Bitcoin Surges Past $60K, Hut 8 Mining, Magic Eden and Yuga Labs.

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1. Bitcoin Surges Past $60K for the First Time in Over 2 Years

Bitcoin has surged past $60,000 for the first time in over two years, driven by market anticipation surrounding the upcoming halving event. The cryptocurrency is up over 13% on the weekly chart and 37% over the past month. Investors are expecting a reduction in supply to drive up prices, leading to a "pre-halving rally" and a new bullish sentiment. However, some analysts suggest a "pre-halving retracement" could still occur, as historical data indicates that Bitcoin's major movements tend to occur after previous halvings, not before.

2. Hut 8 Begins Construction on 63MW Crypto Mining Facility in Texas

Hut 8, a North American digital asset miner, has started constructing a new 63-megawatt mining facility in Culberson County, Texas. The facility, expected to be operational by Q2 2024, aims to mine Bitcoin at 30% lower rates than its other sites in Texas and Nebraska. Hut 8 CEO Asher Genoot highlighted the cost savings in setting up the new facility, which is expected to be less than $275,000 per MW, compared to the benchmark of $460,000 per MW for recent acquisitions in the area. Hut 8's expansion efforts come after a merger with US Bitcoin Corp., forming a new company and relocating its headquarters to Miami, Florida. However, the company faces challenges, including accusations of a "pump and dump" scheme and a class-action lawsuit alleging false statements and overstatement of profitability.

3. Magic Eden and Yuga Labs Launch Ethereum Marketplace with Creator Royalties Focus

Magic Eden, in collaboration with Yuga Labs, has launched an Ethereum marketplace that prioritizes creator royalties. The platform also introduced the Creator's Alliance, aiming to standardize creator royalties enforcement. Yuga Labs has temporarily reduced collection royalties to celebrate the launch. Additionally, a commemorative NFT, designed by Cool Cats artist Clon, will be issued to celebrate the partnership.

1. BTC hits $57k in short squeeze, many alts hitting ATH

2. MicroStrategy acquires another $155m BTC

3. Coinbase still only 388 on App Store ranking

4. Crypto hits ‘Extreme Greed’ level of 79

5. PEPE up 95% in 7d, highs for 9 months

6. Milady & Remillio up 50% on huge sweeps

7. Hot NFTs: Milady, Wassies, Remillio

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