The fire forced the facility to go offline to maintain safety, but none of the company's mining hardware was damaged in the incident. Greenidge Generation Holdings, a Bitcoin (BTC) mining company, disclosed that a fire broke out at its mining facility in Dresden, New York, where it co-hosts operations with mining company NYDIG. The fire broke out on Sunday due to an “electrical switchgear failure,” forcing the company to de-energize the entire facility, according to a Securities and Exchange Commission (SEC) filing. The fire did not damage the mining rigs, and the company said it would resume normal operations within a “few weeks,” without providing specific dates. Read more
Bitcoin recovered after four consecutive weeks in the red, surpassing the key $89,600 flow-weighted cost basis of Bitcoin ETF holders, the most significant cohort driving BTC inflows. This week, cryptocurrency markets staged a long-awaited recovery, following four consecutive weeks of downside momentum. Bitcoin’s (BTC) price reclaimed the $90,000 psychological mark on Wednesday, bringing some much-needed relief for Bitcoin exchange-traded fund (ETF) holders, who were once again back in profit as BTC traded above the key $89,600 flow-weighted cost basis of ETF buyers. Bolstering investor sentiment, Cathie Wood, the CEO and chief investment officer of ARK Invest, said the company’s $1.5 million Bitcoin bull market price prediction remained unchanged, pointing to billions in returning liquidity following the end of the US government shutdown. Read more
Trading was halted for about 10 hours before being restored on Friday, sparking a public backlash from derivatives and commodities traders. The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday into Friday, causing an outcry from traders before service was restored. Trading halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to an announcement from the CME. Trading was fully restored, and trading for all markets resumed at 1:30 pm UTC on Friday, the CME said in an update. Meanwhile, traders voiced their discontent with the critical failure, which locked some users in their positions, prevented others from placing new trades, and halted price discovery. Read more
As Tharimmune raises $540 million to build a Canton Coin treasury, the story behind the Canton Network shows that ICOs are not the only way to launch new blockchains. The blockchain ecosystem is home to several highly successful smart contract protocols, which makes the arrival of newcomers highly competitive. Canton Network is one of the newest ‘next generation layer one’ to vie for users and capital from incumbents like Ethereum and Solana. Alongside SUI and Aptos, Canton’s rise challenges the assumption that we have too many blockchains. Rooz said that the developers had taken a lot of learnings from the launches of other layer-1 protocols as well as the teething problems of established players like Ethereum. Read more
Quantum security is moving from theory to practice as layer-1 blockchains prepare long-term plans to adopt post-quantum cryptography. Quantum computers still look like lab toys: Racks of hardware, error-prone qubits and almost no real-world applications. Yet if you check the roadmaps of major layer-1 blockchains, a new priority now sits next to scaling and modularity: post-quantum security. The concern is simple even if the math isn’t. Most major blockchains rely on elliptic-curve signatures (ECDSA and Ed25519) to prove that a transaction came from the owner of a private key. A sufficiently powerful quantum computer running Shor’s algorithm could, in theory, recover those private keys from their public counterparts and let an attacker sign fake transactions. Read more