🚨🔴AI cryptomining network's 320,000 RTX 3090-class GPUs allegedly burn 112 megawatts of power on ‘zero useful AI computation’ — GPU rental costs jump 38%, but Pearl’s cards are doing random matrix math, study claims
A new research preprint claims that Pearl, a Layer-1 blockchain marketed as turning cryptocurrency mining into useful artificial intelligence (AI) computation, is doing nothing of the sort, despite having recently triggered a GPU mining rush. The study estimates Pearl's network runs at roughly 24 exahashes per second (EH/s) — the equivalent of about 320,000 RTX 3090-class GPUs drawing an estimated 112 megawatts (MW) — all while producing "zero useful AI computation." Researchers saw a roughly 38% jump in budget GPU rental prices on the marketplace vast.ai go to Pearl mining, with utilization climbing from 57% to 94% after the mining software went public in May.
For GPU buyers, the resource angle is the part that stings. The study attributes a roughly 38% jump in budget GPU rental prices on the marketplace vast.ai to Pearl mining, with utilization climbing from 57% to 94% after the mining software went public in May. Using a difference-in-differences comparison against pricier datacenter cards, Basu estimates around $600,000 per year in additional rental costs borne by independent researchers who compete for the same cheap hardware. However, he cautions that the figure depends on assumptions about how stable prices were beforehand. At PRL's recent price near $0.76, the paper calculates that mining is marginally profitable on budget cards such as the RTX 3060 Ti and roughly breakeven on an RTX 3090. Follow for top expert analysis and updates. Thanks. Buy and trade👇 to enjoy. dyor. $BANANAS31 $ON $ZEC #JPMorganCEOFightsCLARITYAct #SaylorHintsStrategyBitcoinBuy #ZcashResumesOrchardTransactionsAfterAIAudit #RippleLaunchesXRPLAIStarterKit #Write2Earn
🚨🆘🚨US Government Sold $646 billion of Treasury Securities this Week. 2nd Wave of Inflation Approaches 10-Year Treasury Yield
The US government sold $646 billion of Treasury securities during the week, spread over 10 auctions. Of these auction sales, $527 billion were Treasury bills, spread over seven auctions, with maturities from 4 weeks to 52 weeks, most or all of them to replace maturing T-bills; and $119 billion were 3-year and 10-year Treasury notes and 30-year Treasury bonds. That $119 billion in issuance replaced $60 billion of maturing notes, and no bonds matured, causing the total amount of notes and bonds outstanding to increase on net by $59 billion this week.
This was also the week two big inflation reports were released, showing that consumer price inflation had accelerated to 4.25% in May, and that producer price inflation had accelerated to 6.46%, which, along with another Iran-deal announcement on Thursday, created some special dynamics for long-term yields.
But Treasury yields of 1 year and shorter are not impacted by inflation. They’re boxed in by the Fed’s policy rates and by market expectations of those policy rates within their remaining maturity window.
🚨🆘Critical Update and High Alert SIREN Token Falls to $0.06 as Monitoring Flags Continued Selling by Controlling Address
SIREN fell to $0.06, down about 95% from its $1.3 high a week earlier, amid continued on-chain selling linked to a controlling address.
According to Foresight News, monitoring by Yu Jin said the controlling address has kept selling SIREN on-chain. On-chain data shows the related address sold about 360 million SIREN over roughly a day and a half, receiving about 48.7 million USDT.
Yu Jin said the address still holds about 319 million SIREN, representing 44% of total supply. Yu Jin added that tokens of this type are typically difficult to cash out in such size through one-sided on-chain selling alone, suggesting the controlling party may also be moving holdings through other addresses and channels.
Trade and enjoy. dyor Follow for more updates. Thanks. $SIREN
🚨🔥 Latest Update: Someone started ong osition with $30m on $SPCX He is famous for winning big trade. But will t be same this time. Time will tell. No trader remain 100% successful. Winning rate of 40%-50% is enough for getting rich.
🚨🆘 The largest $SPCX long position ever hit the books. Trader 0x9cc dumped $16.6million USDC into hyperliquid over the past 2 days, all to leverage long the SpaceX launch. He is now holding$18.5million of SPCX with $10million USDC still sitting on-chain.
This is largest position recorded everywhere for SPCX. One trader fully committed, hour before the IPO in history start trading.
In every Bitcoin cycle, a correction arrives that convinces the majority the bull market is over.
The chart above shows that these periods of maximum fear have historically occurred near key cycle support regions, while the long-term trend structure remained intact.
Today looks very similar.
The crowd sees a breakdown.
I see a market testing conviction.
If the macro structure holds, this correction may eventually be remembered as the opportunity that most people were too afraid to buy.
The biggest gains in Bitcoin have never come from buying strength.
They came from buying fear.
History never repeats exactly.
But so far, Bitcoin's cycle has rhymed remarkably well.
Bull market over?
Or final shakeout before the next expansion phase? Trade and enjoy. 👇👇🔥 $SOL