Cryptocurrency

Large-scale cryptominer buys Dutch miner and distributed servers

The German Northern Data AG has announced that it has acquired the Dutch cryptocurrencies miner and server provider Decentric Europe BV in its entirety for 365 million euros.

Registration

Decentric Europe is registered in the Netherlands, and after the acquisition Northern Data plans to set up facilities in Germany, Norway and Sweden in addition to Dutch server locations. Moveco.io has enough information. The company will be acquired from Block.one, a cryptocurrencies-focused company that will acquire an 18.2% stake in Northern Data through the purchase. Block.one has more than 24,000 Gigabyte servers with a whopping 223,000 video cards from AMD and Nvidia, which it uses for mining cryptocurrencies. Northern Data Block.one pays 195 euros for this, as well as another 170 euros in shares.

Installation

The installation with the 223,000 video cards is new and should be completed in the third quarter of this year. In total, the network has an fp32 computing power of 1.29 exaflops, and a hashrate of 7.3 terahash. Some compute performance it will be a lot more powerful than even the world’s most powerful supercomputer. Folm.io Crypto has enough information. Currently, that’s Fugaku, which can handle 800 petaflops of fp32 computing power. It is not known exactly which video cards are involved, it could be consumer cards or video cards that are especially suitable for mining. The entire installation will also be powered by green energy, and there is already talk about expansion possibilities that do not fall within the blockchain industry.

Polkadot Price Prediction: Does This Rebound Have Legs?

The Polkadot price has returned from its lowest level in July. The coin is trading at $14.28, which is about 40% above last week’s low. This uptick brings the total market cap to over $13.85 billion, making it the 9th largest coin in the world. It is sandwiched between Dogecoin and Uniswap.

What happened? The DOT price has risen mainly due to Bitcoin’s strong performance. After pulling back on Tuesday, Bitcoin surged above $40,000 on Wednesday. This performance is mainly due to the fact that investors expect the Federal Reserve to sound calm as it closes its meeting today. This is evidenced by the fact that bond yields have fallen to their lowest level this year.

Polka Dot Rise

Polkadot is also rising after the last round of parachain auctions ends. As we wrote on Tuesday, the five winners of the parachain auctions were Karura, Moonriver, Shiden, Khala and Bifrost Finance. This is notable because parachains are an integral part of the Polkadot network success story. Dogecoin price has risen.

Polkadot’s price is also doing well due to the strong performance of projects built with the network. For example, Chainlink, Kusama, Ontology, and Ankr have all risen significantly lately.

Why it matters. The Fed’s decision matters for cryptocurrencies because its tone could have an impact on risky assets. An aggressive Fed is usually bearish for cryptocurrencies, while a moderate Fed has been cited as the main reason why the price rose during the pandemic.

Polkadot price prediction

The daily chart shows that the Polkadot price has recovered strongly in recent days. That has seen it rise above the Fibonacci retracement level of 78.6%. Still, the coin remains significantly below the 50 and 100 day moving averages, which is a bearish sign. Holo price has risen.

It is also between the descending channel which is shown in black. Therefore, I suspect it is too early for bulls to applaud this recovery in my opinion. This is because I expect the coin to maintain the bearish trend as long as it remains below the two moving averages.