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Wu said July mining news: American Bitcoin has raised 220 million USD, French lawmakers propose using nuclear power surplus for Bitcoin mining, etc.
Author | Wu Says Blockchain
1、
U.S. Senator Cynthia Lummis is trying to include a key cryptocurrency tax amendment in the "Big Beautiful Bill," proposing to exempt small cryptocurrency transactions not exceeding $300 per transaction and a total of $5,000 per year from taxation. It also suggests that assets obtained through staking, mining, airdrops, and forks be taxed only upon sale, to alleviate the "double taxation" issue. The amendment also addresses tax reforms related to crypto lending, wash sales, and donations of cryptocurrency assets.
2、
Hut 8 announced that its Vega data center located in Texas, USA, has officially been powered up, equipped with 205 megawatts of electricity, and can support approximately 15 EH/s of computing power at full load, accounting for nearly 2% of the global Bitcoin computing power, making it the largest single Bitcoin mining facility in the world. The center uses a self-developed direct chip liquid cooling architecture, with 17,280 U3S21EXPH miners deployed by Bitmain, and is expected to generate annual hosting revenue of between 110 million and 120 million dollars.
3、
The cryptocurrency company American Bitcoin, supported by Eric Trump, son of former U.S. President Donald Trump, has raised $220 million to purchase Bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with about $10 million worth of equity sold in Bitcoin instead of U.S. dollars. The main shareholder of American Bitcoin, Hut 8 Corp, plans to go public through a merger with Gryphon Digital Mining Inc.
Hut 8 has previously transferred its mining equipment to American Bitcoin in exchange for an 80% equity stake. American Bitcoin Corp. and Gryphon Digital Mining jointly announced that they have submitted an amended S-4 registration statement to the U.S. Securities and Exchange Commission (SEC) to advance the previously announced stock exchange merger transaction. According to the agreement, Gryphon will acquire American Bitcoin through a stock exchange, and the merged company will operate under the "American Bitcoin" brand, led by the management and board of directors of American Bitcoin.
4、
Digital entertainment company NIP Group (NASDAQ: NIPG) announced that it will acquire a batch of Bitcoin mining machines from Fortune Peak Limited and Apex Cyber Capital Limited, with a total hashing power of 3.11 EH/s, expected to produce about 60 Bitcoins per month. The proposed transaction is expected to be completed on or before September 30, 2025. In addition, NIPG has established a dedicated digital computing department to manage the operations of the acquired products.
5、
The UK cloud mining platform TWL Miner has completed a $95 million Series B financing round, which will be used to support the integration of artificial intelligence technology with cloud mining operations. The new funds will be used to strengthen the construction of a global renewable energy data center network and to develop an artificial intelligence mining system. Currently, TWL Miner operates over 60 data centers in multiple countries. These facilities are powered by renewable energy sources such as wind and solar energy, aligning with the company's environmentally sustainable mining strategy.
6、
The Nasdaq-listed Bitcoin mining company BitFuFu recently announced its operational data for the first half of 2025 on the X platform, showing that its hash rate reached a peak of 34.1 EH/s in mid-year, with Bitcoin holdings increasing to 1,709 coins. Furthermore, as Bitcoin holdings exceeded 1,000 coins, BitFuFu has been included in the tracking targets of the Bitcoin exchange-traded fund Bitcoin Standard Corporations ETF under Bitwise. In June alone, it produced 445 Bitcoins, a month-on-month increase of 11.3%, bringing its holdings to 1,792 BTC. The total custody computing power reached a historic high of 36.2 EH/s, while self-operated computing power stood at 3.8 EH/s.
7、
Norwegian mining company Green Minerals announced that it has reached a structured financing agreement with LDA Capital amounting to 250 million Norwegian kroner (approximately 25 million USD) to support its Bitcoin treasury strategy. The agreement includes a sell option for newly issued shares at market price and a subscription option to acquire up to 1% of the shares. LDA has previously invested over 400 million USD in the Web3 space.
8、
The International Monetary Fund (IMF) has rejected Pakistan's plan to provide electricity price subsidies for Bitcoin mining, citing reasons such as increasing the burden on the power system, potential legal risks, and possible market disruption. The Pakistani government is still communicating with international institutions to adjust the plan. Previously, the Pakistani side announced plans to allocate 2000 megawatts of electricity for crypto mining and AI data centers to attract foreign investment, led by the Ministry of Finance and the Pakistan Crypto Committee. (Cryptonews)
9、
Tether has signed a memorandum of cooperation with South American sustainable agriculture company Adecoagro (NYSE: AGRO) to jointly develop a renewable energy-supported Bitcoin mining project in Brazil. The project aims to utilize Adecoagro's 230 MW renewable power capacity to redirect some of the electricity sold in the market towards Bitcoin mining in order to lock in prices and explore the potential of BTC as a long-term asset reserve. Tether will provide its mining operating system Mining OS and plans to open source it. Both parties stated that the pilot project has been approved by Adecoagro's independent committee.
10、
Ukrainian President Zelensky signed a new sanctions order, sanctioning 60 companies that helped Russia evade sanctions through cryptocurrency, of which 55 are Russian domestic enterprises, covering mining companies, exchanges, and payment infrastructure companies. Additionally, 5 companies from Cyprus, Kazakhstan, and the UAE were also included in the list, some of which have already been sanctioned by the United States. Zelensky stated that as traditional financial channels for Russia are blocked, the trend of turning to cryptocurrency transactions is evident, and Ukraine will close all such funding channels.
11、
Nasdaq-listed company Canaan Technology announced the Bitcoin mining data for June 2025, with a production of 88 BTC for the month. As of the end of June, the company's Bitcoin holdings increased to 1,484 coins, setting a new historical record.
12、
AI infrastructure company CoreWeave has announced that it has signed an agreement to acquire Bitcoin mining company Core Scientific in an all-stock transaction valued at approximately $9 billion, expected to be completed in the fourth quarter of this year. Upon completion of the acquisition, CoreWeave will gain a total power capacity of 1.3 gigawatts from Core Scientific's data center layout across the United States, with the potential to expand by an additional 1 gigawatt in the future. (Decrypt)
13、
Bitcoin-focused fund Ego Death Capital has completed a $100 million second phase fundraising, focusing on investing in software companies centered around Bitcoin, primarily participating in Series A financing. Typical target companies have revenues ranging from $1 million to $3 million. The fund does not invest in hardware (such as wallet manufacturers), Bitcoin mining, and its related infrastructure.
14、
BIT Mining (NASDAQ code: BTCM) has completed its second phase data center acquisition in Ethiopia, exchanging 45.3 million shares (valued at approximately 209.6 million USD) for the remaining cryptocurrency mining assets, increasing the total installed capacity to 51 megawatts (MW). Previously, BIT Mining announced plans to raise 200 to 300 million USD to lay out a Solana (SOL) treasury and operate verification nodes to earn staking rewards. (Blockspace)
15、
Bitcoin mining company MARA announced it would lead a $20 million equity financing for SEC-registered lending platform Two Prime, and increase its BTC holdings in Two Prime's yield strategy from 500 coins to 2,000 coins. MARA stated that this move aims to convert BTC holdings into active assets that generate yield. Susquehanna Crypto also participated in this round. (CoinDesk)
16、
Bitcoin mining company Hut 8 announced a corporate restructuring strategy, clearly transforming into an energy and digital infrastructure platform with a focus on power priority and platform dominance. While continuing to promote energy-intensive businesses such as high-performance computing power, AI data centers, and liquid cooling systems, it has established an independent Bitcoin entity, American Bitcoin Corp, to separate the operations of Bitcoin accumulation and computing power management. The company currently manages 1,020 MW of energy capacity and is advancing a power acquisition plan of over 10.8 GW in North America, with a cumulative development of 430 MW of AI data center projects.
17、
PayPal co-founder and prominent Silicon Valley investor Peter Thiel indirectly holds a total of 5,094,000 shares of common stock in Bitmine Immersion Technologies, Inc. through multiple entities under his control, accounting for 9.1% of the issued shares. BitMine was originally a Bitcoin mining company but has now transformed into an ETH strategic reserve company. On July 14, the company disclosed that it holds 163,142 ETH, valued at over $500 million.
18、
On July 11, French lawmakers submitted a bill proposing a five-year pilot program for Bitcoin mining, utilizing surplus nuclear energy wasted during low grid load times, with an expected annual revenue of between 100 million and 150 million USD. The proposal was further introduced after the French Parliament first called on the government last month to assess Bitcoin mining as a "consumption mechanism" for surplus nuclear power. (CryptoSlate)
19、
The U.S. subsidiary of Canaan Inc. will deliver approximately 6,840 Avalon A15Pro mining machines to Cipher Mining's Black Pearl Bitcoin mining facility, expected to be completed in the third quarter of 2025, which will increase the facility's computing power to 1.5 EH/s. Each mining machine has a computing power of about 221 TH/s and an energy efficiency ratio of 16.6 J/TH. (The Miner Mag)
20、
Bitcoin mining company Mawson Infrastructure has fired CEO Rahul Mewawalla, citing his alleged fraud and breach of fiduciary duty, and has filed a lawsuit in a Delaware court. Mewawalla had previously received a $2.5 million bonus, 1.2 million shares of restricted stock, and a salary increase. He himself denied the allegations in a letter, stating that the company had publicly recognized his performance earlier this year, including significant growth in revenue and gross profit. Prior to this incident, Mawson had been sued for allegedly illegally possessing NYDIG's mining machines valued at $30 million. (The Miner Mag)
21、
Bitcoin-listed mining company Hut 8 Corp announced that its subsidiary Hut 8 Investment Ltd has obtained a commercial license from the Dubai International Financial Centre (DIFC). This license will enhance the company's ability to deploy reserve Bitcoin into structured derivatives strategies, reduce trading friction, and lower trading costs.
22、
Cryptocurrency mining company BitMine Immersion (NYSE: BMNR) announced that its common stock options will begin trading on the New York Stock Exchange starting July 23, covering multiple standard expiration dates and exercise prices. The official statement indicated that this move is expected to enhance stock liquidity and provide investors with more risk management and strategic operation choices. BitMine has acquired 300.7k ETH, valued at approximately $1.09 billion.
23、
Cango announced that it has completed a full transition from an automotive trading platform to a Bitcoin mining enterprise, and has reorganized its board of directors and management. Xin Jin, founder and CEO of Antalpha, has been appointed as the chairman of the board, further consolidating ties with Bitmain. Antalpha is a financial services platform supported by Bitmain. The new CEO, Peng Yu, was previously the Chief Strategy Officer of Antalpha and has an asset management background. The company has also added several members with Antalpha backgrounds to the board. Cango currently holds over 4,000 Bitcoins.
24、
Cryptocurrency mining company Bitzero, supported by renowned investor Kevin O’Leary, announced the completion of a $25 million financing round, intended to expand its business operations in North America and Europe. The company stated that it will first use part of the funds to procure 2,900 Bitmain S21 Pro mining machines, which are expected to be deployed within 4 to 6 months, generating an annual revenue increase of approximately $10 million. Bitzero is headquartered in Vancouver and focuses on using low-carbon energy sources such as hydropower to support high-performance computing and Blockchain tasks, currently advancing the construction of four new facilities in North Dakota, Norway, and Finland.
25、
Algeria officially banned the issuance, sale, purchase, holding, use, and promotion of all crypto assets, including Bitcoin, by passing Law No. 25-10 on July 24. The law also criminalizes cryptocurrency mining, using digital wallets, and operating crypto trading platforms. Offenders will face imprisonment of 2 months to 1 year, as well as fines ranging from 200,000 to 1,000,000 dinars (approximately 1,540 to 7,700 USD).
26、
UK Bitcoin mining company Argo Blockchain (NASDAQ: ARBK) received a delisting notice from NASDAQ due to its stock price being below $1 for an extended period and is set to be delisted. Argo has applied for a hearing to postpone the delisting decision, and its securities will continue to trade during this period. (The Block)
27、
Bitcoin mining company MARA Holdings announced its second-quarter financial report, with revenue reaching $238.5 million, a year-on-year increase of 64%, surpassing market expectations of $227.9 million, benefiting from a 50% rise in the average Bitcoin price this quarter. The company mined a total of 2,358 Bitcoins during the quarter and currently holds approximately 50,000 Bitcoins, valued at nearly $6 billion at current prices, of which about 31% is in lending, collateral, or actively managed status. (CoinDesk)
28、
The Indonesian Ministry of Finance has issued new regulations, effective August 1, increasing the tax rates related to cryptocurrency transactions: the transaction tax rate for sellers on local exchanges will be raised from 0.1% to 0.21%, while for sellers on overseas platforms it will increase from 0.2% to 1%; buyers will no longer pay value-added tax, which was previously 0.11%-0.22%. Additionally, the value-added tax rate for cryptocurrency mining will rise from 1.1% to 2.2%, and the previously applicable special income tax of 0.1% will be abolished in 2026, replaced by personal or corporate income tax.
29、
MARA received a Teraflux Bitcoin mining machine worth $73.3 million from Silicon Valley chip company Auradine in the first half of 2025, with the order amount fully paid in advance and delivery completed. As of the end of June, MARA still has $51.4 million in unfinished procurement commitments with Auradine, which is expected to be delivered in installments within this year. Previously, in February, MARA invested $20 million in Auradine’s preferred stock and converted a $1.2 million SAFE investment into equity, currently holding a total stock value of $85.4 million and having a seat on its board.