Connect with us

News

Hive expands data center operations in Sweden

Cryptocurrency mining company Hive Digital Technologies has revealed plans to expand its global presence through a new acquisition of property and a data center in Boden, Sweden.

Published

on

Cryptocurrency mining company Hive Digital Technologies has revealed plans to expand its global presence through a new acquisition of property and a data center in Boden, Sweden.

On Nov. 27, the company announced that it entered a property transfer agreement with Turis AB to take over the property of a data center previously constructed as a part of the European Union’s Horizon 2020 project.

Hive said this new property is in “close vicinity” to its existing data center in Sweden, and it plans to further develop the facility in its portfolio. It says the property will also house its incoming generation of ASIC servers and increase its Bitcoin production.

Hive owns and operates data center facilities in Canada, Sweden, and Iceland, and it promotes the use of green energy to mine digital assets such as BTC on the cloud.

Earlier in 2023, Hive dropped the word “blockchain” from its official name to reflect its “evolving focus” on financial opportunities in artificial intelligence, cloud computing and graphics processing units.

The company then said it plans to use its 38,000 Nvidia GPUs to offer small and medium-sized businesses a more efficient alternative to major cloud service providers.

The CEO of Hive, Aydin Kilic, and its chairman, Frank Holmes, mentioned in an interview that the pivot toward AI doesn’t negate or lessen its involvement in Bitcoin and crypto mining. Instead, they said the company is still heavily involved but that “blockchain and AI can certainly co-exist” and remain “pillars of Web3.”

In September, Hive was one of the mining companies involved in launching the Digital Power Network, which is a coalition affiliated with the Chamber of Digital Commerce to stress the importance of proof-of-work mining.

Business

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

Published

on

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.

Continue Reading

Business

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

Published

on

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.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

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.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk