Bitcoin in Iceland; Trump and Putin meet; Europe fears trade war; U.S. economy

Profitable Moment   Bitcoin thrives on Iceland's energy Today I visited a bitcoin mine called Genesis in Reykjavik, Iceland. A set of buildings in the middle of nowhere house thousands of computers, creating a tremendous amount of noise and heat. All the computers are busy confirming bitcoin block chains - and if successful, receiving bitcoins as payment.   Iceland is perfect for large scale bitcoin mining. Cheap geothermal energy allows thousands of computers to run cost effectively. The cold weather also provides natural cooling!   So much has been written about bitcoin as a crypto currency designed to circumvent laws. It's fascinating to see legitimate businesses operating on behalf of thousands of clients -- all on the back of this unregulated currency.   I have always been a skeptic of bitcoin: I still am. But after today I can see there is a legitimate side to something that is portrayed as unseemly.   -Richard.Quest@cnn.com  What's new... what's next   By Patrick Gillespie of CNNMoney 1. Trump and Putin finally meet at G20  It was scheduled to go for about 40 minutes. But President Trump's meeting with Russian President Vladimir Putin lasted over two hours. They discussed election meddling, North Korea and Syria. Although the meeting centered on those topics, the two nations share some key business and economic ties. Russia owns a sizable chunk of U.S. debt, and U.S. companies like ExxonMobil have operations in Russia. But the two appear to disagree on trade: Earlier in the day Putin said he opposes protectionism. Trump's trade policy could tilt in that direction.  2. Europe 'in battle mood' over Trump tariff threat President Trump's biggest trade decision yet could come next week. Many expect him to slap tariffs on steel imports. European Union leaders worry they'll be included in the measure. And they're putting Trump on notice: "We will react with counter measures within a few days, we do not need two months," European Commission President Jean-Claude Juncker told reporters at the G20 summit in Hamburg on Friday. Needless to say, fears of a trade war are brewing.  3. U.S. economy posts strong job gains in June The U.S. added 222,000 jobs in June, well above expectations. Job gains in May and April were revised up, employees' hours went up and more Americans started looking for work again, especially women. By many indicators, the U.S. economy ended the first half of 2017 on strong footing. But challenges remain ahead: Wage growth is still stuck around 2.5%. The Federal Reserve wants it to rise to 3.5%. Part-time employment is still high too. Overall though, America's labor market is very close to "full employment."  4. Young entrepreneur brings clean energy to Indian villages  When he started his business six years ago, Ankit Mathur wanted to improve the lives of India's 900 million villagers, and do something about the country's filthy air. Mathur and his co-founder are accomplishing both goals now, by changing the way rural Indians cook, one household at a time. Mathur's company, Greenway, sells a stove that uses 65% less fuel than India's traditional stoves.  5. Quick Takes: The opioid epidemic in the United States is hurting its economy  IMF: Germans should retire later in life Tesla loses title as the most valuable U.S. car company  Microsoft is cutting thousands of jobs  6. What's next: Trump steel tariff decision: Stay tuned. Trump and his advisers could make the announcement as soon as Monday. The big questions: How big are the tariffs and against whom?  Amazon Prime Day: Kicks off Monday evening and lasts for 30 hours. Stay tuned for CNNMoney coverage from New York and London.  Make this newsletter better. Please send us your feedback to CNNMoneyfeedback@turner.com Share Tweet Forward Sign up for CNN Money's morning markets newsletter: Before the Bell Sign up for CNN Money's closing markets newsletter: Markets Now Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You're receiving this newsletter because you opted in at cnn.com or cnnmoney.com. Our mailing address is: Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved. One CNN Center Atlanta, GA 30303 Add us to your address book unsubscribe from this list    update subscription preferences