{"id":83461,"date":"2023-11-11T18:15:06","date_gmt":"2023-11-11T23:15:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/mining-btc-for-free-in-q3-bitdeer-becomes-preferred-cloud-service-provider-in-nvidia-partner-network-gucci-in-the-sandbox\/"},"modified":"2023-11-11T18:15:11","modified_gmt":"2023-11-11T23:15:11","slug":"mining-btc-for-free-in-q3-bitdeer-becomes-preferred-cloud-service-provider-in-nvidia-partner-network-gucci-in-the-sandbox","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=83461","title":{"rendered":"Mining BTC For Free in Q3, Bitdeer Becomes Preferred Cloud Service Provider in NVIDIA Partner Network, Gucci in The Sandbox"},"content":{"rendered":"<div>\n<figure id=\"attachment_129750\" aria-describedby=\"caption-attachment-129750\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-129750\" class=\"wp-caption-text\">Source: AdobeStock \/ Tim<\/figcaption><\/figure>\n<p><em>Get your daily, bite-sized digest of crypto and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s news.<\/em><br \/>__________<\/p>\n<ul>\n<li>A public mining company mined bitcoin for free in Q3, according\u00a0to the latest Miner Weekly report by\u00a0<strong>BlocksBridge Consulting<\/strong>. It said that <strong>Riot Platforms<\/strong> reported a negative $6.1k cost for mining bitcoin (BTC) due to the power curtailment credits it received in Texas, USA. Riot\u2019s cost of bitcoin mining revenue totaled $24.4 million over the last quarter, the majority of which were power bills. From July to September, it mined 1,102 BTC, resulting in a cost of production of $22,177 per BTC. But Riot participated in Texas\u2019 demand response and ancillary service program and turned off a large portion of its proprietary hashrate to help strengthen the grid \u2013 receiving nearly $50 million in power curtailment credits that can be allocated to offset the power bills in its bitcoin mining and hosting segments. Because the amount of credits allocated to the bitcoin mining segment was $31.2 million, the cost of bitcoin mining revenue was hence reduced to -$6.8 million on its book. The report said that the negative cost of production does not seem to suggest Riot received additional cash benefits on top of the bitcoin mined, but that the company mined the bitcoin for free and still had remaining credits. \u201cIt is unclear, though, how the remaining credits could be extended to the next quarter \u2014 if at all,\u201d it added.<\/li>\n<li>North American mining company <strong>US Bitcoin Corp<\/strong> (USBTC) announced the progression of its merger with <strong>Hut 8 Mining Corp<\/strong> (Hut 8). According to the press release, USBTC is moving forward with its all-stock merger with Hut 8 after the <strong>US Securities and Exchange Commission<\/strong> (SEC) declared the registration statement related to the merger effective on November 9. The merger is expected to close by November 30, 2023, after which the common stock of the combined company, <strong>Hut 8 Corp.<\/strong> (New Hut), is expected to be listed on the <strong>Nasdaq<\/strong> and the <strong>Toronto Stock Exchange<\/strong> under the proposed ticker symbol HUT.<\/li>\n<\/ul>\n<ul>\n<li>Bitcoin mining company <strong>Bitdeer<\/strong> announced that it has become a preferred cloud service provider (CSP) in the <strong>NVIDIA Partner Network<\/strong> and plans to launch <strong>Bitdeer AI Cloud<\/strong>, among the first cloud services powered by NVIDIA DGX SuperPOD with DGX H100 systems in the Asia region. According to the press release, the service will provide Bitdeer\u2019s customers with access to NVIDIA AI supercomputing to help them accelerate their development of generative artificial intelligence (AI), large language models (LLMs), and other AI workloads. Bitdeer\u2019s GPU cloud service builds on the company\u2019s extensive customer reach in Asia, it said and added: \u201cPaired with its domain expertise in hash rate-sharing and cloud services, the service can equip businesses and entrepreneurs with state-of-the-art computing using the NVIDIA DGX platform.\u201d<\/li>\n<\/ul>\n<ul>\n<li><strong>The Sandbox<\/strong>, a decentralized gaming virtual world and a subsidiary of <strong>Animoca Brands<\/strong>, <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/gucci\/status\/1722256432392032752\">announced<\/a> <strong>Gucci Cosmos Land<\/strong>, a digital extension of the current London exhibition designed by Es Devlin with a special curation of iconic designs from the Gucci Archive by Maria Luisa Frisa. Set in a Web3 London reinvented for Gucci, the exhibition is a\u00a0journey through Gucci\u2019s past, present, and future. Each section traces a different aspect of Gucci, the announcement said. Gucci Cosmos Land\u00a0is described as \u201can immersive journey that spirals through decades of creativity and lets users explore the House\u2019s history through its iconic designs and key themes.\u201d<\/li>\n<\/ul>\n<ul>\n<li>Layer 1 public blockchain <strong>Vechain<\/strong> launched a new Learn 2 Earn program designed exclusively for crypto exchange <strong>Coinbase<\/strong> users. Per the announcement, the Learn Campaign is multi-pronged, comprising simple and advanced tasks. Simple Learn consists of two educational quizzes, each of which rewards users with $1 in VET for a correct answer. Advanced Learn requires users to download and interact with <strong>VeWorld<\/strong>, after which they explore applications in the vechain ecosystem. They can earn $10 for completion of this program. Users can participate in either program or both, earning up to $12 in VET rewards. The new program follows the listing of vechain\u2019s native tokens VET and VTHO on Coinbase earlier this year.<\/li>\n<\/ul>\n<ul>\n<li><strong>Moflix Group<\/strong>, a telecommunications company providing digital solutions, raised a $3.1 million seed funding round with the participation from <strong>The Hashgraph Association<\/strong> (THA), the Swiss-based non-profit organization accelerating the adoption of the <strong>Hedera<\/strong> network, alongside other strategic investors. Per the press release, THA\u2019s funding and engineering expertise will help Moflix refine and extend its Web3 offering to telecom companies. Its <strong>TelcoTech<\/strong> platform combines digital connectivity propositions with a wide range of digital tech capabilities, it said. The company aims to pave the way for the next generation of digital services with features for telcos that include management of Web3 assets through a digital wallet and trusted digital identity credentials. \u201cTHA\u2019s financial commitment and engineering expertise will enable Moflix to explore ways of incorporating Hedera\u2019s technology into its offering, empowering telcos to offer infrastructure, platforms, applications, and user experiences for a Web3-enabled world,\u201d according to the press release.<\/li>\n<\/ul>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/today-in-crypto-mining-btc-for-free-bitdeer-is-preferred-csp-in-nvidia-partner-network-gucci-in-the-sandbox.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: AdobeStock \/ Tim Get your daily, bite-sized digest of crypto and blockchain-related news \u2013 investigating the stories flying under the radar of today\u2019s news.__________ A public mining company mined bitcoin for free in Q3, according\u00a0to the latest Miner Weekly report by\u00a0BlocksBridge Consulting. It said that Riot Platforms reported a negative $6.1k cost for mining [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":83462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-83461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mining BTC For Free in Q3, Bitdeer Becomes Preferred Cloud Service Provider in NVIDIA Partner Network, Gucci in The Sandbox | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: AdobeStock \/ Tim Get your daily, bite-sized digest of crypto and blockchain-related news \u2013 investigating the stories flying under the radar of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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