buy

Bitcoin for Christmas: MicroStrategy buys another $600M

The firm reported it held 174,530 Bitcoin as of Nov. 29 — worth roughly $6.6 billion at a price of $37,726.

Business intelligence firm MicroStrategy purchased 16,130 Bitcoin (BTC) in November, bringing its total holdings to more than $6 billion.

In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the company acquired the BTC for roughly $593.3 million — a price of $36,785 per Bitcoin. 29, MicroStrategy reported it held 174,530 BTC — worth roughly $6.6 billion at the time of publication — at a price of $37,726.

The business intelligence firm has consistently purchased large volumes of Bitcoin since announcing it would adopt the cryptocurrency as its treasury reserve asset in August 2020. Saylor’s last announcement was in September, reporting MicroStrategy bought 5,445 BTC for roughly $147 million.

Related: MicroStrategy’s Bitcoin stash back in profit with BTC price above $30K

Read more

MicroStrategy adds another 1,045 Bitcoin to its growing crypto treasury

MicroStrategy buys another 1,045 Bitcoin for $29.3 million, taking its total holdings to 140,000 BTC worth over $12.6 billion.

MicroStrategy, an American business intelligence firm, has just announced its latest acquisition of an additional 1,045 Bitcoin (BTC) for approximately $29.3 million at an average price of $28,016 per BTC. This news was announced in a tweet by MicroStrategy executive chairman Michael Saylor on April 5.

As of April 5, 2023, MicroStrategy holds a total of 140,000 BTC, which was acquired for approximately $4.17 billion at an average price of $29,803 per BTC. This news comes as a significant milestone for the company as it continues to invest in Bitcoin as a reserve asset.

Number 14 on Cointelegraph’s Top 100 in crypto, Saylor has been an outspoken advocate for Bitcoin and has been leading the charge for corporations to adopt the largest cryptocurrency as a strategic asset. Saylor has repeatedly stated that Bitcoin is the securest and most reliable store of value that exists in the market today and that it offers a unique opportunity for businesses to protect their assets from inflation.

Saylor’s MicroStrategy recently repaid its Silvergate loan and bought 6,500 BTC at the end of March. The company’s Bitcoin strategy appears to be dollar-cost averaging but with vast amounts of money. 

Related: Michael Saylor is still on the hook for alleged tax evasion, says MicroStrategy filing

MicroStrategy made its first Bitcoin purchase in August 2020, and since then, the company has been consistently adding to its holdings. The latest purchase brings the total amount of Bitcoin owned by MicroStrategy to over $12.6 billion, which is a testament to the company’s confidence in the long-term potential of the cryptocurrency.

Magazine: Bitcoin in Senegal: Why is this African country using BTC?

Six reasons why blockchain makes sense for commercial real estate: Deloitte

The study reveals that blockchain technology is well-positioned to take over more than 50% of the entire leasing and sale process across commercial real estate.

Solutions built around blockchain technology offer several upfront benefits, including a censorship-resistant, irreversible distributed ledger. Deloitte’s study revealed blockchain’s position as a perfect fit for real estate use cases around leasing and selling.

Blockchain innovations often outdo traditional systems by not only digitizing information but also introducing a near real-time trustless environment, among other features. Big Four accounting firm Deloitte uncovered six opportunities for blockchain to disrupt the commercial real estate (CRE) industry.

The above infographic highlights six key pain points for CRE owners when leasing and selling their properties and maintaining complex transaction data. With this in the backdrop, Deloitte noted six opportunities for blockchain to serve the industry, which include improving processes around searching for properties and allowing people to make better decisions around leasing and purchasing.

Due to paperless processes, Deloitte envisions blockchain expediting property and payment evaluations and better-streamlining cash flow management. In addition, the technology’s inherent qualities also offer cheaper means of managing property ownership history while enabling efficient processing of financing and payments.

The study reveals that blockchain technology is well-positioned to take over more than 50% of the leasing and sale process, excluding steps requiring physical intervention such as property inspection and loan negotiations. Deloitte noted:

“Blockchain seems to be most applicable to dynamically configurable or co-sharing spaces, which have a relatively higher number of tenants and shorter duration leases.”

While Deloitte’s report reaffirms blockchain’s potential to drive transparency, efficiency and cost savings for commercial real estate owners, companies and CRE owners are advised to follow a three-step approach — educate, collaborate or create, facilitate — in determining the best way ahead for blockchain implementation.

Related: Nonfungible tokens don’t live on the blockchain, experts say

While nonfungible tokens (NFTs) have been advertised as blockchain-based technologies, experts contradict the notion.

Speaking to Cointelegraph, Jonathan Victor, the Web3 storage lead at Protocol Labs, revealed that main chains are very limited in size, which in turn makes storing data on the blockchain to be expensive. As a result, NFT ecosystems often opt for off-chain storage solutions.

Alex Salnikov, the co-founder of Rarible, confirmed the above claim as he told Cointelegraph:

“It is important to understand that the NFT living in a user’s wallet only points to the file it represents — the actual file itself, also known as an NFT’s metadata, is typically stored elsewhere.”

Despite the revelation, both experts noted that storage for NFTs can still be considered decentralized.

CleanSpark scoops up 1K+ mining rigs at ‘substantially discounted price’

“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford.

Crypto mining firm CleanSpark announced the purchase of more than 1,000 Bitcoin miners amid the market downturn, reporting a “substantially discounted price” compared to that earlier in 2022.

In a Thursday blog spot, CleanSpark said it had acquired 1,061 Whatsminer M30S rigs currently mining Bitcoin (BTC) at the Coinmint facility in New York, whose space the company shares with Riot Blockchain. The mining firm said it had purchased the machines for far less of price than that “just a few months ago,” hinting the recent bear market was responsible. CleanSpark also bought 1,800 Antminer S19 XP rigs in June following the market downturn.

“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford. “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is shaping up to be an incredible market for builders.”

According to CleanSpark, the addition of the 1,063 miners added 93 petahashes per second (PH/s) to the firm’s total hash rate, reported to be 2.8 exahashes per second (EH/s) as of June 30. The miners brought in a 1,863 BTC, 328 of which CleanSpark reported selling in June for roughly $8.4 million “for operations and growth.”

Related: Crypto miners in Texas shut down operations as state experiences extreme heat wave

Major mining firms including Argo Blockchain, Bitfarms, Core Scientific and Riot Blockchain have sold some of their BTC holdings amid the recent market downturn. Argo reported selling 637 BTC in June to reduce its debt on a loan from Galaxy Digital, while other firms have cited building their data capacity and ability to mine more coins.

Cointelegraph reported on Thursday that Bradford had joined Cointelegraph Innovation Circle, a private membership service launched in March aimed at business leaders and experts in the blockchain industry.

CleanSpark scoops up 1K+ mining rigs at ‘substantially discounted price’

“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford.

Crypto mining firm CleanSpark announced the purchase of more than 1,000 Bitcoin (BTC miners amid the market downturn, reporting a “substantially discounted price” compared to that earlier in 2022.

In a Thursday blog spot, CleanSpark said it had acquired 1,061 Whatsminer M30S rigs currently mining Bitcoin at the Coinmint facility in New York, whose space the company shares with Riot Blockchain. The mining firm said it had purchased the machines for far less of price than that “just a few months ago,” hinting the recent bear market was responsible. CleanSpark also bought 1,800 Antminer S19 XP rigs in June following the market downturn.

“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford. “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is shaping up to be an incredible market for builders.”

According to CleanSpark, the addition of the 1,063 miners added 93 petahashes per second (PH/s) to the firm’s total hash rate, reported to be 2.8 exahashes per second (EH/s) as of June 30. The miners brought in a 1,863 BTC, 328 of which CleanSpark reported selling in June for roughly $8.4 million “for operations and growth.”

Related: Crypto miners in Texas shut down operations as state experiences extreme heat wave

Major mining firms including Argo Blockchain, Bitfarms, Core Scientific and Riot Blockchain have sold some of their BTC holdings amid the recent market downturn. Argo reported selling 637 BTC in June to reduce its debt on a loan from Galaxy Digital, while other firms have cited building their data capacity and ability to mine more coins.

Cointelegraph reported on Thursday that Bradford had joined Cointelegraph Innovation Circle, a private membership service launched in March aimed at business leaders and experts in the blockchain industry.