Bitdeer Mining Insights

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Bitcoin mining firm Bit Mining announced a strategic shift toward the Solana ecosystem, planning to raise $200–$300 million in phases to build a SOL token treasury. The funds will be used to expand its network capabilities and accumulate more SOL tokens. Bit Mining will also convert part of its crypto reserves into SOL and adopt a long-term holding strategy.

AI infrastructure firm CoreWeave has acquired Bitcoin miner Core Scientific in an all-stock deal valued at $9 billion. Core Scientific shareholders will receive 0.1235 CoreWeave shares per CORZ share—a 66% premium over the June 25 closing price. The deal grants CoreWeave control of 1.3 GW of data center power with 1 GW+ expansion potential.

Pakistan’s proposal to use surplus electricity for Bitcoin mining faces uncertainty after the IMF rejected a power subsidy plan. The IMF warned that subsidized rates for energy-intensive industries, like crypto mining, could destabilize the power market. Pakistan’s Power Secretary stated that major energy policies now require IMF approval, putting the country’s mining ambitions on hold.

The U.S. Senate passed President Trump’s “One Big Beautiful Bill Act” with a 50-50 vote, broken by Vice President JD Vance. Despite efforts from Wyoming Senator Cynthia Lummis to address double taxation for crypto miners and stakers, no crypto-related provisions were included. The bill drew criticism over healthcare cuts and lack of AI oversight.

CoreWeave has resumed acquisition talks with Bitcoin miner Core Scientific after raising a previously rejected offer. The Wall Street Journal reports a deal could be finalized in the coming weeks. Following the news, Core Scientific shares surged over 23%, with trading briefly halted. The company is now valued at approximately $3.6 billion.