On December 23, Creek Road Miners, Inc., a cryptocurrency mining company, announced that it has bought 600 Bitmain Antminer S19xp (140Th) machines as part of its efforts to expand its crypto mining capabilities and to acquire more mining revenue. Once installed, these machines are expected to add over 125 Petahash (Ph/s) per second in hashing power to the company’s existing operations. However, the company did not disclose the financial terms.

Scott D. Kaufman, Chief Executive Officer of Creek Road Miners, talked about the purchase and said: “In 2022, we are working towards scaling our operations by executing on our Five Cornerstone Strategy. We truly value and appreciate BITMAIN’s ongoing support as we work towards achieving our strategic growth initiatives.”

More Information

Staking is the process of locking an amount of cryptocurrency for a particular time period to contribute to blockchain technology and earn network rewards. As of now, nearly 9 million ETH have been staked on Ethereum’s Proof of Stake system. This amount of ETH is locked until withdrawals are authorized while 8% of ETH stake reflects a bit of confidence in the network’s future.

As a matter of fact, the great news is that Rocketpool, an ETH staking pool went live in November. Besides, their much-anticipated debut went off without a hitch while anyone can join Rocketpool as a node operator. Moreover, anyone as a node operator can join if they are ready and able to give half of the needed stake for activation.

More Information

Retail interest in non-fungible tokens (NFTs) – digital certificates representing ownership of unique non-interchangeable assets – seems to have decoupled from the broader crypto market. But the search for information isn’t necessarily translating into action.

Google Trends, a tool for gauging general or retail interest in trending topics, is currently returning a perfect score of 100 for the worldwide search query “NFT” over the past five years. That’s a sign more and more people are scanning the web for information on NFTs. In comparison, searches for bitcoin and ether have eased significantly in recent weeks, with scores hovering below 50. A similar pattern is seen for dogecoin and shiba inu, the joke cryptocurrencies seen by small investors as leverage plays on bitcoin.

More Information

Following the launch of such a successful art career selling NFTs, Elise Swopes is looking to level the playing field in the NFT community.

Elise Swopes, a Brooklyn-based photographer and graphic designer, has made more than $200K in 10 months from selling her art as NFTs. Swopes features her art, which depicts photographed animations of cityscapes, on NFT marketplaces, including Nifty Gateway and SuperRare. In addition, she often incorporates personally-rendered digitally-designed elements of nature to these art pieces. Swopes is currently one of the very few Black women, in particular, to carve out a successful niche in the NFT community.

More Information

Mumbai-based digital assets exchange WazirX witnessed record-breaking activity this year, as investors from smaller Indian cities joined the crypto bandwagon despite lingering regulatory uncertainty and market volatility.

The Binance-owned entity registered annual trading volume of over $43 billion, marking a stunning 1,735% growth over 2020, according to a report published by the exchange and shared with CoinDesk on Thursday.

“We witnessed over 700% growth in signups from smaller cities like Guwahati, Karnal, Bareilly, among others,” the report titled Highlights and Observations from 2021 The Year of Crypto said. “It shows growing crypto adoption in the semi-urban and rural India.”

While the exchange added more than 200 market pairs, bitcoin remained the most traded cryptocurrency, followed by stablecoin tether and meme tokens DOGE and SHIB, WazirX token (WRX), and scaling solution Polygon’s MATIC.

More Information

Fast facts
Back in August, Canaan granted Genesis an option to purchase up to 180,000 additional Bitcoin mining machines along with its original sales contract of 20,000 machines, to fuel the growth of Genesis’s operation in North America and the Nordics.
The deals came after Genesis in June bought 10,000 machines from Canaan, as part of the duo’s long-term partnership. In July, Genesis announced that it had raised US$125 million in equity funding to support its expansion plans.
“Being a trusted computing solution provider with solid delivery capabilities, we have been supporting Genesis Digital Assets as they expand their mining farms across multiple geographic regions around the world,” Nangeng Zhang, chairman and CEO of Canaan, said in a statement released today. “We are also pleased to work with clients like Genesis Digital Assets to enhance renewable energy applications in mining.”
Abdumalik Mirakhmedov, co-founder and executive chairman of Genesis Digital Assets, said that the new order will “support our efforts to rapidly scale our operations as we work towards our goal of increasing our capacity to 1.9 gigawatts by the end of 2023.”
Canaan has seen strong growth this year. Its third-quarter report showed that it recorded a net income of 467.2 million yuan (US$72.5 million) in the period, compared to a net loss of 86.4 million yuan (US$13.5 million) in the same period last year, and a net income of 167.3 million yuan (US$26.2 million) in the second quarter this year.

More Information

Ethereum price analysis is bearish today.
ETH/USD  has likely set a new lower high at $4,100.
The market currently consolidates in a narrow range.
Ethereum price analysis is bearish today as we expect a reversal to follow later today after a strong spike to $4,100 was seen late yesterday. Therefore, ETH/USD has likely set another lower high and is now ready to move lower again.

Ethereum Price Analysis: ETH spikes to $4,100, another lower high set? 1
Cryptocurrency heat map. Source: Coin360
The market overall has seen a steady increase over the last 24 hours. The market leader, Bitcoin, gained 1.69 percent, while Ethereum 4.65  percent. Avalanche (AVAX) is the top performer from the top altcoins, with a gain of almost 14 percent.

Ethereum price movement in the last 24 hours: Ethereum retests $3,650 support, spikes to $4,100
ETH/USD traded in a range of $3,664.72 – $4,086.37,  indicating strong volatility in the market over the last 24 hours. Trading volume has seen an increase of 44.68 percent, totaling $27.15  billion. Meanwhile, the total market cap trades around $480.68 billion, resulting in a market dominance of 21.17 percent

More Information