CleanSpark shares retreat after bitcoin miner announces pivot to AI computing: CNBC Crypto World

Market Overview - Bitcoin and Ether are experiencing a recovery, with Bitcoin surpassing $113,000 and Ether trading at $483, while XRP rose to $252 [2] - The overall market is rebounding from a recent sell-off in October [1] CleanSpark's Business Shift - CleanSpark announced a pivot from pure Bitcoin mining to incorporating high-performance computing, reflecting a broader trend in the industry due to shrinking mining rewards and rising energy costs [3][4] - Despite the positive news, CleanSpark's stock is down approximately 2.5% [2] Duro Labs and Pith Network Initiatives - Duro Labs, a contributor to the Pith Network, is focused on bringing more financial and economic data on-chain, addressing the growing need for reliable on-chain data as crypto adoption increases [4][6] - Pith Network is enhancing decentralized finance (DeFi) by providing real-time first-party financial data directly on-chain, which is crucial for the functioning of DeFi markets [6][8] Data Accessibility and Market Disruption - The traditional market data industry is valued at $50 billion, dominated by legacy vendors like Bloomberg and Refinitiv, which are seen as slow and expensive [9][10] - Pith Network aims to disrupt this model by offering more accessible and transparent data, enabling a more level playing field for global market participants [11][19] Recent Partnerships - Pith Network has partnered with Koshi to deliver real-time prediction market data on-chain, expanding its offerings beyond asset prices to include event data [14][15] - A partnership with the Department of Commerce aims to bring economic data on-chain, enhancing data transparency and accessibility for the public sector [16][17] Future Vision - Pith Network envisions creating a comprehensive global financial data network that provides real-time institutional-grade data, facilitating innovation in financial products [25][26] - The goal is to establish a single source of truth for all financial data, which could transform the financial industry and support the growth of DeFi [27]