The wire
Short, fast updates from across China’s AI industry — compute, mining, and physical AI, as they land.
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TD Cowen Gives Stablecoin Yield Ban 10% Odds as Banks Plan Push in Democrat-Led Congress
Bitcoin Magazine TD Cowen Gives Stablecoin Yield Ban 10% Odds as Banks Plan Push in Democrat-Led Congress TD Cowen's Jaret Seiberg puts only a 10% chance on a congressional ban on platform stablecoin yield over the next two years, even as b…
North Korea Is Minting Its Own Meme Coins to Launder Binance Hack Loot
Bitcoin Magazine North Korea Is Minting Its Own Meme Coins to Launder Binance Hack Loot Elliptic says North Korean launderers created six throwaway meme tokens on NEAR between Nov. 5 and 7, moving about $430,000 of stolen Binance funds thro…
U.S. Regulators Drop $250 Travel Rule Plan, Crypto Language Too
Bitcoin Magazine U.S. Regulators Drop $250 Travel Rule Plan, Crypto Language Too FinCEN and the Federal Reserve formally withdrew a 2020 proposal that would have cut the cross-border funds-transfer threshold from $3,000 to $250 and spelled…
Binance to Close Accounts in Four EU Countries Dec. 31, Charging Idle Balances From Nov. 29
Bitcoin Magazine Binance to Close Accounts in Four EU Countries Dec. 31, Charging Idle Balances From Nov. 29 Binance told users in France, Spain, Italy and Poland to withdraw their crypto, with deposits blocked, accounts closing Dec. 31 and…
BlackRock: Security Fears Are Driving Bitcoin Whales Into IBIT
Bitcoin Magazine BlackRock: Security Fears Are Driving Bitcoin Whales Into IBIT BlackRock's Robbie Mitchnick told Barron's demand to swap directly held bitcoin for IBIT shares is at its highest yet, with "security and peace of mind" the top…
Strategy (MSTR) Adds 1,036 Bitcoin for $81.9 Million as Holdings Slip Below Cost
Bitcoin Magazine Strategy (MSTR) Adds 1,036 Bitcoin for $81.9 Million as Holdings Slip Below Cost Strategy bought 1,036 bitcoin last week for $81.9 million at an average of $79,012, lifting its stack to 850,364 BTC. This post Strategy (MSTR…
Bitcoin Price Drops Below $74,000 as Nvidia Probe and Regulation Fears Spark $1 Billion in Liquidations
Bitcoin Magazine Bitcoin Price Drops Below $74,000 as Nvidia Probe and Regulation Fears Spark $1 Billion in Liquidations Bitcoin price fell to $73,477 overnight, its lowest since August, before bouncing to about $74,700 Monday morning as a…
Coinbase Wins Full Federal Trust Charter From OCC
Bitcoin Magazine Coinbase Wins Full Federal Trust Charter From OCC Coinbase's custody arm has completed its national trust bank charter with the OCC, upgrading April's conditional approval, but the license does not let it take deposits, mak…
Strive (ASST) Adds 29 Bitcoin for $2.2 Million as Weekly Buys Slow After Crossing 43,000
Bitcoin Magazine Strive (ASST) Adds 29 Bitcoin for $2.2 Million as Weekly Buys Slow After Crossing 43,000 Strive purchased 29 bitcoin from Oct. 31 to Nov. 6 at an average of $75,721, lifting holdings to 43,153 BTC while cash slipped to $487…
Kraken’s Dave Ripley: “That Was the Bear Market” and Bitcoin Is “On Our Way Out of It”
▶ Bitcoin Magazine Kraken’s Dave Ripley: “That Was the Bear Market” and Bitcoin Is “On Our Way Out of It” Kraken’s Dave Ripley explains why Bitcoin’s rebound past $80K hints the bear market is over, marking the softest macro pullback in the…
Britain's tech ambitions depend on minerals made in China, MPs warn
Committee can't confidently tick off any of government's ten supply security tests, with alternatives a decade away
American Bitcoin’s $126M profit masks mining pressure as rivals turn to AI
The Eric Trump-backed miner reported $126 million in quarterly net income, largely driven by gains on its Bitcoin holdings, despite rising mining costs and shrinking margins.
Luxor raises $16M from CMT Digital amid AI-Bitcoin miner convergence
Luxor aims to use the proceeds to scale its existing AI infrastructure business and expand its GPU sourcing services as global chip supply chains become constrained.
CleanSpark shares slide after reporting $378M fiscal second quarter loss
CleanSpark posted a $378.3 million net loss in its fiscal second-quarter results, more than double the prior year, with nearly 60% tied to Bitcoin price declines.
Bitcoin miner Canaan posts $88.7M net loss in Q1 amid BTC decline
Canaan’s Q1 results were dragged down by a $25 million inventory write-down and a 75% quarterly drop in equipment sales as Bitcoin prices retreated from their highs.
Bitcoin miner MARA spent $4.3M on CEO security in 2025 as crypto attacks rise
MARA spent $4.3 million on CEO Fred Thiel’s security in 2025, including vehicle armoring, as crypto wrench attacks increased globally.
Satoshi-era Bitcoin miner transfers $203M in BTC to OTC desks
A Satoshi-era Bitcoin miner moved 2,650 BTC worth about $203 million to FalconX and Cumberland, while retaining 6,000 BTC.
Georgia targets illegal crypto mining in Mestia crackdown: Report
Georgia will reportedly install electricity meters across Mestia to curb illegal crypto mining after officials blamed miners for grid strain and outages.
Bitcoin miners are pivoting to AI, so why is the hashrate near ATHs?
Bitcoin miners are pivoting to AI infrastructure for billions in new revenue, but the network’s hashrate continues to tread near record highs.
Bitcoin miner IREN enters Europe with Nostrum acquisition as AI pivot accelerates
The acquisition adds about 490 megawatts of secured power in Spain as IREN expands beyond Bitcoin mining and builds its European AI cloud platform.
Crypto lobby urges Congress to pass staking and mining tax bill as is
A trio of crypto lobby groups says a bill allowing staking and mining rewards to be taxed when they’re sold should be passed without further amendments.
Kazakhstan president signs decree to accelerate crypto adoption
Kazakhstan targets gas-powered electricity for mining, income tax exemptions for regulated crypto transactions and cross-border stablecoin payments in a new decree signed by the president.
TeraWulf eyes $3.5B debt raise for Anthropic-linked data center: Report
Bitcoin miner TeraWulf is reportedly seeking $3.5 billion in debt financing led by Morgan Stanley for its Kentucky data center campus leased by AI company Anthropic.
Hobby-level miner bags $200K solo BTC block with budget Bitaxe rig
A solo Bitcoin miner secured a $200,000 block reward with a budget mining rig, pushing payouts to hobby-level miners to $4.7 million for the past year.
Foundry asks Bitcoin miners to vote on BIP-110 support
Foundry USA asked its mining customers to signal their support for BIP-110, an actively debated proposal seeking to shrink the amount of data that can be stored in a Bitcoin transaction.
Kazakhstan approves strategic crypto mining rules tied to national reserve
Kazakhstan plans to require miners to meet strict infrastructure standards and transfer part of their mined crypto assets to a state-backed reserve under new rules.
Bernstein says Bitcoin mining deals necessary for AI power crunch
Bernstein analysts remain bullish on the Bitcoin mining sector, as deals with third-party providers will be necessary to address the computing power limits of AI data centers.
Bitcoin mining pool Poolin files for Chapter 11 bankruptcy
Bitcoin miner Poolin filed for Chapter 11 bankruptcy and initiated a $52 million sale of its two West Texas mining sites as part of its future creditor recovery program.
U.S. Treasury Cuts Off MEXC From U.S. Financial System Over Alleged $16 Billion in Illicit Flows
Bitcoin Magazine U.S. Treasury Cuts Off MEXC From U.S. Financial System Over Alleged $16 Billion in Illicit Flows FinCEN issued a final order under section 9714(a) that will bar U.S. financial institutions from sending or receiving funds wi…
Celsius-linked Bitcoin miner Ionic Digital gains 26% in Nasdaq debut
The Bitcoin miner and AI infrastructure company closed at $62.90, giving it a market capitalization of about $2.8 billion after its direct listing.
Tennessee county passes another ban on crypto operations
A group of 12 county commissioners voted unanimously to ban mining facilities and data centers in unincorporated areas as it deals with a lawsuit by a digital asset company.
Bitcoin-backed loan refinances PowerCompute’s $18M debt at 2%
Nasdaq-listed PowerCompute refinanced $18 million of debt through a Bitcoin-backed facility carrying an initial interest rate of about 2%.
CleanSpark misses Wall Street revenue estimates as shares sink
CleanSpark’s shares fell 5.5% on Thursday after the Bitcoin miner reported $138 million in quarterly revenue, narrowly missing Wall Street’s consensus estimate.
Bitdeer increased Bitcoin mining output by nearly fivefold in Q2
Bitdeer mined 2,694 BTC in Q2, but ended the quarter holding just 150 BTC after liquidating its treasury earlier this year.
Anthropic strikes $9B compute deal with Bitcoin miner Riot: Report
Anthropic reportedly struck a $9 billion deal with Riot for 191 megawatts of capacity from the Bitcoin miner’s Rockdale campus in Texas.
Keel shuts US Bitcoin mining operations as Q2 revenue falls 50%
Keel completed the shutdown of its US Bitcoin mining operations as it pivots toward AI and high-performance computing infrastructure
Bitcoin miners earn under 0.7% of revenue from fees in new 10-year low
Bitcoin miners showed a “concerning” trend of pivoting to AI amid a profit squeeze as transaction-fee income barely bounced from 10-year lows of 0.52% of revenue.
Cypherpunk launches Zcash mining fleet controlling 18% of network hashrate
The $33.3 million Winklevoss Capital deal expands Cypherpunk’s ZEC strategy as it targets 5% ownership of the cryptocurrency’s circulating supply.
Crypto Biz: Treasury’s ‘Not-QE’ playbook sends Bitcoin higher
Bitcoin rallied as Treasury bond buybacks fueled the “not-QE” trade, while Metaplanet expanded to the US and Cypherpunk made a $33 million Zcash mining bet.
Bitcoin miners face widening AI financing costs as lenders scrutinize deals
The Bitcoin mining industry needs roughly $50 billion to complete planned AI infrastructure projects, with IREN, Riot Platforms and HIVE Digital facing major funding gaps.
FTX’s crypto mining venture is now used to advance AI
The defunct exchange acquired a 20% stake in Genesis Digital Assets before FTX declared bankruptcy in November 2022.