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The investment was led by Archetype and included contributions from IOSG, Spartan, Amber Group and Big Brain Holdings.

Written by Nonco Trading Desk

NEW YORK (Reuters) -Talen Energy is focused on capturing surging demand from data center developers as the independent power company looks to pivot away from its crypto mining operation, company executives said on Tuesday. Talen is among a group of U.S. electric companies benefiting from the power needs of artificial intelligence and cloud computing data centers, with shares of Talen up nearly 100% since the start of the year. "It's not a strategic asset for us and we are looking at... other alternatives," Talen Energy Chief Executive Officer Mark McFarland said of the crypto mining business on a second-quarter earnings call.

Some users in the Mt. Gox creditors channel on Reddit reported receiving funds on their BitGo accounts.

The world's top crypto is expected to stay volatile ahead of November's election.

While U.S. crypto insiders continue to pound away at a noncommittal Biden administration, a more urgent mission is developing to find out the digital assets views of Vice President Kamala Harris, though her dual life as vice president and presidential candidate may interfere with taking a strong stance.

As the cryptocurrency market stabilizes following a turbulent period, a new analysis cautions against anticipating a significant breakout in the price of Bitcoin until the last quarter of the year. Singapore-based digital asset firm QCP Capital said that the market may remain in a holding pattern for the foreseeable future, even as some encouraging signs emerge. Bitcoin’s overnight recovery to reclaim the $60,000 mark suggests that BTC has managed to stabilize after last week’s sell-off. It tick...