Bitcoin dropped sharply after a higher-than-expected US PPI print shocked traders. Key takeaways: Bitcoin drops below $118,000 after a hot US PPI print fueled inflation concerns. Federal Reserve interest rate cut odds dropped to 90.5% from 99.8%. Read more
The Bitcoin miner’s pivot into AI infrastructure hosting includes a decade-long colocation agreement with Fluidstack, backed by Alphabet’s Google. TeraWulf has become the latest cryptocurrency miner to pivot into AI infrastructure hosting, reaching a long-term agreement with Fluidstack that’s backstopped by Alphabet’s Google — in a move expected to significantly increase the company’s revenue run rate. During its shareholder call on Thursday, the company disclosed that it has signed 10-year colocation lease agreements with Fluidstack, an AI infrastructure provider, worth $3.7 billion in contract revenue. That figure could more than double if five-year extensions are exercised. Google’s involvement comes through supporting Fluidstack’s $1.8 billion lease obligations with TeraWulf and providing debt financing. In return, Google received warrants for roughly 41 million WULF shares, representing about 8% of the company. Read more
Major Wall Street players are adding talent to support their growing cryptocurrency operations. Charles Schwab, Fidelity and other traditional companies based in the United States are hiring for senior crypto positions to seemingly make a push into the industry. The open positions come as regulatory clarity has increased, paving the way for TradFi to enter the space. The open positions indicate a solid push into the crypto space. Schwab, for instance, is hiring for a senior product manager in crypto trading and a senior product manager in crypto onchain experiences. As Cointelegraph has reported, the $10 trillion asset manager plans to launch Bitcoin (BTC) and Ether (ETH) spot trading, with BTC trading services available by April 2026. Fidelity, which has $6.4 trillion in assets, is hiring for a crypto technology risk analyst. Technology company Booz Allen Hamilton is seeking a cryptocurrency subject matter expert, and Standard and Poor’s Global is hiring a senior analyst for global research and development i...
Block’s Proto Rig and Proto Fleet aim to reduce upgrade costs and extend rig lifespans, giving miners a potential edge in a capital-intensive, increasingly AI-integrated industry. Bitcoin-focused fintech company Block Inc. has introduced a new cryptocurrency mining system designed to extend the lifespan of mining rigs and lower operational costs — a potential boost for miners facing steep capital expenditures to maintain facilities. At the center of the launch is Proto Rig, a modular system that replaces the traditional three-to-five-year mining rig life cycle with hardware built to last a decade or more, Block announced Thursday. Instead of discarding entire units, miners can swap out individual hashboards as technology improves, potentially cutting upgrade costs by up to 20% per cycle. Read more