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Good morning, Coin Discoverers!

CRYPTO

• BTC: $70,866.60 (+0.46%) YTD (+60.43%)

• ETH: $3,807.82(+0.03%) YTD (+61.84%)

• BNB: $701.73 (+2.33%) YTD (+123.55%)

*Crypto numbers as of 5:00 am EST on June 5th

TeraWulf Skyrockets: 186 Bitcoin Mined

TeraWulf's stock surged on Tuesday after the mining firm released its May production update, marking the first full month since the latest Bitcoin halving event.

In May, the company mined 186 bitcoins, averaging around 6.0 bitcoins per day.

TeraWulf reported its installed and operational self-mining capacity reached around 8.0 EH/s, an 82% increase year-over-year. In May, the company averaged $31,239 per self-mined bitcoin, with a cost of approximately $0.039/kWh.

Bitcoin Hits $71K Amid Volatility

Bitcoin short liquidations surged past $20 million in the last 24 hours, briefly pushing the largest digital asset by market cap to $71,000. Bitcoin is now trading at approximately $70,700, marking a 3% increase in the past 24 hours.

Bitcoin’s price surge in the past day led to $27 million in liquidated positions, with the broader cryptocurrency market experiencing over $87 million in liquidations. Coinglass data shows that the majority of these liquidations, about $50 million, were short positions.

Fhenix raises $15M for confidential Ethereum Layer 2

Fhenix, a pioneering developer in the Ethereum Layer 2 space with a strong emphasis on ensuring data confidentiality, has secured $15 million in funding through a successful Series A round.

Fhenix is constructing a Layer 2 network on Ethereum with a primary focus on ensuring the confidentiality of data.

Fresh all-time-high

During the late hours on Tuesday, the price of BNB soared to establish a new all-time high.

The token has surged over 11% in the last 24 hours, hitting an all-time high of $701 as of the current moment.

BNB serves as the native token within the BNB Chain ecosystem. Its previous peak occurred in May 2021, reaching a fleeting value of approximately $690.

STOCKS

• DOW: 38,711.29 (+0.36%)

• S&P: 5,291.34 (+0.15%)

• NASDAQ: 16,857.05 (+0.17%)

*Stock numbers as of market close on June 5th

Tesla Doubles Down on AI: $4 Billion Boost for Nvidia Hardware

Elon Musk, CEO of Tesla, indicated in a Tuesday post on X that the company is expected to invest between $3 billion and $4 billion in acquiring hardware from chip company Nvidia this year.

Musk also indicated that of the $10 billion allocated for artificial intelligence-related capital expenditure this year, approximately half will be spent internally.

Apollo Pours $11 Billion into Intel's Chip Manufacturing Future

Apollo Global Management has announced its acquisition of a 49% equity stake in a joint venture connected to Intel's new manufacturing facility in Ireland for $11 billion, as disclosed by the companies on Tuesday.

Apollo will secure its stake in the Fab 34 joint venture located in Leixlip, Ireland, which marks the U.S. chipmaker's inaugural high-volume site for its Intel 4 manufacturing process, employing extreme ultraviolet lithography machines.

REAL ESTATE

• 15-year: 6.62%

• 30-year: 7.07%

*Mortage rates via Mortgage News Daily

Starter home can be a forever home

In the past, a "starter home" served as a pathway to upscale residences.

Currently, many individuals find themselves immobilized, as the "rate-lock effect" prevents owners from moving after purchasing their initial homes years ago.

Put simply, they bought their homes during a period of historically low interest rates. Consequently, upgrading would entail a substantial increase, possibly doubling or even tripling, their monthly interest payments.

TECH

Build Your Own Brainiac: Raspberry Pi Unleashes $70 AI Power

Raspberry Pi, the micro-computer developer, announced on Tuesday that it is integrating artificial intelligence capabilities into its newest motherboard model, according to the Raspberry Pi Foundation

In partnership with Hailo, the Raspberry Pi Foundation has introduced the Raspberry Pi AI Kit, priced at $70, designed to enhance the Raspberry Pi 5 with AI capabilities. This upgrade enables the compact computer to execute various AI tasks such as chatbots, object recognition

QUICK RECAP 

#1. Australian Economy Stutters in Q1, Growth Barely Reaches 0.1%

#2. Japan's Real Wages Continue Recovery Trend Despite 25 Months of Decline

#3. TSX Sees Sixth Day of Decline as Resource Stocks Weaken.

#4. Nium secures $50M, led by a Southeast Asian sovereign fund, valuing at $1.4B.

#5. Brent crude nears $77.56, WTI at $73.25, amid OPEC+ supply boost.