Applied Digital closed a Goldman-led $300M senior secured bridge loan to accelerate its next 150 MW AI data center, layering it on top of $2.15B in notes and a $7.5B hyperscaler lease.

Bitcoin mining hosting and cloud services provider Applied Digital said it has closed a $300 million senior secured bridge facility to advance construction of a new AI data center project, following through on plans it outlined in April when it secured a 15‑year, $7.5 billion lease with an unnamed U.S. investment‑grade hyperscaler.

Company disclosures indicate the bridge is designed to fund continued development of the 150 MW “Building 3” data center at its Polaris Forge 1 campus, part of a broader AI Factory platform that now includes a 430 MW campus at Delta Forge 1.

The loan is secured by project assets and, according to Applied Digital, can be prepaid “at any time without penalty,” giving the firm flexibility to refinance into longer‑duration structures once permanent capital is arranged.

Management has said it expects to add a matching $300 million senior secured revolving credit facility, taking total new credit lines to as much as $600 million to cover pre‑lease and post‑lease development, working capital, and transaction expenses across its AI and high‑performance computing footprint.

From Bitcoin hosting to AI infrastructure

Applied Digital, listed on Nasdaq as APLD, started as a builder and operator of data centers for Bitcoin and crypto mining customers, with 106 MW and 180 MW facilities in Jamestown and Ellendale, North Dakota, running at full capacity by late 2025.

In March, the company priced $2.15 billion of senior secured notes via its APLD Compute 2 subsidiary, telling investors it would use the proceeds “to fund the development and construction of 200 megawatts of critical IT load” at an AI data center in North Dakota leased to Oracle under a 15‑year, roughly $5 billion contract.

The new bridge facility extends that financing stack, effectively front‑loading capital for Polaris Forge 1’s 150 MW expansion while Applied Digital works with lenders on a longer‑term structure that matches the 15‑year profile of its hyperscaler leases.

A recent crypto.news briefing outlined how the $7.5 billion AI campus lease gives Applied Digital contracted revenue visibility through 2041, making it easier to layer on project‑finance style debt.

Another crypto.news overview noted that the company’s combined plan for a $300 million bridge and a $300 million revolver is intended to “smooth development risk” as it scales up from crypto hosting to full‑blown AI infrastructure.

A separate crypto.news analysis highlighted how a prior development loan facility with Macquarie helped fund early-stage AI factory campuses, a strategy now being repeated at larger scale with Goldman Sachs and a broader bank syndicate.

Dubai, UAE — ZIGChain hosted its second annual Summit on April 28 at The Meydan Hotel in Dubai, uniting regulators, institutional capital, and builders to push the adoption of regulated investment products onchain. The event, streamed live on Cointelegraph, illustrated a sector moving from exploration to execution as institutions and regulators converge around a practical framework for onchain finance in the GCC and beyond.

With the theme Nothing Compounds Alone, the program was designed not as a series of standalone talks but as an affirmative blueprint for coordinated progress. Organizers described the eight-session agenda as a mechanism to align capital, technology, and regulation in real time, aiming to accelerate decision-making and speed up the rollout of onchain financial products.

Key takeaways

• Regulatory clarity and multi-agency collaboration in the UAE create a conducive environment for institutional onchain adoption, with VARA, the DFSA, and FSRA cited as complementary pillars.
• Strategic partnerships and product rails on display, including aBeohive collaboration to tokenise UAE private credit and the deployment of Valdora Finance’s non-custodial liquid staking on ZIGChain, highlight tangible progress toward regulated onchain yields.
• The summit underscored a shift from pilot programs to scalable, institution-led deployments, signaling growing confidence in infrastructure and governance that can support large-scale capital allocation onchain.
• Participants from across the ecosystem—circles of capital allocators, custodians, and fintech builders—emphasized a shared objective: accelerate execution by synchronizing regulatory, technological, and financial flows on a common platform.

A milestone for regulated onchain finance in Dubai

The event’s framing around “Nothing Compounds Alone” captured a broader narrative: progress in onchain finance tends to accelerate when risk, governance, and capital are aligned in the same room. Sessions traced the ecosystem’s evolution from laying foundational infrastructure and leveraging the UAE’s regulatory edge to nurturing startup formation, fintech integration, and the tokenization of traditional assets into onchain formats. Attendees noted that policy clarity and interoperable infrastructure are now among the decisive factors that separate pilots from scale.

The UAE’s multi-regulator approach—anchored by VARA, the DFSA, and FSRA—emerged as a practical backbone for instituting governance that can accommodate regulated products onchain. In a market where institutional funds require verifiable compliance, the discussion at the Meydan Hotel reinforced a core takeaway: regulatory readiness is not a constraint but a growth lever for onchain offerings.

Concrete partnerships and product rails on display

One of the summit’s defining moments was the practical evidence of momentum beyond talk. A high-profile partnership with Beehive, the UAE’s regulator-facing SME funding platform, was highlighted as a path toward tokenizing private credit in the UAE. The collaboration, announced in the lead-up to the event, positions tokenized credit as a tangible entry point for institutions and retail participants to access regulated credit markets through onchain channels. For context, Beehive’s platform operates under the Middle East’s DFSA framework to enable regulated SME financing, making it a natural testbed for onchain credit products.

Additionally, Valdora Finance—an established non-custodial liquid staking protocol—announced deployment on ZIGChain. The deployment brings with it Liquid Real-World Asset Vaults, offering institutional-grade real-world yield strategies with liquid access. Together, these developments illustrate the architecture of an onchain ecosystem that is not only capable of handling regulated instruments but also designed to provide scalable, yield-generating access for institutions and informed retail participants alike.

The narrative around ecosystem momentum was reinforced by a roster of collaborations and product reveals throughout the day. The combination of tokenization initiatives, custody, asset management, and onchain yield infrastructure points to a broader strategy: build a regulation-ready, cross-chain ecosystem that can host a spectrum of regulated investment products—from private credit to other securitized assets—on a single, interoperable chain.

The UAE as the world’s onchain capital

A recurrent theme across sessions was the UAE’s positioning at the intersection of capital, policy, and digital asset infrastructure. The country’s regulatory architecture—framed as a multi-layered, cross-agency system—was cited as a critical factor enabling institutional capital to move onchain with confidence. Dubai, in particular, was highlighted as a hub where the convergence of advanced regulation, sophisticated financial players, and capable blockchain infrastructure is most visible and active.

Today’s gathering underscored that the onchain transition is not a distant prospect but a current reality being built through concrete collaborations and regulated deployments. By bringing together builders, allocators, and regulators in one room, ZIGChain demonstrated that the core infrastructure is not only ready but already being put into practice across the GCC and adjacent markets.

As the summit concluded, ZIGChain acknowledged the contributions of speakers, partners, attendees, and the broader ecosystem. The main-stage program, streamed to a global audience via Cointelegraph, signaled a growing appetite among institutional participants to engage with regulated onchain products in a manner consistent with traditional financial standards.

What comes next for onchain, regulated investment products

For investors and builders, the Dubai summit offered a clear implication: the onchain investment frontier is shifting from theory to practice. The Beehive partnership speaks to a concrete pathway for private credit tokenization, while Valdora’s integration illustrates how liquid staking and real-world asset yields can be made accessible to institutional portfolios. The UAE’s regulatory scaffolding provides a credible framework for scaling these products with appropriate oversight, potentially reducing the friction that has long constrained institutional entry into onchain markets.

Going forward, observers will want to watch the speed at which these partnerships convert into live products, the depth of capital that begins to flow through tokenized private credit and other onchain instruments, and how cross-chain interoperability evolves to support broader liquidity and custody solutions. The presence of diverse regulators and strong industry participation suggests a deliberate trajectory toward scalable, compliant onchain finance, rather than episodic pilots.

As the ecosystem matures, market participants will also be watching for additional formal announcements—new tokenized assets, custody arrangements, and further interoperability across chains—that could accelerate adoption. The question for investors remains whether the region’s regulatory clarity and infrastructure will translate into sustained capital formation and a wider array of accessible, regulated onchain products.

With ZIGChain positioning itself as an infrastructure layer for regulated, institutional-grade onchain opportunities, the coming months are poised to reveal how effectively such an ecosystem can scale. The summit’s emphasis on execution—paired with concrete partnerships and a governance-first framework—suggests that the era of practical, regulated onchain investment has begun to crystallize in the Gulf and beyond.

Donald Trump’s cryptocurrency project World Liberty Financial has sued Justin Sun for defamation.

World Liberty accused Sun of launching a “coordinated media smear campaign.” Sun responded, calling the lawsuit a “meritless PR stunt.”

World Liberty said Monday that it filed in the Eleventh Judicial Circuit Court for Miami-Dade County, Florida. It asserted claims for defamation and defamation by implication. It wants damages and a court-ordered retraction, according to the company’s own announcement.

Today, we are filing a lawsuit against Justin Sun for defamation. Sun has launched a coordinated media smear campaign against World Liberty Financial and refused to stop even when confronted with the truth.

Here’s the story.🧵

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— WLFI (@worldlibertyfi) May 4, 2026

Sun has been upset at World Liberty ever since the project froze the vast majority of his WLFI tokens on September 1, 2025.

World Liberty’s lawsuit today follows Sun’s April 21 complaint in the Northern District of California. In his earlier case, Sun and his companies Blue Anthem Limited and Black Anthem Limited sued World Liberty Financial, noting that Sun’s companies paid $45 million for 4 billion WLFI tokens, including advisory tokens, which have declined in value due to World Liberty’s alleged breaches of contract.

His complaint accuses World Liberty of using undisclosed blacklisting powers over the WLFI smart contract to freeze his tokens. In doing so, he also alleged, World Liberty disabled his governance rights, leaving him unable to vote on proposals that affected token holders.

Sun asked the court to order a financial remedy for “World Liberty’s egregious misconduct, including their breaches of contract, fraud, and conversion.”

Read more: Justin Sun goes to war with World Liberty Financial

World Liberty Financial v. Justin Sun

World Liberty’s de facto countersuit is simple enough.

It claims Sun’s entities broke transfer rules, improperly bought tokens for undisclosed third parties in straw purchases, and eventually bet against the price of WLFI.

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Furthermore, it says Sun tried to publicly trash WLFI in public after World Liberty froze his tokens. The company also says its right to freeze Sun’s tokens appeared in sale documents, Sun’s unlock contract, as well as on-chain code.

Read more: Justin Sun wants World Liberty Financial to unmask its X admin

Sun, still nominally an advisor to World Liberty Financial, has engaged very publicly in back-and-forth posts with the World Liberty Team on X almost continuously for the last several months while his tokens have been restricted.

Several sections of the suit remain redacted.

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As Protos reported in April, Sun’s blacklisted WLFI tokens have declined by tens of millions of dollars in value since the September freeze.

Sun, in his lawsuit against the World Liberty Financial team, has also threatened to bring a defamation suit.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

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K Wave Media, a Nasdaq-listed media and entertainment company, said it is redirecting up to $485 million in remaining financing capacity from a Bitcoin treasury strategy into an artificial intelligence infrastructure buildout, according to a Monday 6-K filing with the US Securities and Exchange Commission (SEC).

The capital will be deployed into data centers, graphics processing unit (GPU) compute operations and related AI infrastructure investments under an amended securities purchase agreement with Anson Funds, the structured equity financing counterparty to the company.

The amendment revises a prior $500 million equity purchase facility, which had been structured to support a Bitcoin treasury strategy, leaving $485 million available for deployment into AI infrastructure initiatives, according to the filing. The Bitcoin treasury was previously announced in 2025 as part of the company’s broader capital markets repositioning.

The company said the shift forms part of a broader restructuring that also includes the planned disposition of its wholly owned subsidiary Play Co., Ltd. and the expected elimination of approximately $48 million in debt and related contingent liabilities.

Related: Strategy takes Bitcoin buying breather ahead of Q1 earnings report

The move marks a sharp strategic reversal for K Wave Media, which had only positioned itself around a Bitcoin treasury strategy in June 2025, alongside earlier initiatives tied to Korean cultural intellectual property and tokenized securities concepts.

K Wave share price down ~28% pre-market. Source: Yahoo! Finance

The company’s share price has been volatile following the announcement and was down 28.25% at the time of writing since Friday’s close, from ~$0.406 per share to ~$0.294, according to Yahoo Finance data.

Board approves shift toward AI infrastructure strategy

K Wave Media said in the filing that its board has approved a strategic repositioning toward AI infrastructure, including investments in data centers, GPU compute and acquisitions across the AI value chain.

In a statement included in the filing, chief executive officer Ted Kim said the company aims to become “a meaningful participant in the rapidly growing AI infrastructure sector,” citing plans to build a scalable platform across compute and related technologies.

The company also said it is evaluating a potential corporate rebrand, including the name “Talivar Technologies,” subject to shareholder approval at its annual meeting scheduled for early July 2026. The restructuring, including the subsidiary disposal and debt reduction, is intended to significantly de-leverage the company’s balance sheet.

Cointelegraph reached out to K Wave Media for comment, but had not received a response by publication.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

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.

The US Securities and Exchange Commission has delayed the expected launch of the first exchange-traded funds (ETFs) linked to prediction markets after requesting more information about their structure and disclosures, Reuters reported Monday.

The delay affects more than two dozen proposed ETFs from Roundhill Investments, GraniteShares and Bitwise, according to Reuters, citing people familiar with the matter. The issuers filed for the products in February, and launches had been expected this week after a 75-day review period.

The proposed funds would give investors exposure to event contracts tied to binary outcomes, including elections, economic data and market prices, without requiring them to trade directly on prediction market venues such as Kalshi.

The delay marks another development in the US approach to regulating prediction markets, which have attracted scrutiny over insider trading, ethics and market manipulation concerns.

“Delay is likely temporary”

According to the sources cited by Reuters, the delay is likely temporary, suggesting that progress with the filings could resume once the SEC receives and reviews additional details from issuers on product structure and disclosures.

According to Bloomberg ETF analyst Eric Balchunas, the ETFs were expected to launch on Thursday. His colleague James Seyffart last week said Roundhill’s filing had an effective date of May 5, with the first prediction market ETFs linked to event-contract outcomes such as whether Democrats or Republicans control the House or Senate.

Source: James Seyffart

How prediction market ETFs would work

Prediction market ETFs are designed to give investors exposure to binary event contracts without requiring them to trade on specialized prediction markets platforms.

Specific features differ across more than 20 of the proposed ETFs, but the products generally use derivatives to track the odds of binary “yes” or “no” outcomes in underlying contracts traded on CFTC-regulated platforms such as Kalshi. These contracts settle at $1 if an event occurs and $0 if it does not.

Roundhill previously highlighted significant risks associated with the proposed ETFs in its February filings, stating that investments in event contracts involve “unique risks that differ from those associated with traditional futures, options or securities.”

Related: A16z sides with CFTC against states seeking to ban prediction markets

The company said such investments could result in significant losses, valuation uncertainty and deviations from the fund’s investment objective.

It also pointed to potential settlement issues tied to how event outcomes are interpreted, including errors, ambiguities or disputes over the definition of the underlying event, the data sources used or the timing of determination.

Magazine: How to fix suspected insider trading on Polymarket and Kalshi

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.

Ranking 10th globally in crypto casino while still in Beta is a number worth pausing on. Spartans.com produced $1 billion in wagers, $40 million in Gross Gaming Revenue, and 27,000 first-time depositors in 60 days, then signed a multi-million dollar exclusive iGaming partnership with Real American Freestyle.

In the broader crypto market, Monero’s XMR is trading around $346 to $375, with a THORChain integration targeting mainnet within one to two months of April 10. ZCash’s ZEC surged 47% in a week before pulling back, with developers patching four critical node vulnerabilities on April 17. The top crypto casinos conversation looks very different when you place Beta metrics alongside privacy coin movements.

Monero: XMR Around $346 as THORChain Integration Approaches

Monero’s XMR is trading at approximately $346 to $375 in April 2026, with a 1.73% daily gain as of the most recent data. The most significant near-term development is the planned THORChain integration, with simulation tests having passed and mainnet deployment targeted within one to two months of April 10, 2026. The integration will enable cross-chain swaps and liquidity for XMR without centralized intermediaries, directly countering the impact of exchange delistings that have pressured Monero’s accessibility.

On April 16, the Qubic network began phase two of its planned migration away from Monero mining toward Dogecoin, with computers required to choose between legacy XMR mode or new DOGE mode starting from epoch 209. The migration raises network security questions around the hash rate distribution. On April 14, trading platform Margex added XMR as a collateral asset, signaling continued institutional utility for the privacy coin. Analysts are targeting a bullish breakout above $360, with longer-term projections toward $820 by late 2026.

ZCash: ZEC Up 30% in a Month Before Pulling Back

ZCash’s ZEC is trading between approximately $310 and $335 in April 2026, having surged 47% in a single week earlier in the month before pulling back. On April 17, developers urgently patched four critical vulnerabilities in zcashd and Zebra nodes, including one in Orchard action-encoding where a crafted transaction with an all-zeros key could instantly crash any reachable full node. The coordinated disclosure and rapid deployment by major mining pools before public release were noted by analysts as effective crisis management.

On April 21, ZEC fell below $335 as open interest dropped sharply from $763 million to $560 million, indicating longs being closed. A 406% increase in ZEC spot volume on Coinbase earlier in the month had signaled intense buyer interest. The broader Zcash roadmap published in April 2026 focuses on post-quantum security, a new cashZ wallet, and consensus protocol upgrades. Analysts note ZEC is up 30% over a month, driven by privacy demand, though EU regulatory ban risks loom.

Spartans.com: the Exclusive RAF Partnership That Tells You Where This Is Going

Spartans Casino is currently ranked 10th globally in crypto casino, achieved entirely during its Beta phase and before any global marketing push. The platform recorded $1 billion in wagers and $40 million in Gross Gaming Revenue across just 60 days in Beta. Those are not metrics typically associated with platforms that have not yet officially launched. They are operating metrics produced before August 1, 2026, the date when Spartans Casino opens to a worldwide audience with a stated goal of reaching the number one position in global crypto casino rankings by year’s end.

The RAF exclusive iGaming partnership announced in April 2026 adds the brand visibility layer that Beta performance alone cannot deliver. The 12-month, multi-million dollar deal names Spartans.com the exclusive iGaming partner of Real American Freestyle, giving it mat presence and main event ownership across every event, including RAF09 on May 30 in Dallas. RAF generates over 250 million social views per event and streams exclusively on FOX Nation. The runway from 10th to first runs directly through the most significant growth period for both brands.

The product supporting that ambition is fully competitive. Spartans Casino’s $7 million monthly leaderboard is the largest in the world, distributing $25,000 daily with zero wagering requirements. The 33% CashRake system delivers up to 33% rakeback plus 3% cashback as real cash. Spartans Casino supports Bitcoin, Ethereum, Litecoin, and multiple additional cryptocurrencies, with instant withdrawal infrastructure. For the top crypto casinos conversation, no other platform is combining a 10th global ranking in Beta with an exclusive professional sports partnership and a global launch four months away.

Conclusion

Monero’s THORChain integration is a credible liquidity and accessibility play for a privacy coin facing exchange headwinds. ZCash’s security response and post-quantum roadmap reflect a technically serious project, though price volatility and regulatory risk remain real.

Spartans.com enters this comparison ranked 10th globally without a global launch, backed by $40 million in Beta GGR, an exclusive multi-million dollar RAF deal, and a product built to reach number one by December 2026. Among the top crypto casinos, that pre-launch position is without precedent.

Find Out More About Spartans:

Website: https://spartans.com/

Instagram: https://www.instagram.com/spartans/

Twitter/X: https://x.com/SpartansBet

YouTube: https://www.youtube.com/@SpartansBet

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Key Highlights

• BMNR shares surge 4.16% following disclosure of 5.18M ETH treasury position

• Company’s total assets reach $13.1B including cryptocurrency and cash reserves

• Staking operations now generate $297M in annualized revenue from 4.36M ETH

• Weekly acquisition of 101,745 ETH marks fourth consecutive week of accelerated buying

• Bitmine now controls approximately 4.29% of Ethereum’s circulating supply

Shares of Bitmine Immersion Technologies advanced during Monday’s trading session following the company’s announcement of expanded Ethereum treasury holdings and substantial staking revenue. BMNR stock closed at $22.79, reflecting a gain of $0.91, or 4.16%, after bouncing back from an early session low around $21.88. The equity climbed above the $23.00 threshold later in the day as investors responded positively to the strategic ETH accumulation.

Bitmine Immersion Technologies, Inc., BMNR

Company Accelerates Ethereum Accumulation Strategy

Bitmine disclosed that its Ethereum treasury position stood at 5,180,131 ETH as of May 3. Management calculated the position’s value using $2,336 per ETH. The firm confirmed this holding now accounts for roughly 4.29% of Ethereum’s entire circulating supply.

This disclosure brings the company significantly closer to its publicly announced goal of controlling 5% of all ETH in circulation. During the previous seven-day period, Bitmine added 101,745 ETH to its reserves. Leadership noted this purchase continued an accelerated acquisition pattern that has persisted for four consecutive weeks.

Management positioned this accumulation strategy within the context of Ethereum’s expanding role in asset tokenization and public blockchain infrastructure. The firm also highlighted ETH’s growing importance in AI-integrated commerce platforms. These strategic justifications provided additional support for BMNR stock’s positive price movement during the session.

Staking Operations Generate Substantial Revenue Stream

Bitmine reported that 4,362,757 ETH had been deployed in staking activities as of May 3. The company assessed this staked allocation at approximately $10.2 billion. This represents over 84% of the firm’s complete Ethereum holdings.

According to the announcement, current staking activities generate $297 million in annualized revenue. Furthermore, management indicated that full deployment through MAVAN and associated partner networks could increase annual rewards to $352 million. MAVAN refers to the Made in America Validator Network.

The company developed MAVAN primarily to facilitate its internal Ethereum treasury staking requirements. However, management revealed plans to extend MAVAN services to institutional investors, digital asset custodians, and blockchain ecosystem collaborators. This expansion positions the staking infrastructure as a revenue-generating service beyond internal operations.

Diversified Asset Base and Recent Transaction Activity

Bitmine disclosed combined holdings of approximately $13.1 billion across cryptocurrency, cash equivalents, and other publicly traded securities. This portfolio encompasses 5.18 million ETH, 200 BTC, and $700 million in cash reserves. Additionally, the company maintains a $200 million equity position in Beast Industries.

The firm also disclosed an $83 million investment in Eightco Holdings, which operates under the ticker symbol ORBS on the Nasdaq exchange. These diversified holdings demonstrate that Bitmine’s treasury management extends beyond exclusive Ethereum concentration. Nevertheless, ETH accumulation remains the central pillar of the company’s financial strategy.

The treasury update arrived shortly after another over-the-counter transaction between the Ethereum Foundation and Bitmine. The foundation transferred 10,000 ETH to the company at an average execution price of $2,292 per token. This represented the third documented OTC Ethereum sale from the foundation to Bitmine within the past two months.