Bitcoin came close to reaching its all-time high of $73,000 this week, generating buzz but ultimately falling short of breaking past the record.

As much as everyone would like to attribute a specific cause, there are no clear answers at this time.

CleanSpark, Inc., a prominent U.S. Bitcoin mining company, completed its acquisition of GRIID Infrastructure Inc. following GRIID shareholders’ approval on October 28, 2024.

This acquisition enables CleanSpark to expand its Bitcoin mining operations significantly in Tennessee, with plans to reach over 400 MW of mining capacity in the state. CEO Zach Bradford emphasized the strategic benefits, including increased power and geographic diversity through the Tennessee Valley Authority service territory, which will enhance operational flexibility. GRIID’s team, already hosting 50 MW of CleanSpark’s mining capacity, will integrate into CleanSpark’s operations.

U.S. Senator Bill Hagerty welcomed the company to Tennessee, praising the state’s business-friendly environment and growth in the Bitcoin industry.

GRIID shares will be delisted from Nasdaq and Cboe Canada as part of the merger.

Jimmy Patronis, Florida’s Chief Financial Officer, wrote a public letter to the State Board of Administration (SBA) about Florida's potential to lead in cryptocurrency investments.

Following recent discussions, such as Former President Trump’s proposal for a national cryptocurrency stockpile and Governor Ron DeSantis’s efforts against Central Bank Digital Currencies, Patronis urges the SBA to explore cryptocurrency as an investment option for state pensions.

Citing other states' initiatives, he suggests a feasibility report on the risks and benefits of allocating a portion of Florida’s retirement funds to digital assets. This report would equip lawmakers with insights for future legislative sessions, ensuring Florida remains at the forefront of financial innovation for its residents.

In conjunction with the Blockchain Association, a DC based blockchain advocacy group, a HarrisX poll found that most Americans agree on the need for digital asset regulation but prefer clear rules over the SEC’s current enforcement-heavy approach.

Many see the SEC as overly aggressive, with two-thirds of voters wanting it to wait for guidance from Congress and three-quarters of crypto owners seeing enforcement as inconsistent.