When Liz Gumbinner first noticed a twinge in her right shoulder, she assumed she’d pulled a muscle. It was during the pandemic, when many exercise studios were closed, and Gumbinner, a writer who teaches advertising at Boston University, had been doing a lot of yoga and dance at home. 

But the pain, mild at first, gradually became excruciating, shooting down her arm whenever she extended it. “We’re talking worse than labor contractions,” she says. 

Pretty soon, Gumbinner couldn’t zip up a dress, turn off a light switch on the wall, or even hold hands with her boyfriend. The only way she could sleep was flat on her back with her arms at her sides. “That’s when I realized it wasn’t a pulled muscle,” she says.

A few months later, she was diagnosed with adhesive capulitis, colloquially known as “frozen shoulder,” a condition in which the shoulder capsule—a fibrous sheath which surrounds the joint—becomes thick and inflamed. It usually develops in three phases: the freezing stage, which can last several months and cause severe pain; the frozen stage, during which the shoulder becomes stiffer and difficult to use, often for up to a year; and the thawing stage, when mobility finally begins to improve. 

Hyperscale Data has sold about 100 Bitcoin and secured a BTC-backed credit facility to finance construction of its artificial intelligence data center in Michigan.

Hyperscale Data converts Bitcoin into AI funding

Hyperscale Data disclosed the Bitcoin sale and financing agreement on Thursday as it accelerated work on its Michigan AI campus.

Proceeds from the sale will fund construction and purchases of critical infrastructure and equipment with long delivery times. The company did not disclose the dollar value of the transaction or the lender behind its Bitcoin-backed credit line.

Its new facility is expected to provide financing at a variable interest rate of roughly 4.5% to 5%. The arrangement allows Hyperscale Data to raise additional capital against its remaining Bitcoin rather than selling a larger share of its holdings immediately.

Bitcoin Treasuries data shows the company retains approximately 1,006 BTC after the sale. That position makes it the 44th-largest publicly traded corporate Bitcoin holder tracked by the platform.

Formerly called Ault Alliance, Hyperscale Data adopted its current name in 2024 as it shifted more attention toward AI infrastructure. However, the company has continued operating its Bitcoin mining business.

Michigan AI contract could exceed $3 billion

Construction at the Michigan campus supports an earlier master services agreement with an unnamed AI infrastructure provider. The initial phase covers approximately 20 megawatts of computing capacity.

The agreement has a 10-year term and includes two optional five-year extensions. Hyperscale Data estimates the contract could produce more than $1.2 billion in revenue if the customer exercises all options attached to the initial capacity.

The customer can also request another 32 MW within the first two years. If that expansion proceeds and remains active throughout both extension periods, Hyperscale Data expects the contract’s total value to exceed $3 billion.

These projections depend on the customer taking the available capacity and exercising its extension rights. Hyperscale Data has not identified the customer or provided a final timeline for completing the full 52 MW buildout.

Bitcoin miners expand into US AI infrastructure

Hyperscale Data’s financing decision adds to a wider shift among U.S.-listed Bitcoin miners seeking revenue from AI computing and data centers.

Hut 8 recently signed a second 15-year lease valued at $9.8 billion for its Beacon Point AI campus in Nueces County, Texas. IREN separately announced $2.8 billion in new multi-year cloud contracts and increased its year-end 2026 annualized revenue target to more than $4 billion.

Mining companies already control power connections, land and data center infrastructure that can be adapted for high-performance computing. AI contracts may offer steadier revenue than Bitcoin mining, where income depends on network difficulty, energy costs and the market price of BTC.

The transition is not without risk. Poolin filed for Chapter 11 protection in the U.S. on July 22 with roughly $173 million in prepetition obligations. The Singapore-based mining company and two U.S. subsidiaries plan to sell their Texas assets through a court-supervised process rather than restore the business.

Hyperscale Data’s Michigan investment gives the trend a direct U.S. infrastructure angle while also showing how corporate Bitcoin reserves can serve as a source of construction capital.

GPUS shares rise after financing announcement

Hyperscale Data shares, traded on NYSE American under the GPUS ticker, gained more than 5% in late-morning trading Thursday, according to Yahoo Finance data.

The market reaction followed the company’s financing update and its projections for the Michigan contract. Investors will now watch construction progress, the AI customer’s expansion decision and any further changes to Hyperscale Data’s Bitcoin holdings.

Using BTC as both a saleable reserve and loan collateral exposes the company to Bitcoin price movements while it funds a capital-intensive data center project. Future disclosures on the facility’s collateral requirements and the campus delivery schedule may provide a clearer view of that risk.

Telegram founder Pavel Durov said Russian authorities designated him a “terrorist” after he refused government demands for mass surveillance and censorship on the messaging platform, responding publicly a day after Russia announced charges against him.

In a Telegram post on Thursday, Durov also said Russia had barred him from “publishing information on the Internet,” adding that authorities had “got confused about who can ban whom from the Internet.”

Source: Telegram, Pavel Durov

The comments came a day after Russia’s Federal Security Service accused Durov of facilitating terrorist activity, alleging Telegram failed to remove channels used by terrorist groups and Ukrainian intelligence services.

The case builds on a criminal investigation Russia launched in February, when regulators accused Telegram of leaving nearly 155,000 channels, chats and bots online despite claims they violated Russian laws covering extremist content, terrorism, drug trafficking and other illicit activity.

Related: Pavel Durov says Telegram to roll out native Gram crypto wallet

Durov’s legal battles extend beyond Russia

The Russian case adds to Durov’s legal challenges abroad. Durov was arrested in France in August 2024 and remains under judicial investigation over allegations that Telegram facilitated criminal activity by failing to adequately moderate illegal content and respond to law enforcement requests. 

Durov has denied wrongdoing, arguing that French authorities failed to follow due process in seeking information from Telegram. His arrest also prompted a TON Community-backed campaign that collected more than 9 million signatures on an open letter urging French authorities to release him.

French authorities initially allowed Durov to temporarily return to Dubai in March 2025 before lifting his travel restrictions entirely later that year.

Telegram is also facing fresh legal pressure in Australia, where regulators this week launched court proceedings alleging the platform failed to remove terrorism-related content.

Durov has cast himself as a defender of free speech and digital privacy. In April, he warned the European Union’s proposed age-verification app could pave the way for broader online surveillance. The same month, he blamed alleged tax data leaks for a wave of crypto-related kidnappings in France and said Telegram would leave the country rather than grant authorities access to users’ private messages.

Magazine: A quantum roadmap would push Bitcoin much higher: Charles Edwards

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.

Tokenized asset specialist Ondo Finance is evaluating a potential acquisition of between $250 million and $500 million, according to a person with knowledge of the matter.

The New York-based company is considering wealthtech targets, among other subsectors, said the person, who spoke on condition of anonymity because the matter is private.

Ondo has not yet appointed any formal advisers, the person said.

Founded in 2021 by former Goldman Sachs executives, Ondo Finance is a tokenization platform that brings traditional financial assets onchain. The company issues tokenized U.S. Treasuries and stocks and has become one of the largest providers of tokenized real-world assets, with more than $3.5 billion across its products.

“As a fast-growing company, Ondo regularly evaluates the market as part of normal business operations. We are not in conversations with any party at this time,” an Ondo representative said in emailed comments to CoinDesk.

Crypto dealmaking has remained strong in 2026 as traditional financial firms and larger digital-asset companies use acquisitions to add licenses, technology and distribution.

Canadians’ ownership of cryptocurrencies increased to 25% in 2026 from 10% in 2023, new data from the Ontario Securities Commission (OSC) shows.

In the results of a survey released on Tuesday, the OSC found that crypto ownership and awareness among Canadians had increased from that a few years ago. The survey polled 2,360 individuals age 18 and over between December 2025 and January 2026, finding that 59% of the respondents were aware of crypto assets and 25% held them.

“Crypto markets continue to evolve, and Canadians are participating in them more than ever before,” said Naizam Kanji, executive vice president of strategic regulation at the OSC. “By identifying emerging trends and behaviors with our research, we can look around corners, anticipate potential opportunities and risks, and ensure our regulatory approach supports investor protection while fostering fair and efficient markets.”

According to the survey, the results also suggested an increasing awareness of risk, though it was still based on a limited understanding of the industry. About 50% of crypto owners reported checking whether a platform was registered before using it, but many investors “had some misunderstanding around regulation, insurance protections and transaction capabilities.”

Lawmakers in Ottawa have proposed various measures to address different uses of cryptocurrency in the country. In April, the federal government advanced a bill that could ban political donations using crypto, and proposed banning digital asset ATMs, citing concerns about fraud.

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.