EIA Ramps Up Monitoring of Crypto Miners' Energy Use

Hi NoRamp Community,

Daily News:

1) Bybit Provides NFT Ticket Marketplace For Virtual Concert

2) EIA Ramps Up Monitoring of Crypto Miners' Energy Use

3) Kriya Secures $64 Million Debt Facility to Scale B2B Payments

4) Metronome Raises $43M in Fresh Capital

5) Blackhawk Network to Acquire RaaS Platform Tango Card

Bybit Provides NFT Ticket Marketplace For Virtual Concert:

• Bybit is partnering with Hape2.0-LightCycle, the official partner for Robbie Williams’ 25th Anniversary Virtual Concert, to become the Official NFT Marketplace Partner. This collaboration will involve Bybit Web3 hosting the sale of tickets and collectibles for “Robbie Williams Beyond Reality in LightCycle – A Virtual Music Experience.”

• The partnership is heralded as setting a new standard in the entertainment industry by merging entertainment with blockchain technology. It introduces three Web3 innovations: combining memorabilia, concert tickets, and metaverse passports into a single offering, providing an exclusive gateway for fans to access the concert, and simplifying the purchase process for both Web3 and Web2 fans.

• Fans will have the opportunity to purchase tickets through Bybit NFT Pro, with the chance to win tickets and signed merchandise from Robbie Williams through social giveaways, enhancing the overall user experience and access to the event.

EIA Ramps Up Monitoring of Crypto Miners' Energy Use:

• The U.S. Energy Information Administration (EIA) is set to survey the electricity consumption of cryptocurrency mining companies in the U.S., focusing on those using proof of work mechanisms like Bitcoin and Dogecoin. Initiated by an emergency data request from the Office of Management and Budget (OMB), the survey aims to understand the energy demands of crypto mining, including identifying growth areas and electricity sources used.

• EIA Administrator Joe DeCarolis emphasized the agency's intent to explore the energy impact of U.S. crypto mining activities further, considering the sector's evolving energy needs. This move is part of a broader effort to grasp the environmental implications of crypto mining amid debates over its significant energy consumption.

• The survey responds to critiques about the environmental impact of crypto mining, particularly its high energy use. Despite criticisms, some argue that crypto mining optimizes the use of surplus green energy and can aid in energy grid decarbonization. Recent updates from the University of Cambridge suggest that prior assessments of Bitcoin mining's energy consumption may have been too high, underscoring the ongoing discussion on the environmental effects of cryptocurrency mining.

Kriya Secures $64 Million Debt Facility to Scale B2B Payments:

• Kriya, a FinTech in London, secured a £50 million debt facility to boost its B2B payments, targeting £1 billion in transactions over two years in the UK. This enables enhanced PayNow and PayLater options for B2B retailers and marketplaces, offering flexible payment terms and supporting transactions in multiple currencies across 45 markets.

• Provided by Viola Credit, the funding supports Kriya's 12-year history in the B2B payment and credit market, focusing on invoice financing, business loans, and credit lines for merchants. This effort aims to digitize traditional wholesalers' operations, moving from offline to online.

• Kriya's recent partnership with Mangopay further streamlines the B2B checkout experience, offering seamless transactions, flexible payment options, and risk-free upfront payments to facilitate digital transformation in the B2B sector.

Metronome Raises $43M in Fresh Capital:

• Metronome raised $43 million in Series B funding led by NEA, bringing its total to over $78 million since 2019. The company, which aids software firms in implementing usage-based billing, reported a 6x ARR increase last year, attracting clients like OpenAI and Nvidia. Metronome's platform reduces the engineering work needed for billing integration, making it especially attractive to AI companies facing usage-based costs.

• The funding will be used for product development and expanding its team, aiming to support its rapid growth and the increasing demand from enterprises moving towards usage-based revenue models. NEA partner Hilarie Koplow-McAdams has joined the board, emphasizing Metronome's impact on simplifying billing systems for companies.

Blackhawk Network to Acquire RaaS Platform Tango Card:

• Blackhawk Network (BHN) has agreed to acquire the Rewards-as-a-Service (RaaS) platform, Tango Card, enhancing its digital rewards and incentives offerings. The financial terms of the acquisition, expected to close later this year, were not disclosed.

• Seattle-based Tango Card, founded in 2009, offers B2B companies a means to distribute gift cards, prepaid cards, and incentives through its API-based platform. The acquisition aims to integrate Tango Card's technology with BHN's rewards management platform, building on a pre-existing relationship where BHN was an early investor in Tango Card.

• David Leeds, Tango's founder and CEO, sees the acquisition as a significant opportunity for growth and service improvement. Talbott Roche, BHN's CEO, views Tango’s services as an ideal addition to their global product portfolio, aiming to provide scalable and innovative solutions to the rewards and incentives industry.

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