Americans are moving houses and switching jobs at record-low rates, a trend straining families, stalling careers, and weighing on the economy, report Konrad Putzier and Rachel Louise Ensign in the Wall Street Journal. U.S. mobility fell to 7.8% in 2023, the lowest since Census tracking began in 1948, while job-switching has declined steadily since the 1990s. High housing costs and “golden handcuffs,” such as low mortgage rates and deferred stock packages, are discouraging relocation. “The golden handcuffs right now in the market are tighter than ever,” said recruiter Mark Saltrelli. Economists warn the freeze curbs productivity, income growth, and GDP. Young graduates face delayed career starts, with underemployment often persisting for decades. While remote work offers some relief, economists like Chicago’s Chang-Tai Hsieh caution the current erosion of geographic and economic dynamism could limit America’s long-term competitiveness.
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Galaxy Digital has secured a $1.4 billion loan arranged by Deutsche Bank to finance the conversion of its Helios bitcoin mine in Texas into a high-performance computing (HPC) hub for artificial intelligence, according to an SEC filing. The debt, structured as a senior secured term loan maturing in 2028, and carries an effective rate of about 9.1% reflecting investor caution toward capital-heavy AI infrastructure. Galaxy added $350 million in equity, with the loan covering remaining construction costs. The facility is secured solely by Helios assets, protecting Galaxy’s broader business, though covenants mandate disciplined cash flow management. CoreWeave, a fast-rising AI cloud provider, has leased the site’s full 800 megawatts of power capacity, with contracts projected to yield over $1 billion in annual revenue. Once among North America’s largest bitcoin mines, Helios now illustrates how digital asset infrastructure is adapting to surging AI demand.
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Treasury Secretary Scott Bessent’s claim that the U.S. Government holds $15–20 billion worth of bitcoin (about 120,000 to 170,000 BTC) has sparked confusion, reports L0la L33tz for The Rage. A FOIA request revealed the U.S. Marshals Service controls just under 29,000 BTC, far short of Bessent’s figure. Analysts point to major seizures, including 40,000 BTC tied to Silk Road prosecutions and roughly 95,000 BTC from the Bitfinex hack, but much of this remains seized rather than forfeited and is subject to ongoing legal proceedings. Blockchain intelligence firm Arkham estimates U.S. holdings at around $24 billion, while Bitcoin Treasuries suggests ~200,000 BTC. The lack of clarity underscores the absence of an official audit, despite President Trump’s March order for agencies to report digital asset holdings. “I’m alarmed,” said Senator Cynthia Lummis, citing uncertainty over whether reserves have been sold or misclassified.
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In Europe, rising energy costs and unstable grids are pushing innovators toward Bitcoin-powered heating, reports Joakim Book. Austrian engineer Maximilian Obwexer founded 21energy to build home “Bitcoin heaters” that double as radiators, quietly delivering up to 42 TH/s while warming households. Speaking at the inaugural BTCHel conference in Helsinki, Obwexer called the devices “decentralized grid balancing, at home!” and highlighted their role in absorbing excess renewable energy that grids often waste. Demand is growing among solar users and climate-conscious homeowners seeking cost-effective, fossil-free heat. Beyond homes, 21energy plans to scale into grid-level load balancing, deploying mobile miners to stabilize hydropower output. As Europe struggles with energy dependence and volatile prices, Bitcoin mining’s dual function as heat source and flexible energy sink is gaining traction. “It’s a no-brainer—even if you don’t like or understand Bitcoin,” Obwexer said.
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