Elon Musks X suspends data collection for AI training, EU watchdog says
After proceedings in an Irish court, the local Data Protection Commission said X agreed to suspend processing the personal data of EU users to train its AI system.
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After proceedings in an Irish court, the local Data Protection Commission said X agreed to suspend processing the personal data of EU users to train its AI system.
The analytical platform Crypto Rank offered a detailed description of Bitcoin and current state of the crypto market. The platform noted that the Bitcoin price has gone below the mark of $61,000, which showed bearish sentiment in the cryptocurrency market. Platform findings indicate that, presently, Bitcoin trades below $61,000.The top ten cryptocurrencies are in the […]
Malaysia aims to tackle national challenges and unlock economic opportunities by adopting cutting-edge biometric verification technology.
Bitcoin miner IREN (formerly known as Iris Energy) is the latest crypto mining company looking to profit from the artificial intelligence market boom, according to its July 23 Analyst & Investor Day presentation. The planned presentation shows that the firm will launch a GPU pilot at its Childress site in Prince George. This follows the […]
The post Bitcoin miner IREN ventures into AI with GPU pilot and Morgan Stanley’s guidance appeared first on CryptoSlate.
Binance has revealed its plans to support the upcoming network upgrade of IRISnet (IRIS). (Read More)
Worldcoin Foundation open sources a secure multi-party computation (SMPC) system to enhance biometric data protection and confirmed that users can now securely delete old iris codes.
Conor McGregor, former UFC champion, promotes establishment of Irish Bitcoin reserve Retired UFC superstar Conor McGregor recently voiced his support for the creation of an Irish Bitcoin reserve. The move comes amidst growing interest in digital currencies and their potential impact on the global economy. McGregor, known for his flashy style both in and out [...]
The French oversight agency, National Commission on Informatics and Liberty (CNIL), has raised doubts about the legality of Worldcoin’s biometric data collection methods. Besides questioning the legitimacy of its data acquisition processes, CNIL is also delving into how this biometric data is stored. Notably, Worldcoin has collected this data for over two million registrants who [...]
The post Report: French Privacy Regulator Probes Worldcoin’s Biometric Data Practices appeared first on Crypto Breaking News.
The Information Commissioner's Office (ICO) announced on July 25, 2023, that it plans to initiate an investigation into Worldcoin, a project overseen by OpenAI CEO Sam Altman. The investigation is set to commence shortly after the announcement. ICO is the data regulator in the United Kingdom. (Read More)
Out of 40,700 $BTC mined by public miners from January 1 to November 30 this year, 40,300 $BTC were sold, Messari's Tom Dunleavy revealed.
The post Bitcoin Miners Roughly Sold Everything They Mined in 2022 appeared first on BitPinas.
<p> Iris Energy, an Australian-based cryptocurrency firm publicly listed on Wall Street (<a href="https://www.financemagnates.com/tag/iris-energy/" target="_blank">NASDAQ:IREN</a>), has switched off a part of its mining hardware used as collateral in a $107.8 million loan. According to the <a href="https://www.sec.gov/Archives/edgar/data/1878848/000114036122042419/ny20005141x6_6k.htm">newest</a> regulatory filing at the US <a href="https://www.financemagnates.com/terms/s/securities-and-exchange-commission-sec/" target="_blank" id="3718b4df-fc5f-479a-861e-f52759439c15_1" class="terms__main-term">Securities and Exchange Commission (SEC</a>) from 21 November 2022, the company's electricity costs increased by 312% over one year.</p><p class="MsoNormal">The secured miners owned by Non-Recourse SPV 2 and Non-Recourse SPV 3 produced insufficient cash flow. Their operations generated around $2 million in crypto profit monthly, which is significantly below the debt obligation of $7 million.</p><p class="MsoNormal">Iris Energy was forced to reduce its hash power to 3.6 exahashes per second (EH/s). However, the company intends to increase its mining potential. It wants to benefit from $75 million in prepayments made to Bitmain, a mining rigs manufacturer, as part of its contracted 7.5 EH/s machines for independent mining.</p><p class="MsoNormal">Moreover, the company announced some preliminary financial results for the third quarter of 2022. Operating revenues reached $16.2 million, which is a significant increase from $10.4 million reported in the previous quarter. However, as mentioned at the beginning, the company had to cover a substantial increase in electricity costs to $6.6 million from $.16 million reported in the same period last year.</p><p class="MsoNormal">A Growing List of Miners' Problems</p><p class="MsoNormal">The Aussie cryptocurrency mining company is not the only firm whose operations have recently been hovering on a thin profitability line. The prolonged 'cryptocurrency winter', a situation where major assets move in a sideways trend at multi-month lows for an extended period, visibly cut potential profit.</p><p class="MsoNormal"><a href="https://www.financemagnates.com/terms/b/bitcoin/" target="_blank" id="261088a9-0f41-4202-a73c-31f75ba6bd93_1" class="terms__secondary-term">Bitcoin</a> has now lost 80% since its historic highs in 2021 when it cost nearly $70,000. Revenues and valuations of publicly traded mining companies on Wall Street are falling accordingly. </p><p class="MsoNormal">Iris Energy's shares have slipped 90% this year alone, and its rival <a href="https://www.financemagnates.com/cryptocurrency/canaan-feels-the-bitcoin-blues-net-income-down-90/">Canaan</a> has lost 50%. The company reported its third-quarter figures in the first half of November, showing a 90% drop in net income.</p><p class="MsoNormal">On top of that, <a href="https://www.financemagnates.com/cryptocurrency/hive-revenues-down-45-in-q3-despite-higher-btc-production/">HIVE Blockchain Technologies Ltd.</a> and <a href="https://www.financemagnates.com/cryptocurrency/hut-8-loss-deepens-despiite-higher-mining-rate/">Hut 8 Mining Corp.</a> felt the 'Bitcoin blues' and reported a sharp decline in revenues despite increasing hash power and a total number of mined cryptos.</p><p class="MsoNormal">The daily profit of BTC miners is now $13 million, which is the lowest in more than two years. Bitcoin currently costs less than $17,000, and until it moves back higher, the condition of the mining industry will certainly not improve. </p> This article was written by Damian Chmiel at www.financemagnates.com.
Iris Energy reduced mining power by 3.6 EH/s. On Nov. 21, it disconnected equipment used as collateral for a $107.8 million loan. The corporation just got a $103 million default notice. High hash rates, high energy costs, and poor pricing threaten Bitcoin miners. (Read More)
Bitcoin mining company Iris Energy has agreed on a deal to sell up to $100 million in shares to investment bank B. Riley, as the company contemplates mergers and acquisitions following a recent capital increase (Read More)
The issuance of new shares is meant to help Iris Energy strengthen its capital base to support its Bitcoin mining operations amid the market downturn. (Read More)
Daniel Roberts, Iris Energy co-founder, said the firm had energized the facility on time “despite the current market backdrop and ongoing international supply chain challenges.”
Iris Energy raised $71 million in debt issuance for new Bitcoin mining equipment. (Read More)
IRIS, SCRT and AKT are among the Cosmos ecosystem assets that turned bullish in anticipation of Ethereum interoperability via Evmos.
IRISnet price is up over 60% today, setting it as the biggest gainer on Crypto.com. With a market cap of $200 million and a trading volume of $101 million, IRIS continues to see incredible price gains. Let’s take a look at what IRISnet is exactly and why IRIS price is rising so much. What Is […]
The post IRISnet price up 60% After Binance Announces Network Upgrade Support appeared first on NullTX.
Seven of Australia's 87 richest entrepreneurs aged 40 and under are crypto founders, according to the Australian Financial Review.
Australian Bitcoin miner Iris Energy applies for IPO on the Nasdaq. The stock code is "IREN". Reportedly, $100 million has been raised. (Read More)
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