Arthur Hayes, BitMEX co-founder and Flop Labs CEO, shared more details on the Flop Network and how its native token could turn AI computing power into a tradable commodity. He proposed measuring the compute delivered for each AI inference task and using transaction data to derive a spot price for compute denominated in FLOP tokens, noting there is no universal benchmark price for AI computing power. BCG projected the AI compute market will reach roughly $2.3 trillion by 2030, up from $360 billion in 2025. The update came two days after Hayes said he had sold his altcoin holdings, and Lookonchain flagged about $22 million in tokens sold by Hayes-linked wallets.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Cointelegraph ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- PrimeXBT Adds Seven Tokenized Stock Crypto Futures, Including Tesla, SpaceX and Nvidia
PrimeXBT has launched Tokenised Stocks, a set of USDT-denominated crypto futures linked to seven listed companies, including Tesla, SpaceX, Nvidia, Apple, Alphabet, Circle and Robinhood, tradable around the clock on its PXTrader 2.0 platform. The contracts are derivatives, not tokenized shares, so holders get price exposure without owning the underlying stock. The broker also added several new crypto futures, bringing its list to more than 170, and crypto CFDs on Monero, Hyperliquid and Zcash. New clients get a higher tier for their first 14 days, cutting taker fees by 33%.
- Bitcoin miners' move into AI is creating a new market for trading computing power
Luxor Technology, best known for bitcoin mining services, raised $16 million in a round led by CMT Digital, with Canaan and MicroBT also investing. The funds will go to its AI hardware brokerage and computing-power trading business as bitcoin miners increasingly move into AI. According to CoinShares, publicly traded bitcoin miners had signed more than $70 billion in AI and high-performance computing contracts by the end of March. Luxor found that most mining sites it assessed had adequate electricity and fiber connections for AI workloads but would need new data centers. The company is also expanding into contracts that let buyers and sellers agree on future computing prices, and in August it launched a price index tracking daily asking prices for Nvidia AI server systems.
- Fox News details evidence Trump fears his agenda is in severe jeopardy
Fox News financial analyst Stuart Varney says Trump's packed rally schedule, including events in Republican-leaning states such as Oklahoma and Alabama, suggests he is worried about turnout and the GOP's hold on Congress. Varney said Fox's power rankings make a Democratic House very likely and the Senate a toss-up. A new Fox poll released Wednesday put Trump's approval at a record low for the network, 36%, with 60% naming cost of living as their top concern, and 54% preferring Democratic candidates versus 45% for Republicans. Democrats lead on 10 of 13 issue concerns, and 7 in 10 voters say they will vote to send a message to Trump. Varney concluded that losing Republican control of Congress would put Trump's agenda in real trouble.
Related markets
Latest news
- TSLA Stock Rises As Cybercabs Overtake Model Ys In Authorized Texas Robotaxi Fleet
Data from the Texas Department of Motor Vehicles shows Tesla's purpose-built Cybercab, a steering-wheel-free robotaxi, has become the majority of its authorized robotaxi fleet in Texas for the first time, with 544 of 1,051 vehicles. Model Y accounts for 507, a shift from early October when the registry showed 319 Cybercabs against 420 Model Ys. The data covers authorization only, not whether vehicles are operating or carrying riders. Cybercabs currently run only in Austin, while Tesla's robotaxis operate in Austin, Houston, Dallas and parts of Florida; Tesla said it is looking to add Cybercabs in Dallas next month. TSLA closed 4% higher on Tuesday but is down 9% year to date.
- Why Brown & Brown Stock Slumped by 5% Today
Brown & Brown's third-quarter revenue was almost $1.73 billion, up more than 7% from a year earlier but below the analyst average of $1.76 billion. GAAP net income rose almost 6% to $240 million, while adjusted earnings per share inched up nearly 2% to $1.07, short of the $1.09 consensus. The company cited a challenging rate environment of softening insurance premiums and said the Accession Risk Management Group acquisition, a $9.8 billion deal in 2025, helped results. Organic revenue, which excludes acquisitions, rose barely over 1% to $1.46 billion, pointing to weakness in the legacy business. The stock closed nearly 5% lower on Tuesday amid a broad investor sell-off.
- Penguin Solutions, Broadcom, FormFactor, Lattice Semiconductor, and AMD stocks trade up, what you need to know
Several chip and AI hardware stocks rose in the afternoon session after Broadcom reportedly secured $63 billion in bank financing to develop proprietary AI chips for Anthropic. Anthropic's IPO filing and Meta's equity offering were seen as signs that tech capital spending remains robust. PENG rose 7.8%, AVGO 3.8%, FORM 5.9%, LSCC 5.2% and AMD 5.3%. The article notes PENG had dropped 9.4% five days earlier after warnings that component shortages and cleanroom constraints would limit chip equipment makers through 2027, citing Lam Research. PENG has had 69 moves greater than 5% over the past year.
- Investing $1,000 in Each of These 3 Stocks 20 Years Ago Would Have Created a Portfolio Worth $674,000 Today
The article calculates that a $1,000 investment in each of Nvidia, Netflix and Amazon 20 years ago would be worth about $674,000 combined as of October 26. Nvidia's stake would be worth about $383,000, with most gains coming in the past couple of years as generative AI took off; the chipmaker's operating profit totaled nearly $200 billion over the past four quarters, its market cap is around $5.3 trillion, and it trades at 28 times trailing earnings. Netflix's stake would be worth more than $161,000, but its stock has fallen this year on concerns about slowing growth and is trading near its 52-week low. Amazon's stake would be worth about $130,000, and its operating income last year reached $80 billion, more than six times the $12 billion of three years earlier; the stock trades at around 20 times trailing earnings. The author argues these growth stocks can still be good buys today.
- Western Digital, Allegro MicroSystems, Amtech, and Teradyne shares skyrocket, what you need to know
Several semiconductor stocks rose sharply in the afternoon session after Broadcom obtained $63 billion in bank financing to develop proprietary AI chips for Anthropic. Alongside Anthropic's IPO filing and Meta's equity offering, the news signaled that tech capital spending remains robust. Among the gainers, Western Digital (WDC) rose 8.1%, Allegro MicroSystems (ALGM) gained 6.4%, Amtech (ASYS) added 5.1% and Teradyne (TER) climbed 5.6%. The article notes WDC has had 79 moves greater than 5% over the past year, and about 22 hours earlier the stock had gained 5.2% after Bank of America projected memory chip supplies would stay tight through 2028. Citing CNBC, the article says semiconductor fabrication equipment spending is projected to exceed $200 billion in 2027, as demand outpaces clean-room capacity and the availability of critical parts.
- Is Benz Mining (TSXV:BZ) Cheap On Icon Drilling Results Or Already Priced In?
Benz Mining (TSXV:BZ) reported extensive drilling results from the Icon gold camp at its Glenburgh Gold Project in Western Australia, confirming repeated stacked high-grade gold lenses. The share price rose 11.03% on the day and 10.47% over the past week, but fell 15.62% over 30 days; it is up 180.38% year to date and returned 205.52% over 12 months. A valuation narrative cited in the article puts fair value at CA$6.28 versus a last close of CA$4.43, implying 29% undervaluation. The article notes the market values Benz above C$1 billion without a current maiden Mineral Resource, and the stock trades at 26.4 times book value versus 2.2 times for the Canadian metals and mining group. Risks include less of the Exploration Target converting into compliant ounces than hoped or weaker project economics in future studies.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.