Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Bitfarms Expands US Operations with $125 Million Stronghold Acquisition
Bitfarms has broadened its operations in the United States by acquiring Stronghold Digital Mining through a stock-for-stock merger valued at approximately $125 million. The agreement also includes the assumption of an additional $50 million in debt.
The Bitcoin mining company stated that this deal is a significant milestone in its strategy to expand operations and diversify energy sources. The merger will contribute 4 EH/s to Bitfarms’ existing hash rate, with the potential to surpass 10 EH/s by 2025 through fleet upgrades, according to Bitfarms’ official statement.
Michael Saylor Stuns Crypto Community With Bitcoin '21 Million' Statement
Michael Saylor, cofounder and chairman of MicroStrategy, made a statement about Bitcoin that has resonated within the crypto community. In a tweet, Saylor wrote, "Imagine everything, divided by 21 million," accompanied by a GIF celebrating Bitcoin Infinity Day, observed on August 21.
Bitcoin Infinity Day holds particular significance for enthusiasts, highlighting the importance of
Bitcoin's finite supply.
Saylor’s statement references one of Bitcoin's core principles: its limited supply. Unlike traditional fiat currencies, Bitcoin's total supply is capped at 21 million coins.
Andrew Tate’s DADDY Meme Coin Tumbles Following Romanian Police Raid
The Daddy Tate (DADDY) meme coin, associated with controversial influencer Andrew Tate, saw a sharp decline following a police raid at his residence. Tate, known for his contentious remarks, is facing charges of human trafficking and forming a criminal gang to exploit women.
On Wednesday morning, masked officers from Romania’s anti-organized crime agency, DIICOT, raided four properties in Bucharest and Ilfov.
The crypto market responded swiftly, with the DADDY meme coin dropping by 16% within hours of the raid. Although it has since recovered some losses, the coin is still down by about 10% over the past 24 hours. According to GeckoTerminal data, it remains 85% below its peak from June 2024.
Legendary Trader Peter Brandt Breaks Silence on Chances for New Bitcoin ATH
Veteran commodities trader Peter Brandt, who has been active in the industry since the 1970s, recently posted a tweet about Bitcoin, the world’s largest cryptocurrency. In his post on X, Brandt speculated that Bitcoin might soon reach a new all-time high.
Brandt mentioned that he anticipates the current bull market cycle for Bitcoin to become the most extended period post-halving in BTC's history before hitting a new peak. According to a table shared by Brandt, the bull market cycle from 2015 to 2017 took 24 weeks to reach new cycle highs. The subsequent cycle from 2018 to 2021 took 25 weeks. The current cycle began in 2022 and has already reached 23 weeks.
However, Brandt also cautioned that the data might suggest a different outcome, where a new all-time high might not materialize.
Aptos Foundation teams up with Web3 streaming platform
The Aptos Foundation, which focuses on promoting the development and expansion of the Aptos blockchain, has partnered with Myco, a Web3 streaming platform.
As a press release shared with Cointelegraph states, this collaboration will see Myco integrating its platform with the Aptos blockchain to enable decentralized streaming.
The partnership is a key component of Myco’s broader strategy to migrate its infrastructure to the Aptos blockchain and support its long-term goal of achieving full decentralization.
This announcement also coincides with the planned launch of Myco’s “native utility token” on the Aptos blockchain, scheduled for early Q4 of this year.
Hani El Khatib, co-founder and Chief of Web3 at Myco, noted that launching on Aptos represents a “significant milestone” for the streaming platform.
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