Autor Sam Bourgi

Crypto Biz: Is AI the exit strategy for miners?

Crypto Biz: Is AI the exit strategy for miners?

Uverejnil používateľ | jún 19, 2026 |

For years, Bitcoin miners were little more than leveraged bets on BTC prices. That’s changing fast. As mining margins tighten and demand for AI computing accelerates, the industry’s biggest players are discovering that access to power and data center infrastructure may be more valuable than hash rate.That shift gained further validation this week as Nvidia reportedly prepared a $20 billion bond sale to finance the next phase of its AI expansion, reinforcing the multi-year investment cycle that Bitcoin miners are increasingly positioning themselves to serve.Elsewhere, the tokenized real-world asset market continued to defy the broader crypto downturn, Ripple expanded its African payments push with an investment in Flutterwave and former FTX CEO Sam Bankman-Fried failed to overturn his fraud conviction.Nvidia’s $20 billion bond offering reinforces Bitcoin miner AI pivotNvidia wants to sell $20 billion-worth of bonds to finance the next phase of its AI expansion, reinforcing the growth trend that has prompted Bitcoin miners to pivot toward AI and data center infrastructure.Bloomberg reported Monday that the chipmaker is pursuing a multi-part bond offering to fund AI-related investments and refinance existing debt. The longest-dated bonds are expected to offer considerably higher yields than comparable US Treasury securities.The sustained AI buildout has created new opportunities for Bitcoin miners, many of which are repurposing their energy-intensive facilities and power infrastructure for high-performance computing and AI hosting as mining economics remain under pressure. Companies including HIVE Digital, Hut 8, CleanSpark and TeraWulf are increasingly positioning themselves as AI infrastructure providers.Source: CointelegraphTokenized RWAs defy crypto bear marketThe tokenized real-world asset (RWA) market continues to grow despite broader crypto weakness, with the total value of onchain financial assets surpassing $43 billion — a 37% increase over the past six months, according to Token Terminal.Tokenized funds make up the overwhelming majority of the RWA market, representing nearly 80% of all onchain financial assets, though commodities and tokenized stocks are gaining traction.The sector’s momentum comes as major financial institutions forecast significant long-term growth. Standard Chartered expects tokenization to help drive decentralized finance toward a $2.7 trillion market capitalization by 2030, while Citigroup projects tokenized RWAs could reach $5.5 trillion over the same period.Source: Token TerminalRipple invests in African payment companyRipple has invested an undisclosed amount in Flutterwave, one of Africa’s fastest-growing remittance companies, in a deal that values the fintech startup at $3.3 billion.The transaction will bring Ripple’s RLUSD stablecoin, Ripple Payments platform and XRP Ledger infrastructure to one of Africa’s largest payment providers, which operates across 35 countries, as blockchain-based remittances continue to gain traction.The deal marks another step in Ripple’s push to expand its payments network across Africa, where demand for faster and lower-cost cross-border transfers is rapidly increasing. Last October, the company partnered with South Africa’s Absa Bank to provide institutional digital asset custody solutions, further strengthening its presence on the continent.Source: FlutterwaveSam Bankman-Fried loses appealFormer FTX CEO Sam Bankman-Fried failed to overturn his fraud conviction after a three-judge appeals panel in Manhattan upheld the verdict, finding that he received a fair trial.“While he ‌was publicly reassuring customers, investors and regulators ‌that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy bank, spending customer funds ⁠on real estate, ⁠political contributions, and investments,” wrote Circuit Judge Barrington Parker.Bankman-Fried was convicted on fraud and conspiracy charges tied to FTX’s collapse and sentenced to 25 years in prison in 2024. As Cointelegraph reported, he has also formally applied for a presidential pardon from US President Donald Trump, with the request appearing on the Pardon Attorney website in early June.Source: Toby CunninghamCrypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

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Malta proposes DeFi rulebook covering DAOs under MiCA-era framework

Malta proposes DeFi rulebook covering DAOs under MiCA-era framework

Uverejnil používateľ | jún 19, 2026 |

Malta’s financial regulator has issued a discussion paper outlining a potential legal framework for decentralized finance (DeFi), including recognition of decentralized autonomous organizations (DAOs), as European policymakers continue to grapple with how to regulate blockchain-based financial services.On June 12, the Malta Financial Services Authority (MFSA) opened a public consultation on DeFi under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The paper invites industry feedback through July 10 and proposes a new legal category for so-called “software-based organizations,” which would encompass DAOs and other software-governed DeFi entities.Rather than treating DAOs as a standalone legal concept, the MFSA suggests recognizing them as a type of software-based organization, separating the legal framework governing the organization itself from the rules governing the underlying protocol and software.The discussion paper builds on Malta’s long-standing role in the digital asset industry, having introduced one of the region’s first comprehensive crypto regulatory frameworks in 2018. While stressing that fully decentralized services generally fall outside MiCA’s scope, the regulator argues that many DeFi projects retain centralized features that complicate claims of decentralization and raise questions about regulatory accountability.“MiCA excludes fully decentralised models from its regulatory scope, meaning that projects without intermediaries or central control may not need to comply with MiCA,” the paper states.The MFSA outlines the scope of the DeFi discussion paper. Source: MFSARelated: DAOs may need to ditch decentralization to court institutionsEU regulators increasingly turn attention to DeFiMalta’s discussion paper comes amid a broader push across the European Union to clarify how decentralized finance and decentralized autonomous organizations should be treated under MiCA.In March, a European Central Bank working paper found that governance and control across four major DeFi protocols remained highly concentrated, suggesting many projects may struggle to qualify as “fully decentralized” and therefore fall outside MiCA’s scope.The debate continued in May, when the European Commission launched a targeted review of MiCA seeking feedback on issues including stablecoin interest payments, the treatment of DeFi and whether gaps in the framework warrant additional regulation.However, not everyone believes a new DeFi rulebook is necessary. Speaking to Cointelegraph at the WAIB Summit Monaco earlier this month, European Commission adviser Peter Kerstens said policymakers should prioritize integrating tokenization into a broader digital asset framework rather than pursuing a second version of MiCA focused on DeFi.European Commission adviser Peter Kerstens (right) speaks with Cointelegraph’s Zoltan Vardai. Source: WAIB Summit 2026Related: Crypto firms face July 1 EU cutoff as MiCA grace period ends

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Ethereum Foundation leadership exodus continues with director’s departure

Ethereum Foundation leadership exodus continues with director’s departure

Uverejnil používateľ | jún 18, 2026 |

The Ethereum Foundation has lost another high-ranking contributor, amid increasing scrutiny of the research organization as the network faces ongoing questions about talent retention and governance philosophy.In a post on X, co-executive director Hsiao-Wei Wang announced that she had stepped down from her role, effective immediately, following a recent sabbatical. Wang wrote that “Ethereum has always been bigger than any role” and indicated that she has not yet decided what she will do next.Ethereum co-founder Vitalik Buterin commented on Wang’s an X post, acknowledging that she had taken on “the most challenging position in the Ethereum Foundation” alongside Tomasz Stanczak, who also stepped down from his leadership role earlier this year.Source: Vitalik ButerinThe Ethereum Foundation has logged an estimated 19 layoffs and departures this year, although the loss of senior executives and core contributors has drawn the most attention. The wave of departures comes as the foundation grapples with intensifying competition, ongoing debate over Ethereum’s governance and long-term development strategy, and continued pressure on Ether’s market performance.Buterin has also pushed back against criticism, particularly claims that the foundation should play a more active role in promoting the network. In May, he said that the foundation “is not the ‘center of Ethereum,’ rather […] ‘one node, with a defined purpose, alongside other nodes.’”Related: Blockchain researcher defends Ethereum Foundation, says it’s doing ‘exactly’ its jobDecentralization remains Ethereum Foundation’s core mandateIn March, the Ethereum Foundation reaffirmed its role as a steward of the Ethereum ecosystem, unveiling a revised mandate that places even greater emphasis on decentralization.“Our ultimate goal is for Ethereum to pass the walkaway test: its protocol and core application layers become robust and trustless enough that they would continue to reliably function and evolve even if the Foundation and today’s core developers disappeared tomorrow,” the foundation said.Source: Ethereum FoundationThat philosophy has also shaped Buterin’s evolving stance on Ethereum layer-2 networks — the independent blockchains built on top of Ethereum to improve scalability and reduce transaction costs. Buterin recently stated that the original vision for layer-2s “no longer makes sense,” contending that many have failed to achieve meaningful decentralization and that improvements to the Ethereum mainnet make it a more suitable long-term scaling solution.Magazine: Ethereum’s roadmap to 10,000 TPS using ZK tech: Dummies’ guide

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Bitcoin miners need billions to fund AI ambitions, led by IREN’s $21B gap

Bitcoin miners need billions to fund AI ambitions, led by IREN’s $21B gap

Uverejnil používateľ | jún 18, 2026 |

Public Bitcoin miners are increasingly being valued as AI infrastructure companies, but turning that narrative into reality could require roughly $50 billion in near-term capital, according to a new framework highlighted by Blocksbridge Consulting’s latest Miner Weekly newsletter.Using data from VanEck, the report argues that miners need long-term financing to convert power assets into AI-ready data centers, where higher infrastructure standards translate into much larger capital requirements than traditional Bitcoin (BTC) mining operations.“A Bitcoin mine can run with relatively simple buildings, modular infrastructure and ASIC fleets that tolerate fast curtailment. AI and HPC facilities require higher standards for uptime, cooling, electrical redundancy, networking and customer support,” Miner Weekly said.The report follows one of the largest percentage declines in Bitcoin mining difficulty on record, with difficulty dropping 10.09% to 124.93 trillion on June 14 after an estimated 100 exahashes per second (EH/s) of computing power went offline. While weaker mining economics and seasonal power curtailments contributed to the decline, Miner Weekly said the growing shift toward AI infrastructure could reshape future hashrate growth as miners allocate more energy capacity to data centers instead of Bitcoin production.IREN faces the largest funding gap among public Bitcoin miners pursuing AI infrastructure, requiring an estimated $21.1 billion to fully develop its AI data center ambitions. It’s followed by Riot Platforms, which faces a $7.2 billion funding gap, and HIVE Digital, at $4.6 billion.The estimated AI data center funding gap among public Bitcoin miners. Source: MinerWeeklyTo be sure, Bernstein recently flagged IREN as the public miner most likely to abandon Bitcoin mining in favor of AI cloud infrastructure, projecting a $3.7 billion annualized revenue run rate once its AI operations are fully built out.Related: Bitcoin mining difficulty falls, but is projected to rise in next adjustmentBitcoin miners face broad economic pressuresBitcoin mining economics have been under increasing pressure in the two years since the biggest cryptocurrency’s 2024 halving, with lower hashprice and weaker BTC prices squeezing profit margins across the industry.Hashprice, a measure of the daily revenue earned per unit of computing power, has fallen sharply since Bitcoin reached an all-time high last October. In a December report, TheEnergyMag described the fourth quarter of last year as the “harshest margin environment of all time” for public miners, citing a decline in hashprice to roughly $35 per petahash per second (PH/s).Conditions deteriorated further in the first quarter, with CoinShares estimating hashprice had fallen to around $28 per PH/s. At those levels, as many as 20% of Bitcoin miners were operating at a loss, particularly those relying on older-generation machines or facing higher electricity costs.Bitcoin’s hashprice has declined sharply over the past year. Source: Hashrate IndexAgainst this backdrop, the AI pivot has become an increasingly attractive strategy for public miners seeking to monetize their power infrastructure through a potentially higher-margin business. The broader AI buildout shows little sign of slowing, with industry bellwether Nvidia reportedly planning a $20 billion bond offering to help finance AI-related investments.Related: Professional investors dumped 52K BTC worth of ETFs in Q1, filings show

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Ledn adds Tether Gold as loan collateral, expanding Bitcoin-backed lending model

Ledn adds Tether Gold as loan collateral, expanding Bitcoin-backed lending model

Uverejnil používateľ | jún 18, 2026 |

Bitcoin lending platform Ledn has expanded its services to include Tether Gold (XAUt), allowing investors to hold the tokenized asset and borrow against it in much the same way they can borrow against Bitcoin.Ledn announced Thursday that clients can use XAUt as collateral for loans instead of selling their holdings for cash. Under the company’s existing lending model, client collateral is held one-to-one and is not rehypothecated, lent out or used to generate yield.Loans are issued and repaid in Tether’s USDT or USAt stablecoins and can be repaid at any time without scheduled monthly payments. Tether launched USAt in the United States in January as a stablecoin designed to comply with the GENIUS Act.The launch expands the range of digital assets that can be used as loan collateral, giving investors another way to access liquidity without triggering a taxable sale. While Bitcoin-backed lending has become a common feature of the crypto market, the addition of tokenized gold reflects growing efforts to bring real-world assets into digital asset financial services as gold prices hover near record highs.The new products are rolling out across most jurisdictions where Ledn operates but are not currently available in Canada or the European Union.The market capitalization of Tether Gold peaked at around $2.89 billion. Source: CoinMarketCapRelated: Tether makes $150M investment in Gold.com in latest gold playTokenized commodities gain traction in RWA marketThe announcement comes as commodities play an increasingly prominent role in the tokenization market. According to a recent Token Terminal report, tokenized financial assets have surpassed $43 billion, with commodities accounting for nearly 17% of the market.Unlike commodity derivatives and futures, tokenized assets such as gold are backed by the underlying asset, giving holders direct ownership while enabling faster transfers and trading on blockchain networks.Commodities account for a bigger share of the tokenization market. Source: Token TerminalTether Gold benefited from this year’s rally in bullion prices, with the token’s market capitalization expanding as gold climbed to record highs above $5,600 per troy ounce. The precious metal has since pulled back to around $4,300 an ounce but remains up on the year.Related: Crypto Biz: SpaceX fuels tokenization’s next boomCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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