Txbit Shutting Down

They've been taking equity in core Scientific as they emerge from Bankruptcy tax bit is closing down space Mesh snap update and rainbow Miner joins The great white North all that and more In today's episode of blocks where I Cover cryptocurrency news as quickly as Possible from the perspective of a Cryptocurrency miner let's get into it Thanks Core scientific one of the biggest Publicly listed Bitcoin miners is Making Waves as it emerges from chapter 11 Proceedings and guess what bit main the PowerHouse behind some of the most Powerful mining rigs out there and Anchorage digital a prominent crypto Platform are all set to take Equity Stakes in core scientific according to The court documents filed recently core Scientific is planning to buy a whopping 27 000 units of the bit main antminer S19j XP the top tier air-cooled model For a cool 77.1 million US Dollars now Here's the kicker part of this purchase Will be made with 54 million dollars Worth of equity in the company itself Once the reorganization takes place What's the big deal about this Equity Stake you ask well this smart move by Core scientific helps them save a Substantial 30 million dollars which They would have otherwise needed in Newcast cash it's like they're tapping

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Into the power of crypto Synergy and Here's something that caught my eye this Marked bit means likely first foray into Taking a stake in a publicly listed Minor a significant step for them for Sure and they've been keeping things Pretty Hush Hush as they didn't respond To coindesk for request for comment now We might say this is mysterious right But as you know bit main on the back end With their plots behind cryptocurrency And the way they operate has always been Quite Hush Hush especially as we're Seeing with all of the altcoin crypto Miners around such as Caspa kadena and So on dash whatever it may be they have Certain business practices that also Participate in Market manipulation as Some may speculate but that's for the Tinfoil hats later on now it's not just Bit main getting in on the action Anchorage digital which had a 29 million Dollar loan to Cork scientific at the Time of bankruptcy is also expected to Opt for the equity option it's all about Strategic moves and securing their Positions in the ever evolving crypto Landscape but wait there's more core Scientific isn't stopping there they're Also in talks about a 55 million dollar Equity rights offering for their current Stockholders plus they're getting a Boost from B Riley the Investment Bank That's converting a 70 million dollar

Loan into a delayed Term Loan and Injecting an extra 25 million dollars in New financing so what's the takeaway From all of this well core scientific Even after filing for bankruptcy back in 2022 has managed to navigate the stormy Waters of the crypto industry with their Strategic Partnerships and Innovative Financing approaches they're aiming to Stay at the Forefront of the mining game From my perspective it is good that Course scientific will still manage to Stay afloat as it will hopefully help With decentralization of hash power in The ever-changing landscape of crypto as We've seen a lot of mergers and Acquisitions taking place the Consolidation of hash power has been Pretty significant over the past year Since this bear Market began the Textbook journey is coming to an end and It's happening sooner than we'd like on September 14 2023 text bit will Officially close its doors I know it's Quite a shock and it's tough news to Digest especially considering they're One of the few non-kyc options within The United States for smaller Cryptocurrencies the reason behind this Decision is complex but the primary Factors include the shifting landscape Of regulations and legal uncertainties Surrounding cryptocurrencies in Different countries of course the us

Being the primary one the world of Crypto is a dynamic one and sometimes External factors can force even Well-established platforms to make hard Choices it's not just about market Dynamics it's also about the rising Costs of compliance and and the constant Pressure on profit margins in essence The challenges have become too Overwhelming for textbit to continue Operating in the way they envisioned When they started their journey I can Feel the weight of this announcement and I'm sure many do too but the techsped Team isn't leaving you hanging at least For the most part on August 14 2023 They'll be offline for about an hour to Cancel all open orders and close down The trading feature after that they'll Be back online allowing you to withdraw Your funds until September 14th and Here's the crucial part if you have Funds on textbit make sure to withdraw Them before that date anything left After September 14th won't be Retrievable so let's be proactive about This to avoid any regrets down the line Now some of you might be wondering about The fate of Tex bits native token well Fear not the remaining non-circulated Supply of text bit tokens will be burned Marking the end of an era but the token Will still be tradable on pancake swap So there's a Silver Lining there however

I bet there will be absolutely no Liquidity and no possible way for you to Exchange it for anything of any value Whatsoever before we move on I do want To use this as a reminder to not keep Your cryptocurrency on exchanges there Are already reports of denied Withdrawals from text bit primarily due To being under a certain threshold the Highest amount I've heard of so far is 25 US Dollars now that might not sound a Lot and by definition of their support They say that's just pennies I can kind Of understand where they're coming from In this kind of large shutdown process However this is just another reminder to Not keep your cryptocurrency on Exchanges me personally I put it on Exchanges to pay bills and convert from Different cryptocurrencies or even trade For a little bit but at the end of the Day when I'm done I make sure to pull That cryptocurrency into a private Wallet this should be normal practice For you if you don't want to lose Anything with any other exchange Shutdowns which is highly likely with All of the regulations surrounding it in The United States right now earlier Today the team behind space mesh issued The version 1.0.15 update packed with alterations That could significantly impact your Space mesh experience for those inclined

Towards detailed insights this release Comprised a total of 10 commits since The previous one that's a considerable Amount of work the focal point however Lies within the compiled binaries these Binaries cater to a range of platforms Including Windows Mac OS and arm and Linux with the app image 64-bit and arm 64. furthermore gpg signatures are Provided for both x64 and arm 64 Bolstering security measures now let's Shift our Focus to the altered aspects Of this update the go space mesh library Has been updated to version 1.0.17 suggesting a potential Enhancement in performance and Efficiency for the space mesh ecosystem Another alteration relates to rewards Eligible layers for rewards are now Sorted thanks to work done by the Developers in issue number 1437 this Could possibly streamline the rewards Tracking process moreover the space mesh Team eliminated work old workarounds for Rewards and curbed excessive retries When querying balances this change was Made in response to issue 1444 and the Contributors the goal seems to be Refining the space mesh experience I Talked about how to mine space mesh Earlier last week or later last week so Make sure you check that out if you're Interested in the project now we have an Update from Rainbow minor version

4.8.9.9 this update might be labeled as A hotfix release but trust me it's got Some cool stuff that you'll definitely Want to know about so let's Dive Right In and see what the rainbow Miner team Has cooked up for us this time first up Let's talk mine owners they've added a Brand new Miner the one zero minor Version 1.2.2 designed for NVIDIA gpus And that's not all they've also updated The SRB minor multi-miner to its latest Version 2.3.2 this updated version supports AMD CPU Intel and Nvidia rainbow Miner does Not play favorites it's got something For everyone now here's something Interesting as well they've temporarily Disabled Nvidia for dual Dynex mining The developers are working on it and Rest assured it's a hiccup that'll soon Be ironed out on the pool section They've been hard at work here too the Echo pool has been updated and guess What they've added zeph to the mix and While they're making room for new Additions they've decided to wave Goodbye to a Pepe proof of work because Of you know it completely being a Failure it's out of the pool and if You're mining from the great white North You're in luck red panda mining rainbow Miner now supports a new region Canada It's about expanding their Horizons and Hopefully RPM catches on to Rainbow

Minor at some point here of course a Core update wouldn't be complete without Some essential changes rainbow Miner has Updated various files like Coinsdb.json the East dagsizes.json Minershaw 256.json and more they've even Made sure that web requests sail through Without any unnecessary certificate Checks and don't worry about those Miners they've got you covered they've Updated minor apis Dot psm1 and fix the Rygel fail issues especially when it Comes to silica mining it's all about Keeping things running smoothly so there You have it Miners and crypto Enthusiasts the lowdown on the rainbow Miner version 4.8.9.9 update it's proof that the Rainbow Miner team is on top of their Game constantly refining the experience For you finally we have some awkward News from Dynex and Sumitomo over there As Dynex has been listed on Mexc for the Futures pair now there's Obvious controversy surrounding this Because m-e-x-c and their future pairs Have been a detriment to projects in the Past even causing some issues Surrounding Caspa and pretty massive Manipulation Sumitomo did release a Statement from mexc's response because He did request that they do not utilize Any Perpetual or Futures Trading pairs For Dynex in response mexc said thank

You for your request and feedback However our management team have already Made the decision to enable the Dynex Perpetual Futures Trading pairs based on The high demand from our community users We apologize for any inconvenience this May cause and hope you understand now Obviously this is an issue that's been Going around like I said with other Smaller cryptocurrencies for quite some Time and it can cause some pretty heavy Manipulation relation on the price but From the perspective of decentralization And so on it's kind of expected that you Wouldn't be able to control this aspect From the developer team side so while Dynex has been able to control the pool Behaviors by limiting their hash rate Etc and control a lot of other aspects Of this cryptocurrency in particular Compared to the control developers have Other over other cryptocurrencies it Seems like it's a moot point when it Comes to trading and future pairs on Mexc let me know what you think about The future pairs from for Dynex on mexc Down in the comment section below thanks Everybody for watching that's going to Wrap up today's episode of blocks be Sure to hit the like comment subscribe And notification bells down below don't Forget to check me out on locals at son Of thetech.locals.com for my daily move So you can become a supporter over there

And you can get a month free of Supporter status with a purchase of my Crypto mining course at son of a Tech.com thanks everybody once again for Watching I'll see you next Tuesday

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