Autor Cointelegraph By Sam Bourgi

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.The rally was reflected in The Energy Mag’s TEM AI Infrastructure Growth Index, which tracks 20 companies spanning the Bitcoin mining, neocloud and AI infrastructure sectors. The index rose 1.4% on Monday and is up more than 12% over the past week. The performance of the TEM AI Infrastructure Growth Index. Source: The Energy MagThe rally in Bitcoin mining stocks coincided with a broader recovery in technology shares, as the Nasdaq Composite Index added 0.9% by midday. The Philadelphia Semiconductor Index, a closely watched gauge of chipmakers powering the AI boom, climbed 2% after entering a technical bear market last week, defined as a decline of 20% or more from its recent high.Related: Bitdeer stock jumps 14% as company expands US mining hardware productionAI pivot fuels gains, raises questionsBitcoin mining stocks have experienced sharp volatility this year as companies contend with a weak Bitcoin mining environment while increasingly pivoting toward AI infrastructure and cloud computing. According to Blocksbridge Consulting, the AI pivot has driven a sharp re-rating across the sector, but it has also attracted greater investor scrutiny over insider stock sales.In a recent Miner Weekly newsletter, Blocksbridge said insider sales at TeraWulf, Riot Platforms, Core Scientific and Cipher Mining have drawn investor attention. Although the transactions were executed under prearranged trading plans, they have fueled questions about whether AI-driven enthusiasm pushed share prices high enough for executives to cash out.To be sure, the AI pivot has already required substantial investment from Bitcoin miners, with much more capital still needed. Blocksbridge estimates the industry will require another $50 billion to realize its AI ambitions, with IREN facing the largest funding gap at roughly $21.1 billion.Related: Crypto Biz: When dollars disappear, stablecoins step in

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.Beyond prediction markets, Bernstein identified tokenized equities as a major long-term opportunity, pointing to Robinhood’s investment in blockchain infrastructure. The firm highlighted Robinhood Chain, the company’s Arbitrum-based layer-2 network, as its proprietary infrastructure for tokenized real-world assets, enabling the platform to build on-chain financial products without relying on third-party blockchains.Bernstein said that tokenization is emerging as a foundational layer for capital markets, projecting that the value of onchain real-world assets will grow to between $2 trillion and $4 trillion by 2030 from roughly $35 billion today. The analysts expect tokenized equities to account for an increasing share of that growth as adoption expands beyond Treasury securities and private credit.Robinhood is competing across key “battleground” asset classes, including prediction markets, perpetual futures and tokenized RWAs. Source: BernsteinRelated: Tradable’s $1B Stellar deal adds to institutional tokenization boomWall Street expands tokenization infrastructureThe Bernstein report comes as financial institutions continue to expand infrastructure for tokenized securities.On Monday, brokerage infrastructure provider Alpaca and financial technology company Broadridge Financial Solutions announced they had integrated Broadridge’s shareholder governance tools into Alpaca’s Instant Tokenization Network. The integration adds capabilities such as proxy voting, investor communications and regulatory disclosures for tokenized securities, aiming to give token holders governance rights comparable to those of traditional shareholders.The announcement follows last week’s partnership between tokenization platform Securitize and investment bank Cantor Fitzgerald to develop infrastructure for blockchain-based initial public offerings and follow-on equity offerings within existing US securities regulations.The institutional push comes as tokenized stocks continue to gain traction. The asset class has grown to nearly $2 billion in market value this year, according to RWA.xyz.Related: Crypto Biz: When dollars disappear, stablecoins step in

Stablecoins have long been pitched as a faster way to move dollars across borders. In Bolivia, they’re increasingly becoming a way to access dollars in the first place. The country’s recent proposal to recognize Tether’s USDt (USDT) for payments underscores how economic instability is driving adoption in many emerging markets. Elsewhere, Bitcoin miners are discovering that pivoting to AI infrastructure may unlock new revenue streams, but it doesn’t shield them from investor scrutiny.Bolivia weighs recognizing USDT amid dollar shortageBolivia is considering a regulatory framework that would recognize Tether’s USDT as a payment currency, marking another step in the country’s push to integrate digital assets into its financial system.Economy and Public Finance Minister Jose Gabriel Espinoza said the proposal would allow USDT to circulate alongside the boliviano and the US dollar for payments and savings. The framework remains under review and would include anti-money laundering safeguards, as Bolivia is still on the Financial Action Task Force’s gray list. The initiative follows the lifting of the country’s crypto ban in 2024 and the new administration’s pledge to expand access to digital asset services.The proposal comes as Bolivia struggles with a prolonged shortage of US dollars after pressure on foreign exchange reserves forced the government to abandon its long-standing currency peg earlier this year. The resulting gap between the official and parallel exchange rates has increased demand for dollar-denominated alternatives such as USDT, which has become an increasingly popular payment tool in the country.Source: EL DEBERBitcoin miners’ AI pivot draws scrutiny over insider stock salesInvestors are increasingly scrutinizing insider stock sales at Bitcoin miners pursuing AI infrastructure strategies as enthusiasm for the sector cools and governance concerns take center stage.According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms and Core Scientific have disclosed stock sales in recent months, many of them made under prearranged Rule 10b5-1 trading plans. Strategic investors have also trimmed their holdings — including Tether — which reduced its stake in Bitdeer following the company’s AI-driven rally. The shift comes as the TEM AI Infrastructure Growth Index has fallen 16% over the past month.Blocksbridge said investors are increasingly looking beyond the AI growth story to assess whether the benefits of miners’ strategic pivots will flow to public shareholders.Most stocks in the 20-company TEM AI Infrastructure Growth Index were down over the past month through July 8. Source: Miner WeeklyCleanSpark stock jumps on $6.6 billion data center lease as AI pivot acceleratesCleanSpark shares rallied as much as 22% after the Bitcoin miner signed a 20-year data center lease in Georgia that could generate up to $6.6 billion in contracted revenue, underscoring its push into AI and high-performance computing infrastructure.The agreement covers a 175-megawatt data center at the company’s Sandersville, Georgia, campus and was signed with an undisclosed investment-grade global technology company. The tenant will install its computing equipment at the site, with phased deliveries expected to begin in the fourth quarter of 2027. If the customer exercises two five-year extension options, the contract’s total value could reach $11.6 billion.The deal reflects a broader trend among Bitcoin miners seeking new revenue streams as post-halving mining economics remain under pressure. While many publicly traded miners have reduced their Bitcoin holdings to shore up liquidity, CleanSpark has largely remained a net accumulator despite selling some BTC earlier this year to fund operations. CleanSpark remains a net accumulator of Bitcoin. Source: BitcoinTreasuries.NET Bitmine generated $46 million from Ethereum staking last quarterBitmine Immersion Technologies generated $45.7 million in revenue from Ethereum staking and validation last quarter, demonstrating the strength of its business even as ETH prices remained under pressure. Ethereum staking accounted for 98% of the company’s revenue for the three months ended May 31, compared with $624,000 from self-mining Bitcoin and $168,000 from consulting services. The results follow the March launch of MAVAN, Bitmine’s institutional Ethereum staking platform, which was built on the acquisition of validator operator Pier Two Holdings. The company said it has staked roughly 85% of its Ether holdings, or about 4.9 million ETH.Chairman Tom Lee said Bitmine now stakes more Ether than any other entity and projects annualized staking rewards of $284 million once its holdings of the token are fully staked through MAVAN and its partners. Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

Tokenization platform Tradable plans to bring up to $1 billion in private credit assets onto the Stellar blockchain, expanding institutional access to tokenized real-world assets (RWAs) as demand for onchain private markets continues to grow.Tradable said Thursday that $500 million in notional value is expected to be available when the initiative launches, and it will increase the amount to $1 billion over time. The company will use Stellar’s network to support institutional functions, including compliance, investor onboarding and asset lifecycle management.The timing of the initiative’s launch was not disclosed.Stellar Development Foundation CEO Denelle Dixon said the agreement reflects growing institutional interest in using the network for tokenized real-world assets.The move builds on Tradable’s existing business. The company said it has already tokenized $1.7 billion in private credit assets across nearly 30 institutional-grade private credit positions, with the Stellar integration expanding the availability of those assets.Stellar, one of the oldest public blockchains, has increasingly focused on tokenized real-world assets. The strategy has attracted institutional partners, including the Depository Trust & Clearing Corporation, which plans to connect its tokenization service to the network.The developments reflect broader momentum in the tokenized RWA market, where institutional adoption has helped drive the sector’s value above $34 billion, according to RWA.xyz.The tokenized RWA market has expanded rapidly since early 2025. Source: RWA.xyzRelated: DTCC to use Chainlink to power 24/7 collateral management networkPrivate credit dominates the tokenized RWA marketPrivate credit has emerged as the largest segment of the tokenized RWA market, accounting for roughly 44% of the sector’s value, according to Bernstein analysts.The segment has grown as financial institutions increasingly use blockchain technology to originate, service and settle private loans more efficiently. In a research note published in May, Bernstein cited Figure Technology Solutions as a key driver of that expansion, pointing to the company’s blockchain-based lending platform and loan settlement infrastructure.Token Terminal recently highlighted the role of private credit in fueling the tokenization boom, attributing the expansion to the continued migration of traditional financial assets onto blockchain infrastructure.Related: Securitize, Cantor target tokenized IPOs for public markets

Securitize and Cantor Fitzgerald have partnered to support blockchain-based initial public offerings (IPOs) and follow-on equity offerings for listed companies, a move that could further expand the use of tokenized securities in traditional capital markets.The companies said Wednesday that they are developing a framework for primary issuances that would allow companies to raise capital through tokenized securities while remaining within the existing regulatory framework for public offerings. The framework would support both IPOs and follow-on, or secondary, offerings, in which already public companies issue additional shares to raise capital.Under the agreement, Securitize will provide the tokenization infrastructure used to issue, distribute and service the digital securities. Its SEC-registered broker-dealer affiliate, Securitize Markets, will participate in the offering and settlement process. Cantor will contribute its equity capital markets and trading capabilities typically associated with public offerings. The announcement comes as tokenized securities gain traction across traditional finance. While tokenization has largely focused on private credit and Treasurys, companies are increasingly exploring blockchain-based infrastructure for public equities as well.The collaboration builds on an existing relationship between the companies. Securitize, which provides blockchain infrastructure for tokenized real-world assets, went public through a merger with a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald. Related: Kraken acquires tokenization platform Magna ahead of potential IPOTokenized stocks attract Wall Street interestThe market for tokenized stocks has expanded rapidly over the past year, outpacing much of the broader digital asset market. The value of tokenized stocks onchain has increased 16% over the past 30 days to nearly $1.9 billion, according to RWA.xyz.The value of tokenized stocks has grown rapidly over the past year.Source: RWA.xyzThe growth is drawing established financial institutions deeper into the sector. As The Wall Street Journal reported Wednesday, the Depository Trust & Clearing Corp. (DTCC) plans to pilot the tokenization of stocks and US Treasurys with nearly 40 financial companies, including JPMorgan and Goldman Sachs. The trial follows DTCC’s May announcement that it aims to roll out tokenized trading services by October. Assets slated for tokenization include shares of Microsoft (MSFT) and stablecoin issuer Circle (CRCL), as well as exchange-traded funds tracking the S&P 500 index, the Nasdaq 100 index and short-term US Treasury bonds.Related: US, UK treasuries to align transatlantic rules on tokenization and stablecoins