![What Web3 Games Need to Do to Break into the Japanese Market - IVC Partner Ann Chien](https://static.news.bitcoin.com/wp-content/uploads/2024/08/cover_ivc.jpg)

**IVC** is a **Web3 venture capital fund** supported by prominent Japanese gaming studios, focusing on **Web3 gaming**, **digital entertainment**, **AI**, **DeFi**, and critical infrastructure. They have invested in over **200 projects** and host **Japan’s largest Web3 conference**, **IVS Crypto**, attracting over **12,000 attendees** annually.

### About Ann Chien

**Ann Chien**, a Partner at [IVC](https://www.ivcrypto.io/), recently discussed the **Japanese Web3 market** on the Bitcoin.com News Podcast. Previously, she was a Director at **HCM Capital**, the venture arm of **Foxconn Technology Group**, specializing in **blockchain** and **fintech investments**. With her extensive background in **investment banking** at **Shenwan Hongyuan** and **equity research** at **BNP Paribas**, Ms. Chien is a significant figure in the blockchain investment landscape.

For more insights on IVC, visit [ivcrypto.io](https://www.ivcrypto.io/).

---

The Bitcoin.com News podcast features interviews with the most interesting leaders, founders, and investors in the world of **Cryptocurrency**, **Decentralized Finance (DeFi)**, **NFTs**, and the **Metaverse**. Follow us on [iTunes](https://podcasts.apple.com/us/podcast/id1406939454) or [Spotify](https://open.spotify.com/show/7anMDGq4UL29API7BHgEF8).

IVC is a Web3 venture capital fund backed by leading Japanese gaming studios. They focus on Web3 gaming, digital entertainment, AI, DeFi, and

Unlocking the Secrets of Web3 Gaming: Strategies for Success in the Japanese Market

HIVE Digital Technologies Ltd. (HIVE) has made a **correction** regarding its **HODL value** in relation to its unaudited production results for August 2024. The corrected HODL balance as of **August 31, 2024**, stands at **2,567 Bitcoins**, valued at over **$151 million**, as opposed to the previously reported **2,533 Bitcoins** and $164 million. This adjustment highlights the **volatile nature** of Bitcoin's price, which led to an overstatement of approximately **$13 million**.

### Executive Commentary
Frank Holmes, Executive Chairman of HIVE, emphasized the company's dedication to minimizing **General and Administrative (G&A)** costs while maximizing **cash flow** and **revenue per employee**, all while steering clear of excessive share dilution. Aydin Kilic, President and CEO, noted ongoing **fleet optimizations**, aiming for a **hashrate increase** to **13.5 EH/s** after upgrades at their Paraguay facility, with a strong focus on **sustainable energy** use.

The HODL value and operational strategies are in line with HIVE's overarching goal of improving **mining performance**, accumulating **clean virgin Bitcoin**, and committing to **environmental sustainability**.

### At-the-Market Offering
On **August 17, 2023**, HIVE initiated an **equity distribution agreement** with Stifel GMP and Canaccord Genuity Corp, allowing the sale of up to **$90 million** in common shares under the **August 2023 ATM Equity Program**. This agreement was terminated on **July 19, 2024**.

During the period from **July 1 to July 19, 2024**, the company issued **1,368,297 common shares** under this program, generating **C$6.09 million** (approximately **$4.46 million**) in gross proceeds. The shares were sold at **prevailing market prices**, averaging **C$4.45** each, with a cash commission of **$133,735** paid for the services rendered under the agreement. The net proceeds from this initiative are intended for the acquisition of **data center equipment**, strategic investments to bolster **BTC assets** on their balance sheet, and general working capital.

HIVE Digital Technologies Provides Updated August 2024 Bitcoin HODL Value, ATM Equity Program Details

HIVE Digital Technologies Reveals Corrected Bitcoin HODL Value and ATM Equity Program Insights for August 2024

### A Town in Transition
On a typical day, the drive from Dallas to Corsicana takes about an hour, passing through small towns and landmarks. Corsicana, known for its historical oil boom, now finds itself on the brink of a different kind of boom—**Bitcoin mining**. 

### From Oil to Bitcoin
Once a hub for oil extraction, Corsicana now struggles with economic challenges, with **nearly one-sixth of its population living below the poverty line**. Amidst crumbling roads and neglected neighborhoods, a **265-acre bitcoin mining facility** is under construction by Riot Platforms, aiming to become the **largest bitcoin mine in the world**. Local officials view this as a potential economic boost, but many residents are concerned about the impact on property values, the energy grid, and their rural lifestyle.

### Community Resistance
Jackie Sawicky, founder of the **Texas Coalition Against Cryptomining**, is at the forefront of the opposition. After discovering plans for the Riot mine during a city meeting, she mobilized protests against what she calls a **“stupid, disgusting waste of energy.”** With a growing online presence of over 800 members, her coalition is determined to fight the project, citing concerns over noise, resource depletion, and community disruption.

### The Energy Dilemma
Bitcoin mining is energy-intensive, requiring **up to one gigawatt of power**, enough to supply hundreds of thousands of homes. The Texas grid, already under strain from increased mining and data center demands, may need to nearly **double its capacity** in the coming years. Critics argue that bitcoin miners exploit stabilization schemes, straining local resources while benefiting financially.

### Noise and Health Concerns
Residents near existing bitcoin facilities report severe noise pollution and health issues attributed to mining operations. In Corsicana, the Riot facility is currently operational at about **10% capacity**, yet locals express concerns over light and noise disturbances. Riot claims to use a quieter **liquid immersion cooling system**, but skepticism remains about its effectiveness at scale.

### Political Challenges
Opposition to the bitcoin mine is complicated by the political landscape in Navarro County. Despite Sawicky's passionate activism, local officials have shown little inclination to intervene against the mining industry, further complicating efforts for community-led initiatives.

### A New Era for Corsicana
As Corsicana grapples with the realities of this new technological incursion, residents like Sawicky plan to continue their fight, even as some choose to leave for quieter pastures. The transition from oil to bitcoin marks a pivotal moment for this small Texas town, raising questions about the future of its community and environment.

A cash-strapped city in rural Texas will soon be home to the world’s largest bitcoin mine. Local protesters are “raising hell.”

Texas Town Faces Turmoil as World's Largest Bitcoin Mine Takes Shape

### Peter Brandt's Bold Bitcoin Predictions

**Veteran trader Peter Brandt** has outlined a potential price path for **Bitcoin (BTC)** that could see it break out of its current stagnation and reach **new record levels**. With over **737,800 followers** on social media platform X, Brandt shared a chart suggesting that Bitcoin is following a **parabolic curve pattern** on the weekly chart.

![Peter Brandt's Chart](https://dailyhodl.com/wp-content/uploads/2024/09/Trader-Peter-Brandt-Hints.jpg)

### The Cup-and-Handle Formation
Brandt hints that Bitcoin might be forming a **massive cup-and-handle pattern** dating back to late **2020**. This pattern is often seen as a **bullish continuation**, indicating that Bitcoin could be taking a breather before breaking through a **key resistance level**.

> *“Might we declare Tea and Crumpets on this chart?”* - Peter Brandt

![Cup and Handle Pattern](https://pbs.twimg.com/media/GXEa7vIWYAAw4vq?format=jpg&name=large)

### Key Price Levels
According to Brandt, the crucial level to breach is **$73,734**. His chart suggests that if Bitcoin breaks this level, it could soar above **$150,000** sometime next year. Currently, Bitcoin is trading at **$57,652**, indicating a potential gain of **160%** if it reaches Brandt’s bullish target.

### Warning Signs
However, Brandt also cautioned last week that Bitcoin could drop below **$50,000** if bulls fail to gain momentum. He mentioned:
> *“A test of the lower boundary would be to $46,000 or so. A massive thrust into new all-time highs is required to get this bull market back on track.”*

![Inverted Expanding Triangle](https://pbs.twimg.com/media/GWvIQ9TXkAAtS-U?format=png&name=small)

### Final Thoughts
Brandt's analysis showcases the **volatile nature** of Bitcoin trading and highlights the potential for significant price movements in the coming months. 

**Disclaimer:** Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl participates in affiliate marketing.

Seasoned trader Peter Brandt is outlining a potential price path for Bitcoin that would see BTC massively break out of its price doldrums en route to fresh record levels. 

Bitcoin's Next Big Move? Peter Brandt Predicts a Parabolic Surge to $150,000!

### sCrypt's Historic Win at the Bitcoin Olympics

**sCrypt**, a pioneering blockchain scripting and contract firm, made waves at the **2024 Bitcoin Olympics Hackathon** by showcasing a remarkable transaction that enables payments across different blockchains. The dynamic duo of software engineers, **Mihael Šinkec** and **Yusuf Idi Maina**, leveraged the **SPV** (Simplified Payment Verification) and the **Bitcoin opcode OP_CAT** on the **BTC Signet**, demonstrating how a user can utilize **Litecoin** to acquire **BTC Ordinal tokens**.

### The Innovative Approach

sCrypt emphasized that their demonstration paves the way for **DeFi applications**, allowing for the direct exchange of various digital assets without the need for intermediaries like exchanges. This trustless method eliminates the necessity for coordination between the involved parties.

**Šinkec** explained that creating such a transaction using raw **BTC ASM** (assembly code) would have been overly complex, which is why they opted for sCrypt’s **SDK**. This toolkit allows developers to write in **TypeScript**, focusing more on the logic of contracts than on intricate code details. They successfully verified transaction preimages and conducted a straightforward function call within a BTC covenant.

### The Technical Details

The process further utilized **Simplified Payment Verification (SPV)** on **Litecoin**, reconstructing the **Merkle Root** of a transaction using its data and **Merkle Path**, thereby validating it against the transaction’s Block Header. This method allows clients to confirm the Block Header's integrity without needing to download the entire blockchain.

In a detailed explanation on Medium, **Šinkec** noted the challenges associated with verifying a **Litecoin transaction proof** using **BTC script**, citing the differing **Proof of Work (PoW)** algorithms of the two blockchains. They implemented an **oracle** to validate Litecoin transactions, utilizing **Lamport signatures** verifiable within **BTC script**.

The **Litecoin SPV proof** facilitated the unlocking of a **BTC Ordinal token** secured in a BTC covenant, allowing for the seamless transfer of assets to the recipient’s BTC address. A covenant imposes constraints on how specific coins can be utilized in future transactions.

### The Importance of OP_CAT

**Šinkec** stated that enabling **OP_CAT** on BTC opens up numerous possibilities, including advanced functionalities like covenants and Merkle Proof validation. They used these mechanisms to create an **Ordinal sales** listing as a covenant on BTC, which accepts **Litecoin** as a payment method, bypassing traditional exchanges.

**OP_CAT** is an opcode that was part of the original Bitcoin protocol, allowing for the concatenation of two items on the stack, thus enhancing the sophistication of transaction scripts. Although originally disabled due to concerns about network spam, it was re-enabled on the **BSV blockchain** in recent years, allowing for more innovative uses of blockchain technology.

Currently, sCrypt’s cross-chain transaction operates solely on the BTC Signet, a testnet for blockchain applications. However, its functionality on BSV indicates a potential for future cross-chain payment solutions.

![sCrypt Hackathon](https://108.181.5.29/embed/ncwDirkGR0Q?si=ImBbmKiOnkXanA6-&controls=0)  
Watch: sCrypt wants to bring hackathon initiative to more people

**Explore more about blockchain** in our [Blockchain for Beginners](https://108.181.5.29/blockchain101/) section, your ultimate resource guide to blockchain technology.

sCrypt's Mihael Šinkec and Yusuf Idi Maina leveraged SPV and the Bitcoin opcode OP_CAT on the Bitcoin Signet, demonstrating a transaction using Litecoin to purchase BTC Ordinal tokens.

sCrypt Triumphs at Bitcoin Olympics with Groundbreaking Cross-Chain Transaction Using OP_CAT

## China's Digital Yuan Surpasses $1 Trillion in Transactions

In a significant milestone, **China's Digital Yuan** has reached an impressive **$1 trillion** in total transactions, as confirmed by a **People's Bank of China (PBOC)** official. This development underscores the increasing adoption and reliance on digital currencies in the world's second-largest economy.

### Key Insights from the PBOC Announcement
- The Digital Yuan's rapid growth reflects a **strong governmental push** towards digitization in finance.
- With this achievement, China is setting a precedent for other nations contemplating their own **Central Bank Digital Currencies (CBDCs)**.
- The PBOC has indicated that the **Digital Yuan** aims to enhance financial inclusion and streamline transactions across various sectors.
- This vast adoption could pose challenges for the **cryptocurrency market**, as it introduces a state-controlled digital asset that may compete with decentralized cryptocurrencies like Bitcoin.

### Implications for the Global Financial Landscape
- The success of the Digital Yuan could influence other countries to accelerate their own digital currency projects.
- Analysts believe this move might lead to a **shift in global financial power dynamics**, especially as countries assess the efficacy of CBDCs.

As the Digital Yuan continues to gain traction, stakeholders in the cryptocurrency market should closely monitor its impact on the broader economic landscape and the competitive dynamics of digital currencies worldwide.

China's Digital Yuan Hits $1 Trillion: What It Means for Cryptocurrency

# A Review of the Crypto World: Latest Updates

Crypto has emerged as a major political issue in the US with the campaigns for election going on. Head of Firmwide research at Galaxy Digital, **Alex Thorn**, noted that August was a rough month for Bitcoin, with **eight out of the eleven prior Augusts** witnessing declines in its trading price. Political events are also influencing the crypto landscape. 

In Thorn's view, **Trump’s victory** in the upcoming elections could be **bullish** for the crypto market, as he aims to make the US the **‘crypto capital of the planet’**. In contrast, **Kamala Harris’s** victory might be neutral due to her advisors' ties to the Biden administration's crypto policies. 

Looking ahead, September is typically a weak month for crypto, but the subsequent months of **October, November, and December** are historically more positive. Despite anticipated **Fed interest rate cuts**, concerns linger in the market as **JPMorgan**'s Head of Global and European Equity Strategy cast doubt on a potential crypto bull market. 

In a CNBC interview, **Anthony Pompliano**, CEO of Professional Capital Management, discussed recent Bitcoin price movements. Notably, Germany’s government and the **Mt. Gox** exchange have offloaded significant amounts of Bitcoin, impacting supply. With **over 70%** of Bitcoin not moving for more than a year, Pompliano predicts this could drop to **50-55%**, indicating strong long-term holders. He emphasizes that **time** is the only catalyst for Bitcoin, rather than political candidates.

## Intel Corporation (NASDAQ: INTC)

**Number of Hedge Fund Holders:** **75**  
Intel Corporation manufactures and sells computing products globally, and has launched a chip designed for **blockchain applications** such as Bitcoin mining. Despite recent revenue declines, Intel is focusing on cost reduction and maintaining its status as a **world-class semiconductor manufacturer**. 

Currently, Intel ranks **6th** on the list of the best cryptocurrency stocks according to hedge fund interests. As hedge funds show confidence in Intel, it remains to be seen if the company can leverage its technology to capitalize on the growing digital and cryptocurrency markets.

We recently compiled a list of the 20 Best Cryptocurrency Stocks to Buy According to Hedge Funds. In this article, we are going to take a look at where Intel Corporation (NASDAQ:INTC) stands against the other cryptocurrency stocks. A Review of the Crypto World: Latest Updates Crypto has emerged as a major political issue in the […]

Why Hedge Funds Are Betting Big on Intel: The Cryptocurrency Connection

### Stand With Crypto's Nationwide Tour

A **big purple bus** emblazoned with "**AMERICA ❤️ CRYPTO**" is traveling through five key swing states to promote cryptocurrency awareness ahead of the upcoming presidential election. The **Stand With Crypto Alliance**, supported by **Coinbase**, is pushing for a crypto-related question to be asked at the **presidential debate** between **Donald Trump** and **Vice President Kamala Harris**.

### The Campaign's Objectives

The campaign, which began last week in **Phoenix** and **Las Vegas**, aims not only to encourage voter registration but also to get candidates to discuss their positions on cryptocurrency. A letter writing petition initiated by the alliance has garnered over **2,000 signatures**, urging ABC News to focus on crypto during the debate. The letter states, "**I am one of the 52 million Americans who own cryptocurrency**... I urge you to ask the candidates their position on cryptocurrency and its place in the American economy."

### Trump vs. Harris on Crypto

While Trump has labeled himself as the **pro-crypto candidate**, promising to fire SEC Chair **Gary Gensler**, Harris's stance on digital assets remains unclear. The **Stand With Crypto Alliance** has graded Trump and his running mate **JD Vance** with an "A" for their crypto support, while Harris and her partner **Tim Walz** received an "N/A" due to their pending stance.

### Voter Engagement and Support

The alliance is hosting **2,500 debate watch parties** nationwide and has registered **104,000 voters** through its platform. The tour will continue to key states, including **Michigan**, **Wisconsin**, and **Pennsylvania**, leading up to the election.

### Bipartisan Support for Crypto

The movement highlights the growing bipartisan support for cryptocurrency legislation, with recent successes in the House. The group emphasizes the need for **sensible regulation** that enables growth in the industry.

### Upcoming Events

The bus tour will culminate in **Washington, D.C.**, on **Sept. 18**, featuring speeches from Coinbase executives and a performance by **The Chainsmokers**.

### The Future of Crypto in Politics

As the election approaches, crypto advocates see this moment as pivotal for the future of the industry. The alliance has also engaged with Harris's team, hinting at the possibility of a forthcoming position statement on cryptocurrency from her campaign. 

**The Stand With Crypto Alliance** remains committed to ensuring that cryptocurrency is a topic of discussion in the political arena, especially as public interest and ownership continue to grow.

Stand With Crypto, an alliance backed by Coinbase, has been traveling the country to promote its key issue and wants it to come up in Tuesday's debate.

Unlocking the Secrets of Web3 Gaming: Strategies for Success in the Japanese Market

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About Ann Chien

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HIVE Digital Technologies Reveals Corrected Bitcoin HODL Value and ATM Equity Program Insights for August 2024

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Other Latest News

HIVE Digital Technologies Reveals Corrected Bitcoin HODL Value and ATM Equity Program Insights for August 2024

Texas Town Faces Turmoil as World's Largest Bitcoin Mine Takes Shape

Bitcoin's Next Big Move? Peter Brandt Predicts a Parabolic Surge to $150,000!

sCrypt Triumphs at Bitcoin Olympics with Groundbreaking Cross-Chain Transaction Using OP_CAT

China's Digital Yuan Hits $1 Trillion: What It Means for Cryptocurrency

Why Hedge Funds Are Betting Big on Intel: The Cryptocurrency Connection

Crypto Advocates Rally for Debate Spotlight: Will Trump and Harris Address Cryptocurrency?