AI Boom Fuels 500% Surge in Bitcoin Miner Debt
Bitcoin mining firms have taken on unprecedented levels of debt, with total borrowings surging 500% year-on-year, from $2.1 billion to $12.7 billion, as the industry braces for intensifying competition and a technological arms race. According to a new VanEck report, miners are pouring billions into next-generation hardware and artificial intelligence
TeraWulf Soars on $3B Google-Backed Data Centre Pivot
TeraWulf (NASDAQ: WULF), the U.S.-based Bitcoin miner pivoting into artificial intelligence (AI) infrastructure, is preparing a $3 billion debt raise through Morgan Stanley, supported by tech giant Google. The financing marks a bold step in the company’s transition from a crypto-first business into a hybrid player supplying large-scale AI data
Google Buys 5.4% Stake in Cipher Mining via $3B AI Deal
Google has expanded its growing footprint in the high-performance computing (HPC) and Bitcoin mining crossover sector by acquiring a 5.4% equity stake in Cipher Mining. The move is tied to a $3 billion, 10-year hosting deal with AI cloud infrastructure company Fluidstack, positioning Cipher as a major player in both
CoreWeave to Acquire Core Scientific in $9B All-Stock Deal
CoreWeave, a Nasdaq-listed AI and cloud computing firm, has announced its acquisition of Core Scientific, a leading Bitcoin mining data centre operator, in a landmark $9 billion all-stock deal. Revealed via a press release on July 7, 2025, the transaction marks a major step in the integration of AI infrastructure
Canaan Expands to US, Abandons AI to Refocus on Bitcoin Mining
Bitcoin ASIC manufacturer Canaan has completed a successful pilot production run in the United States, marking a major shift in its manufacturing strategy. Alongside this move, the company has officially exited its artificial intelligence (AI) chip business, citing a strategic pivot back to its core strengths: Bitcoin mining and crypto
Russian Lawmakers Approve Crypto Tax Bill: Miners to Pay up to 15%
Russian lawmakers have passed a landmark crypto tax bill requiring industrial Bitcoin miners to pay taxes on their revenues. The legislation, which has advanced through the State Duma and awaits approval by the Senate and President Vladimir Putin, marks a pivotal step in regulating cryptocurrency mining in the country. Tax
