Crypto and related stocks like Strategy rallied as bitcoin topped $80,000 and Fed rate expectations remained split.
The Michigan AI agreement could generate more than $1.2 billion, with expansion options potentially lifting that above $3 billion.
The company said it has since deployed $773.4 million to acquire about 16.5 million additional HYPE at an average cost of $46.77.
Amid a two-month puase on BTC buys, Strategy shares (MSTR) rallied alongside bitcoin as STRC continued its recovery toward its $100 target.
The move triggered nearly $2 billion in crypto liquidations and lifted crypto-linked stocks, with Strategy and Bitmine gaining around 10%.
The company is focused increasingly focused on becoming a provider of AI infrastructure, expanding beyond its core bitcoin mining business.
Bitcoin miner Bitdeer shares jump after disclosing $4.7 billion AI data center lease terms with Volta in Norway.
Bitmine expanded its ether treasury to 5.8 million ETH tokens as Tom Lee highlighted July's outperformance against the Nasdaq 100.
Owning shares in these companies fit into Aschenbrenner’s belief power and data-center capacity will be critical to scaling AI.
"Within the next few years the majority of money will live and move on blockchain in one form or another," according to Polygon Labs.
Strategy's preferred STRC stock closed again under $90 for the second consecutive day at $88.59, having drifted as low as $82.50.
Strategy, Bitmine, and other major treasury firms have seen paper gains evaporate as crypto prices continue sliding.
Shares of Cypherpunk Technologies plunged more than 40% following the disclosure of a critical bug that was recently patched in Zcash.
Bitcoin ETFs ended a 13-day outflow streak with $3M inflows, and ETH ETFs snapped a 17-day run ahead of NFP as traders rotate to equity perps.
Bernstein initiates TeraWulf and Cipher Digital at Outperform with $36 and $32 price targets, projecting AI revenue to grow ninefold by 2030.
Hive Digital Executive Chair Frank Holmes said the facility could eventually support more than 100,000 GPUs.
Gemini posted $50.3 million in total revenue in Q1, pointing to growth in services, OTC trading and its crypto-linked credit card segment.
Strive said SATA will become the first U.S.-listed security to pay cash dividends every business day as its BTC holdings climb.
Bernstein reiterates $67 Figure target with 72% upside after Q1 loan volumes jump 113% year-over-year to $2.9 billion.
Circle raised $222M in an Arc presale at a $3B valuation; BlackRock, Apollo, and a16z invest as Q1 revenue reaches $694M and USDC hits $77B.
Alongside the AI infrastructure expansion, Nvidia took warrants that may eventually convert into a $2.1 billion stake in IREN.
TD Cowen raised its MSTR price target to $395, citing an STRC preferred issuance shift and a revised BTC Yield forecast for fiscal 2026.
The deal marks the first phase of Hut 8 commercializing its Beacon Point data center campus located in Nueces County, Texas.
The company reported a 7% year-over-year increase in transaction revenues, posting a total of $623 million for the quarter.
TD Cowen said The Smarter Web Company has strengthened its position as the only UK-listed bitcoin treasury vehicle at scale.
American Bitcoin said that it completed the "energization of ~11,298 Bitcoin miners at its Drumheller site.
Every crypto-related stock in the market now has its own differentiated business models that respond to different drivers.
The bitcoin move spread to other major cryptocurrencies, lifting the total market cap back above $2.7 trillion.
Bitcoin climbed above $76,100 to a two-month high, while U.S. equities recovered most of their losses tied to the conflict in Iran.
Strategy’s STRC preferred stock saw record $1.1 billion daily volume, becoming the firm's main engine for funding recent bitcoin buys.