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ETH Treasury Firms Lean On Staking As ETFs Pressure DATs

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ETH Treasury Firms Lean On Staking As ETFs Pressure DATs

Ethereum treasury companies are under pressure to generate revenue from staking and other yield strategies as spot crypto exchange-traded funds (ETFs) weaken the appeal of public companies that simply hold Ether (ETH), according to a new Everstake report.

Staking accounted for an average of 60% of reported revenue among six ETH treasury firms that separately disclosed staking-related income, the staking infrastructure provider said.

Everstake reviewed 15 publicly listed companies with ETH treasury strategies and found that the firms in its sample that reported 2025 losses posted about $1.41 billion in combined net losses. Separately, BitMine Immersion Technologies reported a $9.02 billion net loss for the six months ended Feb. 28, though the figure was driven largely by unrealized losses on digital assets rather than operating losses, according to the report.

The 60% staking-revenue figure was based on six companies that separately disclosed staking-related income: BitMine Immersion Technologies, SharpLink, Bit Digital, Forum Markets, BTCS and FG Nexus. Companies that did not break out stakeholder-related rewards or had pending annual results were excluded from the calculation.

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The report frames the shift as part of a broader repricing of digital asset treasury companies (DATs), which previously offered one of the few regulated ways for public-market investors to gain crypto exposure. Everstake argued that spot ETFs have weakened DATs’ passive-exposure premium, pushing treasury firms to justify valuations through staking, DeFi lending, MEV capture and other yield strategies.

ETH treasury company data compiled by Everstake. Source: Everstake

“DATs that rely on passive exposure are being structurally repriced,” Everstake co-founder Bohdan Opryshko said in the report. He added that deployment is “no longer limited to standard protocol staking” and now includes liquid staking, DeFi lending and validator-level strategies.

Opryshko told Cointelegraph the study does not argue that staking revenue alone can support every ETH treasury model or offset all risks. ETH price volatility, dilution, net asset value discounts, financing costs and operating expenses can still outweigh staking yield, particularly for companies with weak capital structures or inefficient treasury management, he said.

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He said the report’s point is narrower: “Passive ETH accumulation is becoming harder to justify as a standalone public-market strategy, particularly after spot crypto ETFs gave investors cleaner access to passive exposure.” 

In that environment, staking and other forms of active asset deployment may become “necessary, though not sufficient,” for ETH treasury companies to sustain their models, he added.

ETFs matter, but may not be the only pressure point

Ignacio Aguirre, the chief marketing officer at crypto exchange Bitget, said spot ETFs have made it harder for ETH treasury companies to justify a premium based on ETH exposure alone. However, he cautioned against attributing the repricing entirely to ETFs.

“I would not over-attribute it to spot ETFs alone,” Aguirre told Cointelegraph. He said ETH treasury companies are still equity vehicles, meaning investors also weigh ETH price performance, balance sheet quality, dilution risk, treasury strategy, execution and broader market sentiment.

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Related: Bitmine’s Tom Lee hints at stock tailwinds after firm considered for Russell 3000

Aguirre said staking can improve the ETH treasury model by creating a recurring revenue stream, though its impact depends on whether the yield is large enough to offset operating costs, dilution and volatility. 

He added that staking-enabled ETH ETFs could become a future pressure point for treasury companies, but described them as “more complementary than existential threats.” 

Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves

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Hyperliquid (HYPE) Surges to Record $65 as ETF Assets Top $89 Million

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Hyperliquid (HYPE) Price

Key Highlights

  • HYPE reached an unprecedented peak of approximately $65 on May 26, 2026.
  • Bitwise’s BHYP exchange-traded fund accumulated $40 million in assets in slightly more than one week.
  • Total ETF capital inflows for HYPE touched $89 million across nine days, averaging approximately $9.2 million daily.
  • The platform introduced macro-focused prediction markets covering CPI data and Federal Reserve rate decisions.
  • Open interest on Hyperliquid surged to $8.5 billion, positioning it as the world’s third-largest derivatives trading platform.

Hyperliquid’s native HYPE token established a fresh record high approaching $65 on May 26, propelled by robust institutional demand through exchange-traded funds and the platform’s debut of prediction market functionality.

Hyperliquid (HYPE) Price
Hyperliquid (HYPE) Price

Bitwise’s Chief Executive Officer Hunter Horsley revealed that the BHYP ETF processed $12 million in trading activity within the first two hours of market operations on that date. The investment vehicle now manages $40 million in total assets just over a week following its market debut.

An analyst account from Coin Bureau shared insights on X regarding Bitwise’s aggressive accumulation strategy: “Bitwise bought another 162,367 $HYPE, worth about $10.1M, over the past 2 hours. Based on its official website, Bitwise already held 723,361 HYPE, worth around $40.4M, as of May 21, 2026.” The data illustrates the remarkable speed at which institutional capital has entered this digital asset.

Total capital flows into both Bitwise’s BHYP and 21Shares’s THYP products reached $89 million within a nine-day period — representing one of the most rapid ETF accumulation trajectories observed across cryptocurrency investment vehicles.

Grayscale appears to be building a HYPE position as well, presumably in preparation for its own ETF product launch. Market analyst Havoc forecasted that the forthcoming Grayscale GHYP offering might contribute an additional $8 million to $12 million in daily capital flows, potentially purchasing between 8% and 33% of HYPE’s available supply annually.

Institutional Demand Fuels Continued Rally

HYPE has maintained ongoing price discovery mode since ETF products commenced trading. The digital asset advanced from its previous breakout zone around $59.40 and touched $64.50 before continuing its ascent.

Source: TradingView

Assuming HYPE maintains support above the $59.40 level, Fibonacci extension analysis suggests potential resistance zones at $76, $89.50, and $101. Derivatives market data revealed combined open interest nearing $2 billion, with funding rates hovering around 0.004%, signaling bullish market positioning.

Cryptocurrency analyst Byzantine General observed that Hyperliquid’s cumulative exchange open interest climbed to $8.5 billion, securing the third position globally after Binance and Bybit. The platform’s market share for open interest achieved 7.2%, establishing a new milestone.

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Blockchain data indicated Hyperliquid received more than $1.1 billion in net capital inflows throughout the preceding month.

Platform Debuts Macro Prediction Markets

Coinciding with HYPE’s record price achievement, Hyperliquid unveiled new macroeconomic prediction markets. The initial two offerings concentrate on year-over-year May Consumer Price Index figures and potential Federal Reserve funds rate adjustments at the upcoming June Federal Open Market Committee gathering.

The CPI-focused market registered $8,000 in trading volume with $48,000 in open interest. The Fed rate market recorded $600 in volume alongside $13,200 in open interest. Platform validators additionally greenlit a sports prediction market centered on the Champions League final match.

These new markets complement the previously launched HIP-4 market series, which features a Bitcoin daily price movement market that has generated $578,000 in trading volume and $180,000 in open interest.

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The combined assets under management for HYPE ETF products stood at $89 million as of May 26, 2026.

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Sharplink, Gemini Among Crypto Firms Eyed for Russell Indexes

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Sharplink, Gemini Among Crypto Firms Eyed for Russell Indexes

A range of crypto companies have been included in a preliminary list for potential inclusion in the Russell 3000 index, including treasury firms Sharplink and Forward Industries, along with crypto exchange Gemini and crypto services firm Galaxy Digital. 

A preliminary index inclusion list for the Russell 3000 was published by the index’s provider, FTSE Russell, on Friday. The index tracks the 3,000 largest companies in the US and requires a market capitalization of at least $146.4 million.

Sharplink has a market cap of $1.2 billion, and the company’s CEO, Joseph Chalom, said in a statement on Tuesday that it means the firm could be included in the Russell 2000, an index that tracks the largest 2,000 publicly traded US companies.

Inclusion in the indexes is widely viewed as a boon for those added, as many active and passive funds, including exchange-traded funds, typically buy stocks included in the index.

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Chalom said that joining the Russell indexes would broaden the company’s shareholder base and strengthen its access to capital markets.

Source: Joseph Chalom

Forward Industries’ chief investment officer, Ryan Navi, said the Solana treasury company is also eligible for the Russell 2000 Index, as its market cap sits at about $350 million.

“We believe index inclusion will expand our shareholder base, improve trading liquidity, and increase visibility among long-term institutional investors,” Navi said.

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FTSE Russell will provide further list updates on June 5, June 12 and June 18. The newly reconstituted indexes will take effect after the US market closes on June 26.

Related: Bitcoin price lags bullish US tech stocks: Is there a silver lining?

Ether treasury company Bitmine Immersion Technologies was included in a preliminary list for potential inclusion in the Russell 3000 index. Chairman Tom Lee flagged possible inclusion in the Russell 1000, an index tracking the largest 1,000 US companies, due to Bitmine surpassing the index’s minimum market capitalization threshold of $5.7 billion.

Galaxy Digital’s market cap of $11.55 billion also makes it eligible for the Russell 1000, while Gemini’s estimated $571 million makes it eligible for the Russell 2000.

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Being added to the Russell 1000 would place Galaxy and Bitmine alongside major US large-cap equities, including tech giants Nvidia, Microsoft, Apple, and Alphabet, the parent of Google.

Magazine: Polymarket seeks Japan entry, Harvard dumps entire ETH position: Hodler’s Digest, May 17 – 23   

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How Kyrgyzstan is Becoming the Switzerland of Crypto

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How Kyrgyzstan is Becoming the Switzerland of Crypto

Kyrgyzstan has launched a state stablecoin backed by physical gold, built its own gold vault, and brought Binance founder Changpeng Zhao into its crypto policy circle.

Zhao, widely known as CZ, now holds a Kyrgyz passport and serves as an adviser to the country’s president, according to Arsen Edilbek uulu, co-founder of KYTLABS and head of fintech consulting in Kyrgyzstan.

Speaking to BeInCrypto Editor-in-Chief Vladimir Arkhireysky, Arsen said Kyrgyzstan is trying to position itself as a regional crypto hub with lighter regulation, banking support, and infrastructure for tokenized real-world assets.

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The country’s approach stands out in the region. While Russian regulators continue to move cautiously, Kyrgyzstan is building state-backed crypto products and trying to attract global players.

Kyrgyzstan Launches Two State Stablecoins

According to Arsen, Kyrgyz President Sadyr Japarov is deeply involved in the country’s crypto market strategy and understands the sector well.

The government has worked with major market participants and is trying to create clear mechanisms for crypto companies to operate in the country. 

As part of this strategy, authorities decided to develop a state stablecoin.

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The Ministry of Finance received a budget of about $100 million to buy physical gold. That gold was placed into reserves and used as backing for a dollar-equivalent token.

The stablecoin is backed by physical gold held in a new Kyrgyz gold vault, which Arsen described as a local version of “Fort Knox.” The token is fully owned by the Ministry of Finance.

A second stablecoin is backed by Kyrgyzstan’s national currency, the som. It was launched in partnership with Binance on BNB Smart Chain.

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That project falls under the National Agency for Virtual Assets and the National Council for Virtual Assets. CZ is a member of that council.

New Gold Vault Could Support RWA Projects

Kyrgyzstan has also built a large gold storage facility. Arsen said the vault has enough capacity to hold reserves from neighboring countries.

He estimated that Kyrgyzstan’s own gold and foreign exchange reserves would take up less than 10% of the facility.

The government’s broader goal is to turn the country into a hub for real-world asset projects. These projects could store physical gold in Kyrgyzstan and issue tokens backed by those reserves.

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Arsen said the strategy comes as Switzerland is losing some of its appeal as a neutral storage hub. In his view, geopolitical shifts have made Switzerland appear more politically aligned than before.

For Kyrgyzstan, this creates an opening. The country wants to offer gold storage, token issuance, and a friendlier regulatory environment for crypto and RWA companies.

Binance became one of the first major partners in this effort. The initial focus was to use BNB Smart Chain for tokens backed by the national currency.

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CZ’s Role in Kyrgyzstan’s Crypto Strategy

CZ now works as an unpaid adviser to the president of Kyrgyzstan, Arsen said.

Under local rules, only citizens of the Kyrgyz Republic can serve as presidential advisers. That means CZ has a Kyrgyz passport.

Arsen said the government’s decision to bring in Binance and CZ was part of a deliberate strategy. The president’s team tracks global crypto trends and looks for organizations that see Central Asia as an important growth region.

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Kyrgyzstan is also trying to differentiate itself from Kazakhstan.

Kazakhstan has the Astana International Financial Centre, which operates under a legal structure based on English law. Arsen said that the model creates more complications for the crypto market under current conditions.

Kyrgyzstan chose a softer regulatory approach. The goal is to give companies room to test the region while giving local banks time to prepare for deeper crypto integration.

Banks Prepare for Crypto Custody

Arsen said the cost of maintaining a license for a virtual asset service provider, broker, or securities dealer in Dubai can exceed $1 million per year.

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In Kyrgyzstan, he said, the cost is several dozen times lower while offering comparable opportunities.

He also said crypto companies often face banking refusals in Dubai. In Kyrgyzstan, banks are more willing to serve them.

The country is now preparing changes to its banking law. These changes would allow banks to interact with virtual assets and act as custodians.

Arsen expects the reforms to bring larger players into the market. He also said bank apps could soon include Tether-based transfer systems.

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Crypto Is Already Entering Banking Apps

Some Kyrgyz banks have already added crypto purchases to their mobile apps. Arsen said about three banks currently offer this function.

Legally, the bank does not sell crypto directly. Instead, it works through a third-party partner.

When a client agrees, the bank transfers the client’s personal and KYC data to the partner. The partner then opens a crypto account for the user.

Through these banking apps, users can buy major assets such as Bitcoin and Ethereum. Stablecoins, including USDT, are also available.

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How Ordinary Users Use Crypto

Kyrgyz citizens use crypto for investment and foreign trade, according to Arsen.

Some also use USDT while traveling or making payments in China. Instead of carrying cash, they convert funds into USDT and later exchange it for local currency in the destination country.

Several Kyrgyz banks are also working on crypto cards. These products are being developed under the central bank’s regulatory sandbox.

Meanwhile, Kyrgyzstan’s local payment system, Elkart, is integrating with China’s WeChat. Arsen said this could eventually open access to more than 60 countries in Asia.

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For now, Kyrgyzstan’s strategy is clear. The country wants to use crypto regulation, banking access, and gold-backed infrastructure to become a regional digital asset hub.

The post How Kyrgyzstan is Becoming the Switzerland of Crypto appeared first on BeInCrypto.

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Crypto PACs spend $9 million in Texas and score wins in both parties

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Crypto PACs spend $9 million in Texas and score wins in both parties

Crypto-focused political committees are flexing their growing bipartisan political muscle in Texas, spending more than $9 million on races this cycle as Tuesday’s primaries deliver a string of wins for industry-backed candidates across both parties.

Houston Democrat Christian Menefee defeated fellow Democrat Rep. Al Green in the Democratic primary runoff for Texas’s 18th Congressional District, after Republican-led redistricting dismantled Green’s longtime seat and forced the House Financial Services Committee member into a rare incumbent-on-incumbent showdown.

Green had earned an “F” from crypto advocacy group Stand With Crypto after opposing key industry-backed legislation and warning that cryptocurrency could erode U.S. financial leverage abroad.

“Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences,” Geoff Vetter, a Fairshake spokesperson, told CoinDesk. “Fairshake was the difference-maker in this race, and we will continue to aggressively back leaders like Rep. Menefee across the country.”

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In the Republican Senate primary, Texas Attorney General Ken Paxton toppled longtime Sen. John Cornyn. In other races, Fairshake’s Republican affiliate, Defend American Jobs, and its Democratic counterpart, Protect Progress, backed candidates on opposite sides of the aisle, while the separate crypto-focused Fellowship PAC supported Paxton to the tune of $500,000.

Elsewhere in Texas, Defend American Jobs spent roughly $1.8 million backing four winning Republican candidates: Jon Bonck ($348,433), Tom Sell ($426,279), Carlos De La Cruz ($581,172) and Alex Mealer ($436,278). All four were low-turnout runoffs where the eventual nominee is typically heavily favored in November, making them efficient targets for a well-capitalized political network.

Texas had only one night of primaries, but Tuesday’s results suggest the crypto industry is already positioning aggressively with a well-capitalized war chest for the 2026 midterms, when Democrats are favored — by a slim margin — to sweep both the House and Senate.

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Ethereum Bull David Hoffman Shares Why He Sold His ETH

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Ethereum Bull David Hoffman Shares Why He Sold His ETH

David Hoffman, an Ethereum advocate and the co-founder of the media company Bankless, says he sold the remainder of his Ether (ETH) holdings last week as he believes the “ETH is Money” thesis has largely “played out.”

Hoffman said in an X post on Tuesday that “Ethereum got the ETH price it deserves, and I don’t see ETH being rerated as an asset, higher or lower.”

Hoffman said that Ethereum “has done incredibly well, and deserves the market cap that it has,” but the “window of opportunity for ETH to be ‘rerated’ by the market seems to be closing.”

“ETH is, to some degree, money. But not the maximally successful version that we collectively sought out to achieve.”

The “ETH is Money” thesis believes the token is a superior store of value compared to fiat money, as it is decentralized and has introduced mechanisms to try to combat inflation, or the amount of new tokens being created.

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Many Ether backers believed the token could reach the high five-figures, but ETH reached an all-time high of just below $5,000 in August, about equal to its previous bull market peak during the last cycle. It has since dropped by almost 60% from its all-time peak to trade around $2,000.

ETH prices have been largely rangebound for five years. Source: TradingView

Hoffman, a long-time Ethereum bull who has written extensively on investment cases for Ether, announced selling his entire ETH holdings, the value of which he did not disclose, on May 21.

He said that Ethereum is a “giver, not a taker,” providing secure blockspace and tokenization at cost while the blockchain’s layer-2 networks capture most of the fees and benefit.

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“Ethereum takes no markup for anything it does. This is the nature of open source software, and this is the power of Ethereum. Ethereum supplies its full set of incredibly important values to the world… at cost.”

Hoffman reiterated that he is “massively bullish” on Ethereum, expecting that the network will do “exceptionally well from here on out,” but only a “marginal amount” of that success will be reflected in its token.

Related: Tom Lee predicts supercycle amid Bitmine’s largest Ethereum buy in 2026

Hoffman’s sale saw mixed reactions from ETH backers, with Bankless co-founder Ryan Sean Adams saying it was the “end of an era.” 

Former Ethereum core developer Eric Connor said he didn’t really blame Hoffman because ETH has “grossly underperformed the general crypto market for many years now.”

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He attributed the lag mainly to selling pressure from the large number of millionaires created during its explosive early run-up rather than fundamental protocol shortcomings.

“At the end of the day, maximalism to a single coin when it comes to portfolio management is pretty silly,” he said. 

Magazine: Polymarket seeks Japan entry, Harvard dumps entire ETH position: Hodler’s Digest

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Bitcoin Mining Stocks Soar as Semiconductor Boom Drives AI Infrastructure Demand

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WULF Stock Card

TLDR

  • Cryptocurrency mining equities rallied strongly Tuesday, with TeraWulf climbing as much as 17% while Hut 8, IREN, and Riot Platforms each advanced over 5%.
  • The rally accompanied the S&P 500’s push past 7,500 to new record territory, driven by a 5.6% jump in the Philadelphia Semiconductor Index, which has surged nearly 77% in 2025.
  • Bernstein analysis shows 11 publicly listed Bitcoin mining companies command approximately 27 gigawatts of existing and planned electrical capacity, positioning them as key players for AI data center expansion.
  • IREN’s partnership agreement with Microsoft could generate approximately $3.7 billion in annual revenue for its AI cloud services division, according to Bernstein’s estimates.
  • Industry observers caution that Bitcoin network security may face heightened concentration risks as major miners transition to AI operations, though hybrid models combining both activities appear most viable.

Cryptocurrency mining equities posted substantial gains Tuesday as a powerful rally in chip and technology stocks boosted investor enthusiasm throughout the industry. Market participants increasingly recognize crypto mining operations as emerging participants in the artificial intelligence infrastructure expansion.

Semiconductor Rally Powers Mining Stock Advances

TeraWulf topped the sector’s performance, surging as much as 17% following its announcement of acquiring a Kentucky-based data center facility. Hut 8, IREN, and Riot Platforms each finished the trading session with gains exceeding 5%.


WULF Stock Card
TeraWulf Inc., WULF

These advances occurred as the S&P 500 established new all-time highs, breaching the 7,500 threshold for the first time ever. The Philadelphia Semiconductor Index posted a robust 5.6% gain and has now appreciated nearly 77% since the start of the year.

Market enthusiasm for mining companies has intensified as additional firms announce intentions to redirect their electrical infrastructure toward high-performance computing and artificial intelligence applications. These operations are perceived as potentially offering greater stability and profitability compared to cryptocurrency mining as a standalone business.

Bernstein’s analysis identified that 11 publicly traded Bitcoin mining enterprises collectively possess roughly 27 gigawatts of current and anticipated electrical capacity. Industry experts argue that dependable electricity access — rather than chip availability — is emerging as the primary constraint for expanding AI infrastructure.

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This situation positions mining companies advantageously to function as strategic collaborators for hyperscale cloud providers and artificial intelligence firms seeking established power and data center capabilities.

IREN exemplifies a mining operation already executing this transformation. The firm recently finalized a partnership with Microsoft that Bernstein projects could generate an annual revenue run rate approaching $3.7 billion for its AI cloud infrastructure operations.

Bitcoin Price Dynamics and Industry Transformation

While the AI transformation has elevated mining stock valuations, Schwab analysts observe it simultaneously introduces questions regarding Bitcoin’s underlying fundamentals.

Mining operations have traditionally established a pricing floor for Bitcoin. When Bitcoin prices approach or fall below production costs for less efficient operators, it has historically indicated downside support levels. Glassnode figures from May 2026 position inefficient miner production expenses at approximately $95,000.

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Bitcoin previously reached a peak of $126,000 before declining to roughly $60,000, a threshold that aligned closely with the 200-week moving average and efficient miner production costs during that period.

Schwab’s research team highlights that as prominent mining companies redirect resources toward AI applications, the quantity of active Bitcoin miners supporting the network may decrease. This creates increased concentration among the remaining mining participants, which analysts suggest could theoretically elevate transaction censorship risks or compromise network security over extended timeframes.

Nevertheless, most industry analysts anticipate a hybrid operational model will dominate. Bitcoin mining operates continuously around the clock and can utilize capacity during off-peak periods when AI inference demand diminishes. Inference workloads are forecast to constitute over 50% of worldwide data center demand by 2030, though this demand concentrates during standard business hours.

In operational terms, analysts envision miners employing Bitcoin mining as continuous baseline activity while layering AI inference tasks during high-demand periods — an approach that diversifies revenue streams and mitigates the cyclical volatility that has historically challenged the sector.

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Schwab assigns Bitcoin a more favored rating among digital currencies and maintains a neutral stance on Ether, while designating XRP and Solana as less favored alternatives.

Regarding governmental backing, Schwab observes that 28 U.S. states are currently evaluating strategic Bitcoin reserve programs. New Hampshire, Arizona, and Texas have already enacted legislation creating such reserves.

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Bitcoin Four-Year Cycle Not Dead, Benjamin Cowen Says BTC Bottom Likely in October 2026

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Bitcoin Four-Year Cycle Not Dead, Benjamin Cowen Says BTC Bottom Likely in October 2026

Bitcoin’s four-year cycle is alive and well, says Benjamin Cowen, founder of Into the Cryptoverse. The current top arrived within a week of historical timing, and the next bottom should follow in Q4 2026.

The analyst dismisses claims that spot ETFs, corporate treasury demand, and a Bitcoin reserve narrative have broken the pattern. Every previous cycle saw similar narratives fail before the bear market arrived anyway.

Topped When It Always Tops

In a new video, the founder of Cryptoverse pushed back on the wave of analysts declaring the cycle dead.

“Bitcoin topped within one week of when it historically tops, despite the narratives for calling the four-year cycle dead.”

The two previous cycles topped on day 1,059 and day 1,168 from the prior low. The current cycle topped on day 1,162.

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Bitcoin trades near $75,650, down about 40% from its October 6 record of $126,080.

Benjamin Cowen Points Bitcoin Highs and Lows. Source: YouTube

Apathy Top Does Not Cancel a Bear Market

Critics argue Bitcoin topped on apathy rather than euphoria, breaking the historical pattern. Cowen turned to S&P 500 data from 1962 to 1982. He says the four-year low cycle held even when index tops looked nothing like a blow-off.

“Topping on apathy doesn’t mean you don’t have a bear market, because you can see how in the past the stock market topped on apathy arguably and it still had a bear market.”

He sees the current counter-trend rally as weaker than the 46% bounce off the 2022 low. The 16-week run also sits inside the 15 to 25 week range seen in prior midterm-year recoveries.

Bitcoin Market Cycle Bottom ROI. Source: IntoTheCryptoverse

Benjamin Cowen: The Invalidation Scenario

Cowen acknowledges the call could be wrong, but argues the burden of proof sits with the bulls.

“To pretend like it’s different this time because of some narrative on Wall Street would be the same mistake that people fell for last cycle and the cycle before that.”

Even in a softer outcome, he expects Bitcoin to revisit $60,000 later this year. Any durable bull market would only resume after that test.

His base case for the cyclical low is October 2026. That aligns with the midterm year pattern seen in 2014, 2018 and 2022. It also matches recent analyst predictions for the same bottoming window.

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Elon Musk Grok AI Predicts Bitcoin Price by End of JUNE 2026

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Elon Musk Grok AI Predicts Bitcoin Price by End of JUNE 2026

Every other AI in this series swung for the fences on Bitcoin price. Grok AI went the other direction and gave the most grounded near-term predicts yet.

$82,000 to $88,000 by end of June. A modest 8 to 15% recovery. No fireworks, just structure.

Grok’s reasoning is deliberately conservative and that is actually what makes it interesting. The bull case is not built on cycle peaks or institutional adoption narratives at scale. It is built on 3 things that are already visible in the data right now.

Source: Grok AI Predicts Bitcoin

Steady institutional ETF inflows are providing consistent demand without the volatility of retail speculation. Post-halving supply dynamics are tightening the supply of available coins as miners hold and long-term holders accumulate.

And improving risk sentiment is creating the macro backdrop for a modest recovery without requiring a full-blown euphoric cycle.

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Grok frames this as Bitcoin’s maturing market structure showing itself: consistent corporate and ETF demand absorbing supply and positioning price for steady upside rather than explosive moves as summer progresses.

The AI is essentially saying the days of 50% monthly candles are behind Bitcoin, and the reward for that maturity is a more reliable, less violent grind higher.

Bitcoin (BTC)
24h7d30d1yAll time

The bear case is equally measured. Persistent macro uncertainty, thin summer trading volumes, or failure to hold $75,000 support could lead to choppy consolidation in the mid-$70,000s.

Grok is explicit that a sharp decline remains unlikely given strong underlying bid support. The overall verdict: cautious optimism for modest gains by June 30, setting a solid foundation for stronger momentum later in the year.

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Grok AI Predicts $85,000 by June 30: The Chart Shows That Distance Is Smaller Than It Looks

Bitcoin is trading at $77,015 on the daily, pulling back from the recent $82,000 to $84,000 highs that marked the strongest recovery attempt since the February crash to $61,000.

The chart since that low has been a textbook accumulation structure: higher lows, gradual compression, and a series of increasingly serious tests of the $82,000 to $84,000 resistance zone that has defined the ceiling of the recovery range for 3 months.

The pullback from $84,000 to $77,000 over the past 2 weeks is the first meaningful retracement since the April recovery leg began, and it is now testing the $76,000 to $78,000 support zone that Grok identified as the critical hold level.

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This range has been the base of every recovery attempt since March, and losing it would confirm Grok’s bear case of choppy mid-$70,000 consolidation rather than the June breakout scenario.

Resistance sits at $82,000 to $84,000, the zone that has rejected 3 separate push attempts since the recovery began. Grok’s primary bull target of $85,000 sits just above that ceiling, meaning the prediction requires clearing the most persistent resistance on the chart.

Above $85,000, the path toward $88,000 opens, and the upper end of Grok’s target range comes into view. Support is $75,000 to $76,000, Grok’s explicit floor, with $72,000 as the next meaningful demand zone below that.

Grok’s $85,000 target is $8,000 above the current price with 35 days to get there. On a chart that covered $20,000 in 10 weeks earlier this year, that is not a stretch. It just needs the $76,000 floor to hold first.

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Discover: The best crypto to diversify your portfolio with

Grok Projects That Bitcoin Hyper Could Outperform Bitcoin Next

Some traders rotating between cycles are already looking past large caps entirely.

Bitcoin Hyper is positioning itself for that rotation. The project is building the first Bitcoin Layer 2 with Solana Virtual Machine integration, claiming sub-Solana latency while keeping Bitcoin’s security layer intact.

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Fast, low-cost smart contracts on Bitcoin without abandoning its trust model. That is a gap neither Ethereum nor Solana fills directly.

The presale has raised $32 million at $0.013679 per token with high APY staking available for early participants.

The risk profile is different here. Higher upside potential, earlier entry, and significantly more execution risk than anything trading on major exchanges. That tradeoff is the whole point.

Research Bitcoin Hyper here.

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XRP Price Prediction: Tomorrow’s XRP Ledger Update Could Send XRP Toward $10

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XRP is trading sideways, with no price prediction deciding on what its next move is. The XRP Ledger Foundation’s version 3.1.3 release introduces fixes across NFTs, permissioned domains, vaults, and the lending protocol, and operators have been urged to upgrade nodes immediately.

On May 8, the XRP Ledger Foundation announced on X that rippled v3.1.3 is available, a maintenance and bug-fix upgrade requiring no manual voting. The fixCleanup3_1_3 amendment bundles patches for non-fungible token logic, permissioned domain handling, vault mechanics, and the lending protocol.

It’s a housekeeping release, technically. But tomorrow’s mainnet upgrade could finally send XRP above its flatline zone.

XRP holds a $83 billion market cap, retaining its position as the world’s fifth-largest cryptocurrency, competing with BNB. With altcoin sentiment gearing toward a constructive phase, the upgrade lands at a moment when even a modest narrative shift could move the price.

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XRP Price Prediction: $10 Next?

As of now, $1.37 is the first meaningful resistance, with $1.39 as the next ceiling to crack. Short-term momentum reads as neutral, with intraday trend showing limited directional conviction.

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No breakout signal yet, but the range is coiled. The v3.1.3 upgrade could serve as a sentiment catalyst if it draws renewed developer and institutional attention to the XRPL ecosystem, particularly around its lending protocol and vault infrastructure.

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If XRP can clear $1.40 on upgrade momentum, it could target $1.90, and its long-range base scenario places XRP in the $10+ region in the long run.

However, a break below $1.30 would suggest the consolidation is resolving lower, negating near-term bullish setups entirely. The $10 headline target remains a multi-year thesis. This week’s upgrade is the foundation block.

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Bitcoin Hyper Is “The Upgrade” for BTC

XRP’s $82.6 billion market cap means even a double from current levels requires billions in fresh capital. It’s not impossible, but early-stage infrastructure plays offer asymmetry that large-caps structurally can’t.

Bitcoin Hyper is positioning itself at a category-defining intersection: the first-ever Bitcoin Layer 2 with full Solana Virtual Machine (SVM) integration. That means sub-second finality and fast smart contract execution built on top of Bitcoin’s security layer. Not on a sidechain compromise, but a genuine infrastructure bridge.

The project has raised close to $33 million at a current presale price of $0.0136, with 36% APY staking available for presale participants. The core thesis is breaking Bitcoin’s three core limitations. Slow transactions, high fees, and zero programmability, while preserving BTC’s trust model.

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Hyper also features a Decentralized Canonical Bridge for BTC transfers and high-speed, low-cost transaction execution via SVM integration.

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The post XRP Price Prediction: Tomorrow’s XRP Ledger Update Could Send XRP Toward $10 appeared first on Cryptonews.

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Donald Trump Calls 4 State Leaders “SCUM” in Push to Keep US the Crypto Capital

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Donald Trump's Post

President Donald Trump publicly defended the Commodity Futures Trading Commission’s (CFTC) exclusive authority over prediction markets, framing the regulatory turf war as central to keeping the United States ahead of foreign competitors in finance and crypto.

On May 26, Trump warned that rival countries want to displace the US as the global Bitcoin (BTC) capital. He added that prediction markets, a fast-growing asset class still being defined, face the same competition.

The CFTC’s Prediction Markets Push

Trump’s post praised CFTC Chairman Mike Selig directly, thanking him for steering the agency’s expanding authority over event contracts. Not to mention, Selig is the sole sitting commissioner of the typically five-seat CFTC.

Donald Trump's Post
Donald Trump’s Post. Source: Truth Social

The framing places prediction markets alongside Bitcoin as industries where regulatory clarity could decide whether the US keeps its lead. Kalshi was valued at $22 billion in a May 2026 funding round, signaling fast institutional adoption.

Monthly prediction market trading volumes have surpassed $20 billion, up from roughly $1.2 billion in early 2025. Yet, prediction markets’ legal status remains unresolved across several states.

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The post named Chris Christie, Letitia James, Tim Walz, and JB Pritzker as “SCUM,” driving the federal-state regulatory battle.

James joined 38 state attorneys general in April, backing Massachusetts in its lawsuit against Kalshi. The CFTC has filed cases against Arizona, Connecticut, Illinois, New York, and Wisconsin. The agency wants to block state gambling laws from reaching federally regulated venues.

Legal observers expect the dispute to reach the Supreme Court. Until then, the industry sits in regulatory limbo.

The post Donald Trump Calls 4 State Leaders “SCUM” in Push to Keep US the Crypto Capital appeared first on BeInCrypto.

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