EddieJayonCrypto

 10 Jul 24

tl;dr

Block, Jack Dorsey's financial services company, has announced that Core Scientific, a major publicly traded Bitcoin mining firm, is the first buyer of its 3 nanometer (3nm) mining ASICs. Block has agreed to provide Core with 15 exahashes per second (EH/s) worth of chips, representing a 60% increase...

Block, Jack Dorsey's financial services company, has announced that Core Scientific, a major publicly traded Bitcoin mining firm, is the first buyer of its 3 nanometer (3nm) mining ASICs. Block has agreed to provide Core with 15 exahashes per second (EH/s) worth of chips, representing a 60% increase to the mining firm’s hash rate as of June 2024.

The new mining platform built around Block’s mining chip is expected to improve efficiency, reliability, and uptime in large-scale mining operations. Core Scientific's stock is up over 2% on the day and has rallied 167% compared to two months prior, while Block's shares are down over 1% on the day and nearly 12% since the start of the year.

Developed by Block’s Proto team, the company claims the new mining platform being built around its mining chip will “create improved efficiency, reliability, and uptime in large-scale mining operations.” Firms like Core Scientific, for instance, will be able to optimize their use of space and operational resources within their data centers.

Core’s stock (CORZ) is up over 2% on the day, marking an impressive 167% gain compared to two months prior. The stock has rallied alongside other public miners as fears surrounding miner capitulation following April’s Bitcoin halving event have finally started to blow over. Block (SQ) hasn’t been so fortunate: the company’s shares are down over 1% on the day, and nearly 12% since the start of the year.

Block first announced the completion of its Bitcoin mining chip in April. Dorsey emphasized that the system would help miners of “all types to survive and thrive in the fifth mining epoch,” referring to the period after Bitcoin’s fourth halving. Aside from new mining infrastructure, Block began shipping its Bitkey hardware wallet in March—a rock-like device for beginner-friendly, multi-signature Bitcoin self-custody.

More about Iris Energy Ltd
Stock Market Analysis: Iris Energy Ltd

Stock Market Analysis: Iris Energy Ltd

Sector: TECHNOLOGY

Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION

Market Cap: 2.395 billion

Dividend Yield: -0.06

P/E Ratio: 2.179

Earnings Per Share (EPS): -0.0532

Volume: 165,535,000

Price: $15.58

52-Week High: $0

52-Week Low: $3.798

More about Core Scientific Inc. Common Stock

Core Scientific Inc. Common Stock Summary

Core Scientific, Inc. provides blockchain and artificial intelligence (AI) infrastructure services in the United States. The company is headquartered in Austin, Texas.

Sector: TECHNOLOGY

Industry: SERVICES-COMPUTER PROCESSING & DATA PREPARATION

Market Cap: 542,047,000

Dividend Yield: None

Beta: None

EPS: 1.323

P/E Ratio: -0.491

Volume: 502,400,000

Stock Price: 6.75

52-Week High: 0

52-Week Low: 0

RSI (14): 0.171

More about Dakota Gold Corp.
Stock Market Analysis: Dakota Gold Corp.

Dakota Gold Corp. Stock Analysis

Industry: ENERGY & TRANSPORTATION

Sector: METAL MINING

Market Cap: $208,687,000

Support Level: $5.75

Resistance Level: $0.44

Bullish Trend: No

Bearish Trend: No

Breakout: No

More about MicroStrategy Incorporated

MICROSTRATEGY INCORPORATED

MicroStrategy Incorporated provides global business analysis software and services. The company is headquartered in Tysons Corner, Virginia.

Industry: Technology

Sector: Services - Prepackaged Software

Market Cap: 23.09 billion

Dividend Yield: None

PE Ratio: None

Price/Earnings Growth: -10.67

Price/Book: 32.62

Profit Margin: -0.174

Revenue: 489,592,000

Gross Margin: 1,959.82

Operating Margin: -0.775

Return on Assets: -0.055

More about Tesla Inc

As of the latest data, Tesla, Inc. continues to assert its dominance in the electric vehicle and clean energy sectors. In 2020, the company achieved remarkable sales figures, capturing 16% of the plug-in market and 23% of the battery-electric market. Its product lineup encompasses electric cars, battery energy storage solutions, solar panels, solar roof tiles, and related services. Additionally, Tesla Energy, a subsidiary, stands out as a leading developer and installer of solar photovoltaic energy generation systems in the United States, while also emerging as a major global supplier of battery energy storage systems, having provided 3 GWh of battery storage in 2020.

Within the manufacturing sector, specifically in motor vehicles and passenger car bodies, Tesla, Inc. commands a significant market presence. With a market value of 836.62 billion and a share price of 67.09, the company's performance reflects its robust position in the industry. The price change stands at 3.91, with a 29.8% price change percentage. The Relative Strength Index (RSI) sits at 0.144, indicating a neutral position. The market capitalization stands at 94.75 billion, with a share price of 193.37 and a price change percentage of -0.534. The stock exhibits a bearish trend, with a -0.087 trend change percentage.

More about Zhong Yang Financial Group Limited Ordinary Shares

Zhong Yang Financial Group Limited Ordinary Shares Technical Analysis Summary

Based on the latest data:

Support Level: 17.2

Resistance Level: 17.35

50-Day Moving Average: 0.334

200-Day Moving Average: 0.447

Relative Strength Index (RSI): 48.6

Volume: 11,687,300

Short-term Trend: Neutral

Outlook: Caution advised as the stock is approaching a resistance level.

More about Block Inc

Company: Block Inc,Square, Inc.

Business Area: Creates tools that allow merchants to accept card payments; they also provide reports and analysis, and next day settlement.

Headquarters: San Francisco, California.

Industry: Technology, Services-Prepackaged Software

Market Cap: 39805317000

Stock Price: 107.52

Dividend Yield: None

P/E Ratio: 0.6

EPS: 37.37

Volatility: 0.0168

Revenue: 22882619000

Net Income: 89.94

Debt/Equity: 3.625

Current Ratio: 0.194

Disclaimer

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