NYDIG

Bitwise CIO Matt Hougan stated that Galaxy, NYDIG, and Standard Chartered disagree on when bitcoin will hit its bottom, but all three anticipate a future bull cycle. The discussion focuses on long-term factors rather than short-term price predictions.

Bitcoin's decline is attributed to multiple factors including AI, tech IPOs, quantum computing, and the sale of Strategy by NYDIG. The article highlights that no single cause is responsible for the slide.

NYDIG’s Greg Cipolaro suggests a $1.3B sale of BlackRock’s IBIT occurred at a below-market price, with the seller forgoing millions in potential gains for immediate execution, indicating a large directional holder exited a trade. The analysis implies the transaction may have been driven by a whale liquidating a position.

The Senate's crypto market structure bill is at risk of failing if it cannot clear a floor vote by August, according to NYDIG's Greg Cipolaro. The bill needs to be passed before the midterms. Failure to do so may result in the bill not passing.

Alcoa is in talks to sell its idle Massena East aluminum smelter in upstate New York to Bitcoin mining firm NYDIG. The smelter, which has been closed since 2014, offers existing heavy electrical infrastructure and hydropower access, making it suitable for digital asset mining. The transaction aligns with Alcoa's strategy to divest underperforming U.S. smelter assets.

Alcoa is nearing a deal to sell a dormant New York smelter site to Bitcoin miner NYDIG, with the transaction expected to close mid-year. The aluminum company is working to offload 10 dormant U.S. smelter sites.