News

The escalation of the Middle East situation has heightened inflation concerns, and expectations of high interest rates from the Federal Reserve are suppressing silver, keeping it in a low-level consolidation.

Foresight News reports that the crypto mining and data center technology company DMG Blockchain Solutions has released its unaudited financial results for the second quarter of fiscal year 2026. The company's revenue for the quarter was 7.3 million CAD (approximately 5.28 million USD), down 35% from the previous quarter. The decline in revenue was due to a decrease in digital currency mining income by 4.9 million CAD (about 3.55 million USD). The company stated that this was mainly caused by both a reduction in digital currency mining volume and a decrease in the average price of digital currencies. In addition, the company mined 69 Bitcoin during the quarter, the same as in the first quarter of 2026, but down 25% from the 91 Bitcoin mined in the second quarter of 2025.

BlockBeats News, May 27th - Piper Sandler's latest report points out that the market's optimistic expectations for a U.S.-Iran agreement lack basis. The Strait of Hormuz may remain largely closed in the coming months, possibly leading to new highs in oil prices this summer. The agency stated that there is little belief that shipping through the strait will recover to pre-war levels in the next few weeks, and they believe the supply shortage will continue to drive up energy prices. Meanwhile, the recent U.S. airstrikes on Iranian targets and Iran's warning that passage through the strait "will come at a cost" further exacerbate market uncertainty. President of S&P Global Platts, Dave Ernsberger, also mentioned that the market is currently "afraid to take on crude oil positions" due to the extreme confusion surrounding the negotiations, strait opening, and potential toll mechanisms. Reports indicate that the market is also concerned about Iran potentially imposing a "passage fee" on oil tankers passing through the Strait of Hormuz in the future. Although Iranian officials deny the existence of a "fee," they emphasize that strait navigation and ecological protection "will come at a cost." Industry insiders estimate that even if an opening agreement is reached in the future, global crude oil transportation returning to normal may take several months or even a year, and market volatility and the risk of high oil prices will persist.