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BTOG

Bit Origin has secured a $6.74 million investment for constructing a new 25 MW crypto mining data center in Cheyenne, Wyoming. The company expects the data center to be completed by early Q2 2024 and to house between 4,480 to 8,400 bitcoin miners. This expansion is anticipated to significantly boost Bit Origin's revenue and cash flow starting in the second half of 2024. Additionally, Bit Origin has entered into a securities purchase agreement to sell up to $24.74 million of convertible notes and warrants to ATW Digital Assets Opportunity.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:10 pm

INAB

IN8bio, Inc. has entered into a purchase agreement with certain investors for a private placement to raise up to $46.9 million. The company plans to use the proceeds to advance its clinical programs, including trials for its drug candidates in patients with leukemia and solid tumors.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:05 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) stock is trading lower due to a decline in Bitcoin's price after a recent surge. Bitcoin's pullback is attributed to profit-taking following a 13% rally over the past week and a 150% increase year-to-date. The broader crypto market's rally has been driven by institutional interest and expectations of a potential Bitcoin ETF and a pause in Federal Reserve rate hikes. Despite the drop, Coinbase shares are still up 60% over the last month.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 1:58 pm

AMD

BIDU

NVDA

TCEHY

TSM

Chinese companies, including Tencent Holdings Ltd (TCEHY) and Huawei, are promoting their AI chips as alternatives to Nvidia Corp's (NVDA) products amid U.S. export restrictions. Nvidia holds a dominant position in China's AI chip market, but these restrictions have opened opportunities for companies like Hygon Information Technology and Iluvatar CoreX. Tencent is also offering its Zixiao chips through its cloud services, which include options from Nvidia and Advanced Micro Devices, Inc (AMD). Baidu Inc (BIDU) and other Chinese tech firms are seeking domestic AI chip sources, while Taiwan Semiconductor Manufacturing Company Ltd (TSM) faces U.S. curbs on working with Chinese firms. Nvidia's stock saw a slight increase in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 1:56 pm

BONKUSD

DOGEUSD

SHIBUSD

BONK, a meme coin associated with Solana, has surged 5700% since the start of the year, outperforming other meme cryptocurrencies like Dogecoin and Shiba Inu. However, a crypto analyst named Ali has indicated that BONK is showing a sell signal on the TD Sequential indicator, suggesting a potential correction period of one to four weeks. BONK recently hit an all-time high of $0.000011, and KuCoin has introduced a BONK/USDT trading pair. Currently, BONK is trading at $0.000011, down 3.21% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

December 11, 2023 | 1:00 pm

BFH

Bread Financial announced its intention to offer $500 million in aggregate principal amount of senior notes through a private offering. This move is aimed at raising capital, potentially for corporate expenses, growth initiatives, or debt refinancing. The offering is private, which means it will not be open to the public and will be available only to qualified institutional buyers.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:59 pm

AMAT

ASML

GFS

IBM

WOLF

New York State is investing $10 billion to create a semiconductor research facility at the University at Albany, in collaboration with NY Creates and major chip companies. The facility will feature advanced equipment from ASML Holding NV and involve key industry players like IBM, Micron Technology, Applied Materials, and Tokyo Electron. The project aims to make New York a significant research hub, create 700 jobs, attract $9 billion in private investment, and reduce reliance on foreign chip technologies. GlobalFoundries, ON Semiconductor, and Wolfspeed also have existing facilities in New York, with Micron planning a new factory near Syracuse.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 12:57 pm

CYH

Community Health Systems (CYH) has announced an offering of $750 million in Senior Secured Notes due 2032. This move is aimed at raising capital, potentially for debt refinancing, growth initiatives, or other corporate purposes. The offering could impact the company's debt profile and interest expenses.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:42 pm

GOLD

The US Bureau of Land Management has approved Nevada Gold Mines' Plan of Operations for the new Goldrush Underground Mine. The mine, expected to start production in 2024, is forecasted to produce 130,000 ounces of gold in its first year and reach approximately 400,000 ounces annually by 2028.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:03 pm

OXY

Occidental Petroleum Corporation (OXY) is set to acquire CrownRock for $12 billion, aiming to bolster its US onshore portfolio with high-quality assets in the Permian Basin. This strategic move is expected to enhance Occidental's production capabilities and reserves in one of the most prolific oil-producing regions in the United States.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:02 pm