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Brazilian Bitcoin Treasury OranjeBTC Buys Back Stock Instead of BTC

Brazilian Bitcoin treasury OranjeBTC, which began trading publicly on October 7, has suspended its Bitcoin purchases and is repurchasing its own shares instead. This decision follows a significant drop in Bitcoin's price, approximately 13% below its recent all-time high of $126,080. OranjeBTC currently holds 3,708 BTC valued at approximately $408.3 million. The company's buyback strategy aims to enhance shareholder value by reducing the total share supply, particularly as its stock is trading below net asset value. The move has been met with caution from some treasury observers who view it as a way to support stock prices amid declining asset values. OranjeBTC's action coincides with similar trends among companies exploring crypto treasuries, including Brazil's Méliuz, which recently positioned itself as the region's first Bitcoin treasury firm.

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Bitcoin Miner TeraWulf Shares Drop in After Hours Trading, Despite 87% Revenue Gain

Bitcoin miner TeraWulf reported $50.6 million in revenue for the recent quarter, marking an impressive 87% increase year-over-year, attributed to the rising price of Bitcoin and enhanced mining capacity. However, despite this growth, the company's stock fell 2.5% in after-hours trading, although it had previously closed

Bitcoin Miner TeraWulf Shares Drop in After Hours Trading, Despite 87% Revenue Gain

TeraWulf, a Bitcoin mining company based in Maryland, reported a significant revenue increase of 87%, reaching $50.6 million compared to the previous year. This growth was aided by Bitcoin's rising price and an expanded mining capacity. CEO Paul Prager highlighted a growing partnership with Fluidstack and Google,

Bitcoin Miner TeraWulf Shares Drop in After Hours Trading, Despite 87% Revenue Gain

Bitcoin miner TeraWulf reported a significant 87% revenue increase, totaling $50.6 million compared to the previous year, thanks to rising Bitcoin prices and expanded mining capabilities. CEO Paul Prager emphasized the company's strengthening partnership with Fluidstack and Google, as well as a focus on ongoing growth strategies.

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