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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.
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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
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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
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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
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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
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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.
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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.
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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