Tether and crypto miner lender Antalpha are seeking to raise at least $200 million for a new digital asset treasury vehicle focused on tokenized gold, Bloomberg reported Friday, citing people familiar with the matter. Key Takeaways: Tether and Antalpha are raising $200 million to build a tokenized gold treasury centered on XAUt. The initiative deepens their partnership as gold demand climbs and tokenized commodities gain traction. Tether continues expanding beyond stablecoins with strategic bets in m ...

Group 1 - Tether is collaborating with Antalpha to raise at least $200 million for a new digital asset treasury focused on tokenized gold [1][2] - The new treasury will stockpile Tether Gold (XAUT), which is backed by physical gold bars stored in a Swiss vault, and has a market capitalization of nearly $1.5 billion [1] - Antalpha is a key lender to Bitmain and will help launch a hub for XAUT-backed lending, custody, and token redemption services [2] Group 2 - Tether has diversified its operations beyond USDT, with investments in bitcoin mining, payments, energy, and artificial intelligence, and is seeking to raise funds at a $500 billion valuation [3] - The company held $8.7 billion in gold on its balance sheet as of June, reflecting its commitment to gold as a hard asset [4] - Paolo Ardoino, CEO of Tether, advocates for gold as a valuable asset, aligning with the company's strategy to expand its gold holdings [4]

Market Trends - Tether is in discussions to raise capital for a public vehicle focused on accumulating tokenized gold [1] - A company closely linked to Bitmain, a major Bitcoin hardware manufacturer, is involved in the capital raising talks [1]

According to Blockspace, ICE on Sept. 29 raided the Lonestar Dream bitcoin mining site in Pyote, Texas, targeting an ASIC repair center run by ADW Tech, an affiliate of Bitmain — the world’s largest bitcoin mining rig maker. The action is linked to a broader federal review of ASIC imports, as U.S. agencies probe whether Sophgo, a semiconductor firm tied to Bitmain CEO Micree Zhan, violated export controls. https://t.co/C1UQ1vlFYt ...

Industry Overview - Bitcoin miners are increasingly integrating with High-Performance Computing (HPC), indicating a shift in operational focus that is expected to strengthen over time [1] - The Bitcoin mining network has achieved a significant milestone, reaching one zettahash of computing power, which equates to one sextillion computations per second [6] Market Performance - Cipher Mining's stock rose by 39% to $10.32, while Bitfarms saw a 62% increase, nearing $2 per share after CEO Ben Gagnon announced stock purchases [1] - IREN also performed well, surpassing $30 per share [1] Bitcoin Difficulty Adjustments - Recent Bitcoin difficulty adjustments show a significant upward trend, with a 7.96% increase in July followed by a 4.89% adjustment, and expectations of an additional 8% increase [2][4] - The current hash price is estimated to be between $53 to $56 per petahash per day [3] Legal and Regulatory Developments - Tether is involved in a legal dispute with Swan Bitcoin, claiming exclusive ownership over intellectual property developed in their joint venture [8][9] - A GOP lawmaker has urged a Treasury investigation into Bitmain's operations, citing potential risks to U.S. energy grid security [13][14] Company-Specific Developments - Canaan has reported strong performance, mining 1,400 Bitcoin in Q2 and shifting its operations to the U.S. [16] - Ocean Pool is facing controversy over executive compensation, with unconfirmed reports suggesting a salary of $750,000 for its CEO, which is considered high for the industry [17][18]

There's no shortage of crypto crypto treasury firms out there, no shortage of Bitcoin mining firms out there. Mike What makes American Bitcoin different from everything else out there. Well, we're the best of all worlds apart from air travel, apart from here.That's the best part. But we're the best of all worlds. We're not just a Bitcoin mining company. We're not just the Treasury. We're a Bitcoin accumulator.And what that means is we use Bitcoin mining as just one layer of the strategy. Bitcoin mining is e ...

Group 1 - The company positions itself as a unique entity in the Bitcoin space, combining Bitcoin mining with treasury management and active accumulation strategies, allowing for Bitcoin acquisition at a significant discount to spot prices [1][2][4] - The volatility of the company's profile is higher than Bitcoin, but it leverages this to issue low-cost convertible securities to enhance Bitcoin ownership per share, which has been beneficial for shareholders [4][30] - The company emphasizes the advantages of using Bitcoin as a hedge against inflation and as a liquid asset compared to traditional real estate investments, highlighting the ease of transacting in Bitcoin [36][38] Group 2 - The company has a significant stake in Bitcoin, with claims of ownership appreciating at rates between 50% and 70% annually over the past decade, positioning Bitcoin as a superior asset class [13][17] - The company acknowledges the competitive landscape of Bitcoin mining equipment, specifically mentioning the efficiency of ASIC chips from Bitmain, which are crucial for their operations [20][23] - The rise of crypto adoption is noted, with approximately 60 million active wallets, indicating a growing interest in Bitcoin and its potential for institutional investment, contrasting it with traditional financial products [42]

RT CoinDesk Podcast Network (@CoinDeskPodcast)🎧 Catch the latest episode of 'THE MINING POD: Bitcoin Mining News: Tether’s Court Win, US Gov’t Eyes Bitmain, AI’s Hashrate Impact,’ in partnership with @blockspacepod!On the latest Mining Pod news roundup, Will and Mat discuss Bitcoin’s 5 %+ difficulty jump, to Tether’s courtroom win over Swan, GOP calls for a CFIUS review of Bitmain, AI’s creeping impact on hashrate, and the claim that Ocean Pool’s CEO Luke Dashjar earns $750k a year.📨 https://t.co/hRtJgvZWn8 ...

Group 1 - Crypto mining stocks surged following Nebius Group's five-year agreement with Microsoft to supply graphic processing units valued at $17.4 billion, aimed at enhancing Microsoft's AI infrastructure [1] - The rally in mining shares occurred despite a 1% decline in bitcoin's price, indicating a shift in investor focus towards mining infrastructure's role in the AI boom rather than solely on bitcoin's price movements [2] - Bitfarms led the gains with a 22% increase, while Cipher Mining rose by 20%, and other companies like IREN, Hut 8, Riot Platforms, and TeraWulf saw mid-teens percentage increases; however, MARA Holdings, which has shifted focus to being a bitcoin treasury company, only increased by 4% [3] Group 2 - The mining industry's profitability is no longer primarily influenced by bitcoin's halving cycle, as companies now face challenges from rising power costs, hardware production, and increased competition [4] - AI is transforming the business model for miners, with those possessing large energy footprints and advanced computing infrastructure exploring leasing capacity to hyperscalers or pivoting to data center services; the Nebius-Microsoft deal underscores the growing value of GPU access [5]

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