Bitcoinmining

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!
💡 Want more hard-hitting crypto insights?  
📩 Follow now for breaking news, expert analysis, and real-time updates on Bitcoin, altcoins, DeFi, and beyond! 🚀  
#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

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
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

Компанія Bit Digital, котирувальна на Nasdaq, оголосила про значний стратегічний поворот, відмовляючись від майнінгу біткоіна на користь стейкінгу та управління скарбницею Ethereum. Цей крок відображає зміну фокусу через зростання витрат на видобуток біткоіна та конкуренцію в галузі. Станом на 31 березня 2025 року Bit Digital володіла 24 434.2 ETH (вартістю $44.6 млн) і 417.6 $BTC ($34.5 млн). Компанія планує поступово конвертувати свої біткоін-активи в $ETH і продасть або закриє майнінгові операції, спрямовуючи виручені кошти на розширення позицій у Ethereum.
Цей перехід зумовлений економічними перевагами стейкінгу Ethereum, який забезпечує стабільний дохід без високих енергетичних витрат, характерних для майнінгу біткоіна. Після халвінгу 2024 року рентабельність видобутку BTC знизилася, що підштовхнуло компанію до нового напряму. Незважаючи на падіння акцій Bit Digital на 3.69% після оголошення, аналітики вважають цей крок прогресивним, враховуючи зростання інтересу інституцій до ETH.
Перехід підкреслює ширшу тенденцію в криптоіндустрії, де компанії адаптуються до змін ринку. Bit Digital прагне стати чисто Ethereum-орієнтованою платформою, що може привернути нових інвесторів.
#CryptoNews #Ethereum #Bitcoinmining #Staking #blockchain #DeFi #CryptoTrends #ETH #BTBT
Підписуйтесь на #MiningUpdates для свіжих новин!

Bit Digital exits Bitcoin mining to focus on Ethereum staking.
Q1 2025 Bitcoin mining revenue dropped 64% to $7.8 million.Company holds 24,434.2 ETH, valued at $44.6 million.Public offering proceeds will fund Ethereum treasury expansion.WhiteFiber subsidiary plans IPO, adding market uncertainty.
Bit Digital’s Strategic Shift to Ethereum
Bit Digital, a Nasdaq-listed digital asset firm, announced a complete transition from Bitcoin mining to Ethereum staking and treasury management on June 25, 2025. The company plans to sell or wind down its Bitcoin mining operations across the United States, Canada, and Iceland. Proceeds will fund Ethereum purchases to bolster its staking infrastructure.
The decision follows a 64% drop in Bitcoin mining revenue in Q1 2025, generating only $7.8 million compared to the previous year. The company mined 83.3 Bitcoin, an 80% decrease from Q1 2024. Rising energy costs and reduced block rewards after the April 2024 Bitcoin halving squeezed profitability.
Ethereum’s proof-of-stake model, implemented in September 2022, offers 4-6.5% annual yields through staking. Bit Digital began accumulating ETH in 2022 and now holds 24,434.2 ETH, valued at $44.6 million, and 417.6 BTC, worth $34.5 million, as of March 31, 2025. The firm will gradually convert its Bitcoin holdings into Ethereum.
Financial and Operational Impacts
Bit Digital’s pivot aligns with Ethereum’s growing institutional appeal. The company operates one of the largest Ethereum staking infrastructures globally, focusing on validator services, custody, and yield optimization. The shift aims to secure stable returns without the high costs of mining equipment and energy.
The company reported a 17% revenue decline to $25.1 million in Q1 2025, driven by the Bitcoin mining slump. However, its cloud services revenue surged 84%, signaling strength in its computing division. Bit Digital also announced a public offering of ordinary shares to fund Ethereum acquisitions.
The firm’s stock fell 10% in after-hours trading following the announcement. The proposed initial public offering of its subsidiary, WhiteFiber, added investor uncertainty. The IPO’s success depends on market conditions and SEC approval.
Bit Digital’s Bitcoin mining operations face a strategic review, likely leading to a sale or shutdown. The company aims to redirect resources to Ethereum-native services, capitalizing on the network’s long-term potential.
The move reflects broader industry trends toward proof-of-stake models. Ethereum’s staking mechanism provides predictable yields, unlike Bitcoin’s energy-intensive proof-of-work system. Bit Digital’s transition positions it to compete in the growing institutional staking market.
#EthereumStaking #BitDigital #BitcoinMining #CryptoNews #Blockchain

🔹 Tether, the issuer of the largest stablecoin USDT, has announced an ambitious plan: to become the top Bitcoin miner by 2025. CEO Paolo Ardoino claims the goal isn’t just mining itself, but primarily strengthening the security of the Bitcoin network.
🔹 Although Tether has not disclosed its total hash rate, it has been investing in energy infrastructure in Uruguay, Paraguay, and El Salvador. The company also holds undisclosed stakes in various mining firms.

From Whale to Miner?
Tether is already among the largest “whales,” holding over 100,000 BTC as a long-term reserve. Now the company plans to take the next step—actively contributing to network security through its own mining operations.
In the Big Brain podcast, Ardoino said that while Tether hasn't yet built large-scale mining facilities, its involvement in the Bitcoin ecosystem makes this a natural progression. He believes Tether will become the largest BTC miner by the end of this year.
“If you have a million dollars, it’s always more profitable to just buy Bitcoin than to invest in mining. But in our case, given how exposed we are to Bitcoin, it's important to be part of the network’s security,” Ardoino said.

Tether Turns to Ocean Pool
Tether plans to focus its mining activities primarily in Ocean Pool, a relatively small mining pool currently operating at around 9.6 EH/s. In comparison, industry leaders like Mara Holdings and CleanSpark operate with more than 57 EH/s.
Ocean Pool stands out for offering fee-free access and supports direct, decentralized payouts for all participants. If Tether is serious about becoming a major mining force, we may soon see Ocean Pool’s hash rate climb.

Bitcoin Network Shifts – Tether May Seize the Moment
Recently, the Bitcoin network’s hash rate dropped to a six-month low of approximately 700 EH/s. This translates into lower network difficulty and easier mining conditions—just as BTC has recovered to over $107,000, keeping block production profitable for most miners.
Today, most miners pool their resources—solo operations are increasingly rare.

Tether Won’t Go Public, But It’s Betting on Mining
Although Tether has accumulated large amounts of BTC over the years, it has never positioned itself as a treasury-style company. It also denied rumors of going public or tying the value of its shares to Bitcoin.
Earlier this year, Tether announced plans to allocate another $500 million to Bitcoin mining. So far, however, its known wallets show no clear signs of incoming BTC from mining activities—raising questions about the current scale of its operations.

Conclusion: Tether Sets Its Sights High – But Can It Deliver?
Tether wants to be a major player in Bitcoin mining. Yet it remains unclear whether it has the capacity to compete with established miners running tens of EH/s. If Tether fulfills its vision, it could dramatically reshape the mining landscape while reinforcing its role as a Bitcoin network protector.

#Bitcoinmining , #Tether , #CryptoNewss , #BTC , #CryptoMining

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
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.“

1. 🚨 What’s Changing: Higher Costs on Imported ASICs and Gear
Tariff hike on Chinese-made rigs: As of April 2025, U.S. tariffs on Bitcoin $BTC mining hardware from China have surged to as much as 145%, combining layers of baseline, retaliatory, and reciprocal levies  . That means a $10,000 Chinese ASIC now carries an extra $14,500 in tariffs.Southeast Asia pause — but still pricey: Countries like Thailand, Malaysia, Indonesia, Vietnam, Cambodia, and South Korea enjoy a temporary 90‑day reduction to a flat 10%, down from previously threatened 24–49%.Universal baseline still applies: Even during the pause, a 10% tariff remains on almost all imported mining equipment.Bottom line: U.S. miners now face dramatically higher capital expenditures unless they source equipment from exempt countries — an expensive short‑term workaround.
2. What Isn’t Changing: Bitcoin $BTC Network Resilience & Tariff Exemptions
Mining network remains secure: Experts agree that these tariffs don’t threaten Bitcoin’s $BTC global network integrity.Some electronic gear excluded: The “Liberation Day” tariff exemptions include “smartphones, computers and various electronic parts,” but ASIC miners aren’t on that list.National security carve-out in progress: Groups like the Digital Energy Council are petitioning the Commerce Department to reclassify ASIC miners as standard computing equipment — potentially exempt from tariffs . That process is underway but not finalized.
3.Industry Responses: Adaptation in Motion
Stockpiling rigs: U.S. miners rushed imports ahead of the 90‑day tariff implementation and are taking advantage of the pause window.Domestic production ramp-up: Major ASIC firms — Bitmain, Canaan, and MicroBT — are opening or expanding manufacturing in the U.S. to sidestep tariffs.Supply chain fragmentation: While localized production increases resilience, full vertical integration (components to assembly) remains elusive.Shifting mining geography: With U.S. costs climbing, miners are exploring alternatives like Canada, Kazakhstan, Brazil, Ethiopia, and Paraguay.
4. Long-Term Impacts: A Fork in the Road:
🔧 Rising CapEx & Slower U.S. Buildout
Tariffs amplify hardware costs (30–40% of mining expenditures), dampening new domestic projects.
📉 Hashrate Balance Could Shift
While U.S. still holds over 37–40% of global hashrate, growth could slow or reverse as miners chase cheaper environments.
🏭 Domestic Industry Gains
Local manufacturing boosts jobs, security, and supply reliability — but U.S. costs remain higher than Asia, so scaling will be gradual.
⚖️ Regulatory & Economic Uncertainty
Policy volatility — evolving tariff negotiations and possible reclassifications — forces miners to remain nimble.
5. What Won’t Be Affected by Tariffs:
Hash power security: Bitcoin’s decentralization and technical security remain unimpacted.Global chip supply: Tariffs don’t impede chip production, just final assembly and circuit integration — supply chains will adapt over time.Crypto market sentiment: Tariffs alone won’t drive long-term price trends — broader macro and geopolitical factors prevail.

#BitcoinMining #CryptoMining #USTariffs #BitcoinNews #ASICMiners