The Ethereum treasury firm added 7,430 ETH over the past week, bringing its holdings to nearly 5% of the network’s circulating supply. Top Ethereum treasury company Bitmine said Monday its Ether holdings had reached 5.78 million tokens, representing about 4.8% of Ethereum’s circulating supply, as the company closed in on its stated goal of accumulating 5% of all ETH. According to Monday’s announcement, the company added 7,430 ETH (ETH) over the past week. About 4.9 million ETH, or roughly 85% of its treasury, is currently staked through its validator network and partners. Bitmine valued its crypto, cash and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares during the week under its previously authorized $4 billion buyback program. Read more
Bitcoin miners rallied as investors cheered multi-billion-dollar AI infrastructure contracts, underscoring the sector’s accelerating shift toward data centers and cloud computing. Shares of several Bitcoin mining companies surged Monday after Hut 8 and IREN announced major AI infrastructure deals, reinforcing investor optimism around miners expanding into artificial intelligence and high-performance computing. IREN, Cipher Digital, CleanSpark, Hut 8 and MARA Holdings each gained at least 11% in early Monday trading. The rally followed Hut 8’s announcement of a 15-year, $9.8 billion lease for its AI data center campus and IREN’s disclosure of $2.8 billion in cloud services contracts with AI developers. Both companies began as Bitcoin (BTC) miners before accelerating a pivot toward AI infrastructure and cloud computing as mining economics weakened. IREN now expects its AI cloud business to generate more than $4 billion in annual recurring revenue by the end of 2026. Read more
The West African country’s executive order established a virtual asset council and addressed the fragmentation of crypto regulation for oversight and enforcement. President Bola Ahmed Tinubu of Nigeria has moved to address what his office called the fragmentation of digital asset regulation. The Nigerian president’s special adviser Bayo Onanuga said that an executive order signed on Friday would “harmonize the regulation of virtual assets, strengthen cooperation among the nation’s financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation.” It also established a virtual asset council headed by some of the nation’s top financial regulators to direct related policies, and Nigeria’s tax authority will update its policies on digital assets. Read more
The brokerage’s blockchain strategy, including tokenized equities and its Arbitrum-based Robinhood Chain, could reduce its reliance on traditional crypto trading, analysts said. Analysts at Bernstein have raised their price target on Robinhood Markets, based on their investment thesis that the online brokerage’s next phase of growth will be driven by tokenized equities and prediction markets rather than traditional crypto trading. In a Monday research note, Bernstein raised its price target on Robinhood (HOOD) stock to $160 from $130 per share and maintained its Outperform rating. HOOD stock was last seen trading around $101. The analysts said prediction markets are poised to become Robinhood’s fastest-growing business, forecasting segment revenue to reach $1.7 billion by 2028, representing a 64% compound annual growth rate. Read more
Bitcoin faced troublesome resistance at $65,000 while traders still saw a potential BTC price breakout into a “bullish market structure.” Traders balked on Bitcoin (BTC) at $65,000 on Monday as crypto and risk-assets remained under pressure. Key points: Data from TradingView showed BTC price volatility returning around Monday’s Wall Street open. Read more
The Bitcoin miner raised its year-end AI cloud revenue target to more than $4 billion after signing $2.8 billion in new contracts with AI developers. Bitcoin miner IREN’s shares rose around 15.7% on Monday after the company raised its year-end AI cloud annualized run-rate revenue target to more than $4 billion following $2.8 billion in new multi-year cloud services contracts with AI developers. The company said about 85% of its revised annualized AI cloud revenue target is now under contract, with customers including Microsoft, Nvidia, Perplexity and Figure AI. Read more