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Crypto

Bitcoin hits August high overnight as focus turns to U.S. CPI and PPI this week

Bitcoin rose to an August high near $65,420 ahead of the weekly close, shifting market attention to U.S. inflation data due this week. July CPI and PPI are scheduled for release on Aug. 12 and 13, after both came in below expectations last month. Analysts pointed to shifting expectations for a Fed rate hold in September. The article also highlights yen intervention, technical resistance near $65,800, mixed on-chain signals and weak spot market activity.

Crypto

Strategy sells another 1,690 bitcoin, uses proceeds to buy back STRC and boost dollar reserves

Strategy sold 1,690 bitcoin and used the $108.6 million proceeds to repurchase its STRC preferred shares, according to a filing. The company sold the bitcoin at an average net price of $64,262 per coin, below its average purchase price of $75,385 including fees and expenses. Strategy said its dollar reserves stood at $4.65 billion as of Aug. 9, up from about $4 billion a week earlier.

Crypto

Bitdeer nearly quintuples bitcoin mining output in second quarter

Bitdeer mined 2,694 bitcoin in the second quarter, nearly five times more than a year earlier. Mining output and revenue rose, but its bitcoin holdings at the end of the quarter fell to 150 BTC and its net loss widened. Revenue climbed 47 percent to $228.8 million, with $168.4 million from self-mining, while average self-mining hashrate jumped 389 percent to 69.5 exahash.