Hey Waivly Crew! 🌊 Core Scientific sold 79% percent of its Bitcoin holdings in June, according to the company’s monthly update. Stranger Things 4 surpassed 1 billion hours viewed within the first 28 days of its debut.
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Core Scientific sold 79% of its Bitcoin holdings in June
One of the largest crypto mining companies, Core Scientific, sold 79% of its Bitcoin holdings in June amid the market's crypto winter.
The Toronto-based company announced in a monthly update that it sold 7,202 bitcoin last month at an average price of $23,000 to raise about $167 million. This selloff leaves Core with 1,959 bitcoin left on its balance sheet, alongside $132 million in cash.
Proceeds from the sales were primarily used for payments toward ASIC servers, capital investments in additional data-center capacity, and debt repayments. The miner plans to continue selling self-mined bitcoin to pay operating expenses, fund growth, retire debt and maintain liquidity.
“We are working to strengthen our balance sheet and enhance liquidity to meet this challenging environment, and continue to believe that we will be operating in excess of 30 EH/s in our data centers by year-end 2022,” CEO Mike Levitt said. “We remain focused on executing our plan, while taking advantage of distressed opportunities that may arise.”
Core Scientific’s operations produced 1,106 bitcoin in June, about 36.9 bitcoin per day, a slight increase from May. Bitcoin production was supported by new server deployments, but production advances were limited by a “substantial increase in curtailment activity.”
The company plans to release its second-quarter earnings results on August 11.
Voyager Digital files for bankruptcy protection
Crypto broker Voyager Digital has filed for bankruptcy, just a week after suspending withdrawals, trading, and deposits on its platform.
On Tuesday, Voyager, and its two affiliates, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The Toronto-based firm estimated it had between $1 billion and $10 billion in assets and over 100,000 creditors.
“Voyager’s platform was built to empower investors by providing access to crypto asset trading with simplicity, speed, liquidity, and transparency. While I strongly believe in this future, the prolonged volatility and contagion in the crypto markets over the past few months, and the default of Three Arrows Capital on a loan from the company’s subsidiary, Voyager Digital, LLC, require us to take deliberate and decisive action now,” wrote CEO Stephen Ehrlich in a press release.
“The chapter 11 process provides an efficient and equitable mechanism to maximize recovery,” he added.
This comes shortly after Sam Bankman-Fried’s Alameda Research lent the struggling broker $200 million in cash and 15,000 Bitcoin, with a total value of about $485 million.
Voyager claimed Three Arrows Capital, the crypto hedge fund that filed for bankruptcy last week, owed it more than $673 million from loans of 15,250 Bitcoin and $350 million in USDC.
The Waves
👀 Bank of England calls for enhanced crypto regulation
💼 Layoffs continue in the crypto industry
🚀 Ethereum Name Service registrations spike 216% in one week
🤝 Korea and US agree to share investigation data on Terra
Tech Special
Stranger Things 4 surpasses 1 billion hours viewed
Stranger Things 4, the latest season of the popular horror drama show, has become the second Netflix show to surpass a billion hours viewed.
The streaming giant revealed the season racked up 1.15 billion hours of viewing time within its first 28 days of availability. The first seven episodes had a viewing time of 930.32 million hours, while episodes 8 and 9 reached 221 million hours viewed after being released on July 1st.
That makes Stranger Things 4 the second most-watched Netflix season ever after Squid Game, the Korean survival drama which crossed 1.65 billion hours viewed within the same period.
However, with over three weeks left to amass more viewing for the final two episodes, there’s a good chance Stranger Things will get close to or potentially pass Squid Game’s record.
ASUS launches the ROG Phone 6 ROG Phone 6 Pro
Taiwanese tech company Asus has announced two new gaming-focused phones, the ROG Phone 6 and ROG Phone 6 Pro.
Both models feature a 6.78-inch Samsung AMOLED display with a 165 Hz refresh rate and 720 Hz touch sampling rate, a significant improvement from the previous ROG Phone 5S.
Qualcomm’s high-end Snapdragon 8+ Gen 1 processor powers both phones, which come with up to 512GB of storage. They have dual 6,000maH batteries, similar to previous models, and charge at an upgraded 65W.
The main difference between the two models is that the standard Phone 6 comes in either Storm White or Phantom Black, while the Phone 6 Pro is only available in Storm White.
Additionally, the Phone 6 tops out at 16GB of RAM, but the Pro will go up to 18GB. Both models will launch in Europe first, with the Phone 6 retailing at £899/€999 and the Phone 6 Pro at £1,099/€1,299.
Own and secure your crypto Ledger
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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.
The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.
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