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Hive Digital buys 6,500 ASICs, starts Paraguay construction

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Hive Digital, a prominent cryptocurrency mining company, has announced plans to expand its Bitcoin mining operations in Paraguay. The company, which is already well-established in North America and Europe, aims to take advantage of Paraguay’s favorable energy conditions and growing role in the global cryptocurrency mining sector. Hive’s expansion into the country is part of a broader strategy to scale its operations and capitalize on the increasing demand for Bitcoin mining amid the broader digital asset boom.

Paraguay offers a compelling proposition for crypto miners due to its abundant and inexpensive hydroelectric power. The country generates a large portion of its energy from renewable sources, particularly hydroelectric plants, which provide a sustainable and cost-effective energy source for energy-intensive operations like Bitcoin mining. Hive Digital plans to leverage this low-cost, renewable energy to set up a new mining facility in Paraguay, positioning itself to reduce operational costs and enhance the profitability of its Bitcoin mining activities.

Hive’s move into Paraguay is part of a wider trend of cryptocurrency mining companies expanding into Latin America, where regulatory environments are becoming more favorable and energy costs remain competitive. With Paraguay becoming an increasingly attractive destination for mining operations, Hive Digital’s investment in the region signals the company’s commitment to maintaining its competitive edge in the global market. The company’s decision also underscores the importance of location and energy strategy in the cryptocurrency mining industry, where electricity costs often constitute the largest portion of operational expenses.

The expansion into Paraguay follows Hive Digital’s ongoing efforts to diversify and grow its mining capacity. The company has already made substantial investments in renewable energy-powered mining operations, and this move to Paraguay is expected to enhance its sustainability and scalability. As the global crypto mining industry continues to evolve, Hive’s decision to tap into Paraguay’s energy resources reflects broader industry trends toward more eco-friendly and cost-efficient mining practices.

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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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