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Riot Blockchain announces plans to move mining operations to Texas

Crypto mining company Riot Blockchain announced that it has begun relocating rigs from its New York data facility to Texas.

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Crypto mining company Riot Blockchain announced that it has begun relocating rigs from its New York data facility to Texas.

Riot said it has transitioned some of its mining rigs from a Massena, New York facility named Coinmint as part of an effort to reduce the firm’s operating expenses through lower power costs and eliminate “all third-party hosting fees.” The company said it planned to “ship the balance of its S19 miner fleet” at Coinmint to Riot’s Whinstone facility in Rockdale, Texas.

The move comes amid many parts of Texas experiencing temperatures over 100 degrees Fahrenheit, and power demands rising for air conditioners to keep residents cool. Data from the state’s primary energy provider, the Electric Reliability Council of Texas, forecast that prices for its southern hub which would include Riot’s facility in Rockdale would peak at $95.94 per MW-hour over the next 24 hours. However, some reports suggest that energy production from wind and solar has helped to reduce costs amid increasing power demands.

Riot’s operations in Texas seemingly included preparations for the state’s heat wave. The company reported the construction of two air-cooled buildings in progress, one completed, and another in which where initial miner deployments have begun as the firm finished some electrical work. The crypto mining firm reported it had produced 421 Bitcoin in June but sold 300 BTC for $6.2 million, leaving Riot holding roughly 6,654 coins as of Thursday.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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