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ICT’s pilot cryptocurrency mining project will involve a very modest initial capex investment as a result of its ability to leverage existing infrastructure and excess power generation from IBR’s Elmworth hydrocarbon processing battery, fired by IBR’s clean burning natural gas production, to provide power to the mining control center. The pilot project currently has access to approximately 700 kW of very low cost power with the ability to expand that power generation capability rapidly. ICT’s parent company, Iron Bridge Resources, currently produces enough natural gas to power a 45 MW facility and expects to significantly increase that gas production within the next two months when it brings on-stream additional Montney production. ICT is also in discussions with other natural gas producers to work with them on future commercial projects. As a result, ICT is interested in pursuing industrial scale hosting opportunities.

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“First, if the Tether founders, like most early cryptocurrency adopters and exchanges, are long on Bitcoin, they have a large incentive to create an artificial demand for Bitcoin and other cryptocurrencies by ‘printing’ Tether. Similar to the inflationary effect of printing additional money, this can push cryptocurrency prices up. Second, the coordinated supply of Tether creates an opportunity to manipulate cryptocurrencies. When prices are falling, the Tether creators can convert their Tether into Bitcoin in a way that pushes Bitcoin up and then sell some Bitcoin back into dollars to replenish Tether reserves as Bitcoin price rises. Finally, if cryptocurrency prices crash, Tether creators essentially have a put option to default on redeeming Tether, or to potentially experience a ’hack’ where Tether or related dollars disappear. Both the ’pushed’ and ’pulled’ alternatives have different testable implications for flows and cryptocurrency returns that we can take to the powerful blockchain data.”

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Aussie gambling boss James Packer has sold his luxury mansion in Sydney for a record $70 million. An Australian-Chinese businessman, Dr. Chau Chak Wing, is reported to have snapped up the mansion for a record real-estate price …

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“The short will premiere next year at the opening of Melco Crown’s newest movie themed resort Studio City in Macau and be used to support the company’s expansion in Asia and globally,” RatPack Entertainment said in an interview with MailOnline. “This is an unprecedented collaboration because it’s the first time Robert De Niro, Brad Pitt and Leonardo DiCaprio ever worked with Martin Scorsese together in the same film”.

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