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Top related persons:
Riot - 1 Jason Les - 1 Jose Fernandez da Ponte - 1 PayPal's - 1 Da Ponte - 1 Paxos - 1 it's - 1 Ponte - 1
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Search resuls for: "Mackenzie Sigalos Jordan Smith"


2 mentions found


☆ Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in August
  + stars: | 2023-09-06 | by ( Mackenzie Sigalos Jordan Smith | Mackenzie Sigalos | Jordan Smith | ) www.cnbc.com   time to read: +2 min
During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it's counting on energy credits from selling power back to the Texas grid to keep its costs under control. Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. "August was a landmark month for Riot in showcasing the benefits of our unique power strategy," said Jason Les, CEO of Riot, in the company's press release. It's a dramatic strategy shift for Riot, whose revenue soared almost 8,000% in 2021 from booming demand for bitcoin.
Persons: Riot, Jason Les Organizations: Riot, JPMorgan Chase Locations: Texas, U.S
☆ PayPal is trying to drag its 435 million users into the $120 billion stablecoin market — here's why
  + stars: | 2023-08-08 | by ( Mackenzie Sigalos Jordan Smith | Mackenzie Sigalos | Jordan Smith | ) www.cnbc.com   time to read: +14 min
Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.
Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools
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