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Nigerian sets record after 106-hour hand sewing marathon
The Guinness World Records (GWR) has certified Oluwaseun Kuforiji, the Nigerian fashion designer, as the new record holder for the longest sewing marathon.
In a blog post, GWR announced that the fashion designer set the record by handsewing 22 items for 106 hours, 55 minutes.
The “sew-a-thon” attempt, which was held from January 22 to 26 in Ijebu-Ode, Ogun state, aimed to promote craftsmanship and creativity in fashion.
“The longest sewing marathon is 106 hr 55 min 20 sec, and was achieved by Oluwaseun Kuforiji (Nigeria) in Ijebuode, Ogun, Nigeria, from 22 January to 26 January 2025,” the post reads.
“Oluwaseun hopes to promote fashion craftsmanship and inspire creativity in others. He sewed 22 items during his attempt.”
Speaking of the achievement via Instagram, he said the attempt was an “incredible” journey that showcased his perseverance and craftsmanship.
“Officially a Guinness World Record Holder! 106 hours, 55 minutes, and 20 seconds of non-stop sewing needle and thread in hand, passion in my heart,” he wrote.
“From crafting a full Agbada in the first 6 hours to completing 18 outfits, this journey has been nothing short of incredible.
“This is more than just a record; it’s a testament to perseverance, skill, and the power of believing in one’s craft.
“Many thanks to @guinnessworldrecords for the recognition, and to everyone who supported me on this journey. Victory is ours!”
Before this, no one had held the Guinness World Record for the longest sewing marathon.
Kuforiji is not the first Nigerian to attempt this record.
In July 2023, Edmond Peace attempted to set the record in 170 hours but suspended it after a few hours.
In December 2024, Ibikunle Olamide, another fashion designer based in Port Harcourt, attempted to break the record in 100 hours.
[OPINION] Galadima’s Primitive Jive - Wole Olaoye
Alhaji Buba Galadima, an outspoken politician and self-confessed insider of many conspiracies, recently raised an alarm alleging that the current downward trend of food prices was a conspiracy by the Tinubu administration to impoverish the Northern part of Nigeria. Food prices are going down. Many ordinary Nigerians are happy with the development. But people like Galadima see it as an opportunity to sell another of his many fibs about north/south dichotomy.
Many of our politicians would be nothing without the weaponisation of ethnicity and religion. No matter their level of education, the only way many of them can attract any kind of following is when they set brother against brother, tribe against tribe, Imam against pastor. They think it’s all part of the game of politics, whereas, it is the very lives of the people that are at stake. What makes Galadima’s allegation even more tragic is that he has all the education and career attainment to qualify as a beacon of the society but has chosen instead to spread darkness.
A Building Engineering graduate of Ahmadu Bello University, Zaria, Galadima has held many choice public offices in Nigeria. He hails from Gashua, the town in Yobe State made famous when the human rights lawyer, Chief Gani Fawehinmi, was incarcerated there. He worked with the Rivers State government in 1975 and has been a Director of Ajaokuta Steel Company and Director-General of NIMASA. He was the national youth leader of the National Party of Nigeria (NPN) during the Second Republic and national financial secretary of the National Republican Convention (NRC), during the Third Republic.
More recently, he was the national secretary of the Congress for Progressive Change (CPC), which was founded in 2009 and merged, four years later, with the Action Congress of Nigeria (ACN), the All Nigeria Peoples Party (ANPP), a faction of the PDP called the N-PDP, and a faction of the All Progressives Grand Alliance (APGA) to form the All Progressives Congress (APC). He is one of the nine signatories that signed the merger agreement.
By all local standards, Alhaji Galadima has paid his dues in the political arena, even if the public is entitled to ask, what dues, or in aid of what?
Following the presidential election of April 2011, Galadima protested that the vote was rigged and that the CPC would not accept the results until a comprehensive audit had been conducted. INEC had announced that Goodluck Jonathan of the PDP won 22,495,187 votes, while Muhammadu Buhari of the CPC had won just 12,214,853. There were outbreaks of violence across Northern Nigeria after the elections, with many deaths. Buhari and Galadima were accused of orchestrating the killings.
By 2017, Galadima had decamped to PDP and was appointed a spokesperson of the party. On February 24, 2019, twenty-four hours after the 2019 presidential election was conducted, Galadima recklessly announced on his social media handles that the PDP presidential candidate, Atiku Abubakar, had won the elections, even as results were still being collated by the Independent National Electoral Commission. He was later arrested.
While Alhaji Galadima’s eloquence and doggedness are incontrovertible, his style is alarmist and reckless.
A survey of the Nigerian food market revealed that there has been a 40 percent drop in food prices between December 2024 and March 2025. That ought to be cheering news!
What kind of politics is this Galadima brand that expects me to start protesting against the government when food prices are going down? Imagine if the government had not taken timely measures to ensure adequate food supply for the Ramadan season! Is there something else, unknown to the rest of us that is propelling Galadima, the perpetual ‘insider’?
“The government has started massive food importation, and this will make the economy of the North, which depends on agriculture, to dwindle as many won’t be able to farm to gain any meaningful profit”, said Galadima, who is also a farmer. Perhaps what he expects is that since the wave of banditry sweeping through many parts of the country has negatively affected food production, the government should just fold its arms and we should all engage in dry fasting until Galadima harvests his crops next season.
He accused President Tinubu of deliberately causing a sharp fall in food prices to undermine the economy of Northern Nigeria. He alleged that the policy is part of a broader strategy to weaken the North’s economic stability. He was visibly upset that Nigeria’s cost-of-living crisis recently eased for the first time since May 2023, offering an unexpected respite for households.
His claim elicited mixed reactions from Nigerians, many of who accused him of being part of the cabal profiting from the misery of the poor in Nigeria. One social media respondent, Amina Adamu, pointedly accused him of being a hoarder and a shylock merchant.
“Surely, there is a sign that he has hidden food, and by the grace of God, you will see, you will lose more than that”, said Amina. “If the poor will get better, Alhamdulilah! May God break those who play hide and seek.”
There are those who continue to make the academic argument that opening the borders to food imports will discourage local production. However, the answer to the current spate of banditry which has badly affected food production is complete routing of the criminals. Until that is done, Nigerians have to be fed.
In their bid to fully decode the complex persona of this intriguing politician, many Nigerians have zeroed in on his business activities. They draw attention to Suit No. FHC/ABJ/CS/1136/2019 at the Federal High Court sitting in Abuja in which the court ordered AMCON to take over the assets of Bedko Nigeria Limited, one of Galadima’s companies. Bedko Nigeria Limited and Buba Galadima owed AMCON about N900 million. The order, which was granted to AMCON by Justice A.I. Chikere, also gave the government recovery agency the power to take over some properties belonging to the politician, including House No. 15, Addis Ababa Crescent, Wuse Zone 4, Abuja, and House No. 4, Bangui Street, Wuse 2 also in Abuja.
Nigerians, who have watched helplessly over the years as big political camels passed effortlessly through the eye of the needle, swore that Galadima was too big to be forced to pay his debts and that the court’s judgement ceding his company and other assets to AMCON was government’s way of reminding him that he wasn’t as squeaky clean as he wanted the world to be and that his soft underbelly was not unreachable.
Buba Galadima is a journalist’s delight any day and I hope Providence preserves him on this side of the divide for many more years. The fact that, in spite of his wide political experience, he has wrongly predicted the winner of Nigeria’s presidential elections on at least three separate occasions should teach him to sip the waters of humility. He is one politician who can be said to possess a functional brain – which is more than can be said of many of his colleagues.
In a 2015 interview, he boasted: “No politician has ever suffered the kind of calamities I went through in the country. I was arrested, detained and harassed about 38 times.”
In whipping up primitive ethnic sentiments over the reduction of food prices, however, he should tarry awhile to benefit from the counsel of this student of the university of life: Courage is to the brave what recklessness is to the foolish.
[STATE HOUSE PRESS RELEASE] FG Committed To Plateau's Stability, Economic Development - VP Shettima
...Leads FG's delegation on condolence over Sheikh Saidu Hassan Jingir's death
Vice President Kashim Shettima has reaffirmed the Federal Government's unwavering commitment to ensuring lasting peace, stability and economic development in Plateau State and across Nigeria.
Speaking on Saturday in Jos during his condolence visit to the National Chairman, Council of Ulama Jama'atu Izalatul Bid'ah Wa'Ikamatis Sunnah (JIBWIS), Sheikh Sani Yahaya Jingir, the Vice President emphasised the administration's determination to foster national unity and progress.
"President Bola Ahmed Tinubu specifically directed me to convey his heartfelt condolences and to assure the people of Plateau that this administration places high premium on the peace and economic prosperity of this strategic state. We recognise the critical role Plateau plays in our national cohesion and development agenda," VP Shettima said.
The Vice President, who was in Jos to commiserate with Sheikh Jingir over the death of his close associate, Sheikh Saidu Hassan Jingir, commended Plateau State government's peace-building efforts.
"We must acknowledge and applaud the tireless efforts of the state government in maintaining the peace we now enjoy in Plateau. This administration will continue to support these initiatives because without peace, there can be no meaningful development," the VP said.
While offering prayers for the repose of the soul of the late Sheikh Saidu Hassan Jingir, who served as the Deputy National Chairman of the Ulama Council of JIBWIS, the Vice President also prayed for peace, stability, cohesion and progress across the nation.
"I want to assure all Nigerians that better days lie ahead. The economic reforms being implemented by President Bola Ahmed Tinubu are designed with the long-term prosperity of our nation in mind. We are already seeing early positive indicators, and we ask for your continued patience and support," he added.
Earlier in his speech, Sheikh Sani Yahaya Jingir expressed profound gratitude to President Tinubu and Vice President Shettima for their show of compassion during this difficult period.
"This visit demonstrates the human side of governance that often goes unnoticed. We are deeply touched by this gesture," Sheikh Jingir said.
"We are grateful to Allah for the good work President Bola Ahmed Tinubu and Vice President Kashim Shettima are doing for Nigeria. True leadership requires commitment and patience with the people at all times, and this administration has shown both."
The religious leader specifically praised the government's responsiveness to infrastructure needs. "When we requested that the Jos-Saminaka-Kaduna road be fixed, you not only listened but acted swiftly. The Federal Executive Council's approval of N33 billion for the reconstruction of that critical road is evidence of a government that cares for its citizens," he noted.
On the administration's economic policies, Sheikh Jingir was unequivocal in his assessment: "The economic and agricultural initiatives of this government have begun yielding tangible results. We are witnessing a gradual but steady reduction in the prices of essential commodities, particularly foodstuff. This offers hope to ordinary Nigerians and validates the direction of your policies."
The cleric also spoke on the security situation in Plateau State, saying, "I am pleased to inform you that peace has come to stay in our beloved state. The followers of Islam, Christianity and other faiths have collectively resolved to embrace peaceful coexistence as the only path forward."
"This unity of purpose was clearly demonstrated during the funeral of our departed brother, Sheikh Saidu Hassan Jingir, when people from diverse religious backgrounds and all sections of the state gathered in unprecedented numbers to pay their respects. This is the Plateau we want to see and build upon.
"While we mourn our loss, we submit to the will of Allah. Death is inevitable for all mortals, and we find solace in the exemplary life our brother lived," he said.
The Vice President was received at the Yakubu Gowon Airport by the Deputy Governor of Plateau State, Her Excellency, Mrs. Josephine Piyo.
His delegation included the Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia; former Deputy Speaker of the House of Representatives, Rt. Hon. Ahmed Wase; Minister of State for Regional Development, Uba Maigari Ahmadu, and Special Adviser to the President on General Duties (Office of the Vice President), Aliyu Modibbo Umar.
Stanley Nkwocha
Senior Special Assistant to The President on Media & Communications
(Office of The Vice President)
[PRESS RELEASE] First Lady Oluremi Tinubu Emerges Grand Patron For 2025 African Women’s Volleyball Championship
First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu says the Nation has a space for women in all spheres and they can occupy that space with their continued hard work and dedication.
She was speaking during the visit by the management team of the Nigeria Customs Service and the National Sports Commission and others paid her a visit at the State House Abuja.
The visit which was led by the Comptroller General of the NCS Wale Adeniyi was to honour her as the Grand Patron for the 2025 African Women’s Volleyball Championship, scheduled for April, this year.
The First Lady who expressed her appreciation noted that the Nation occupies the pride of place in the sports world due to the relentless efforts of female athletes.
She urged these females who have been made their mark to mentor and be role models to young Nigeria Females with the message of encouragement to them.
She called on female star athletes from Nigeria to come back home and inspire other girls.
“Share not just your stories of successes and achievements but also your humble beginnings”.
“I can see that out of the 4 DCGs here 3 of you are women. And that tells me you have worked, worked, worked and worked. For you to be at the top, you must have worked hard. When you have been given a platform, it is not just about you. Go on and lift others, encourage them”.
Senator Oluremi Tinubu, who according to her guests is fast gaining reputation as a pillar of sports in Nigeria, particularly, where it involves women explained that she is expected to carry yet another torch for women, this time as the Grand Patron for the 2025 African Women’s Club Volleyball Championship, to be hosted by Nigeria, with the Customs Service flying the flag of the nation.
The Comptroller General of Customs, Adewale Adeniyi, while presenting her with the offer said the Service has taken particular notes of her support for female athletes and teams in the country, and will want her inspire the Nigerian team to victory at the championship.
“there is a popular saying that when a woman puts her hand to the plough, the earth itself will respond to her. All your initiatives and generosity are unparalleled and this is a great source of inspiration to us all”.
In his remarks, the Director General of the National Sports Commission Bukola Olapade pointed out with enthusiasm that the vision of President Bola Ahmed Tinubu and the support of the First Lady for Sports has brought in a new vista of life to participants in the sector especially the females.
According to the DG, the Nigerian Girl Child can now truly hold her head up high.
The First Lady, Senator Oluremi Tinubu was then presented with her kits as the Grand Patron of the 2025 Africa Female Volleyball Tournament.
23 other African countries are expected to join the host, Nigeria, at the championship which runs between April 1 and 14.
SIGNED
Busola Kukoyi
SSA Media to the First Lady of the Federal Republic of Nigeria
U.S. government holds $16B in Bitcoin, eyes 1m BTC under new bill
As of March 12, the U.S. government controls 195,234 Bitcoin, valued at more than $16 billion, according to a new Nansen report.
The government’s crypto portfolio also includes $4.6 million worth of Ethereum (ETH), stablecoins such as USDC, and yield-bearing assets DAI and AUSDC_V2.
A newly proposed bill, introduced by Rep. Nick Begich, could dramatically increase the government’s holdings. The House Strategic Bitcoin Bill aims to acquire 1 million BTC, implying roughly 5% of Bitcoin’s total supply, over the next five years. If passed, the dollar value of the purchases at today’s market price would be just shy of $110 billion.
Implications for the Market
If the bill passes, the U.S. government’s Bitcoin holdings would surpass the estimated 1.1 million BTC attributed to Bitcoin’s mysterious creator, Satoshi Nakamoto. This would give the government significant influence over market liquidity and price stability, potentially driving up Bitcoin’s value and reshaping market dynamics.
However, this level of ownership raises concerns about the centralization of a traditionally decentralized asset. Large-scale acquisitions could make the government a price setter in the Bitcoin market which some argue stands against the original ethos of cryptocurrency.
[Crypto News]
Bitcoin bounces to $84k: Is following the crowd a losing strategy?
Bitcoin’s recovery to $84,500 on Friday exemplifies why following crowd sentiment often leads to poor trading decisions.
The recent market movements contradict common predictions during periods of extreme fear or greed.
Data analysis from Santiment reveals that social media reached peak negativity when Bitcoin btc0.01%Bitcoin dipped to $78,000 earlier in the week. There was also online chatter about further declines. This pattern mirrors late February’s market behavior when a temporary price surge in early March followed retail traders’ bearish outlook.
“Bitcoin’s rally back to $84.5K Friday shows what happens when the Monday crowd claims it’s time to sell,” Santiment noted. “Predictably, FUD hit its peak as $BTC was down to $78K, with predictions pouring in for lower prices all across social media.”
The research highlights Bitcoin’s recent stability within a defined range, having neither fallen below $70,000 nor broken above $100,000 over the past month. This stability creates clear sentiment markers: predictions below $70,000 means excessive fear, while forecasts above $100,000 signal overexuberance.
“Historically, markets move the opposite direction of the crowd’s expectations,” Santiment explained. They noted that clusters of bearish predictions ($10K-$69K) often follow upward reversals, while groupings of bullish forecasts ($100K-$159K) usually signal downturns.
Technical analysis supports this sentiment-based approach. Crypto analyst Rekt Capital pointed out that “the signs for a weakening resistance were there.”
He noted that the recent price movement is filling the CME gap between $82,245 and approximately $87,000. He suggests that a daily close above resistance could catalyze further upward momentum.
The current market structure also presents potentially bullish technical signals. Another analyst, Merlijn The Trader, highlighted Bitcoin’s approaching “golden cross.”
This is a technical pattern where the 50-day moving average crosses above the 200-day moving average.
This indicator has historically preceded substantial rallies:
- 139% in 2016
- 2,200% in 2017
- 1,190% in 2020 following previous occurrences.
When sentiment reaches extremes, positions become overcrowded on one side, creating the conditions for sharp reversals. As traders collectively lean bearish, selling pressure exhausts, leaving primarily buyers to influence price action.
At last check, Bitcoin was down 0.2% for the day, trading at $84,145. It’s down 22.7% from its all-time high of $108,786.
[Crypto News]
Polymarket traders see less than 1% chance of Bitcoin reaching $200K
Bitcoin is struggling to break past $85,000 in March, and traders on Polymarket, a Polygon-based prediction market, are betting that a major rally is unlikely.
Data from Polymarket shows that traders see almost no chance of Bitcoin reaching $200,000 by March 31, with the probability sitting at less than one percent.
The most popular bet suggests Bitcoin will remain below $75,000, with nearly 30% of traders backing that outcome. Even a move to $100,000 is seen as unlikely, with only a ten percent chance assigned to that level.
Bitcoin’s consolidation phase
Despite the bearish outlook from Polymarket traders, macro investor Dan Tapiero remains optimistic. Speaking on TheStreet Roundtable with Scott Melker, he said Bitcoin’s recent price action is unfolding exactly as expected.
“I think we’re going to chop up back and forth between $70,000 and $100,000 to digest all this news, and at some point, we’re going to head back up,” Tapiero said. “I’ve had this $180,000 target in mind for a while.”
He believes that the current consolidation phase is healthy for Bitcoin’s long-term growth and that the next major move will push the price toward $180,000, possibly by the end of the year.
While traders on Polymarket remain cautious, Tapiero sees no reason for concern. He pointed out that Bitcoin is still up significantly from 18 months ago, and market cycles take time to play out.
Bitcoin’s current market activity
As of now, Bitcoin is trading at $83,234, up 1% in the past 24 hours. The broader crypto market is also seeing gains, with Ethereum rising 1% to $1,900, and Solana climbing 5% to $132. BNB coin is up 2.47% at $594.06, while Dogecoin has gained 2% to $0.173.
Despite these price movements, overall trading volumes have been declining. February saw a sharp 20% drop in trading activity across centralized exchanges, falling to a four-month low of $7.2 trillion. The decline was largely attributed to macroeconomic concerns, including international trade tensions and tariff threats from the Trump administration.
[The Street]
Wall Street’s largest $3 trillion bank says crypto has 'increased competition'
The Goldman Sachs 2024 annual letter to shareholders devotes a few words to crypto and distributed ledger technology.
According to the report, blockchain, cryptocurrencies, and other digital assets have led to "increased competition" in the financial industry.
The company notes it has exposure to distributed ledger technology via client facilitation, investment and as a third-party vendor only.
The report cites fears of the market and cyber vulnerabilities associated with these technologies.
“[A]lthough the prevalence and scope of applications of distributed ledger technology, cryptocurrency and similar technologies is growing, the technology is nascent and may be vulnerable to cyber attacks or have other inherent weaknesses”, states the letter.
In 2024, the bank was set to initiate tokenization projects to help clients invest in financial assets like real estate and money market using public and private blockchains.
However, this does not mean that the firm is making a major strategic pivot in the direction of cryptocurrencies, the report explains.
In December 2024, CEO David Solomon had suggested that Goldman Sachs would look to participate in Bitcoin and Ethereum markets if the U.S. regulatory landscape changed, stating that current regulations prohibited the bank to trade in cryptocurrency.
He also reiterated his characterization, as of this January, of Bitcoin being an “interesting speculative asset" adding, “I do not think Bitcoin is a threat to the US dollar” in an interview with CNBC back on January 22.
In late 2024, Goldman Sachs raised its holdings in Bitcoin exchange-traded funds (ETFs) by 15%. Based on its most recent 13F disclosure with the Securities and Exchange Commission, Goldman raised its total crypto ETF holdings to $2.05 billion in the fourth quarter of 2024 from the $744 million it held in the third quarter.
With its largest concentration in BlackRock's iShares Bitcoin Trust (IBIT) at $1.2 billion, the bank's Bitcoin ETF holdings $1.6 billion.
[The Street]
Crypto Currents: Binance founder denies report on Trump talks
As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week’s top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly.
BINANCE FOUNDER DENIES REPORT ON TRUMP TALKS: On Thursday, The Wall Street Journal’s Rebecca Ballhaus, Patricia Kowsmann, Angus Berwick, Josh Dawsey and Caitlin Ostroff reported that representatives of President crypto exchange Binance, citing people familiar with the matter. Binance’s billionaire founder, Changpeng Zhao, who served four months in prison after pleading guilty to violating anti-money-laundering requirements, has been pushing for the Trump administration to grant him a pardon, sources added.
Following the report, Changpeng Zhao, the founder of Binance and its ex-CEO, stated in a post to X: “Sorry to disappoint. The WSJ article got the facts wrong. More than 20 people have told me they were asked by the WSJ (and another media), ‘Can you confirm that CZ made some deal for a pardon?’ They probably asked hundreds of people to have 20 people reach out to me. In essence, they tried hard to make a story to report. Fact: I have had no discussions of a Binance US deal with … well, anyone. No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA charge. Feels like the article is motivated as an attack on the President and crypto, and the residual forces of the ‘war on crypto’ from the last administration are still at work. I am always happy to make crypto great everywhere, US and the rest of the world. It’s good to see that even WSJ thinks I should be pardoned.”
COINBASE SECURES REGISTRATION IN INDIA: Coinbase (COIN) announced Tuesday it has registered with India’s Financial Intelligence Unit, which marks a significant milestone in its international expansion strategy. The company plans to launch its initial retail services later this year, followed by additional investment and products in India thereafter. “We’re committed to building in markets that believe in the potential of crypto and onchain innovation,” said John O’Loghlen, Regional Managing Director for APAC at Coinbase. “India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations.”
Additionally on Tuesday, Mizuho lowered the firm’s price target on Coinbase to $217 from $280 and kept a Neutral rating on the shares. The firm said that since its last model update on February 20, the price of bitcoin has fallen from $98,000 to $79,000 and Coinbase shares are down 30%. While some multiple compression is warranted due to lower multiples across technology, the move in Coinbase shares is overdone, the analyst said. Mizuho believes the stock should trade closer to $217. While it sees some upside from here, it remains Neutral given the longer-term risk of pricing pressure from increased competition across the crypto trading space. Mizuho cited lower market multiples for the target cut.
BIT DIGITAL REPORTS FY24 RESULTS: On Friday, Bit Digital (BTBT) reported FY24 earnings per share of 19c on revenue of $108.1M, which compared to a loss per share of (16c) on revenue of $44.9M last year. The company earned 949.9 bitcoins during 2024, a 37% decrease from the prior year, and treasury holdings of BTC and ETH were 741.9 and 27,623.2, respectively, with a fair market value of approximately $69.3M and $92.1M on December 31, respectively.
The company said, “2024 marked a pivotal shift for Bit Digital. Our business was historically driven by digital asset mining, but the successful launch and rapid expansion of our HPC business fundamentally reshaped our company. This evolution drove over 140% revenue growth, with these new business lines contributing nearly half of total revenue. A defining milestone in this transformation was our acquisition of Enovum Data Centers in October. More than just an infrastructure expansion, Enovum provided us with a proven team, operational expertise, and a scalable platform to develop and operate data centers. It also introduced colocation services as a new business line, further diversifying our revenue streams and strengthening our AI compute capabilities. Bitcoin mining remained a key revenue contributor, generating $58.6M, a 32% increase year-over-year. However, as our HPC business scaled, mining’s share of total revenue declined to 54% in 2024, and further to 40% in Q424, compared to 98% in 2023. This shift underscores our strategic pivot toward infrastructure-driven revenue streams while maintaining disciplined mining operations.”
ANALYSTS UPDATES BITCOIN MINER MODELS: On Thursday, JPMorgan downgraded Cipher Mining (CIFR) to Neutral from Overweight without a price target. The firm updated bitcoin miner price targets and models to reflect the Q4 results and changes in bitcoin price and the network hash rate. The firm now sees less upside potential relative to peers for Cipher Mining shares. Cipher could sign a high performance compute deal at its Barber Lake site, which could drive upside, but deals can take up to nine months to negotiate and finalize, the analyst said.
JPMorgan also lowered the firm’s price target on Mara Holdings (MARA) to $18 from $23 and kept a Neutral rating on the shares as well as on CleanSpark (CLSK) to $12 from $17 and kept an Overweight rating on the shares and on Riot Platforms (RIOT) to $13 from $16 and kept an Overweight rating on the shares.
Additionally, the firm upgraded IREN (IREN) to Overweight from Neutral with a price target of $12, down from $15. JPMorgan named IREN its top pick citing the company’s “strong” mining operations and high performance computing “optionality.” The shares have “been overly punished” year-to-date, and offer 70% upside at current levels, which could prove conservative if IREN announces an HPC deal with a name-brand tenant, the analyst said.
HIVE PRICE TARGET LOWERED: Cantor Fitzgerald lowered the firm’s price target on Hive Digital (HIVE) on Tuesday to $8 from $11 and kept an Overweight rating on the shares. Hive said it mined 89 bitcoin during the month of February, or 3.1 bitcoin per day, a decrease from 102 bitcoin mined in January, and its share of the overall bitcoin network decreased to 0.69% from 0.73% on a peak hash rate basis, the analyst said. Cantor continues to believe that current levels represent an attractive risk/reward, as the firm is confident in Hive’s ability to execute on its bitcoin mining and AI Cloud targets, which will represent 300% hash rate growth and $100M in annualized run-rate revenue in 2025, respectively.
CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings, Strategy (MSTR), Riot Platforms, Stronghold Digital Mining (SDIG) and TeraWulf (WULF).
PRICE ACTION: As of time of writing, bitcoin dropped about 6% this week to $83,160 in U.S. dollars, according to CoinDesk.
[Tip Ranks]
If I remarried, I’d have been divorced – Toke Makinwa
Media personality Toke Makinwa has stated that if she had gotten married again, she would have ended up divorced.
She recently spoke about her life as a single and childless woman at 40, stating that she has come to terms with her journey and focused on her accomplishments.
In a recent episode of her podcast, Makinwa admitted that she used to feel pressure about not having a child or a partner at her age, but has since learned to embrace her truth.
Toke, who turned 40 last year, confessed that if she had gotten married again, she would have ended up divorced, citing that the lessons never stop.
Instead of dwelling on what could have been, Makinwa is choosing to focus on her achievements, including building a media empire, being one of Africa’s most influential voices, and enjoying good health.
She said: “I am 40, I am single, and I am childless. I said it, and I didn’t die, and that always made me tear up. I used to feel like, how am I 40 and I don’t have a child? How am I 40 and I single? How am I 40, and I am alone? Listen, if I am completely honest with you guys, if I had gotten married again, I would have been divorced. Because the lessons never stop.
“I am grateful for the journey, I am grateful for where I am at, and I am grateful that I am 40. I look at my life like I am 40 and a boss, have built an empire, am one of the most resounding voices in Africa, have a love of family, and am in great health. I love what I do, and I am not waking up miserable, thinking that I am still here.
“You need to sit with your truth, and when you do so, you can’t shame the shameless”.
[TheNation]