NewsRoom Articles - Page 23 of 43

TuesdayNov 12, 2024 8:00 am

Post-Election Market Rally Makes Coinbase CEO at Least $2bn Richer

The wealth of Coinbase CEO Brian Armstrong surged by more than $2 billion following a record-breaking 31% increase in Coinbase Global Inc. (NASDAQ: COIN) shares on November 6, 2024. The market rally stemmed from a successful Election Day for candidates backing pro-crypto policies, making Armstrong the biggest beneficiary of the crypto industry’s growing political influence. The sharp rise in Coinbase’s stock came after victories for pro-crypto candidates, particularly in Ohio, where Republican Bernie Moreno triumphed over Democratic incumbent Sherrod Brown in the Senate race. Armstrong, who is the co-founder of Coinbase and has considerable investments in the company, saw the…

FridayNov 08, 2024 8:00 am

Alibaba Lays Off Dozens from its Metaverse Unit Amid Sector Slowdown

Alibaba Group has laid off dozens of employees from its metaverse division, Yuanjing, in light of a decline in the buzz about the metaverse. By restructuring the teams in the Shanghai and Hangzhou offices, the Chinese multinational technology company aims to enhance organizational efficiency. However, despite these cutbacks, the company reassures that its metaverse efforts will continue, focusing on metaverse tools and services for its customers. Founded in 2021 during a period of intense enthusiasm for the metaverse, Yuanjing had been part of Alibaba Group Holding Ltd. (NYSE: BABA)'s wider effort into virtual and augmented reality technologies. At its most…

ThursdayNov 07, 2024 9:00 am

Rumble Inc. Insiders Still Hold Majority Stake in the Firm, Recent Sales Notwithstanding

Rumble Inc. (NASDAQ: RUM) is firmly controlled by its insiders, with over half of its shares held by only a small group. Although some insiders have sold shares recently, they still hold a big portion of the company, so they’re set to profit if the stock goes up but also face risks if it drops. The concentrated ownership structure reveals how the video-sharing platform’s fortunes are strongly linked to its insiders' interests. The top four shareholders at the heart of Rumble’s ownership structure are holding a commanding 51% of the company. Rumble’s CEO Christopher Pavlovski leads the group, and personally…

TuesdayNov 05, 2024 8:00 am

CleanSpark Increases Efficiency with New Immersion-Cooled Canaan Bitcoin Miners

In a recent expansion that is intended to boost operational efficiency, CleanSpark Inc. has made a major purchase. The prominent bitcoin mining and energy technology company bought a new batch of 3,800 Avalon A1566I bitcoin miners from the Chinese tech manufacturer Canaan Inc. (NASDAQ: CAN). Beyond just benefiting CleanSpark by helping it grow its mining capacity, the collaboration marks a significant step in the firm’s mission to develop a more energy-efficient and sustainable mining fleet. Expected to arrive in the fourth quarter of 2024, these cutting-edge mining machines will run at 249 terahash per second (TH/s) without overclocking. The Avalon…

FridayNov 01, 2024 9:00 am

Riley Starts Covering Stardust Power

Riley Financial Inc. (NASDAQ: RILY) has issued a "Buy" rating on Stardust Power Inc. (NASDAQ: SDST), setting a promising price target of $12.00 per share. The diversified financial company recognizes great possibilities in Stardust’s strategies for building one of the largest lithium refineries in the U.S., located in Muskogee, Oklahoma. When fully operational, the refinery is expected to produce an impressive 50,000 metric tons of lithium annually. As final engineering and financing continue, the plant’s strong economic prospects and speedy development schedule have placed Stardust firmly within the lithium market. Stardust Power has decided to distinguish itself using direct lithium…

ThursdayOct 31, 2024 9:00 am

Riot Platforms is Positioned for Growth Despite Industry Volatility

Amidst the ups and downs of the cryptocurrency world, Riot Platforms Inc. (NASDAQ: RIOT) is quickly carving out a significant place for itself in Bitcoin mining. As the largest Bitcoin mining company in North America, Riot is making strategic moves to expand its operations, and many are hopeful for what lies ahead. Even though the crypto market is facing uncertainty, the mining company appears well-prepared for growth. A major factor in the company’s promising outlook, headquartered in Colorado, is its ambitious plan to significantly increase its hash rate capacity. Riot has set targets to achieve 36 EH/s (exahashes per second)…

MondayOct 28, 2024 9:00 am

Deployment of New Trucks Causes Nikola Shares to Climb

Nikola Corporation (NASDAQ: NKLA)'s stock rose 4.03% last week due to the deployment of hydrogen-powered trucks in Illinois. The surge stems from a key partnership between Nikola, Diageo, and DHL Supply Chain, signifying a noteworthy expansion beyond Nikola’s established presence on the West Coast. By targeting the Midwest, the company is trying to establish itself as a leader in sustainable, hydrogen-fueled transport across the United States. In this recent agreement, Nikola rolled out two hydrogen-powered trucks to support Diageo and DHL Supply Chain operations within Illinois. In addition to these trucks, Nikola has installed a modular refueling station on Diageo’s…

FridayOct 25, 2024 9:00 am

The NACS Plug from Tesla Could Be a Game Changer

Tesla’s NACS (North American Charging Standard) plug is set to shake up the electric vehicle (EV) world in the biggest way ever. The charging network is already making EV ownership simpler, and now, other car companies have decided to be part of this. The result? Charging an electric car could soon be as easy as pumping gas, and that’s a pretty sweet deal. The real magic of Tesla Inc. (NASDAQ: TSLA)’s charging network is in its size and convenience. Right now, Tesla operates the largest fast-charging network in the U.S with over 60.4% of the country’s public DC fast chargers…

WednesdayOct 23, 2024 9:00 am

Quantum Processing Units Could Redefine the Future of Computing

Quantum Processing Units (QPUs) are no longer sci-fi concepts but real game-changers in the world of computing. Unlike the classical processors we’ve relied on for decades, QPUs use quantum bits, or qubits, which have the ability to exist in multiple states at once. As a result, they can process information in ways classical computers never could, opening doors to solving problems that were once thought unsolvable. So, what’s behind QPUs’ power? It comes down to two key quantum properties: superposition and entanglement. Superposition allows qubits to represent both 0 and 1 simultaneously, while entanglement lets qubits influence each other, even…

MondayOct 21, 2024 9:00 am

Latest Update to Make Rivian EVs Rekindle Memories from Knight Rider

Rivian Automotive Inc. (NASDAQ: RIVN) has officially initiated a Halloween-themed update that’s bringing some nostalgic fun to its electric vehicles. As of October 18, Rivian owners can transform their cars into iconic rides from Knight Rider and Back to the Future, adding a unique twist to their driving experience. With the new software update, Rivian is offering "car costumes" for drivers to change their vehicle's display and, in some cases, its exterior lights to match the look and feel of these classic TV shows and movies. Additionally, the vehicle’s interior screen can mimic K.I.T.T.’s dashboard , a great plus for…

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