A new survey shows that a majority of likely voters want more crypto regulation. “Our national survey shows voters believe in the promise of digital assets and see it as a long-term part of the economy and their financial future,” said the Crypto Council for Innovation. Voters Want More Cryptocurrency Regulation The Crypto Council for […]

The largest publicly traded Bitcoin miner in the U.S. by hash rate and mining fleet, Core Scientific (CORZ), issued a bankruptcy warning in a filing with the SEC on Oct. 26. Shortly thereafter, the stock took a nosedive. The stock plummeted from $1.02 to $0.22. While the CORZ stock was trading at $10.43 at the beginning of the year, it is now down 97% year-to-date. Notably, the Bitcoin price was unimpressed by the news. As NewsBTC reported, a Bitcoin miner capitulation is currently the biggest intra-market risk. Therefore, it is questionable whether the risk of a capitulation event is now over or Core Scientific is the harbinger of a bigger crash? Related Reading: Bitcoin’s Biggest Intra-Market Risk Right Now – What You Need To Know Bitcoin Miner Core Scientific On The Ropes Documents filed with the U.S. Securities and Exchange Commission reveal that there is a possibility of bankruptcy. The company said it will not make its debt payments due in late October and early November. In addition, Core Scientific announced that holders of its common stock “could suffer a total loss of their investment.” Cash could be depleted by the end of the year or sooner, in part because Celsius arguably owes the miner $5.4 million. Related Reading: Bitcoin Price Just Saw Technical Correction, Why BTC Could Rise Again However, responsible for the Bitcoin miner’s situation, however, according to management, are that “operating performance and liquidity have been severely impacted by the prolonged decrease in the price of bitcoin, the increase in electricity costs,” as well as “the increase in the global bitcoin network hash rate”. Compass Point analysts believe bankruptcy is a real possibility, as CNBC quotes: Still, without knowing how discussions are going with CORZ’s creditors, we think a scenario where CORZ has to file for Chapter 11 protection has to be taken seriously, especially if BTC prices decline further from current levels.  For the moment, the Bitcoin miner is considering various options for raising additional capital. All-Clear For The Bitcoin Price For Now? The SEC document gives the all-clear for the bitcoin price in that a sale of Core Scientific’s bitcoin holdings has already taken place. The company now holds only 24 Bitcoins; 1,027 Bitcoins were already sold last month. In this respect, Core Scientific’s treasury is not more of a concern, but rather the overall bad state of the Bitcoin mining industry. The industry is suffering from skyrocketing electricity costs as well as the depressed Bitcoin price. Many larger Bitcoin mining companies ordered new hardware when the price was much higher. Due to long delivery times, they received the machines much later, at a time when the hash price was already much less profitable. Another well-known Bitcoin miner, Compute North, filed for bankruptcy back in September and owes at least 200 creditors up to $500 million,as Bitcoinist reported. The next few months will therefore have to reveal whether it will take a deeper shakeout to flush unprofitable and over-leveraged miners out of the market. Core Scientific had the highest debt to equity ratio in the industry at 3.5x. Currently, the miner net position change continues to indicate that the industry is exerting selling pressure on the market. The metric shows that the total number of Bitcoins sold by miners was higher than the amount held on every day throughout October. From a technical perspective, BTC looks ´poised to reach long territory’ soon. For now, the price needs to sweep the low and should hold the level at $19.9K.

After revealing Alphabet Inc.’s Google Cloud partnership with Coinbase, the multinational technology conglomerate holding company has announced the firm’s “Google Cloud Blockchain Node Engine.” While more blockchains will be supported, Google said that “Ethereum will be the first blockchain supported by Blockchain Node Engine.” Google Launches Cloud-Based Blockchain Node Engine Alphabet Inc., otherwise known as […]

Toyota City, Japan, Oct 27, 2022 - (JCN Newswire) - JERA Co., Inc. (JERA) and Toyota Motor Corporation (Toyota) announce the construction and launch of the world's first (as of writing, according to Toyota's investigations) large-capacity Sweep Energy Storage System. The system was built using batteries reclaimed from electrified vehicles (HEV, PHEV, BEV, FCEV) and is connected to the consumer electrical power grid. It begins operation today.
In the future, demand for storage batteries is expected to grow as they become necessary supply-stabilizing tools when expanding renewable energy in the movement toward CO2 emissions reduction, a vital part of achieving carbon neutrality. At the same time, limited supplies of battery materials including cobalt and lithium, mean there is an ongoing need for environmentally conscious initiatives, such as reclaiming used electrified vehicle batteries for effective use as storage batteries. In response, JERA and Toyota began discussions in 2018 to establish battery reuse technologies, which eventually led to this large-capacity, grid-connected Sweep Energy Storage System.

Toyota's new storage system is equipped with a function called sweep, which allows the use of reclaimed vehicle batteries, which have significant differences in performance and capacity, to their full capacity regardless of their level of deterioration. The sweep function, developed by Toyota Central R&D Labs, Inc., is a device that can freely control energy discharge by switching electricity flow on and off (bypassing) through series-connected batteries in microseconds.

Furthermore, the sweep function also enables direct AC output from the batteries, while reusing onboard inverters eliminate the need for a power conditioner (PCS). That contributes to reducing costs and helps avoid power loss when converting from AC to DC by PCS, with the aim of improving effective energy use.

The project plans to operate grid storage batteries for recharge and discharge operations, connected to the Chubu Electric Power Grid Co., Inc. power distribution system from a facility (see below(1)) at JERA's Yokkaichi Thermal Power Station. JERA and Toyota aim to introduce approximately 100,000 kWh of supplied electricity in the mid-2020s, thereby not only reducing the overall cost of the energy storage system, but also contributing to reduction of CO2 emissions.

(1) Selected by Japan's Ministry of the Environment to conduct an "FY2022 Project for Early Social Implementation of a Decarbonized Metal Recycling System."

In addition, JERA is developing a low environmental impact process for recycling lithium-ion batteries for electrified vehicles(2), which Toyota plans to support by leveraging the expertise and knowledge it has accumulated through its battery recycling initiatives to date. By collecting used batteries and reusing resources, both companies hope to accelerate their efforts toward achieving a resource-recycling society.

(2) JERA and Sumitomo Chemical Start a Demonstration Project to Develop a Low Environmental Impact Recycling Process for Electric Vehicle Lithium-ion Batteries (JERA Press Release, April 19, 2022)

JERA will continue to work proactively not only within the energy industry but also with leading companies in Japan and overseas to develop technologies such as battery storage systems and services that contribute to optimal energy utilization toward achieving a decarbonized and resource-recycling society.

Toyota actively promotes electrified vehicle adoption and pursues effective battery use, including electrified vehicle battery reuse, for the development of social infrastructure that will support the widespread adoption of electrified vehicles, expand the use of renewable energy, and promote resource recycling toward achieving carbon neutrality.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comJERA Co., Inc. (JERA) and Toyota Motor Corporation (Toyota) announce the construction and launch of the world's first (as of writing, according to Toyota's investigations) large-capacity Sweep Energy Storage System.

The world’s largest memecoin is currently on a roll gaining more than 10% for the second consecutive day! As of press time, DOGE is trading 15% up at a price of $0.075 with a market cap of just under $10 billion. this is for the first time in ten weeks that the DOGE price is

The post Dogecoin (DOGE) Rallies Over 10% For Second Day, Huge Whale Transactions appeared first on CoinGape.

Economist Peter Schiff has warned that the U.S. dollar will crash. Noting that the U.S. is “in a much bigger fiscal mess than Great Britain,” with a much bigger debt problem, Schiff stressed: “Can we possibly repay this debt? Of course not. Repaying the debt is impossible. So, what’s going to happen? We’re going to […]

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The world’s largest meme crypto like Dogecoin and Shiba Inu prices printed green indexes as the global digital asset market saw a broad recovery. However, the whale transaction trackers have reported that crypto whales have added a load amount of Shiba Inu over the past 24 hours. Shiba price up by 5% According to Whale

The post Whales Move 3.3 Trillion Shiba Inu; Will SHIB Surge Ahead? appeared first on CoinGape.

As Bitcoin eyes a possible breakout above $21,000, the broader crypto market’s liquidations over the past day topped a massive $1 billion.