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CleanSpark, a BTC miner, is gearing up to double its hashrate in anticipation of the upcoming Bitcoin halving.

Ahead of Bitcoin's scheduled halving this year, crypto mining firm CleanSpark announced on February 6 its anticipation of doubling its hashrate.

Simultaneously, the company disclosed its acquisition of three mining facilities in Mississippi for $19.8 million, along with an additional facility in Dalton, Georgia, purchased for $6.9 million.

By increasing its hash rate, CleanSpark aims to enhance operational efficiencies and sustain competitiveness. CEO Zach Bradford underscored the importance of these acquisitions in preparing for the halving, expressing optimism about the company's prospects.

The Bitcoin halving event is designed to decrease rewards for successful Bitcoin mining. It occurs approximately every four years, following 210,000 block production cycles. After this year's halving, 29 more halving events are anticipated until at least 2140, assuming the rate remains on the estimated four-year cycle.

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Prometheum, the sole crypto platform registered in the United States, selects Ether as its inaugural product.

Prometheum has yet to generate any revenue, having recently cleared the final regulatory hurdle for opening its custody operation. However, co-CEOs Aaron and Benjamin Kaplan announced their intention to commence custody of customers' ETH by the end of the following month.

"We aim to cater to the largest market cap and most liquid token," stated Aaron Kaplan in an interview with CoinDesk. "Ethereum leads the way, with many more to follow."

Prometheum's decision to prioritize ETH as its inaugural asset may bring its own set of challenges. Unlike bitcoin (BTC), which the SEC has explicitly stated is not a security and thus beyond its purview, the commission has been less forthcoming regarding whether ETH should be classified as a security falling under its jurisdiction. In contrast, the Commodity Futures Trading Commission has been clear in affirming ETH as a commodity.

The outcome of Prometheum's business strategy and whether the SEC maintains its stance or seeks to intervene isn't the only uncertainty facing the firm. Like the broader sector, its future could be influenced by ongoing legal proceedings that promise clarity on the classification of crypto securities.

Bitcoin is expected to remain stable until summer — trade with confidence.

Since the close of January, the market has undergone a significant shift in its interest rate projections, a development not entirely unexpected. During the initial United States Federal Open Market Committee (FOMC) meeting on January 31, policymakers surprised many by adopting a noticeably hawkish stance, effectively dismissing the possibility of an interest rate reduction in March. Subsequently, on the ensuing Friday, U.S. labor statistics surpassed expectations by a considerable margin.

The advantage of a stagnant market lies in the absence of pressure to time entries and exits. Psychologically, it's far simpler to steadily allocate small amounts to select assets and await potential breakthroughs to higher levels.

Historical halving cycles suggest that Bitcoin typically requires between 220 and 240 days to reach a new all-time high post-halving. This implies that we might not witness the next all-time high until the year's end, offering approximately 11 months or 46 weeks of Dollar-Cost Averaging (DCA) opportunities from this point forward, or the prospect to explore more intricate strategies. Viewing it from this perspective, a flat crypto market could indeed be viewed as a hidden blessing.

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