Riot, Core earnings, U.S. jobs report: Crypto Week Ahead

Tech Titans Pivot to AI as Bitcoin Miners Bet on the Next Big Thing

The digital gold rush is evolving. As Bitcoin mining giants like Riot Platforms and Core Scientific prepare to unveil their latest earnings, a seismic shift is underway in the tech world. These industry behemoths, once solely focused on churning out cryptocurrency, are now doubling down on artificial intelligence, leveraging their massive data center infrastructure and power-supply expertise to stake a claim in the AI revolution.

Riot Platforms, the fourth-largest Bitcoin miner by market capitalization, and Core Scientific, ranked sixth, are at the forefront of this transformation. Both companies are using their experience in managing large-scale data operations to expand into AI, a move that could redefine their business models. Core Scientific, whose $9 billion acquisition by CoreWeave fell through in October, has already begun to pivot. A quick glance at its homepage reveals a noticeable de-emphasis on digital asset mining, hinting at a strategic shift toward AI-driven services.

The timing of these earnings reports couldn’t be more critical. As the tech world watches closely, the question on everyone’s mind is: how much of their revenue still comes from Bitcoin mining? The answer could signal a broader trend in the industry, as companies seek to diversify in the face of fluctuating crypto markets and the allure of AI’s potential.

But the tech landscape isn’t the only thing heating up. The global economy is also under the microscope, with the U.S. jobs report for February set to drop this week. Economists forecast the addition of 60,000 nonfarm positions, a figure that could sway market sentiment and influence tech investments. Meanwhile, geopolitical tensions are adding another layer of complexity. The ongoing conflict in the Middle East, marked by U.S. and Israeli strikes on Iran’s missile, naval, and nuclear infrastructure, has sent shockwaves through global markets. President Donald Trump’s declaration of “major combat operations” has raised concerns about the conflict’s duration and its impact on risk appetite.

As the world grapples with these challenges, the tech sector continues to innovate at breakneck speed. From the launch of new crypto apps to the deployment of groundbreaking AI models, the industry is buzzing with activity. Here’s a closer look at what’s on the horizon:

What to Watch This Week

Crypto Highlights:

• March 2: SuperRare is set to release Delirium, a new collection by artist Xer0x, pushing the boundaries of digital art.
• March 2: Mantra’s OM token undergoes a transformation, changing to MANTRA with a 1:4 coin split as the Mantra chain upgrades from v6 to v7.
• March 3: SolCex debuts its mobile app on Google Play and Apple’s App Store, making crypto trading more accessible than ever.
• March 4: Qubic begins testing parallel Dogecoin mining and AI training, blending two of the hottest trends in tech.

Macroeconomic Updates:

• March 2, 10:00 a.m.: U.S. ISM manufacturing PMI for February, with estimates at 52.3 (previous: 52.6).
• March 3, 5:00 a.m.: Eurozone inflation rate YoY flash for February, with core inflation at 2.2%.
• March 3, 7:30 p.m.: Australia’s GDP growth rate QoQ for Q4, estimated at 0.4%.
• March 3, 8:30 p.m.: China’s NBS manufacturing PMI for February, with a previous reading of 49.3.
• March 4, 8:15 a.m.: U.S. ADP employment change for February, estimated at 22K.
• March 4, 10:00 a.m.: U.S. ISM services PMI for February, with a previous reading of 53.8.
• March 4, 2:00 p.m.: U.S. Fed Beige Book, offering insights into economic conditions.
• March 5, 8:30 a.m.: U.S. initial jobless claims for the week ending Feb. 28, with a previous reading of 212K.
• March 5, 8:30 a.m.: U.S. nonfarm productivity QoQ prelim for Q4, with a previous reading of 4.9%.
• March 5, 4:30 p.m.: U.S. Fed balance sheet update for the period ending March 4.
• March 6, 8:30 a.m.: U.S. nonfarm payrolls for February, estimated at 60K (previous: 130K).
• March 6, 8:30 a.m.: U.S. unemployment rate for February, with a previous reading of 4.3%.
• March 6, 8:30 a.m.: U.S. average hourly earnings MoM for February, with a previous reading of 0.4%.
• March 6, 8:30 a.m.: U.S. retail sales control group MoM for January, with a previous reading of 0.0%.
• March 8, 8:30 p.m.: China’s inflation rate YoY for February, with a previous reading of 0.2%.

Earnings Reports to Watch:

• March 2: Riot Platforms (RIOT), post-market, estimated earnings of -$0.32.
• March 2: Core Scientific (CORZ), post-market, estimated earnings of -$0.18.
• March 6: Metalpha (MATH), pre-market.
• March 9: Sharplink (SBET), pre-market, estimated earnings of $0.31.
• March 11: Exodus Movement (EXOD), pre-market, estimated earnings of $0.14.

Token Events and Governance Votes:
The crypto world is abuzz with governance votes and token unlocks. PoolTogether DAO is voting to manually resubmit and execute the remaining actions for the PTBR-35 governance shutdown. Angle DAO is voting on an orderly wind-down of the EURA and USDA stablecoins, providing users a one-year 1:1 redemption period. GMX DAO is voting to transition to a defined leadership model, while ShapeShift DAO is appointing a new Tokenomics Workstream Leader. Decentraland DAO is exploring automatic execution of approved proposals, and Uniswap DAO is voting on expanding protocol fees to eight layer-2 networks. ENS DAO is voting to replace three DNSSEC oracle algorithms, and Gnosis DAO is voting to provide a grant to fund the continued support of the Revoke.cash security platform.

Token Unlocks:

• March 5: Ethena (ENA) to unlock 2.24% of its circulating supply, worth $18.35 million.
• March 6: Hyperliquid (HYPE) to unlock 2.72% of its circulating supply, worth around $288.77 million.

Token Launches:

• March 8 or earlier: Chiliz (CHZ) to deploy revenue from the protocol to buyback and burn CHZ tokens.
• March 8 or earlier: WhiteBit Token (WBT) to be listed on Kraken.

As the tech world continues to evolve, one thing is clear: the future is being shaped by those who dare to innovate. Whether it’s Bitcoin miners pivoting to AI or new tokens making their debut, the pace of change is relentless. Stay tuned as we bring you the latest updates from the front lines of technology.

Tags: #TechTrends #AIInnovation #BitcoinMining #EarningsSeason #CryptoRevolution #DataCenters #MarketWatch #GeopoliticalTensions #FutureOfTech #DigitalTransformation #TokenUnlocks #GovernanceVotes #TechEarnings #AIandCrypto #MarketInsights #TechNews #InnovationUnleashed #CryptoApps #BlockchainRevolution #TechEcosystem

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