DIRS.INFO The most relevant business & tech news

☆ Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000
▼ + stars: | 2024-06-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

According to data from CryptoQuant, the flow of bitcoin leaving miners wallets for exchanges – which indicates a selling event – reached a two-month high last weekend. Additionally, miner selling through over-the-counter desks saw its biggest daily volume since late March. CryptoQuant shows the hourly transfer of bitcoin from miners to exchanges rose to more than 3,000 bitcoins on June 9. "Daily bitcoin miner revenues stand today at about $35 million, down 55% from their 2024 peak reached in March." That's mostly as a result of "depressed" transaction fees, however, rather than the slashing of miners' block reward at the halving.

Persons: –, Mike Colonnese, Wainwright, we're, Bitcoin, Julio Moreno, Moreno, Colonnese, Iris, Iren, They've Organizations: H.C, Iris Energy Locations: CryptoQuant

☆ Ether extends its rally following 20% surge on renewed ether ETF optimism
▼ + stars: | 2024-05-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose Tuesday amid a late surge in optimism around the U.S. Securities and Exchange Commission's decisions on spot ether exchange-traded funds applications, the first of which is due this week. Ether led the rally, rising 9% to $3,680.98, according to Coin Metrics. Investors are reconsidering the probability that the SEC greenlights spot ether ETF applications amid reports that the SEC has requested document updates from potential ETF issuers and exchanges. Final decisions on applications by VanEck and Ark Invest are due this Thursday and Friday, respectively. BlackRock, Fidelity, Invesco, Grayscale and Bitwise Asset Management also have applications awaiting decisions this year.

Persons: Cryptocurrencies, Ether, bitcoin, Robinhood, Bartosz Lipiński Organizations: U.S . Securities, Exchange, Metrics, Marathon, Energy, SEC, Cube Exchange, Fidelity, Management Locations: BlackRock

☆ Inflation data commands center stage next week and provides a test for the market rally
▼ + stars: | 2024-05-11 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.

Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City

☆ The Bitcoin network completes the fourth-ever ‘halving’ of rewards to miners
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

watch nowThe Bitcoin network on Friday evening completed its fourth "halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. Hash rates are a measure of the computational power used to process transactions on the bitcoin network. "The market so far has seen bitcoin mining stocks as mere BTC proxies, in absence of bitcoin ETFs," said Bernstein analyst Gautam Chhugani. "[The] Bitcoin halving is already partially priced in by the market and we do not expect prices to increase significantly following the halving event," the firm's Marion Laboure said in a note Thursday, adding that it "has been widely anticipated in advance due to the nature of the Bitcoin algorithm."

Persons: Reginald Smith, Bernstein, Gautam Chhugani, MARA, Nikolaos Panigirtzoglou, Marion Laboure Organizations: Metrics, JPMorgan, BTC, IRIS, Deutsche Bank Locations: Friday's

☆ JPMorgan likes these mining stocks to play the upcoming bitcoin halving
▼ + stars: | 2024-04-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

While most of the public cryptocurrency miners are positioned to survive the supply shock of the bitcoin halving, JPMorgan has named its top picks. "With the bitcoin halving on the horizon, we expect heightened volatility and trading volume in both bitcoin and mining stocks," Reginald Smith, an analyst at JPMorgan, said in a note this week. The bitcoin halving is estimated to take place in the next couple of days , and mining companies are preparing for reduced rewards revenue that will follow the event. Nevertheless, uncertainty ahead of the halving has pressured mining stocks, most of which are down double digits for the year. The halving occurs when incentives for bitcoin miners shrink to 3.125 newly created bitcoins — or about $20,000 at Thursday morning's prices — from 6.25, as mandated by the code of the bitcoin blockchain.

Persons: Reginald Smith, Smith, Iris, Iris Energy, MARA, CleanSpark, — CNBC's Michael Bloom Organizations: JPMorgan, Iris Energy, Iris

It was the third mishap in two weeks reported at Norway's main airport. Two of the three recent incidents at the airport "have occurred as a result of pushback from the same gate,” Oslo airport spokeswoman Monica Iren Fasting told the AP. A spokesperson for the carrier, Tonje Sund, told Norwegian newspaper VG that the plane received damage that grounded it. Photos You Should See View All 22 ImagesOn Feb. 2, a Norwegian airline plane bound for Stockholm collided with a fence at the same gate. On Tuesday, another Norwegian plane headed for Kristiansand hit another airplane, clipping its wing.

Persons: Monica Iren Fasting, Tonje Sund, Charlotte Holmbergh, “, Holmbergh Organizations: Scandinavian Airlines, Associated Press, AP, Norwegian, VG, Kristiansand Locations: COPENHAGEN, Denmark, Oslo, Norway's, Stockholm, Gardermoen, Norwegian

☆ Crypto stocks set to start December on high note as bitcoin hits near 19-month high
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Shares of bitcoin miners - whose profitability improves as bitcoin climbs - including Riot Platforms (RIOT.O), Marathon Digital (MARA.O) and TeraWulf (WULF.O) rose between 1.7% and 4%. "Higher crypto prices should lead to a boost in transaction volume and transaction revenues for Coinbase as we enter 2024," said CFRA Research analyst Michael Elliott. However, Elliott cautioned the crypto exchange faces both legal challenges and new regulations that are likely to take time to play out and will continue to result in volatility for the stock. The ETF approval bets have helped counter latest concerns after Changpeng Zhao, the founder of the world's largest crypto exchange, stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. Among other gainers were U.S. software developer and bitcoin investor Microstrategy (MSTR.O), up nearly 3.5%, and ProShares Bitcoin Strategy ETF (BITO.P), which added 2.1%.

Persons: Dado Ruvic, Noelle Acheson, J.P.Morgan, Iris, Michael Elliott, Elliott, Changpeng Zhao, Microstrategy, Medha Singh, Sriraj Kalluvila, Krishna Chandra Organizations: REUTERS, Cipher Mining, Iris Energy, Marathon, CFRA, Thomson Locations: bitcoin, Bengaluru

☆ Here are Wednesday's biggest analyst calls: Nvidia, Boeing, SoFi, Netflix, Apple, Cava, Walmart and more
▼ + stars: | 2023-10-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades Shoals to buy from neutral Goldman Sachs said the solar company is very attractive. Morgan Stanley upgrades Cava to overweight from neutral Morgan Stanley said it's gaining confidence in the restaurant chain. JPMorgan upgrades CSX to overweight from neutral JPMorgan said rail concerns have already played out. JPMorgan upgrades Iris Energy to overweight from neutral JPMorgan said the bitcoin mining company is "best-in-class." JPMorgan initiates CleanSpark as overweight JPMorgan said the bitcoin miner offers "relative value."

Persons: Goldman Sachs, Wells, Wells Fargo, TD Cowen, Cowen, Stephens, Raymond James, it's bullish, Morgan Stanley, Cava, it's, UBS downgrades Morgan Stanley, Oppenheimer, Needham, Robinhood, MAUs, Truist, Piper Sandler, JPMorgan, Mizuho, SoFi, SOFI, Leerink, Apple Organizations: Netflix, JPMorgan, CSX, Nvidia, Iris Energy, Energy, UBS, Boeing, Oppenheimer downgrades Texas, Texas, Qs, Logistics, Amazon, Arista Networks, Barclays, Ball Corporation, Apple, Walmart, Deutsche Bank, Cboe Locations: CAVA, OW, U.S, China, ANET, SoFi

☆ Italy's antitrust body tells utilities to stop changing contracts
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 28 (Reuters) - Italy's antitrust authority has ordered Spanish utility Iberdrola (IBE.MC) and Germany's E.ON (EONGn.DE) to reinstate the original electricity and gas contracts they had with customers, it said on Friday. The watchdog also asked Italian utilities Iren (IREE.MI) and Dolomiti to stop what it alleged to be "illegitimate notices" regarding changes to the economic conditions of their offers. The authority, which opened an inquiry into utilities last week, said that companies must report within five days on the steps they had taken to comply with the precautionary measures. The watchdog last week accused Iren and Dolomiti of making unlawful unilateral changes in the electricity supply price. A spokesperson for E.ON reiterated it was cooperating with the Italian authorities, adding it believed to have acted legitimately and in compliance with current regulations.

☆ Italy's Antitrust probes Iren, Iberdrola, E.On over customer contracts
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - Italy's competition watchdog has opened inquiries into Italian utility Iren (IREE.MI), Spain's Iberdrola (IBE.MC) and German's E.ON (EONGn.DE) over alleged electricity and gas contract issues with their customers, it said on Wednesday. The authority accused Iren and fellow Italian utility Dolomiti of allegedly making unlawful unilateral changes in the electricity supply price, it said in its statement. Iren said in response that its actions were in line with rules and it was committed to protecting its customers struggling with rising energy prices. There was no immediate comment from Iberdrola or E.ON. Register now for FREE unlimited access to Reuters.com RegisterReporting by Cristina Carlevaro, editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Iren"

10 mentions found