BitcoinMining

A mysterious $BTC whale has made a transaction worth over $8 billion.On Friday, $BTC whale moved a massive amount of 80,000 BTC that had been dormant for 14 years, currently valued at approximately $8.6 billion. These Bitcoins were acquired back in 2011 through #coinbase transactions — the first transactions in a newly mined block created by miners on the blockchain.
This means the coins originally belonged to early miners who were among the first to work on the Bitcoin network.According to data from Arkham Intelligence, the coins were transferred in batches of 10,000 BTC starting Friday morning New York time, and by 11 AM, all the coins had been moved to new addresses.Julio Moreno, Head of Research at #CryptoQuant called this the “largest daily transfer of coins aged 10 years or more”, noting that the previous record was just 3,700 $BTC significantly lower by comparison.#CryptoQuant analyst JA Maartun said that in his eight years of analytical experience, he has never seen such a movement.
He added that the owner of this Bitcoin wallet once held approximately 200,000 BTC.
Connor Grogan, Director at America’s largest crypto exchange Coinbase, stated that this wallet is worth nearly $21.5 billion, making it one of the top five largest #BitcoinHolder in history.
Grogan speculated that the whale might be an “OG miner” one of the early individuals who mined Bitcoin in its infancy.
In the #CryptoWorld a “whale” refers to individuals or institutions that hold a large number of coins — typically 1,000 BTC or more. The coins moved this time were from before the era of industrial-scale #Bitcoinmining , making it difficult to determine whether the owner is an individual or a group.
Recently, the price of Bitcoin was around $107,895 per coin, roughly 4% lower than the all-time high of $111,814 in May.
When whales move coins after a long period of inactivity, it often raises concerns in the market that a sell-off might occur, potentially leading to a price decline.

Tether, the issuer of the world's largest stablecoin USDT, has announced a strategic partnership with agribusiness giant Adecoagro to launch an eco-friendly Bitcoin mining project in Brazil. The operation will be powered entirely by renewable energy and marks another step toward Tether’s ambition to become the global leader in Bitcoin mining.

♻️ Connecting Renewable Energy and Digital Assets
Tether and Adecoagro have signed a memorandum of understanding (MoU), confirming their joint intent to combine expertise—Tether will provide its mining experience and proprietary “Tether Mining OS” software, while Adecoagro will contribute access to over 230 megawatts of renewable electricity generated across Brazil, Argentina, and Uruguay.
According to Adecoagro CEO Mariano Bosch, the goal is not only to monetize surplus electricity but also to diversify the company’s balance sheet through investment in digital assets. Bosch noted that mining BTC could help stabilize revenues from excess energy currently sold on the spot market.

💻 Large-Scale Mining in the Works
With a projected capacity of 230 MW, the mining farm could deploy thousands of advanced ASIC machines like the Antminer S19 XP, achieving a total hashrate of approximately 6.9 EH/s—around 1.6% of the entire Bitcoin network’s computing power.
This setup could allow the operation to mine a full Bitcoin block roughly every 2–3 days. If efficiently managed and powered by low-cost green energy, it would rank among the world’s largest industrial-scale mining facilities.

🌍 Tether Expands into Africa – Education and Payments in Zanzibar
In addition to the Brazilian project, Tether has announced a major expansion into Africa through a government partnership in Zanzibar. The company signed an MoU with the Zanzibar eGovernment Authority to:
🔹 integrate blockchain education into school and university curricula

🔹 increase financial literacy and support the digital economy

🔹 implement USDT and XAUT stablecoins into the government-run ZanMalipo payment system
“This memorandum reflects our commitment to sustainable blockchain innovation and digital financial inclusion in Africa,” said Paolo Ardoino, CEO of Tether.

🏆 Goal: World's Largest Bitcoin Miner
Tether currently holds over 100,000 BTC worth more than $10 billion. The company has publicly stated its goal of becoming the largest Bitcoin miner in the world by the end of 2025. The partnership with Adecoagro and the expansion into Africa are strong steps in that direction.

#Tether , #Bitcoinmining , #CryptoNews , #USDT , #Stablecoins

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

In a major setback for Pakistan’s crypto ambitions, the International Monetary Fund (IMF) has rejected the country’s proposal to offer cheap electricity for crypto mining and heavy industries, citing concerns over market distortions. The decision throws cold water on Pakistan’s plan to attract foreign investment by allocating 2,000 megawatts of power to energy-hungry sectors like Bitcoin mining and data centers.  
Why Did the IMF Say No?  
During a heated Senate Standing Committee on Power meeting, Secretary Power Dr. Fakhray Alam Irfan revealed that despite having surplus electricity in winter, the IMF firmly opposed subsidized rates for crypto miners. The global financial watchdog warned that such incentives could disrupt fair competition and strain Pakistan’s already fragile energy economy.  
"As of now, the IMF has not agreed," Dr. Irfan stated, but discussions continue as Pakistan seeks alternative solutions.  
Crypto Mining vs. Power Theft: Pakistan’s Energy Crisis Deepens  
While Pakistan hoped crypto mining could bring in billions in foreign investment, the country is also battling rampant electricity theft—a problem costing the government millions. Shockingly, 58% of users pay a heavily subsidized rate of just Rs. 10 per unit, far below the actual cost.  
Senator Shibli Faraz even accused banks of being "forced at gunpoint" to help reduce Pakistan’s Rs. 1.275 trillion circular debt, highlighting the extreme financial pressures at play.  
What’s Next for Pakistan’s Crypto Dreams?
Despite the IMF’s rejection, Pakistan isn’t backing down. The government remains in talks with international bodies to revise its energy strategy, while also rolling out anti-theft tech to curb losses.  
Will Pakistan find a way to lure crypto miners without IMF approval?
Or will energy subsidies remain a pipe dream?
One thing’s clear: The battle between crypto ambitions and economic realities is far from over.  
🔔 Stay tuned for more explosive updates on this developing story!
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#crypto #Bitcoinmining #IMF #Pakistan #EnergyCrisis
$BTC

U.S. Senator Cynthia Lummis is once again shaking up the crypto world. This time, she’s introducing a bold tax proposal that could radically change how cryptocurrencies are taxed in the United States – and finally bring much-needed relief to Bitcoin miners.

⚖️ Tax Only at the Point of Sale, Not with Every Use
In a June 30th post on X (formerly Twitter), Lummis announced she is preparing an amendment to the OBBB bill (“One Big Beautiful Bill”), aimed at allowing Americans to use crypto without fear of tax penalties.
“I’m working on an amendment to the OBBB that ensures Americans can use digital assets without worrying about violating tax laws. More information coming soon!”
Her proposal would mean that cryptocurrencies are taxed only when sold, not when received or used in transactions – a major shift for the crypto community.

🪙 Double Taxation? Lummis Says: “Enough!”
Under current rules, miners and stakers face double taxation – once when they receive crypto as a reward, and again when they sell it.
“For years, miners and stakers have been taxed twice. Once when they received block rewards, and again when they sold them,” Lummis said. “It’s time to end this unfair treatment.”
Her goal aligns with Donald Trump’s vision of turning the United States into a global superpower in Bitcoin and crypto innovation.

📜 IRS Rules Are Outdated, Say Critics
The U.S. Internal Revenue Service (IRS) currently treats mining, staking, airdrops, and crypto payments as ordinary taxable income. Even something as simple as buying a coffee with crypto can trigger a taxable event. And if the same crypto is sold later, it incurs capital gains tax – essentially taxing the user twice.

📢 Strong Support from the Crypto World
Lummis’s proposal is gaining traction among key figures and organizations. Michael Saylor, founder of Strategy (formerly MicroStrategy) and a prominent Bitcoin advocate, backed her effort:
“We must end unjust taxes on BTC miners if America is to become the global Bitcoin superpower.”
Organizations such as Stand With Crypto, linked to Coinbase, and the Blockchain Association, representing crypto companies and developers, have also shown support.
Summer Mersinger, executive director of the Blockchain Association, stated:
“By adding Senator Lummis’s tax amendment to the Big Beautiful Bill, the Senate can create a fairer and more sustainable environment for our industry.”

🏛 What Happens Next?
Lummis’s amendment is not law yet, but if passed, it would completely reshape crypto taxation in the U.S.:
🔹 Eliminate double taxation on mining and staking

🔹 Allow small everyday crypto payments to go untaxed

🔹 Only tax crypto at the point of sale
Key votes on the OBBB amendments are expected by July 4th. The crypto community is watching closely – and if this passes, it could signal the beginning of a new era for U.S. crypto holders.

💬 What do you think of Senator Lummis’s proposal? Should Europe consider a similar reform?

#cryptotax , #Bitcoinmining , #CynthiaLummis , #Cryptolaw , #BTC

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Hut 8’s CEO said the new Dubai office will sharpen the company’s capital strategy by boosting precision and efficiency.

Hut 8, the North American Bitcoin mining firm tied to the Trump family, is opening an office in Dubai, signaling a strategic shift toward global expansion and capital efficiency.
The move comes as the Gulf city continues to lure digital asset firms with its relaxed tax policies and business-friendly environment.
The Miami-based company registered the new office last week with the Dubai International Financial Centre, one of the region’s key financial zones.
Bloomberg confirmed that the firm is actively building a team in the emirate, focused on digital asset trading and treasury management.
Dubai Office Part of Broader Global Pivot
CEO Asher Genoot said the new base would help “enhance the precision and efficiency of Hut 8’s capital strategy.”

The decision to expand into Dubai reflects a broader recalibration within the crypto industry, as firms seek regulatory certainty and access to global liquidity.Hut 8 didn’t return Cryptonews’ request for comment by press time.
Dubai has emerged as a magnet for digital asset players by offering zero corporate taxes in its free zones and a light-touch regulatory regime. Its status as a financial and logistics hub has also made it an attractive destination for miners and crypto-native firms looking to operate across jurisdictions
Hut 8 Eyes Liquidity Abroad Amid Shifting Crypto Regulation
Hut 8, a major player in North America's Bitcoin mining sector, currently operates facilities in Texas, New York, and Alberta, Canada. By the end of 2024, the company employed approximately 220 people. While it continues to maintain a strong presence in North America, its recent expansion into the Middle East signals a strategic move to tap into global capital markets and refine its treasury management amid Bitcoin’s ongoing bull market.
The company has also been in the spotlight due to its association with American Bitcoin Corp.—a new venture partially backed by Donald Trump Jr. and Eric Trump. This new entity, expected to go public later this year, will absorb the bulk of Hut 8’s mining assets. Hut 8 will retain an 80% ownership stake and oversee leadership, while the remaining 20% will be controlled by the Trump-linked American Data Centers.
However, sources indicate that the new Dubai office is not linked to this joint venture. Instead, it represents a separate initiative by Hut 8 to deepen its footprint in Dubai—a rapidly emerging global crypto hub.
With regulatory scrutiny increasing in the U.S. and parts of Europe, Dubai’s crypto-friendly environment is becoming an attractive alternative for companies seeking growth and stability.
#CryptoMining⚡🏭🇺🇸🤝 #TRUMP #bitcoin #Bitcoinmining #CryptoNews