Empery Invests M in Cardinal Data Power, Expands AI Pivot

Empery Digital said it invested $20 million in Cardinal Data Power, acquiring an approximately 8% stake in the private developer of powered data center campuses.The investment was part of Cardinal Data Power’s approximately $70 million Series A financing and will support development of a 750-megawatt data center campus in West…

BitMEX Token Plunges After Exchange Shutdown

[Update, 15:18 UTC, July 23 – Adds comment from cofounder beginning in sixth paragraph.]BitMEX’s utility token lost almost all of its value after the exchange announced Thursday it would wind down operations.The BitMEX (BMEX) token plunged 90% to as low as $0.002 from $0.06, according to CoinGecko data. It traded at $0.0063 at the time of writing.The token, which had traded near $0.06 in recent weeks, began falling at around 7:00 am UTC, roughly an…

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Bernstein Says Bitcoin Mining Deals are Necessary for AI Power Crunch

Bernstein said that it remains overweight on the Bitcoin mining sector, citing the growing partnerships between Bitcoin mining companies that are necessary to address the power constraints of artificial intelligence (AI) data centers.The investment manager’s Bitcoin mining industry deal tracker registered a new AI-related deal every week in July, with…

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