Analysts say Bitcoin’s rally has begun, but the upside may be capped at an average spot BTC ETF cost basis near $84,000. Market analysts said Bitcoin’s (BTC) latest rally to $78,000 means that the “uptrend has began,” but the upside could be capped at $84,000, based on several key metrics. Key takeaways: Bitcoin profitability metrics say that BTC has entered the early stages of a “real rally.” Read more
The miner plans to refinance short-term debt and scale its US infrastructure as the broader industry pivots toward AI and high-performance computing. Core Scientific is seeking to raise $3.3 billion in debt to support its expanding data center operations across the United States, as crypto miners increasingly pivot toward high-performance computing and artificial intelligence workloads amid tighter conditions in the mining sector. The financing will come through senior secured notes due in 2031, the company disclosed Tuesday. The notes will be backed by Core Scientific’s assets, giving investors priority claims in the event of default. Unlike an equity raise, the offering allows the company to access capital without diluting existing shareholders. Proceeds from the offering are expected to fund ongoing data center development and refinance existing short-term debt. Read more