Russian officials have moved closer to a long-term shutdown of crypto mining in Moscow and nearby regions as lawmakers have advanced a separate bill to jail unregistered miners.

According to TASS, Deputy Energy Minister Evgeniy Grabchak said a government commission overseeing the electric power industry has backed a proposal to ban mining in the city of Moscow, the surrounding Moscow Oblast, and parts of the Kursk region, with the restriction expected to last until at least 2032.

Local officials raised the issue in late April, the ministry said, and the final decision will take their positions into account, according to a report by RBC.

Moscow area faces proposed six-year prohibition

In Moscow Oblast, regional Energy Minister Sergey Voropanov has argued that crypto mining brings little benefit to the local economy and has said that earlier restrictions elsewhere produced positive results, according to reports cited by RBC and Bits.media.

Bits.media has also recalled that Moscow Oblast Governor Andrey Vorobyov and Moscow Mayor Sergey Sobyanin have both proposed limits on mining in their jurisdictions.

The Russian energy ministry has counted at least 65 data processing centers connected to the grid across Moscow and the Moscow region, with a total capacity of 734 megawatts, according to figures cited in the report.

A separate Kommersant report has said the government is weighing a mining ban across 19 regions within Moscow’s power distribution zone, a move that would curb activity across the Central Federal District, which Kommersant described as the country’s main economic center.

In the Kursk region, Governor Alexander Khinshtein has proposed restricting mining in eight districts and the city of Lgov, according to the same coverage.

Khinshtein’s administration has said the region’s power supply problems have worsened due to the war in neighboring Ukraine, and has argued that a mining ban would free up reserve capacity and save electricity for other users, including residential and industrial customers.

The planned limits in Kursk have been discussed alongside the Moscow-area proposal, as Russian authorities consider how to reduce strain on local grids in regions with heavy power demand.

State Duma advances bill to criminalize illegal mining

In Moscow, the State Duma has passed a bill on first reading that would criminalize illegal mining, according to RIA Novosti and Prime.

The draft law sets penalties for mining without registration or for using stolen electricity, with punishments that can include fines, forced labor, and prison terms, RIA Novosti and Prime have reported.

Operators whose illegal facilities generate large income or cause major financial damage could face fines up to 2.5 million rubles, or about $35,000, according to the same reports.

For mining tied to an organized crime group, the legislation allows prison sentences of up to 5 years, forced labor, and additional fines, while also granting authorities the power to confiscate property, RIA Novosti and Prime reported.

Tightening rules after mining was legalized in 2024

Russia legalized cryptocurrency mining in 2024, with officials describing the country’s energy resources and climate as advantages, according to prior reporting referenced in the article.

After miners clustered in places with cheap electricity, energy deficits followed in several areas, the same coverage said, and Russian authorities responded last year by banning mining in 13 regions until spring 2031.

Those territories include Irkutsk Oblast, the Republic of Buryatia, Zabaykalsky Krai, most republics in the North Caucasus, and four occupied Ukrainian regions, according to the report.

Although individuals and companies can mine legally if they register and pay taxes, an explanatory note to the draft law has said fewer than 1,500 of an estimated 50,000 mining businesses have registered so far.

Bitcoin broke below $73,000 for the first time in months as fresh U.S. strikes on Iran sent risk assets lower and triggered one of the largest liquidation events of the year.

Bitcoin BTC$72,753.98 traded at $72,978 in Asian hours Thursday, down 3.4% over 24 hours and 6.3% over the past seven days, per CoinDesk data, after touching a low of $72,912. TEther (ETH) fell 4.2% to $1,976, losing the $2,000 level, and is down 7.7% over the past seven days. Solana (SOL) dropped 3.5% to $80.57, XRP slid 3.6% to $1.28, and Dogecoin lost 3.2% to $0.0979.

Hyperliquid (HYPE) was the only major to hold a weekly gain, down 4.5% on the day but still up 2.4% over the past seven days. Tron (TRX) held a 1.9% weekly gain despite the broad decline.

The drop flushed leveraged traders. CoinGlass data shows $958.8 million in total liquidations over 24 hours across 167,706 traders, with $897 million coming from long positions and $61 million from shorts.

Bitcoin liquidations led at $386 million, followed by ether at $246 million, with the largest single liquidation order was a $15.34 million BTC position on Hyperliquid.

A 93% long-skew on a near-billion-dollar flush is what happens when traders are positioned for a recovery and the market moves the other way. The leverage built up through the mid-May range got cleared in a single session.

The trigger came from the Middle East. U.S. Central Command carried out airstrikes on an Iranian military site near the Strait of Hormuz and shot down four one-way Iranian attack drones fired at a commercial ship, with a U.S. official describing the action as defensive and aimed at maintaining the ceasefire that began last month.

The U.S. Treasury imposed new sanctions on Iran’s Persian Gulf Strait Authority, accusing it of extorting vessels transiting the strait. Iran targeted the American airbase the strikes originated from, according to a report citing the Islamic Revolutionary Guard Corps.

Kuwait said it was responding to hostile missile and drone threats, with its army warning that explosions heard in the country were air defense systems intercepting targets.

President Donald Trump said no single nation would control the waterway. “It’s international waters,” Trump told a cabinet meeting at the White House. “The strait’s going to be open to everybody,” adding that the U.S. would “watch over it.”

Risk assets fell across the board. The MSCI All Country World Index retreated 0.4% from a record high, a gauge of Asian shares dropped 1.7%, and futures for the S&P 500 and Nasdaq 100 pointed lower. Oil climbed as the strikes clouded the outlook for a deal to reopen the strait.

The reaction shows how quickly the ceasefire optimism that had been building unwound. Crypto had held its range through several weeks of Iran headlines, with bitcoin staying above $74,000 even as ETF demand cooled. Thursday’s strikes broke that floor, and the speed of the liquidation cascade suggests traders were caught leaning the wrong way.

SpaceX has emerged as a potential major public Bitcoin holder as Grayscale Research links the company’s planned June listing to its reported BTC treasury

Grayscale Research said Elon Musk’s SpaceX could rank as the largest publicly traded diversified company with Bitcoin on its balance sheet if its planned public listing takes place in early June.

Grayscale says SpaceX could lead diversified Bitcoin holders

Zach Pandl, head of research at Grayscale, said SpaceX currently holds 18,712 Bitcoin, worth about $1.4 billion, based on the company’s latest S-1 filing. According to Pandl, those holdings would place SpaceX as the eighth-largest known corporate Bitcoin holder worldwide.

Pandl added that prediction market estimates around SpaceX’s possible post-IPO valuation could make the company the top publicly traded diversified business holding Bitcoin. Strategy Inc. would still be ahead of other public companies with much larger Bitcoin positions.

Grayscale’s report separated corporate Bitcoin buyers into two main groups. The first group includesDigital Asset Treasuries, such as Strategy, that primarily provide equity investors with exposure to Bitcoin. The second group includes diversified companies such as Tesla, Coinbase, and Block, in which Bitcoin is part of a broader treasury strategy.

Bitcoin would remain small part of SpaceX valuation

According to Grayscale Research, SpaceX is reportedly seeking a valuation close to $1.75 trillion, which could make the listing one of the largest IPOs ever. Pandl estimated that the company’s Bitcoin holdings would equal about 0.1% of its expected market capitalization.

Because of that small share, Grayscale placed SpaceX in the diversified corporate holder category rather than the Bitcoin treasury company category. The report also noted that Tesla, another Musk-led company, holds more than 11,500 BTC.

Meanwhile, Strategy remains the largest corporate Bitcoin holder, with about 850,000 Bitcoin valued near $65 billion, according to Grayscale’s figures. Pandl said diversified companies usually keep Bitcoin as a limited part of company value, unlike dedicated treasury firms.

Retail interest builds around planned listing

According to Stocktwits, retail sentiment around SPCX remained in the “extremely bullish” zone, while message activity also remained at “extremely high” levels over the past day. The strong discussion came as investors watched SpaceX’s expected June public market debut.

Grayscale Research said more diversified companies could add Bitcoin to their treasuries over time. The firm tied that view to treasury diversification and concerns about fiat currency risk.

Musk pushes GrokaAI, and banks prepare IPO deal

In related developments, Musk urged investors to subscribe to GrokaAI to support the SpaceX IPO campaign. As previously reported by crypto.news, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are serving as active bookrunners for the deal.

International banks, including Royal Bank of Canada, Mizuho Financial Group, and Macquarie Group, are also involved in share distribution across their markets. Musk separately asked the banks working on the offering to advertise on X.

Apple is being re-rated as an AI winner on the back of “agentic” iPhone and Mac ecosystems rather than frontier models, and the next question is whether on-device agents eventually plug into tokenized payments and assets.

Apple’s perceived AI weakness, a sluggish Siri upgrade cycle and no marquee in-house foundation modeL, is being reframed as a strategic strength built around the iPhone and Mac as “agentic AI” hubs. In a recent investor note, Bank of America technology analyst Wamsi Mohan argued that Apple’s control of silicon, operating systems and the services stack gives it an “agentic AI moat,” because the value in an AI agent world accrues less to the model and more to the platform that owns intent, identity and payments. “In an agentic world, value accrues to the platform that controls user intent, personal context, app access, permissions, identity, authentication, payments, and trust,” he wrote, adding that the smartphone is “the scaled consumer device where these factors already converge.”

Mohan’s thesis is simple: if AI assistants become the new front door for search, apps, commerce, scheduling, payments and workflow completion, then the device and ecosystem that intermediate those interactions will hold leverage over model providers, app developers, merchants, advertisers and payment networks. Apple, with the iPhone at the center of a tightly integrated ecosystem and the Mac emerging as a go-to workstation for AI, looks uniquely positioned to capture that choke point. On the back of that argument, he maintained a Buy rating on the stock and raised his price target from $330 to $380, implying about 20% upside from Apple’s roughly $312.69 level in recent trading.

Agentic AI meets the iPhone – and eventually tokenization

Agentic AI, in this framing, is not just “smarter Siri.” It is a layer of semi-autonomous and fully autonomous digital helpers that live across devices and constantly execute tasks: sorting files, reading email, booking travel, managing subscriptions, triaging notifications and, crucially, initiating and settling payments. Mohan notes that “Apple does not need to own the best frontier model if it owns the trusted interface that routes intent across local models, Apple-controlled cloud models, external models, and app actions.” That interface is the iPhone, fortified by secure enclaves, biometric identity, App Store curation and a deeply entrenched payments stack in Apple Pay and Apple Cash.

As AI agents are given more autonomy over money flows from paying bills, moving savings, refinancing loans, rebalancing portfolios, topping up stablecoins, the underlying financial rails matter. The same GENIUS-Act style logic that is now being used to define compliant, fully reserved stablecoins and tokenized deposits for institutions points toward a future where “money” inside an agentic Apple ecosystem is not just a bank balance, but a collection of tokenized claims: regulated stablecoins, tokenized Treasuries, tokenized card receivables, even tokenized Apple services credits. Apple already controls identity, authentication and payments; plugging tokenized instruments into that stack is not a philosophical leap, it is an implementation detail. In that world, the moat is not just AI, but AI plus tokenized, programmable value moving through a closed, trusted interface.

Mac Mini, Mac Studio and the hardware side of the moat

This shift is not theoretical on the hardware side. While the iPhone is the obvious agentic endpoint, Apple’s Macs are already functioning as agent workhorses. The Mac Mini and Mac Studio, powered by Apple Silicon and priced aggressively relative to competing AI-capable desktops, have been selling out as developers and power users adopt them as local agent platforms. Tim Cook underscored this dynamic on Apple’s latest earnings call, calling the Mac Mini and Mac Studio “amazing platforms for AI and agentic tools” and noting that “customer recognition of that is happening faster than what we had predicted,” leading to higher-than-expected demand and several months of anticipated supply-demand imbalance.

That hardware story matters for tokenization too. If developers are building agents on Mac that will eventually run on iPhone, those agents will need to integrate with whatever financial primitives regulators allow at scale: bank APIs, card networks, and increasingly, compliant tokenized instruments. Apple’s incentive is to keep that complexity invisible to the user while keeping the trust layer entirely under its control. For investors staring at a $312 share price and a $380 target, the question is whether the market is properly pricing not just Apple’s agentic AI positioning, but the second-order effect of becoming the default interface for tokenized money and assets in a world where agents do most of the transacting.

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An attacker minted more than 5.4 trillion vsdCRV on Arbitrum after a suspected compromise of a StakeDAO-linked deployer key, though thin liquidity limited the realized proceeds to about $91,000.

Blockchain security firm PeckShield said Wednesday the attacker swapped part of the minted vsdCRV for 43.7 Ether (ETH), worth about $91,000, and bridged the funds to Ethereum. Onchain analyst EmberCN said the attacker swapped about 16.83 million vsdCRV, while the remaining tokens had little meaningful liquidity to exit.

EmberCN estimated the 5.4 trillion vsdCRV at about $763 billion on paper, though the figure does not represent the attacker’s realized profit or the protocol’s confirmed loss.

The incident highlights the gap between nominal token values and extractable value in decentralized finance exploits, where attackers can mint enormous token amounts but only cash out what available liquidity allows. In this case, the attacker’s proceeds were limited by the small size of vsdCRV liquidity pools.

StakeDAO said it was aware of the incident and warned its users not to interact with vsdCRV.

Stake DAO said it was aware of the incident. Source: Stake DAO

Incident points to a deployer-key compromise 

Shalev Keren, chief product officer and co-founder of crypto key-management firm Sodot, told Cointelegraph that the StakeDAO incident was “structurally similar” to other deployer-key compromises seen this year, including the Wasabi incident last month, which drained about $5.5 million in crypto. 

Keren said a single StakeDAO deployer key on Arbitrum was used to repoint the vsdCRV cross-chain bridge configuration to an attacker-controlled contract on Ethereum. About 25 seconds later, that contract sent a LayerZero message back to Arbitrum, causing the legitimate Arbitrum token to mint more than 5 trillion vsdCRV to the attacker.

Related: Crypto hackers stole $17B over past 10 years: DefiLlama

“There is no smart contract bug here and no flaw in LayerZero,” Keren said. “There is one private key, controlling one privileged configuration function, with no multi-signature and no delay between the configuration change going through and the mint clearing onchain.” 

Keren said the broader issue for DeFi protocols in 2026 is no longer only whether contracts are audited, but whether the operational keys behind those contracts remain single points of failure. 

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

JPMorgan Chase CEO Jamie Dimon has said the bank could spend as much as $20 billion on a major acquisition over the next two years if the right target appears.

According to CNBC, Dimon made the comments on Wednesday during a fireside chat at the Bernstein Strategic Decisions Conference, where he said JPMorgan may have the opportunity to invest between $10 billion and $20 billion in buying another company.

Dimon sets conditions for any deal

During the conference, Dimon said JPMorgan would not pursue a takeover simply because it has the balance sheet to do so. Per CNBC, he said any company bought by the bank would need to fit properly inside JPMorgan’s existing operations and culture.

Dimon also pushed back against the idea that acquisitions should replace day-to-day business growth. CNBC quoted him as saying he did not want to hear only about mergers and acquisitions, but about work being done in sales, branches, technology, profits, products, and services.

The JPMorgan chief described dealmaking as a last-resort tool, according to the report. He said companies that lean too heavily on acquisitions may be using them to cover weak internal growth.

First Republic remains JPMorgan’s largest recent deal

Under Dimon, JPMorgan has completed several major purchases, though none have reached the $20 billion level he discussed at the conference. In 2023, JPMorgan acquired a substantial majority of First Republic Bank’s assets for $10.6 billion after regulators seized the lender. The deal expanded JPMorgan’s deposits and wealth management business.

During the 2008 financial crisis, JPMorgan bought Bear Stearns for about $1.4 billion and acquired Washington Mutual’s banking operations for $1.9 billion. Those transactions added scale to the bank’s investment banking and consumer banking franchises.

Other deals under Dimon include JPMorgan’s purchase of the remaining stake in U.K. broker Cazenove for about $1.7 billion in 2009, fintech firm WePay for roughly $220 million in 2017, and healthcare payments company InstaMed for more than $500 million in 2019.

JPMorgan also tracks digital finance trends

The acquisition comments came as JPMorgan continues to publish research on changes in digital finance and payments.

As previously reported by crypto.news, JPMorgan said in a May 21 report that tokenized funds account for only 5% of the stablecoin market supply, even though they offer higher yields.

According to the bank’s report, stablecoins remain the main cash tool across crypto trading, collateral use, and payments. JPMorgan said stablecoins hold that role because they are already built into centralized exchanges, DeFi protocols, and cross-border payment systems.

The same report said tokenized funds face more friction because users must go through subscription and redemption steps. JPMorgan said those extra steps limit their use in fast on-chain activity.

The CFTC has moved a proposed rule on prediction-markets event contracts into White House review as federal and state officials fight over who should police the fast-growing sector.

Bloomberg first reported that the proposal is now before the White House Office of Management and Budget, a step that precedes the Commodity Futures Trading Commission’s release of the plan for public comment. The details have not yet been published.

CFTC pushes toward event contract rules

The proposed rule is expected to draw from a CFTC consultation held in the spring, which attracted more than 3,000 public comments. Those responses covered insider trading, barred contracts, market safeguards, and the legal structure around event contracts.

If adopted, the rule would give the US its first full federal framework for prediction-market contracts. It could also affect how platforms such as Kalshi and Polymarket serve US users, especially as the industry faces rising legal pressure from state regulators.

At the center of the issue is whether contracts tied to elections, sports, and public events should be treated as federally regulated derivatives or as gambling products subject to state law.

States challenge federal control

Nevada, New Jersey, Maryland, Ohio, Montana, Illinois, and other states have taken action against prediction-market operators. State officials have argued that some contracts resemble sports betting or other gambling products and should follow local gaming, tax, and consumer-protection rules.

Kalshi and other operators have said their event contracts are allowed under the Commodity Exchange Act. State regulators have rejected that view in several disputes, saying federal approval should not block enforcement of state gambling laws.

The question is now moving through the courts, where judges have split on whether CFTC jurisdiction overrides state gaming authority. Those cases could shape how much room states have to regulate platforms that list event-based contracts.

Pritzker criticizes Trump over prediction markets

President Donald Trump entered the dispute on Tuesday, publicly supporting Brian Selig and arguing that the CFTC should have exclusive authority over prediction markets. Trump said the issue was “critically important” and framed federal control as necessary for clear national rules.

In his post, Trump also attacked former New Jersey Governor Chris Christie, New York Attorney General Letitia James, Minnesota Governor Tim Walz, and Illinois Governor JB Pritzker. Trump said his administration was setting “rules of the road” for states and used harsh language against the officials. 

Illinois Governor JB Pritzker responded on X, saying that Illinois had taken action to stop and ban insider trading in online prediction markets. Pritzker accused Trump of trying to stop states from regulating the sector so people close to him could benefit.

Illinois took action to prevent and ban insider trading with online prediction markets in our state.

The most corrupt President in our nation’s history wants to make sure states like ours can’t regulate prediction markets so his family and administration can keep profiting. pic.twitter.com/JZyS3aqNfA

— Governor JB Pritzker (@GovPritzker) May 26, 2026

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Donald Trump Jr. has ties to the industry. He invested in Polymarket through venture capital firm 1789 Capital and also serves as a strategic adviser to Kalshi.

Crypto exchange Kraken has launched a non-custodial Bitcoin product, giving a 2.5% yearly yield, adding to the company’s yield product offerings amid a rising investor demand for crypto reward products.

Kraken unveiled the product on Wednesday with the support of crypto yield infrastructure provider Veda, which said the offering seeks to remove “the headaches that come with wrapping Bitcoin, moving assets, or managing a crypto wallet.”

Kraken’s offering comes as Bitcoin (BTC) holders’ demand for yield products has risen, but have seen limited development as the Bitcoin blockchain does not have mechanisms for users to generate yield compared to blockchains such as Ethereum and Solana.

“Many Bitcoin holders on Kraken have made it clear they want simple ways to earn on the Bitcoin they already plan to hold,” Kraken Earn product director John Zettler said in a statement.  

Source: Kraken

About 10 hours after the launch, Veda said the Bitcoin yield product had passed $30 million worth of Bitcoin deposits from 4,000 unique wallets. 

Kraken’s three stablecoin yield products that it launched in January have exceeded around $245 million in customer deposits and generated over $2.2 million in yield since launching on Jan. 26.

Related: Coinbase, Apex Group tokenize Bitcoin Yield Fund on Base 

Kraken’s product generates yield from Bitcoin by swapping it to Kraken Wrapped Bitcoin (kBTC), a token replicating Bitcoin’s price, which crypto platform Sentora then allocates across crypto lending platforms such as Aave, Morpho and Tydro. 

The product is non-custodial, meaning only depositors can withdraw or transfer their funds. Withdrawals are estimated to take five days to process, and the service providers take a 25% performance fee on rewards.

Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies? 

Cointelegraph 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.

Strive, Inc. has used its SATA preferred stock program to buy an estimated 490 BTC in a single day, surpassing the Bitcoin network’s average daily issuance of roughly 450 BTC.

According to the Bitcoin for Corporations SATA Tracker dashboard, Wednesday’s activity showed about $66.9 million in total SATA volume, a 13% yield, and 95% of volume above the $100 par level set by Strive’s board for new issuance.

SATA absorbs more Bitcoin than daily mining supply

The tracker estimated a 58% capture rate from Wednesday’s trading, which placed at-the-market proceeds near $35.3 million while bitcoin traded around $74,956. Based on those figures, the SATA program was estimated to have acquired around 490 BTC during the session.

Bitcoin miners currently earn 3.125 BTC per block after the April 2024 halving, and the network normally produces about 144 blocks each day. Based on that block schedule, the network adds about 450 new Bitcoin to circulation every 24 hours.

Wednesday’s estimate means Strive’s preferred stock program bought more bitcoin in a single session than miners produced across the entire network in an average day.

Weekly Data Shows Heavy Treasury Buying

For the week ended May 24, SATA recorded about 794 BTC in purchases, according to the tracker data cited in the report. Wednesday’s revised estimate of 475 BTC was listed as the second confirmed daily supply absorption event by the instrument over the past eight days.

At the same time, Strive’s 8-K data, as shown through the tracker, covered the period from May 18 to May 26. During that filing window, SATA produced $50 million in total proceeds and added about 650 BTC to Strive’s treasury at a 48% capture rate.

Strive’s latest SEC filing also confirmed that the company purchased 1,109 bitcoin between May 19 and May 22. The filing placed the average purchase price at about $76,989 per bitcoin and brought the company’s total holdings to 16,500 BTC.

Strive uses preferred equity instead of debt

Strive describes itself as a Dallas-based corporate treasury and structured finance company focused on bitcoin accumulation. The company uses Variable Rate Series A Perpetual Preferred Stock, branded SATA, as one of its main funding tools.

The preferred stock is designed to pay cash dividends on each business day at a stated annual rate of 13%, with frequent distributions allowing the dividend structure to compound. Strive has said that the $100 per-share threshold serves as a floor below which management should not issue shares.

Rather than relying on traditional debt, Strive uses preferred equity to raise long-duration capital. The company has said this structure supports its bitcoin treasury strategy while reducing pressure tied to conventional loan maturities.

According to Strive’s disclosures, proceeds from SATA offerings are used for bitcoin purchases, the retirement of convertible notes connected to its Semler Scientific acquisition, and repayment of a Coinbase Credit loan.

Bitdeer names ex-Corsair finance chief Michael Potter as CFO, effective Tuesday, replacing Jianchun Liu.

Bitdeer names ex-Corsair finance chief Michael Potter as CFO, effective Tuesday, replacing Jianchun Liu. Liu will remain through June 30.

The Nasdaq-listed Bitcoin miner disclosed the change in a Form 6-K filing. The board approved Potter’s appointment as the company pushes deeper into AI cloud and data center infrastructure.

Why the Bitdeer CFO change matters for the AI pivot

Potter served as CFO of Corsair Gaming from November 2019 through December 2025. He led the gaming hardware manufacturer’s September 2020 IPO and oversaw multiple capital markets transactions, according to the filing.

Before Corsair, Potter held CFO roles at a string of hardware-intensive public firms. Those included Canadian Solar, Lattice Semiconductor, NeoPhotonics, and STATS ChipPAC, giving him a track record across semiconductors and renewable energy.

The filing said Liu’s resignation was “due to personal reasons and was not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”

Liu will continue as a principal advisor after the transition. The overlap gives Bitdeer roughly five weeks with both finance executives in place before the handover.

How the appointment fits Bitdeer’s strategic mix

Bitdeer has spent the past year repositioning from pure Bitcoin mining toward AI infrastructure. The company self-mined 783 BTC in April 2026, a 372% year-over-year increase, while pushing its self-mining hash rate above 65 EH/s.

Its AI cloud annual recurring revenue grew roughly 60% month-over-month to about $69 million in the same period, according to company disclosures. The Tydal site in Norway remains in advanced negotiations as a colocation deal.

“April marked another month of disciplined execution across our integrated AI and Bitcoin mining platform,” Bitdeer CEO Linghui Kong said in the company’s most recent operations update.

Potter’s resume overlaps cleanly with each leg of that mix. Corsair Gaming dealt in hardware procurement and supply chain, Canadian Solar covered renewable power economics, and the semiconductor roles touched chip design cycles that mirror Bitdeer’s SEALMINER pipeline.

What the market reaction signals

Bitdeer shares fell about 3% in early trading after the announcement, though the stock remains near six-month highs. The dip suggested investors are reading the CFO change as a routine transition rather than a strategic break.

The miner has steadily scaled infrastructure across the US, Norway, Bhutan, and Ethiopia, with capacity targeting 3 GW. Several of those crypto sites are being reevaluated for AI cloud and colocation workloads, the company’s Q1 filing noted.

Potter also served as audit committee chair of Cordelio Power, a renewable energy platform backed by CPP Investments, from 2018 to March 2026.

That board seat aligns directly with the energy and capital structure questions Bitdeer’s expansion keeps raising for public-market investors.