The world of cryptocurrency and blockchain is constantly evolving, with new developments and opportunities emerging every day. In this article, we delve into some under-the-radar stories that have the potential to shape the future of this industry. From the next Bitcoin mining infrastructure boom in North America to acquisitions by Marathon Digital Holdings, and the growing use of crypto for earning extra income, we uncover the latest trends and insights that you need to know.
The recent Bitcoin mining ban in China has prompted a significant infrastructure buildout in other countries, particularly in North America. According to the Miner Weekly report by BlocksBridge Consulting, this expansion is set to strengthen the network and increase the hashrate dominance of Bitcoin. Several major mining companies have already revealed their plans for near and long-term site expansions, including Iris Energy, Riot, Northern Data, Core Scientific, Cipher Mining, Bitfarms, and Hut 8. The introduction of $1.2 billion worth of preordered bitcoin miners further supports the anticipation of this infrastructure boom.
Marathon Digital Holdings, a prominent Bitcoin mining company, has announced its intention to acquire rival Bitcoin miners and related infrastructure in the coming years. CEO Fred Thiel stated that Marathon Digital plans to expand considerately in 2024 and 2025, positioning themselves as consolidators within the industry. Thiel believes that the approval of a US exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) will benefit miners by increasing overall demand for BTC. The company has experienced a significant share price increase of over 400% this year.
A recent survey conducted by Binance, one of the largest cryptocurrency exchanges, revealed that nearly half of the respondents (45%) listed earning extra income as their primary use for crypto. Among these respondents, some aimed to supplement their primary income, while others focused on saving for a home or investing in other digital assets. The survey also highlighted that a significant number of respondents (36%) view crypto as a means of achieving financial security and independence. Additionally, high fees and slow transaction times were identified as the main challenges when dealing with traditional financial systems.
PancakeSwap Expanding with Pancake Protectors
PancakeSwap, a leading decentralized exchange on the Binance Smart Chain (BSC), has introduced its flagship game “Pancake Protectors” to Polygon zkEVM and Base networks. This player-versus-player (PvP) game offers on-chain rewards and allows players to deposit and withdraw CAKE tokens, the primary in-game currency, on Polygon zkEVM and Base. With over 25,000 daily active users during peak times, Pancake Protectors has gained popularity among the GameFi community, CAKE collectors, Pancake Squad, and Bunnies NFT holders. This expansion strengthens PancakeSwap’s presence and diversifies its offerings.
The future of the crypto and blockchain industry is full of potential, as evidenced by the developments mentioned in this article. The upcoming Bitcoin mining infrastructure boom in North America presents an opportunity for further network strengthening and hashrate dominance. Marathon Digital Holdings’ acquisition plans signify their commitment to expanding and consolidating within the mining industry. The growing use of crypto for earning extra income highlights the increasing financial opportunities afforded by this technology. Lastly, PancakeSwap’s expansion into different networks demonstrates the platform’s adaptability and ambition to provide diverse experiences for its users. As the industry continues to evolve, staying informed about these under-the-radar stories will allow individuals and businesses to navigate the crypto landscape more effectively.
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