Bitmain Redux: Bitdeer and BitFuFu Are About to Test US Stock Market's Mining Appetite

Bitmain-Backed BitFuFu Abandons Mining Rigs In Kazakhstan Due to Power RationingCloud mining has proven a popular model with retail and institutional investors, so much so that Bitdeer said that its hosting plans were sold out for several weeks starting Jan. 31. “We may not have any hosting plans any time soon,” and “plans are just on high demand,” said a customer service representative on Bitdeer’s official English channel on Jan. 31.

One of the ways the platforms can make money, is from the difference between the higher retail prices that they charge their clients and the lower bulk prices at which they buy electricity and equipment. However, given the nature of the business of cloud mining, it's possible the miners could be spared some regulatory scrutiny. “As hash rate hosting marketplaces with a distributed portfolio of mining data centers, they can democratize access via cloud mining and, to a certain extent, be less directly subject to regulatory risks of specific jurisdictions,” China Tonghai Securities’ Pau said.

Bitdeer will merge with Blue Safari Corporation at an implied market cap of $4.08 billion, according to a. The new company will be renamed to Bitdeer and Wu will continue to serve as chairman of Bitdeer’s board, according to SEC filings.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Mildly positive on a late rebound in US markets, Fed Powell’s speech eyedAsian Stock Market: Mildly positive on a late rebound in US markets, Fed Powell’s speech eyed By Sagar_Dua24 Asia Nikkei Ukraine Fed InterestRate
Source: FXStreetNews - 🏆 14. / 72 Read more »

Russia to open stock market this week: Impact will be 'internal,' not globalRussia has kept its stock market closed for three weeks as officials sought to avoid a market death spiral due to a sell-off and heavily inflated currency. here are my naked photos NEWS FLASH: There are a ton of conservatives who think Putin is in Ukraine hunting Nazis all because of Fox News. I’m buying !
Source: FoxBusiness - 🏆 458. / 53 Read more »

Morgan Stanley warns last week’s stock bounce was ‘vicious bear market rally’Morgan Stanley’s chief investment officer Mike Wilson said last week’s stock surge is ‘a rally to sell’ as ‘bear market rallies are the most vicious.’
Source: nypost - 🏆 91. / 67 Read more »

European stocks edge higher, yields rise as markets adjust rate expectationsEuropean stock indexes opened slightly higher on Tuesday, while U.S. and European government bond yields rose to new multiyear highs as investors adjusted their expectations for rate hikes following hawkish comments from the U.S. Federal Reserve.
Source: Reuters - 🏆 2. / 97 Read more »