the Bitcoin network,” Kim added.
In addition to Genesis, a number of other bitcoin mining companies have been expanding and purchasing mining rigs during the downturn. The bitcoin miner Cleanspark announced earlier this week that it acquired a plug-in-ready facility with 86 MW of capacity, and last month it obtained thousands of miners at discounted prices. The firm Cipher Mining completed a 40 MW facility in Alborz, Texas, and miner Kryptovault AS announced moving operations north of the Arctic Circle in order to get cheaper electricity rates.
What do you think about Genesis Digital Assets revealing it has secured 708 MW of capacity for bitcoin mining operations? Let us know what you think about this subject in the comments section below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.
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Pi Network price rebounds: 2.7M migrate as bulls target $0.30 breakout
7M users have migrated to Pi mainnet, boosting market confidence. PI Network price is nearing a $0.30 breakout amid tight exchange supply and strong demand. ISO 20022 integration could link Pi to SWIFT and global banking systems. The Pi Network price has staged a strong rebound, with the PI coin surging above key resistance levels…
7M users have migrated to Pi mainnet, boosting market confidence.
PI Network price is nearing a $0.30 breakout amid tight exchange supply and strong demand.
ISO 20022 integration could link Pi to SWIFT and global banking systems.
The Pi Network price has staged a strong rebound, with the PI coin surging above key resistance levels amid renewed market optimism.
This rally comes on the heels of a major mainnet migration involving 2.7 million users and growing anticipation ahead of the network’s ISO 20022 financial integration scheduled for November 22, 2025.
Bulls regain control as Pi Network adoption surges
Pi Network’s market momentum has accelerated in recent days, with the token’s price climbing more than 25% in 24 hours and over 30% over the week.
The price currently hovers near the $0.28 mark, just shy of the psychological $0.30 breakout target eyed by bullish traders.
The price surge follows the completion of mass Know Your Customer (KYC) verification that enabled 2.69 million “Pioneers” to migrate their tokens to the mainnet.
🚨Welcome to the Mainnet! A massive 2.69 million Pioneers have migrated their Pi in the last week alone after a huge KYC verification wave. The ecosystem is expanding rapidly as we approach the Nov 22 ISO 20022 integration. The future of finance is being built now🚀#PiNetworkpic.twitter.com/zU1Myw7oGJ
The migration marks one of the largest transitions in Pi’s history and signals growing confidence in the network’s long-term viability.
This migration has triggered a surge in market demand, particularly as millions of tokens were moved into circulation while exchange supplies tightened.
According to PiScan data, centralised exchanges (CEXs) recorded an inflow of more than 2.422 million PI tokens in the past 24 hours, but this was offset by strong accumulation activity.
Source: PiScan
In October alone, over eight million tokens exited exchanges, reducing available supply by roughly 2.4%.
This supply squeeze has been a key catalyst in Pi’s latest rally, easing sell pressure and fueling upward momentum.
Technical setup supports Pi Network price recovery
Technically, the Pi Network price is displaying a clear attempt to break out of a bullish pattern.
The token recently exceeded the 50-day Exponential Moving Average (EMA) at $0.2627, a level that previously acted as a strong resistance zone.
A sustained movement above $0.28 could be a confirmation of a breakout that could target $0.36 in the short term.
Momentum indicators, however, paint a mixed picture, with the Relative Strength Index (RSI) currently sitting above 58, suggesting the asset is approaching overbought territory.
At the same time, the Money Flow Index (MFI) hints at slowing inflows, creating the possibility of short-term consolidation before another push higher.
A failure to reclaim $0.28 could trigger a pullback toward $0.20, where strong support has held since mid-October.
The network’s strong fundamentals and reduced exchange supply continue to draw traders and long-term holders.
Pi’s recovery from its October low of $0.172 to recent highs around $0.29 underscores the renewed optimism surrounding the project.
ISO 20022 integration boosts real-world confidence
Beyond market charts, Pi Network’s ecosystem continues to mature rapidly.
The project’s upcoming ISO 20022 integration, aligned with the global financial messaging standard, is seen as a gateway to real-world adoption.
The move will allow Pi to connect more efficiently with banking systems, potentially enabling SWIFT compatibility for faster and cheaper cross-border transactions.
Built on the Stellar Consensus Protocol (SCP), Pi Network’s blockchain prioritises scalability, security, and energy efficiency.
This technical framework supports regulatory compliance while minimising environmental impact, positioning Pi alongside ISO 20022-compliant assets like XRP and XLM.
Community confidence has also strengthened as Pi’s automated KYC system verified over 3.36 million users, resolving one of the project’s major bottlenecks.
The growing mainnet base now stands at 2.69 million active users, reflecting sustained ecosystem expansion ahead of the November 22 milestone.
Outlook: Can Pi coin sustain its momentum?
The Pi Network price rebound reflects both technical recovery and growing ecosystem confidence.
While short-term traders eye the $0.30 resistance for signs of continuation, long-term observers point to Pi’s steady progress toward financial standardisation and global interoperability.
As the project approaches its ISO 20022 rollout, Pi Network is steadily bridging the gap between blockchain and traditional finance.
But whether the current bullish run holds or pauses for consolidation, the network’s growing user base, tighter token supply, and upcoming integrations suggest that the Pi Network price may be entering a defining phase in its evolution toward real-world adoption.
Magic Eden price soared more than 35% amid a breakout above the key resistance of $0.50. Trading volume jumped 1,280% to over $129 million to signal buying pressure. “A big week” ahead and other potential catalysts could boost ME bulls. Magic Eden’s native token, ME, has experienced a significant price surge in the past 24…
Magic Eden price soared more than 35% amid a breakout above the key resistance of $0.50.
Trading volume jumped 1,280% to over $129 million to signal buying pressure.
“A big week” ahead and other potential catalysts could boost ME bulls.
Magic Eden’s native token, ME, has experienced a significant price surge in the past 24 hours.
Prices rose to intraday highs above $0.60 for the first time since the October 11 crash, with bulls’ gains coming amid a retest of a key technical barrier.
As the altcoins rank among the top gainers in the 500 largest cryptocurrencies by market cap, buyers are likely to hold the crucial level and target a new leg up.
But what could help ME price in the short term?
Magic Eden among top gainers as price pumps 35%
Per CoinMarketCap data, Magic Eden’s ME token is one of the standout performers in the cryptocurrency arena today.
The token’s 35% uptick in the past 24 hours has come amid a robust trading volume of $129 million – the metric is up 1,280% in the past 24 hours.
This performance has not only outpaced the broader market but also dwarfed top performers such as Pi Network, Virtuals Protocol and Zcash.
ZEC hovered around $270 on October 24, but was near $350 at the time of writing.
On the technical front, ME broke above the critical hurdle at $0.50, reaching intraday highs of $0.60.
While the altcoin is well off its all-time peak above $13.24, bulls have bounced off the all-time low of $0.23.
ME could retest $0.55 or $0.50 before seizing on an uptick across the market to target the psychological $1 mark.
RSI at 60 suggests bulls have more room to aim for gains.
Several factors appear to have converged to ignite this pump.
Notably, the official Magic Eden X account issued a cryptic yet bullish proclamation early this morning: “Big week ahead.”
This post, which garnered over 300 likes and widespread speculation within the community, hinted at impending announcements or developments that could further bolster the platform’s growth.
Such communications from project leads often serve as potent catalysts, drawing in retail traders and amplifying social sentiment.
ME gains also follow the community cheering of the recent acquisition of Dynamic by Fireblocks, which the platforms announced on October 23.
As a key user of Dynamic’s developer platform, Magic Eden could benefit significantly from this integration.
Dynamic powers over 50 million on-chain accounts for industry leaders, including Kraken, Ondo Finance, Magic Eden and zerohash.
Magic Eden’s seamless user onboarding and embedded wallet functionalities for NFT trading across chains.
The deal merges Fireblocks’ institutional-grade custody with Dynamic’s agile tools, creating what executives describe as the “first complete custody-to-consumer stack” for on-chain finance.
Overlaying these platform-specific tailwinds is a broader crypto market rebound.
While gains in October 2025 remain muted as the macroeconomic environment hit risk-on sentiment, Bitcoin’s climb to $116,000 and Ethereum’s break to $4,200 has bulls excited.
The big week for crypto includes a potential rally ahead of a Federal Reserve rate cut, the impact of the US-China trade deal and SEC approval for exchange-traded funds.
The macroeconomic lift could spill over to altcoins like Magic Eden.
Bitcoin Banknote-ATM Network Pilot Launches in El Zonte, El Salvador
Satnotes to dispense 500 satoshi‑denominated banknotes via a community ATM pilot on Jan 1, 2026. The Satnotes El Zonte Experiment announces in El Zonte, El Salvador on 6 November 2025 a pilot launch of the world’s first physical bitcoin banknote ATM network, with the inaugural dispensing of 500 “El Zonte Founding Edition” Satnotes scheduled for […… Read More