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UAE built $700M bitcoin stockpile through mining

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Arkham: UAE built $700M bitcoin stockpile through mining - 1

Blockchain analytics firm Arkham Intelligence says the United Arab Emirates has amassed approximately $700 million worth of Bitcoin through state-linked mining operations.

Summary

  • Arkham Intelligence says UAE government-linked wallets contain roughly 6,300 BTC worth about $700 million.
  • The holdings stem from industrial-scale mining via Citadel Mining, not seizures or open-market purchases.
  • With an estimated 9,300 BTC mined in total, the UAE ranks near sixth globally among publicly identified government Bitcoin holders.

UAE amasses $700M BTC war chest via state-linked miner

According to Arkham’s on-chain research, wallets identified as controlled by the UAE government hold around 6,300 Bitcoin (BTC), valued near $700 million at current prices.

These holdings arise not from asset seizures or market purchases, but primarily from Bitcoin mined via Citadel Mining, a public mining company majority-owned by the UAE-backed conglomerate International Holding Company (IHC), itself linked to the UAE Royal Group.

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Arkham notes that the UAE’s Bitcoin reserves make it one of the largest sovereign Bitcoin holders globally, potentially ranking near sixth among nations based on publicly identified holdings.

Unlike other governments whose Bitcoin treasuries stem largely from law enforcement seizures, such as the United States and United Kingdom, the UAE’s stash is a product of industrial-scale mining operations.

Arkham researchers say the UAE has mined roughly 9,300 BTC in total, of which approximately 6,300 BTC remain in government-linked wallets, with the rest either deployed or held in associated entities like Phoenix Group.

Arkham: UAE built $700M bitcoin stockpile through mining - 1

Satellite imagery corroborated with on-chain data shows Citadel’s mining facility in Abu Dhabi was built in 2022 in partnership with Phoenix Group. Arkham’s report suggests this approach aligns with broader diversification efforts by the oil-rich nation into digital finance and blockchain infrastructure.

While the value of the holdings will fluctuate with Bitcoin prices, the data highlights the UAE’s unique path into crypto: a production-based Bitcoin reserve rather than simple accumulation through market buys or seizures, spotlighting how sovereign actors are navigating and participating in the digital asset ecosystem.

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XRP Price Prediction: Can These 6 Ongoing Developments Save Ripple

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XRP is trading at $1.31, up by 0.9% in the last 24 hours, but price prediction still remains bearish for Ripple coin.

XRP is trading at $1.31, up by 0.9% in the last 24 hours, but price prediction still remains bearish for Ripple coin. Down nearly 30% year-to-date from a $1.88 open, the token is fighting to hold key support while the broader market registers extreme fear. What most traders haven’t priced in yet: a significant engineering overhaul quietly underway inside the XRP Ledger’s core repository.

Denis Angell, an XRPL core developer, outlined six active workstreams on April 2 that are reshaping the ledger’s foundational infrastructure, telemetry, nomenclature, type safety, refactoring, logging, and documentation.

“I’ve never been more excited for the XRP Ledger core development than I am now,” Angell posted, describing the effort as tedious but critical.

The work targets backend reliability and developer experience rather than user-facing features, a distinction that matters for long-term network competitiveness.

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Whether these upgrades translate into price recovery depends entirely on market timing.

Discover: The best crypto to diversify your portfolio with

XRP Price Prediction: $1.40 Before the Next Wave of Selling?

XRP’s current level of $1.31 places it uncomfortably below both major moving averages. The 50-day SMA sits at $1.40–$1.42, acting as immediate overhead resistance. The 200-day SMA at $2.04–$2.07 represents a full recovery target that feels distant given current momentum.

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XRP is trading at $1.31, up by 0.9% in the last 24 hours, but price prediction still remains bearish for Ripple coin.
XRP USD, TradingView

Support is clustered at $1.27–$1.29. That zone is thin. A clean break below it opens a more significant leg down with limited structural floors until the $1.10 range. The Fear and Greed Index reading Fear confirms capitulation sentiment, which historically precedes either a sharp reversal or a final flush.

Analyst consensus points to $2.04 as a potential recovery level by September 2026, achievable, but requiring sustained buying pressure that simply isn’t visible in current volume data.

Discover: The best pre-launch token sales

Bitcoin Hyper Targets Early-Mover Upside as XRP Tests Critical Support

XRP’s -29.6% year-to-date performance raises a legitimate question: at a $1.31 price point and a multi-billion-dollar market cap, how much asymmetric upside actually remains? For traders comfortable with the risk profile of early-stage assets, the calculus looks different at the infrastructure layer.

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Bitcoin Hyper ($HYPER) is positioning itself as a genuinely novel infrastructure play, the first Bitcoin Layer 2 integrating the Solana Virtual Machine, delivering sub-second finality and low-cost smart contract execution while anchored to Bitcoin’s security model.

The presale has raised $32 million at a current price of just $0.013678, with healthy staking rewards available for early participants. The Decentralized Canonical Bridge enables native BTC transfers into the ecosystem, addressing Bitcoin’s longstanding programmability gap without sacrificing its trust layer.

More detail on Bitcoin Hyper is available here.

The post XRP Price Prediction: Can These 6 Ongoing Developments Save Ripple appeared first on Cryptonews.

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Riot Platforms Offloads 3,778 BTC Worth Over $250M

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR

  • Riot Platforms sold 3,778 Bitcoin for more than $250 million during the first quarter of 2025.
  • The company reduced its total Bitcoin holdings to 15,680 BTC after the sale.
  • Riot Platforms achieved an average selling price of over $76,000 per Bitcoin.
  • The firm has now sold Bitcoin in consecutive quarters after raising nearly $200 million late last year.
  • CEO Jason Les said earlier that sales were intended to fund ongoing growth and operations.

Riot Platforms sold more than $250 million in Bitcoin during the first quarter of 2025. The company confirmed it sold 3,778 BTC at an average price above $76,000. As a result, the firm reduced its total holdings to 15,680 BTC by the end of March.

Riot Platforms Cuts Bitcoin Holdings as Sales Extend Into Second Quarter

Riot Platforms reported that it sold 3,778 Bitcoin during the first quarter of 2025. The company achieved an average sale price above $76,000 per coin. Consequently, it reduced its Bitcoin reserves to 15,680 BTC at quarter’s end. The remaining holdings now carry a market value near $1.04 billion. Bitcoin traded at $66,844 at the time of valuation.

The Colorado-based miner has now sold Bitcoin in consecutive quarters. During November and December, it generated nearly $200 million from Bitcoin sales. The company has not yet disclosed detailed allocation plans for the recent proceeds. A company representative did not respond to a request for comment. However, earlier in 2025, CEO Jason Les addressed the purpose of prior sales.

Les stated that earlier Bitcoin sales aimed to “fund ongoing growth and operations.” He connected those operations to expanding infrastructure and computing capacity. The company outlined these objectives in its latest strategic business update. Riot Platforms has focused on increasing its data center capabilities. It also continues to adjust its capital structure through asset sales.

Riot Platforms Shifts Strategy Toward Data Center Development

Riot Platforms confirmed that it intends to expand beyond traditional Bitcoin mining. The firm stated that it plans to unlock its nearly two-gigawatt power portfolio. It aims to deploy that capacity for high-demand data center infrastructure. Les said, “2025 marked a watershed year for Riot.” He added that the company has transformed its future trajectory.

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The company explained that it previously used most of its power portfolio for Bitcoin mining. Now, it seeks to reallocate that capacity toward data center development. Riot Platforms stated that its long-term goal is “to fully utilize our power portfolio for data center development.” This shift aligns with ongoing operational restructuring. The firm continues to balance mining output with infrastructure planning.

An activist investor, Starboard Value, urged the company to accelerate its transition strategy. Starboard Value stated that the opportunity could add as much as $21 billion to Riot’s valuation. The investor called for a “renewed sense of urgency” in pursuing this plan. Meanwhile, shares of RIOT closed up 2.47% on Thursday. The stock recently traded at $12.86.

Over the past six months, RIOT shares have fallen more than 33%. During the same period, Bitcoin has declined 47% from its all-time high of $126,080. The company continues to report updates through formal filings and public statements. Riot Platforms has not announced further Bitcoin sales beyond the first quarter.

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Kalshi Onboards Ex-Democratic Strategist amid Legal Troubles

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Law, United States, Policy, Kalshi, Prediction Markets

Stephanie Cutter will join the prediction markets company as a policy adviser, having previously worked in Democratic lawmakers’ campaigns.

Predictions market platform Kalshi announced that a former staffer of US President Barack Obama had joined the company as a policy adviser.

In a Thursday notice, Kalshi said Stephanie Cutter would join the prediction markets company from Precision Strategies, a communications firm she co-founded in 2013. Kalshi said the addition of Cutter came as the company planned to “deepen its relationships in DC and across the country.”

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Law, United States, Policy, Kalshi, Prediction Markets
Source: Stephanie Cutter

According to Kalshi co-founder and CEO Tarek Mansour, Cutter’s experience allowed her to “get [the] message to the right people,” highlighting her background in government and politics. The predictions market already has staff with ties to the US government, including the appointment of the president’s son, Donald Trump Jr., as a strategic adviser in January 2025, the week before his father took office.

In the last year, Kalshi has come under scrutiny from many US state-level authorities, who have filed lawsuits against the platform and other companies offering event contracts on prediction markets for sports, alleging that they constituted illegal bets.

Under Trump nominee Michael Selig, the US Commodity Futures Trading Commission (CFTC) has claimed that the agency has the “exclusive jurisdiction” to oversee such markets, filing lawsuits against state gaming regulators.

Related: Polymarket expands into equities and commodities with Pyth price feeds

Lawsuits and proposed legislation

Many Democrats in US Congress have also called for scrutiny into prediction markets after what they called “suspicious trades” related to the country’s invasion of Iran. Although Kalshi and Polymarket announced plans in March to implement guardrails to prevent accounts from using insider information, some lawmakers introduced legislation that could ban politicians from engaging in such bets on prediction markets.

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As of Friday, none of the bills proposed in Congress had been signed into law, and it was unclear what the outcome would be for many of the state-level lawsuits.

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