Greenidge Generation Deploys 8,400 Rigs with Capacity of ~ 1.0 EH/s 7314

Greenidge Generation Holdings Inc. (“Greenidge” or the “Company”), a vertically integrated cryptocurrency data center and power generation company, today announced it has entered into an agreement with Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “Core”) in which Core will host and operate Greenidge-owned bitcoin miners at its facilities in Dalton, GA and Calvert City, KY. Greenidge also announced the installation of an additional 1,500 company-owned miners at the Company’s existing facilities across the country. Together, this successfully completes the deployment of 9,150 Greenidge miners.

“The agreement with Core Scientific completes this phase in our strategy to deploy 9,150 miners Greenidge owns, and we believe this agreement will significantly improve our profitability as we move forward,” said Dave Anderson, Chief Executive Officer of Greenidge. “We are very pleased to deploy these miners at Core’s facilities, which have favorable power costs and a track record of excellent operational performance.”

“In addition, our team has shown tremendous creativity in constructing new miner slots at our facilities across the country, allowing us to capitalize on low natural gas prices in the U.S. and a beneficial cost structure. At current bitcoin economics, the combination of these two initiatives and our previously announced agreement with Conifex Timber Inc. represents approximately $7.5 million of incremental annual profit and significantly improves our ability to generate cash.”

“Greenidge is a proven operator in this industry, and we’re excited to partner with them and host their miners,” said Matt Minnis, Co-Founder of Core Scientific. “We believe this is a win-win for Core and Greenidge.”

Hosting Agreement

  • One-year agreement between Greenidge and Core Scientific to host miners owned by Greenidge.
  • Includes a proceed-sharing component to recognize the contribution of miners by Greenidge and the infrastructure and operating expertise provided by Core Scientific.

About Greenidge Generation Holdings Inc.

Greenidge Generation Holdings Inc. is a vertically integrated cryptocurrency data center and power generation company.

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Telos Secures $1M in Funding From Presto Labs to Develop SNARKtor-Powered L2 and SNARKtor Labs 8485

Telos today announced it has accepted a strategic investment of $1 million USD from Presto Labs, a leading Asia-based venture capital firm and liquidity provider with an established track record in algorithmic trading. The capital raise signals the start of a long-term partnership between the two organizations, with the funds being allocated to the development of the new SNARKtor-powered Ethereum Layer 2 zkEVM network being developed by Telos. The capital will also help incubate the growth of SNARKtor Labs, Telos’ Hong Kong-based business unit focused on the acceleration of Telos’ ZK-proving technology infrastructure. The SNARKtor Labs corporate mandate stipulates that its interests must be fully aligned with that of the TLOS token in so far as it drives value to the token, directly or indirectly. Any profits the entity earns will be used to buy and hold TLOS on its balance sheet.

Telos and Presto Labs’ teams will work together with a special focus on the Asia Pacific region, which has become a hub for Web3 innovation and investment. Executive Director John Lilic unveiled plans for Telos’ new zkEVM L2 during his recent keynote speech at TOKEN2049 in Dubai, where Telos was one of the event’s title sponsors. Presto’s investment will help expedite the completion of the L2, which Telos is co-developing with leading ZK research firm, Ponos Technology.

“Presto Labs is one of the best in the world at what they do and partnering with them is going to be of great benefit to the Telos team and community. We are very fortunate and grateful for the opportunity,” said Lilic on the new alliance. “Our organization looks forward to deploying this new capital efficiently to enhance the growth of our new network, and to bolster the impact that SNARKtor Labs can have as we work to educate the world on the effectiveness that ZK technology can have at scale.”

Presto Labs was founded in Singapore in 2014 and has since provided funding for many leading pioneers in the blockchain development space. The Presto team views Telos’ recent innovations in the ZK-proving space, starting with SNARKtor, to be a leading indicator of the powerful role the project can play in the years to come when it comes to this nascent technology.

“We always take a data-driven and technology-focused approach, and we were extremely impressed with what Telos is building and wanted to be a part of it,” said Presto Labs co-founder Yongjin Kim. “This is the start of a long-term partnership between our two teams that can play a significant role in the mainstream adoption of blockchain through technology that has practical global use cases like the new network Telos is building.”

Telos launched in 2018 through a fair drop network launch that did not include a token sale or ICO. Since its inception, the Telos Foundation has helped oversee two primary networks, Telos EVM and Telos Zero, and is now also focused on working with partners like Presto Labs to develop a highly performant and succinctly provable SNARKtor-powered L2 zkEVM. Telos and Presto Labs’ new partnership will also include additional initiatives largely concentrated in Asia, where a significant portion of the two entities’ work will be based out of.

About Telos

Telos is a decentralized blockchain ecosystem launched in 2018 without any ICO or VC funding that includes Telos EVM, the world’s fastest EVM, and Telos Zero, a high-speed native consensus layer. An upcoming hardware-accelerated zkEVM Layer 2 on Ethereum is also in development and will be powered by SNARKtor, a scalable and robust protocol for decentralized recursive proof aggregation that aims to enhance data protection and scalability for global use cases. Telos’ core mission of bringing self sovereignty worldwide is overseen by The Telos Foundation, an ownerless foundation dedicated to advancing the Telos blockchain network and its community.

About Presto Labs

Presto is a Singapore-based algorithmic trading and financial services firm founded in 2014. Presto focuses on delivering exceptional value for clients through a rigorous research-driven approach to investment and trade execution. With more than a 100 million trade executions in a day, Presto is a leading financial services firm in both digital assets and traditional finance markets.

Secure, Compliant but Flexible: FinchTrade Elevates Crypto Custody Offering with Fireblocks 8817

FinchTrade, a Swiss liquidity provider in the cryptocurrency sector, is proud to announce its integration with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. This strategic collaboration is set to enhance FinchTrade’s service offering, aligning with industry regulations and expanding its capabilities in asset custody.

The collaboration with Fireblocks introduces several key enhancements to FinchTrade’s operational framework:

  1. Regulatory Compliance: Fireblocks’ institutional-grade technology enables FinchTrade to generate unique blockchain addresses for each client, a critical feature for Travel Rule compliance, which mandates the collection and sharing of transactional information for AML purposes.
  2. Direct Custody Advantage: Fireblocks delivers a specific implementation of self-custody, providing a zero counterparty risk environment with multiple layers of security, meaning funds are never stored in an omnibus account or commingled with any other client funds, therefore eliminating the risks associated with traditional financial custodians. This approach elevates the security of client assets under FinchTrade’s management.
  3. Expanded Product Offerings: With Fireblocks, FinchTrade now offers individual client wallets, expanding its services to include crypto asset custody. This enhancement allows clients to store assets, execute conversions between cryptocurrencies and fiat, and make payments — all from within their FinchTrade account, without the need for external third-party services.
  4. Network Integration: By joining the Fireblocks Network, FinchTrade gains direct connectivity to a global network of over 1,800 trusted financial institutions, liquidity partners, trading venues and counterparties for secure transfers and payments.

“Collaborating with Fireblocks is a game-changer. It fortifies our commitment to IT security and enables offering a diversified service portfolio,” said Yuri Berg, Board Member of FinchTrade.

“We’re pleased to be working with FinchTrade to offer greater connectivity and security for their trading platform tailored to their clients’ needs. This collaboration highlights our mutual dedication to industry-leading security and operational efficiency, and we look forward to our continued efforts to advance the digital assets space together,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks.

The integration with Fireblocks positions FinchTrade at the forefront of digital asset security and compliance, ensuring that the company remains a trusted partner in the evolving world of cryptocurrency trading.

About FinchTrade:

FinchTrade is a Swiss-based liquidity provider specialising in cryptocurrency trading solutions. With a commitment to security, compliance, and innovation, FinchTrade offers seamless liquidity services to a global clientele.

STYLE Protocol Building to Empower Gamers Closes $2.5M Seed and Lists Token on Major Exchanges 8905

STYLE Protocol, which transforms NFTs into 3D assets that can be used in any game or metaverse, has listed its native utility token on major exchanges.

The cutting-edge digital asset — $STYLE — made its debut on Bitget and MEXC, and is also available on the decentralized exchange Uniswap.

Holding this token unlocks access to the protocol’s exclusive products, and makes in-game assets including objects and weapons truly interoperable in other titles.

Imagine collecting a rare skin in Sandbox, and being able to use it in any other virtual environment. Imagine being able to transform your favorite NFT into a living, breathing character. Imagine being able to type in a prompt for an avatar you want to create, with AI designing it for you in seconds. We’re making all of this possible on our world-leading platform — and the $STYLE token means you can get involved.

STYLE Protocol’s meticulously designed infrastructure means non-fungible tokens can become truly multi-world assets that are bridged across blockchains. Other powerful applications are available, including the ability to multiply blue-chip collectibles across virtual worlds. For example, this could allow a Bored Ape owner to rent their NFT out as an in-game avatar — and unlock brand-new revenue streams in the process.

The listing of $STYLE is only the beginning, with even more exhilarating features set to be added to the protocol in the not-too-distant future. Key objectives include rolling out compatibility for further games and Web3 environments, and continuing to tear down the silos that exist between operating systems and games.

All of this comes hot on the heels of STYLE Protocol raising $2.5 million in seed funding to further its mission. An all-star cast of prominent investors took part — including Morningstar Ventures, Dutch Crypto Investors, GBV Capital, Protocol Labs and Alpha Ventures — a powerful illustration of the potential and excitement surrounding this new ecosystem.

Making VR adoption a reality

STYLE Protocol is ready to level up the world of gaming like never before, and allow players to achieve the impossible.

The platform builds on Polkadot, which creates a “blockchain of blockchains” that champions interoperability — just like STYLE Protocol. Being based on this network means the project can capture interest across a plethora of EVM-compatible chains — Ethereum, Binance Smart Chain, Polygon and Avalanche among them. And as Web3 continues to go from strength to strength, $STYLE is the only token in town that delivers the future of GameFi: a unified world where digital assets are no longer fragmented.

Avid gamers have already been transporting their Azukis into GTA V for heart-pumping stunt races and strategic heists — breathing new life into the game. And STYLE Protocol believes that its technology will spark renewed interest in beloved titles by providing a degree of personalization that wasn’t possible before.

STYLE Protocol founder Leo Hilse said: “When it comes to virtual reality and the metaverse, we’re so early. Expensive VR headsets are only available to a few right now, but they’re on the cusp of becoming mainstream. STYLE Protocol is tackling a key barrier to adoption before it becomes an issue: making sure that any in-game item or NFT can travel between virtual worlds, just like a player sitting in their living room would. It takes hours of skill or a significant amount of cash for a gamer to earn rare items, and we want to ensure they get value for money by being able to take it with them wherever they go.”

About STYLE Protocol

STYLE aims to help gamers transcend identity across the multiverse — meaning NFTs and other virtual assets can be used in any game, anywhere. The protocol’s focus on interoperability is designed to enhance adoption, tear down barriers to entry, and deliver a world-class experience for players. Follow STYLE Protocol on X, Discord, Telegram and LinkedIn, or visit the website: https://www.protocol.style/

The gaming ecosystem giant E-PAL declares official entry in the Web3 gaming world 9037

E-PAL, the top gaming ecosystem platform in the world, has officially announced its entry into Web3 gaming. Headquartered in LA, California, E-PAL is the leading social network where gamers pay for skills and interest-related matching with skilled E-Pals.

With the aim to transform the Web3 gaming framework, E-PAL brings numerous innovations, such as an all-inclusive gaming ecosystem podium and a gaming chain. Being one of the most innovative gaming platforms, E-PAL will combine the customized AI gaming elements, which offers a smarter and more convenient gaming experience to the users.

Founded in 2020, E-PAL has experienced significant growth in the gaming industry with five million users downloading the E-PAL app. Such a huge number of downloads reflects E-PAL’s increasing user base, growing market penetration and widening reach among gamers. It has turned out to be the world’s foremost game companion platform in only four years, winning more than 2.4 million users, 300,000 companions and associating with 200 leading games.

Plus, E-PAL’s search for capable partners in the marketplace reflects its smart moves to widen its operational base and strongly boost its market share. The gaming platform’s aim to build partnerships is a proactive step to grow its business and presence in the Web3 gaming marketplace.

E-PAL has acquired two funding rounds led by Galaxy and A16Z with extra investors, including the director of League of Legends and the founders of Riot Games and YouTube. As per the latest reports, E-PAL will introduce the gaming platform Balance.game in May 2024, along with their entrance in the Web3 gaming world and releasing their platform’s 1.0 version, starting the new age of Web3 gaming.

Twitter: https://twitter.com/Balance_Games

Yuga Labs Partners With Somnia to Increase Metaverse Interoperability and Incentives 10611

Somnia, a high performance L1 blockchain and set of omni-chain protocols designed to scale the metaverse, partners with Yuga Labs, the creators of iconic Web3 projects like Bored Ape Yacht Club (BAYC) and the Otherside.

Somnia’s blockchain is optimized for gaming and the metaverse, with the potential to handle hundreds of millions of transactions per second, and its omni-chain protocols are designed to connect the metaverse, NFTs, and gaming ecosystems.

Yuga Labs is a media company best known as the creator of the Bored Ape Yacht Club NFTs and the owner of CryptoPunks. Yuga Labs was founded in 2021, when the Bored Ape Yacht Club was launched. Across all of its collections, Yuga Labs has generated roughly $19 billion in volume, accounting for a large portion of the NFT market.

With this partnership, The Somnia Protocol will unlock a new world of possibilities in Yuga Labs’ Otherside, bringing interoperability and new utility to their collections. Holders of Yuga collections will be able to join metaversal events with their avatars, show off their NFT collections and earn bonus points in Somnia quests.

Holders of select Yuga Labs NFTs will also get a bonus on points earned in Somnia’s upcoming Metaverse Browser quests, with other features and benefits to be announced.

The Metaverse Browser is designed to be a consumer front end to the metaverse. It will serve as a decentralized Steam or Epic Game Store. It lets users interact with metaverses and apps on the Somnia’s Ecosystem, without needing to know anything about web3. It’s designed to be open to allow anyone to deploy apps and content with it.

“Our collaboration with Yuga Labs is all about enhancing the NFT ecosystem, offering their holders not just utility, but a gateway to immersive, interactive experiences that push the boundaries of what NFTs can do” Somnia founder Paul Thomas said.

Yuga holders will be able to use their avatar in any world or experience that is built on Somnia. Their identities and digital assets will also be compatible across a wide range of experiences. They’ll be able to attend massive events, like the Twice listening party and MLB Virtual Ballpark that were hosted by MSquared.

About Somnia:

Somnia is creating a virtual society with an L1 blockchain and a set of omnichain protocols designed to bring millions of users into an open and unified metaverse, allowing users to move seamlessly across experiences. Somnia opens up endless possibilities for builders to create content that is portable and remixable content by upgrading existing NFTs.

For more information, please visit Somnia.Network

Polkadot-native Acala expands to multichain horizons through the Sinai Upgrade 10648

Acala, a foundational platform within the Polkadot ecosystem, unveils the Sinai Upgrade, a significant advancement in its Acala 2.0 initiative aimed at broadening the horizons of the overall crypto financial landscape. This upgrade is set to enhance the platform’s multichain capabilities, setting a new standard for decentralized finance (DeFi) not only on Polkadot, but across any layer 1, 2 or 3 blockchain network.

Multichain integration and enhanced DeFi accessibility

The cornerstone of the Sinai Upgrade is its focus on multichain integration, which facilitates seamless interactions across diverse blockchain environments. Acala dramatically simplifies the user multichain experience through the introduction of their advanced one-click multi-chain cross-stack DeFi feature. This feature leverages pioneering technologies, including XCM (Cross-Consensus Messaging) and Wormhole, to enable straightforward, efficient cross-chain transactions. Users will be able to easily engage in activities like staking, liquidity provisioning, and lending across major blockchain platforms such as Polkadot, Ethereum, Solana, and any select blockchain networks.

Empowering communities through open governance

Further enhancing its ecosystem, Acala introduces the open governance upgrade, empowering its community with direct involvement in governance decisions. This democratizes the process of ecosystem evolution, allowing users to influence treasury management, DEX listings, and more, fostering a transparent and inclusive community environment.

Security and performance at the forefront

The Sinai Upgrade also addresses the critical need for security in the expanding multichain landscape. The launch of Sentinel, along with asynchronous backing, bolsters security and increases transaction throughput, ensuring that Acala remains at the cutting edge of blockchain performance.

Strengthening the aSEED pathway

Accompanying these technical advances, the Sinai Upgrade finalizes the aSEED pathway, facilitating a stable and equitable process for converting and redeeming aSEED tokens. This includes establishing clear redemption criteria, which promises a fair and transparent framework for remaining aSEED holders, reflecting Acala’s commitment to maintaining trust and stability within its community.

Quote from Bryan Chen, Chief Technical Officer at Acala

“The Sinai Upgrade is a testament to Acala’s dedication to enhancing the DeFi ecosystem through robust multichain solutions,” said Bryan Chen. “As a Polkadot-native platform, we are uniquely positioned to lead the charge towards a more interconnected and efficient blockchain universe.”

About Acala

Acala is a premier platform for decentralized finance within the Polkadot network, offering innovative solutions designed to integrate and enhance liquidity across a wide range of blockchain environments. Committed to innovation, security, and community empowerment, Acala leads the way in advancing blockchain technology for global users and institutions.