Category: general

MANILA, Philippines–RJ Abarrientos and Ange Kouame joined Quentin Millora-Brown as new additions to the Gilas Pilipinas pool of coach Tim Cone. The Samahang Basketbol ng Pilipinas made the announcement on Tuesday as the pool was expanded to a total of 16 for the 2027 Fiba World Cup Asian Qualifiers, which start late next month. READ:

BRUSSELS, Belgium — Eurozone inflation edged up in September buoyed by energy costs, official data showed Wednesday, reinforcing expectations the European Central Bank will not make further interest rate cuts this year. Inflation rose to 2.2 percent last month, from two percent in August, the EU’s statistics agency said, above the ECB’s two-percent target. READ: European Central

Microsoft has announced the appointment of Judson Althoff, its Chief Commercial Officer (CCO), as the new CEO of its commercial business.

MANILA, Philippines — The Government Service Insurance System (GSIS) said it would provide emergency loans to members and pensioners in Cebu, after a magnitude 6.9 earthquake struck the province this week, damaging buildings and disrupting daily life. The GSIS Emergency Loan Program will be opened to qualified members and pensioners residing or working in Cebu, the

MANILA, Philippines — Manila Water Company Inc. has completed its acquisition of WawaJVCo Inc., another unit of the Razon Group behind the water supply dam in Rizal province, for P37.8 billion. The group disclosed to the local bourse on Wednesday that the closing conditions for the deal had been met just this week. This came

Con el punto México acumula dos unidades en el grupo C del Mundial Sub-20 y ahora cerrará la fase de grupos ante Marruegoos

Dr Jane Goodall died of natural causes in California where she was on a speaking tour, Jane Goodall Institute said in a statement on Facebook on Thursday

The post Bitcoin Miners’ Market Cap Soared in September to Record High appeared on BitcoinEthereumNews.com.
In brief The market cap of top Bitcoin miners is soaring. Last month, the top public Bitcoin miners tracked by JP Morgan passed the $50 billion mark. The surge comes as companies in the space pivot to high-powered computing. The market cap of Bitcoin miners soared in September as firms in the space benefited from pivots to high-powered computing that feeds the burgeoning artificial intelligence sector, according to a report from JP Morgan.   Analysts at the banking giant highlighted the surge in a Wednesday report, noting that the combined value of the 14 top publicly traded miners it tracks passed $50 billion for the first time ever.  Top mining stocks this week have jumped in value with the price of the leading cryptocurrency, too, with Mara, Riot, and CleanSpark all up significantly over the week—and the past month. Those firms retreated slightly on Wednesday.  “Growth in aggregate market cap outpaced bitcoin price appreciation for the sixth consecutive month, as operators continue to diversify their businesses away from bitcoin mining towards HPC,” the report read.  The surge in market cap comes as miners look to high-powered computing to increase profits. Google last month announced it was backstopping a deal between AI compute company Fluidstack and Bitcoin miner Cipher, giving Google the right to buy a 5.4% stake in Cipher. Bitcoin miners—typically industrial operations consisting of warehouses full of computers that work to secure the network—are rewarded in newly minted coins for processing blocks on the decentralized payment network.  But when the price of the biggest cryptocurrency drops, businesses may struggle to cover their costs.  Experts have told Decrypt that while both Bitcoin mining and running a data center to power AI businesses may appear similar, the pivot from crypto to HPC isn’t always easy and requires different expertise.   HIVE Digital’s…

Bitcoin is now back trading above $115,000, but the recovery comes with a shadow that cannot be ignored. A new gap opened on the CME Bitcoin futures chart, and while the spot market has pushed higher since then, the presence of this gap opens up a bearish scenario. These gaps have a history of pulling Bitcoin back down to fill them, and the most recent one opens up questions about how long the current bullish momentum can last. Bitcoin Opens Up Huge CME Gap Crypto analyst Daan Crypto noted on the social media platform X how Bitcoin opened the week with a huge CME gap that has continued higher since the futures open. This gap is important, as it has been a while since Bitcoin opened with such a huge gap. Related Reading: Bitcoin Price Forms Bearish Evening Star Pattern On Weekly Chart, But Can Price Go Below $100,000? As shown in the chart image below, this CME gap is between $110,000 and $111,300. Gaps on CME futures have a tendency to close fairly quickly, meaning that Bitcoin often retraces to the level of the gap before resuming its trend. If that happens this time, the short-term structure of Bitcoin’s price action could deteriorate into a bearish momentum.  However, Daan also noted that this gap should not be considered in play unless Bitcoin drops below $111,000. But if that happens, the futures chart could drag spot prices lower and turn recent strength into weakness. What Does This Mean For Bitcoin? A CME gap occurs because the Chicago Mercantile Exchange does not trade over the weekend, unlike the spot Bitcoin market, which operates 24/7. When Bitcoin makes a big move on Saturday or Sunday, CME futures reopen on Sunday evening at a different level than they closed on Friday, and this leaves an empty gap on the price chart.  Related Reading: Bitcoin Bull Run Is Over? These Signals Show Where The Market Is At It’s common knowledge that Bitcoin tends to fill these gaps by returning to the level of the gap before continuing in its trend. If Bitcoin retraces to close this latest gap between the $110,000 to $111,000 range, it would erase the recovery that pushed it to $115,000 and bring the price back into a zone of uncertainty. According to Daan Crypto, if that were to happen here, then the entire structure would look pretty bad in the short term. However, this might be one of those very few gaps that never closes or not until months later. This would most likely be the case, unless Bitcoin breaks below $111,000. A dip below $111,000 could ultimately see Bitcoin losing the $110,000 price level again.  If Bitcoin can stay above $115,000 and there’s enough buying pressure, then the gap can be ignored in the short term. The next test will be whether buyers can sustain the recently found momentum and push towards $120,000. At the time of writing, Bitcoin is trading at $116,380, up by 1.4% in the past 24 hours. Featured image from Pixabay, chart from Tradingview.com