🦄 American Bitcoin miner Hut 8, a subsidiary of Eric and Donald Trump Jr. on the board, has raised $220 million ahead of its public listing.

The funds were raised to scale the business by issuing shares, which will be used to purchase equipment and bitcoins.

Hut 8, in turn, also plans to open a subsidiary in Dubai. It will focus on trading strategies and accumulating cryptocurrencies on the balance sheet.

⛔️ Arizona Governor Katie Hobbs has VETOED Bitcoin Reserve bill HB2324, per report.

🔌 🇪🇹Ethiopian authorities to raise energy tariffs amid mining boom

Electricity demand from cryptocurrency mining data centers in Ethiopia will reach 30% of the country's total consumption in 2025 — 8 TWh. This is stated in a report by the relevant ministry.

Against this background, the authorities have planned a tariff reform. Over the next four years, electricity prices for businesses will increase by 400% — from $0.015 to $0.075 per kWh.

All electricity in Ethiopia's national grid is 100% generated from renewable sources, but 25% of the country's capacity is idle due to a lack of imported spare parts for repairs. Large industrial consumers face an average of 39 power outages per month for a total of 21 hours.

🍀 A solo miner successfully mined a Bitcoin block, earning 3.173 BTC ($349,000) in rewards.

A miner with this power has a probability of finding a block of about 1 in 25,000 — that is, a chance of only about 0.004%.

📊Weekly crypto asset flows ($M USD). Bitcoin received $790M and Ethereum $226M, out of a total inflow of $1.042B.

🪙 Bitcoin network volatility and on-chain activity have fallen to October 2023 levels, despite the rate being close to its all-time high.

The volume of transactions in the blockchain fell by 15% in June, which corresponds to the levels at the rate of $28,000-35,000. The mempool is almost completely empty - the share of miners' commission income has decreased to fractions of a percent with the number of unprocessed transactions falling to 5,000-15,000.

The founder of the analytical platform Alphractal, João Wedson, believes that the empty mempool indicates a lack of retail participants in the market.

🪙 The BlackRock iShares Bitcoin ETF has surpassed 700,000 BTC, accounting for 55% of all BTC held in spot Bitcoin ETFs.

🪙 Net Bitcoin flows for public companies (darker) and ETFs (lighter). US public companies bought more Bitcoin than ETFs for the third quarter in a row.

🦄 AI infrastructure provider CoreWeave (CRWV) is acquiring one of the largest Bitcoin miners, Core Scientific (CORZ), to expand its data center capabilities for high-performance computing.

The deal is valued at ~$9 billion. Under the terms of the agreement, existing Core Scientific shareholders will receive 0.1235 shares of CoreWeave at a premium. The latter will have access to 1.3 GW of capacity with the potential to expand by another 1 GW.

⚡ BTC ~ $112,000+

📊 Updating "global liquidity", as Ark sees it, divided by the Bitcoin supply (almost fixed). A local 12-month maximum has been reached, but for example in 2012 the maximum may only be related to the initial emission, which shows a further smooth trend.

⚡ BTC ~ $116,000

🦄 Long-term holders are increasing as a share of total Bitcoin holders, according to Ark Invest. However, Coinbase's premium has shrunk to zero just as it's reaching new highs, which could herald a move of "old" coins to exchanges.

🇵🇾 KULR is expanding its mining operations in Paraguay, installing 3,570 ASICs and increasing its capacity to 750 PH/s — the country was chosen due to cheap and renewable electricity from the Itaipu hydroelectric power station. KULR plans to reach 1.25 EH/s by the end of the summer and is using a Buy or Mine strategy — mining and buying BTC on the market.

Paraguay gets over 99% of its energy from Itaipu and its much smaller siblings, the Yacyreta and Acaray dams. Paraguay has a population of 6.7 million people, which is nowhere near consuming all the energy it produces, allowing it to export 90% to neighboring countries.

🇯🇵 Metaplanet bought 797 BTC — now they own 16,352 BTC worth $2 billion.

Earlier it became known that Metaplanet is considering the possibility of buying a digital bank in Japan.

⚡ BTC ~ $120,000+

💸 Bitcoin is now the 5th-largest asset in the world, surpassing Amazon, Silver, and Google.

💸BlackRock has purchased 3,294 Bitcoin and now hold 717,000 BTC.

💸 Bitcoin: Realized Capitalization and UTXO Age Groups (%). While relatively older coins are already moving, the current price range does not show significant activity from long-term holders. Anyone who wanted to sell sold earlier at the 100-110K level.