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Cryptocurrency

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Stocks are off to a mostly lower start on Wall Street Thursday, a day after the S&P 500 and the Dow Jones Industrials approached the record highs they set this summer. The S&P 500 was off 0.2% in the early going, and technology companies were weighing most heavily on the index. IBM slumped 6.5% after reporting quarterly revenue that fell shy of analysts’ forecasts. Among other companies reporting earnings, Tesla rose 1.5% after reporting record profits despite parts shortages and shipping delays, European markets were also lower and Asian markets ended mixed. Crude oil prices fell about 1%.

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An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. One mining operation in central New York came up with a novel solution that has alarmed environmentalists. It uses its own power plant.

BERLIN, El Salvador (AP) — At a geothermal power plant near El Salvador’s Tecapa volcano, 300 computers whir inside a trailer as they make complex mathematical calculations day and night verifying transactions for the cryptocurrency bitcoin.

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Cryptocurrencies are inherently cryptic — it’s right there in the name. And if you follow Warren Buffett’s advice to never invest in businesses you can’t understand, it may be hard to justify investing in a currency made of math instead of gold.

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BRUSSELS (AP) — The Daily Stormer website advocates for the purity of the white race, posts hate-filled, conspiratorial screeds against Blacks, Jews and women and has helped inspire at least three racially motivated murders. It has also made its founder, Andrew Anglin, a millionaire.

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