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Crypto

Bitcoin network enters first hashrate bear market, Twenty One Capital CEO says

The bitcoin network has entered a \"hashrate bear market\" for the first time, an executive said. Rafa Zagli, CEO of investment firm Twenty One Capital, said the network hashrate rose to about 1.3 zettahash per second late last year and has since declined gradually, taking the longest time yet to recover its prior peak. He said growing demand from AI and high-performance computing is reshaping miners\' use of power and facilities.

Crypto

Anthropic signs 20-year, $9 billion AI compute deal with Riot

Bitcoin miner Riot Platforms has signed a 20-year compute agreement with Anthropic worth $9 billion. Under the deal, Anthropic will lease 191 megawatts of power at Riot’s Rockdale, Texas campus. Riot had previously described the counterparty only as a leading frontier AI company. The contract is seen as a step toward shifting Riot’s business from bitcoin mining to AI infrastructure leasing, with revenue projected to rise further if extension options are exercised.

Crypto

Sequans sells 1,200 bitcoins, pays down debt and moves to refocus on IoT semiconductors

French semiconductor company Sequans Communications has sold more than 1,200 bitcoins in the second quarter, cutting holdings to 314 by quarter-end, valued at about $18.4 million. The company used sales to repay convertible bonds and improve its financial structure. Sequans posted a $5.3 million realised net profit on second-quarter bitcoin sales after a $11.7 million realised loss in the first quarter. It reported revenue growth and cited progress in its IoT semiconductor business.