Nvidia's financial forecast is optimistic due to the increasing demand for hardware to power the AI revolution. This news caused the company's stock price to soar and may encourage more mining companies to diversify into AI applications.

Energy Web, a non-profit organization, has launched a free sustainability registry for bitcoin miners called Green Proofs of Bitcoin (GP4BTC). The registry will score miners on two metrics that take into account the mix of energy they use: their purchases of renewable energy credits (RECs) and their participation in demand response programs.

Bitcoin miners are moving their assets, which could lead to more selling pressure if they are liquidated. On-chain analytics platform CryptoQuant reported a decrease in Bitcoin miner reserves, indicating selling pressure from the miners' side.

The Biden administration's proposal to tax American bitcoin miners is likely to drive them out of the country and will not raise the intended funds, according to Marathon Digital's CEO, Fred Thiel. He believes that a mining tax would not result in more available renewable power and would actually create less. Thiel also stated that the banking lobby and gas-fired power plants are hostile towards the crypto industry and bitcoin mining, respectively. Marathon is already looking to expand outside of the US, with new projects in Abu Dhabi and Paraguay. Despite a period of financial stress and consolidation in the bitcoin mining sector, Thiel is optimistic about the future.

On Thursday, the global digital asset market cap increased by 2% to reach $1.14 trillion. Bitcoin, the largest cryptocurrency, saw a surge of almost 3% in its price over the past day. However, data suggests that miners may be selling some of their holdings on crypto exchanges, as a wallet address deposited $48 million worth of BTC to Binance.

In the past 24 hours, the cryptocurrency market saw a net outflow of $17.6 billion, leading to a decrease in the total market cap to $1.13 trillion, down 1.5% from $1.14 trillion. Bitcoin and Ethereum market caps both fell, while TRON and Litecoin were the only assets in the top 10 to post gains.

Yesterday, a large whale withdrew 26,000 Bitcoin from Coinbase, resulting in roughly $800 million worth of Bitcoin being taken off exchanges.

Bitcoin miners have been selling their reserves recently, which could have a bearish impact on the cryptocurrency's price. The "miner reserve" metric, which measures the total amount of Bitcoin in miners' wallets, has been decreasing over the last few days.

Despite concerns over high fees and network congestion caused by the use of Ordinals, Bitcoin miners are currently experiencing record daily revenue of up to $40 million, according to Glassnode data. The demand for Ordinals, which allows digital assets to be inscribed on the Bitcoin blockchain, is driving up blockchain activity and therefore the need for miners to validate transactions.

The popularity of Ordinals has caused chaos in the Bitcoin ecosystem, resulting in skyrocketing transaction fees and network congestion. However, this development has been a blessing in disguise for Bitcoin miners, who earned a total of $17.75 million in revenues on May 8th due to the surge in fees. The increase in Ordinals transactions has also led to a doubling of daily inscriptions in just ten days, with text-type ordinals taking over their image counterpart in market share. While not all Bitcoin advocates are happy with the success of Ordinals, MicroStrategy co-founder Michael Saylor believes it could be a catalyst for Bitcoin's adoption.