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Crypto

Bitcoin miners shift to AI as selling pressure plunges

Selling pressure from bitcoin mining firms has weakened sharply, as miners shift power and data-centre resources to AI and high-performance computing, an analysis said. Listed miners’ active hashrate fell by about 56 EH/s in the first half, down 15 percent, compared with a roughly 10 percent drop for the overall network. Investment is large, with capital spending estimated at about $30 billion. Miner outflows have since eased, with CryptoQuant’s MPI falling to -1.2.

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

Kazakhstan to exempt personal crypto trading gains from income tax for 3 years

Kazakhstan will exempt individual investors from personal income tax on profits from trading digital assets for three years under a presidential decree signed by President Kassym-Jomart Tokayev. The measure, prepared jointly by the AI and Digital Development Ministry, the National Bank and the Astana International Financial Centre, excludes assets linked to fraud, money laundering or unlicensed crypto services. Authorities also outlined steps to manage mining-related power demand and prepare follow-on taxation rules.