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Crypto

Bitcoin mining profits plunge, putting $60,000 support under test

Bitcoin mining profitability has fallen to a record low, fueling market unease over whether bitcoin can hold the $60,000 support level. As the price slipped toward $62,000, on-chain activity cooled and miner revenue sank. Miners and pools still hold more than $110 billion worth of bitcoin, raising concerns about potential selling. Industry concentration has increased, while some miners shift power infrastructure toward AI computing.

Industry

China forms semiconductor alliance as Alibaba, CXMT join launch of huge fund

Major Chinese technology companies and state-backed investment institutions have launched a 3.91 billion yuan long-term investment fund in response to tighter U.S. technology export controls. The Changzhi Hanhai Private Investment Fund, registered in Shanghai’s Pudong New Area, aims to supply “patient capital” to support research, development and commercialisation in deep-tech fields such as semiconductors. Investors include CXMT-related entities, Alibaba affiliates and AMEC, alongside state-backed funds.

AI & Enterprise

Jensen Huang wraps up South Korea visit, stresses physical AI cooperation and startup support

Nvidia CEO Jensen Huang attended a \"Korea AI Ecosystem Reception\" on June 8 to wrap up a five-day visit, saying South Korea is unmatched in heavy industry, manufacturing, electronics and AI software and that hundreds of billions of dollars in revenue would flow into the country over the next five years. He urged venture capitalists and the government to support AI startups and highlighted physical AI cooperation. Deputy Prime Minister Bae Kyung-hoon cited plans on next-generation accelerators, GTC Korea and GPU price talks.