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BitMine Expands ETH Holdings Despite $6.5B in Unrealized Losses

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BitMine Expands ETH Holdings Despite $6.5B in Unrealized Losses

BitMine Immersion Technologies, the Ether treasury company backed by Fundstrat’s Tom Lee, has expanded its ETH holdings for the second time in as many weeks, even as large unrealized losses underscore the strategy’s risks.

The company said Monday it purchased an additional 101,901 Ether last week, bringing its total holdings to roughly 5.08 million ETH. Its combined crypto and cash reserves now stand at about $13.3 billion.

Source: Wu Blockchain

The latest acquisition follows a purchase of 101,627 ETH a week earlier, which was the company’s largest accumulation since December.

Despite the aggressive buying, BitMine is sitting on more than $6.5 billion in unrealized losses, based on total investments of approximately $17.6 billion, highlighting the impact of recent volatility in Ether prices.

The share price of the NYSE-listed BMNR stock is down more than 20% year-to-date, according to Yahoo Finance data.

Still, the company is generating yield on a portion of its holdings. BitMine has staked roughly 3.7 million ETH, allowing it to earn rewards for helping secure the Ethereum network and validate transactions, a strategy that provides a steady income stream even during price downturns.

BitMine’s unrealized losses on its ETH treasury have topped $6.5 billion. Source: Dropstab

Related: Crypto Biz: Same players, bigger bets as crypto eyes a rebound

Ether, crypto markets show signs of stabilization

BitMine’s large purchases come as the broader crypto market shows early signs of stabilizing after months of declines through March.

Ether rebounded above $2,400 last week after falling to a low near $1,800 earlier this year, according to TradingView data. Despite the recovery, the second-biggest crypto by market cap remains down roughly 23% year-to-date.

The rebound mirrors a broader uptick across equities and other risk assets in recent weeks, suggesting improving investor sentiment.

However, the volatility underscores the challenges facing crypto treasury players. Companies that accumulate large digital asset reserves are highly exposed to price swings, which can lead to significant unrealized losses during downturns, even as they continue buying. 

While strategies like staking can generate yield, they often do little to offset large drawdowns in asset value, leaving balance sheets sensitive to market cycles.

Related: Michael Saylor’s Strategy adds 3.2K Bitcoin at nearly $78K per BTC

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Kiwe Receives Final CBE Approval ,the New Wave of Fintech Has Arrived

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Kiwe Receives Final CBE Approval ,the New Wave of Fintech Has Arrived

Kiwe, the home-grown fintech startup built around how people actually use money today, has received final approval from the Central Bank of Egypt (CBE) to launch its application and card in the Egyptian market, marking the arrival of a new wave of fintech that is more relevant, user-centric, and experience-driven.

The approval marks a major milestone for Kiwe and signals a growing shift in Egypt’s fintech landscape toward more user-centric, digitally driven financial solutions. Developed in partnership with Banque Misr, VISA, Meeza and ModuPay (formerly MDP). Kiwe combines international payment technology with trusted local banking infrastructure to deliver a seamless and secure experience for users.

What sets Kiwe apart is its focus on the social side of money, recognizing that people don’t just spend money, they move, share, and experience it together. The platform introduces Egypt’s first social money features, allowing users to manage money with ease. Whether it’s personal spending, planning a group trip, organizing a celebration, or contributing towards a shared goal, Kiwe removes the friction from everyday financial interactions and makes them feel intuitive and collaborative.

Alongside its social capabilities, Kiwe offers a full suite of practical money management tools. Users can send instant, free transfers, monitor spending in real time, and gain clearer insights into their financial habits. Designed with financial literacy at its core, the platform empowers users to stay in control, set boundaries, and make more informed financial decisions.

Kiwe is backed by a group of leading financial and investment institutions, including EFG Hermes, Valu, Cairo Capital, Dfin Holding, Marakez Group, and EFG EV, reflecting strong confidence in the platform’s vision, governance, and long-term potential.

Omar Kamel, Co-Founder of Kiwe said: “Receiving final approval from the Central Bank of Egypt is a defining moment for Kiwe. From day one, our goal has been to rethink how people experience money — to make it simpler, more relevant, transparent, and social. With the launch of our app and card, we’re offering users a platform that helps them manage, share, and understand their money in a way that feels natural and empowering. We’re excited about what 2026 holds, not just for Kiwe, but for the future of fintech in Egypt.”

It is worth noting that Kiwe was founded in 2021 by Mohamed Khalifa, Fatma Khalifa, and Omar Kamel, and began with a clear idea: Money should feel relevant to how people live today. That idea has since evolved into a fully licensed financial platform, ready to reshape how Egyptians move, manage, and share money.

 With its CBE approval secured, Kiwe is preparing for a strong 2026 launch, with plans to introduce additional financial products that continue to simplify money management while bringing a more personal and connected approach to everyday finance.

Bitcoin Bulls Battle For Control With Emphasis On $80K Reclaim

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Bitcoin Bulls Battle For Control With Emphasis On $80K Reclaim

Bitcoin (BTC) fell more than 2% on Monday as US-Iran war nerves again guided macro markets.

Key points:

  • Bitcoin gave back early-week gains as its downside extended toward 3% on Monday.
  • Two key moving averages hang in the balance amid macro uncertainty over the war in Iran.
  • Bulls need to clear the low $80,000 area next, says market analysis.

Crypto exec: Bitcoin needs to clear bull market support band

Data from TradingView showed BTC/USD hitting local lows of $76,567 on Bitstamp, giving back earlier gains.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The pair had managed a weekly candle close above a key moving average — something that market participants had hoped would allow it to avoid a fresh retracement.

“Bitcoin just reclaimed the 21W EMA for the first time since Oct 2025,” trader Ryan Hogue noted in a post on X. 

“$84.5K (200DMA) looks like the next stop this week.”

BTC/USD one-week chart. Source: Ryan Hogue/X

Nic Puckrin, CEO and cofounder of crypto education platform Coin Bureau, added that Bitcoin reclaiming its bull market support band — two moving averages of which the 21-week EMA is one — was now key.

“We are right in the middle of the Bull Market Support Band. This has historically served as a key support for bull markets. We broke below the band in October last year,” he told X followers. 

“While 80k is acting as a resistance right now, if we flip the band to support, it would point to a major macro-bullish shift.”

BTC/USD one-day chart with bull market support band. Source: Nic Puckrin/X

Crypto markets “shaping up for more upside”

Uncertainty over progress between the US and Iran on ending the war nonetheless directed Bitcoin lower at the Wall Street open, along with US stocks.

Related: First 21-week trend line reclaim since October 2025: Five things to know in Bitcoin this week

Oil conversely began to gain, with WTI crude reaching $97.50 per barrel to near two-week highs.

CFDs on US WTI crude oil four-hour chart. Source: Cointelegraph/TradingView

Commenting, trading company QCP Capital suggested that Iran’s foreign minister flying to Russia for talks with President Vladimir Putin was “reviving concerns of broader geopolitical alignment and escalation, and adding to market uncertainty.”

“Whether the next leg higher proves to be another classic bull trap or a more durable recovery will hinge on BTC’s ability to close above 82k,” it wrote in its latest Market Color analysis.

QCP added that corporate earnings represented another source of potential risk-asset volatility for the week ahead.

BTC/USDT six-hour chart. Source: Michaël van de Poppe/X

Elsewhere, crypto trader Michaël van de Poppe was confident about a breakout beyond the current multimonth trading range.

“The markets are still shaping up for more upside, and it’s still holding crucial levels,” he wrote on the day. 

“I think that we’ll see $85-88K in May and correct/consolidate from there.”

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

The Latest On The CLARITY Act?—Restrictions On Trump’s Crypto Role Being Discussed

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The Latest On The CLARITY Act?—Restrictions On Trump’s Crypto Role Being Discussed

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The long-awaited CLARITY Act has been stalled in Congress since January, primarily due to disagreements concerning stablecoin rewards. Those involved in negotiating the crypto bill have said throughout the month that progress is picking up, with May potentially marking a key turning point in the Senate. 

However, a recent Politico report suggests that the biggest hurdle may no longer be the inclusion of stablecoin-specific language. Instead, Democrats are vowing to block progress unless a bipartisan agreement on ethics provisions is reached, specifically restrictions aimed at preventing Trump from being involved in crypto activity. 

CLARITY Act Crossroads

Senator Ruben Gallego, a Democrat who supports the overall legislation and has worked on the ethics negotiations, summed up the leverage Democrats are using. As he stated, there is “no final bill” and “no final movement” unless the ethics issue is agreed to in a bipartisan way.

The CLARITY Act’s ethics debate has grown more urgent because the Trump family’s crypto businesses are at the center of growing frustration among lawmakers on the left. 

Those businesses are described as representing more than $1 billion of the family’s wealth, and critics argue that “a light-touch regulatory regime” for the digital asset industry could enrich the first family.

The White House has repeatedly said there is no conflict of interest for the President. Senate Republicans have also largely defended him against attacks tied to his family’s crypto holdings. Even so, both parties appear to understand that a deal is necessary to clear the path for the bill. 

Per the report, there is a shared awareness that if Republicans lose either chamber of Congress, the long-standing industry push to restructure oversight—splitting responsibilities for crypto trading between Wall Street regulators—would become far harder to achieve.

At this point, it is still uncertain whether Democrats can secure an arrangement that both Senate Republicans and the White House accept—particularly one that would meaningfully limit the Trump family’s crypto business involvement.

Ethics Fight Becomes Last Major Hurdle

Another complication is the legislative process itself. Republicans on the Senate Banking Committee have said they want to move the CLARITY Act forward in the coming weeks, but the ethics fight is described as one of the last outstanding issues required for the bill to gain broader bipartisan support. 

Because ethics policy is outside the Banking Committee’s jurisdiction, the committee’s CLARITY Act markup is not expected to include ethics language. 

Even so, Gallego has said that there must be clarity before the crypto bill reaches the floor—specifically, a “clear explanation” of how the ethics provisions would be handled and incorporated by the time of a markup.

CLARITY Act
The 1-D chart shows the total crypto market cap at $2.4 trillion as of Monday. Source: TOTAL on TradingView.com

Featured image from OpenArt, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

DeFi United Hits Recovery Target as Consensys, Solana, TRON Pledge Support

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DeFi United Hits Recovery Target as Consensys, Solana, TRON Pledge Support

The DeFi United coalition crossed its rsETH backing target after a flood of weekend commitments from across the Ethereum, Solana, TRON, Avalanche, and Bitcoin ecosystems.

Aave founder Stani Kulechov said the DeFi United recovery fund has reached the level needed to fully back rsETH, subject to pending votes, indicative agreements, and successful execution, after a wave of new commitments over the weekend pushed the coalition past an initial 163,200 ETH shortfall.

The milestone caps a frenetic stretch since the April 18 KelpDAO bridge exploit, which drained 152,577 rsETH from Kelp’s LayerZero bridge adapter and saddled Aave with between $123.7 million and $230.1 million in bad debt, depending on how Kelp ultimately allocates losses across rsETH holders.

Consensys, the company behind MetaMask, and Ethereum co-founder Joe Lubin have committed up to 30,000 ETH to the recovery effort, with Nasdaq-listed Sharplink joining in an advisory capacity, according to a press release viewed by The Defiant. The contribution is structured to make funds available immediately while standard governance processes for other contributors run in parallel.

Kulechov said the support materially advances the recovery and credited the contributors with making funds available without delay. Lubin said the Ethereum ecosystem “has always been at its best when it moves together.”

Cross-chain Solidarity

The recovery effort drew support from across the crypto ecosystem over the weekend.

TRON founder Justin Sun said TRON DAO and exchange HTX would jointly supply $20 million in USDT to Aave’s Core V3 market, calling the move “a show of support to bring AAVE to TRON.”

Solana Foundation president Lily Liu separately said the foundation would lend USDT on Aave for the first time and bring the AAVE token to Solana this weekend, noting that Solana had previously supported Tether’s $127.5 million recovery plan for Drift Protocol after that protocol’s April 1 exploit.

The Avalanche Foundation said it would support DeFi United, framing the coordinated response as a public stress-test of DeFi’s “transparent books and real accountability,” in contrast to traditional finance.

Bitcoin restaking protocol Babylon committed $3 million in USDT to Aave, with $2 million allocated to V3 and $1 million to V4. The Babylon Foundation said any interest earned on the deposit would be redirected back into the Aave ecosystem through incentives.

Liquid restaking protocol Renzo said it had supplied more than $10 million from its treasury into Aave V3 stablecoin markets, calling the past week “a true test for the DeFi ecosystem.”

Meanwhile, Circle Ventures said it was purchasing AAVE tokens directly, citing Aave’s role in shaping the future of onchain finance.

What’s Next

Kulechov’s announcement carried three explicit caveats: pending votes, indicative agreements, and successful execution. Several of the largest commitments, including the Aave DAO’s proposed 25,000 ETH contribution, Mantle’s 30,000 ETH credit facility, and Lido’s 2,500 stETH allocation, must pass through their respective governance processes.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

Luby Surpasses 45,000 Active Digital Accounts With Finfy Core Banking Platform Growth

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Luby Surpasses 45,000 Active Digital Accounts With Finfy Core Banking Platform Growth

Luby, a global technology consulting firm focused on digital transformation and financial services, announced significant growth milestones for Finfy, its core banking platform designed to support fintechs, banks, and digital financial operations in Brazil.

Finfy has surpassed 45,000 active digital accounts, reinforcing its adoption among organizations operating in the Brazilian financial ecosystem. The platform processes more than 5,000 daily transactions and has already handled over R$40 billion in total transaction volume, demonstrating its ability to operate at scale in a highly dynamic market.

In addition to growth in usage, the platform maintains a 99.95% uptime rate over the past 12 months, ensuring high availability for clients running mission-critical operations. Its infrastructure also delivers API response times below 150 milliseconds, supporting real-time processing and seamless digital experiences.

These results reflect the increasing demand for robust and scalable banking infrastructure in Brazil, where regulatory requirements and customer expectations continue to evolve. Finfy was designed to address these challenges by offering a flexible and modular core banking architecture adapted to the local market.

The platform enables companies to launch and manage digital accounts, payments, and financial services with efficiency and control. It integrates with existing systems and third-party providers, allowing institutions to modernize operations without replacing their entire technology stack.

Finfy also supports compliance and governance requirements specific to the Brazilian financial sector, helping organizations balance innovation with regulatory alignment. This is particularly relevant for fintechs and financial institutions seeking to scale sustainably in a competitive environment.

With more than two decades of experience delivering technology solutions for financial institutions in Brazil and the United States, Luby positions Finfy as a strategic platform for organizations aiming to expand digital financial services with reliability and performance.

More information about Luby and its solutions can be found at https://www.luby.co.
As digital banking continues to grow in Brazil, platforms capable of combining scalability, speed, and compliance are expected to play a central role in enabling the next generation of financial services.

BTC drops below $77,000 as rising oil and Iran risks stall the rally

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BTC drops below $77,000 as rising oil and Iran risks stall the rally

The bitcoin BTC$76,905.81 rally toward $80,000 didn’t last long on Monday, with prices slipping back to $76,600 during the U.S. session as geopolitical tensions crept back into focus.

After trading near $80,000 overnight, its highest level since early February, the largest cryptocurrency reversed course and was down about 1.5% over the past 24 hours. Major altcoins followed, with ether (ETH), XRP and solana (SOL) each falling around 3%. CoinDesk 20 Index, a benchmark for the broader digital assets market, fell about 2% on Monday.

The pullback comes as investors grow cautious about the outlook for U.S.-Iran negotiations and the ongoing disruption to the Strait of Hormuz, a key global oil transit route.

According to a Wall Street Journal report, Iran has proposed halting attacks on ships in the strait in exchange for a full end to the war, including lifting the U.S. naval blockade and delaying nuclear talks. The proposal aims to restart stalled negotiations, but uncertainty remains high after President Trump on Saturday canceled sending envoys to Pakistan for negotiating with the Iranian side.

Oil prices continued to rise during the day. Brent crude oil prices, often used as the international benchmark, climbed more than 3% to $107 a barrel, while the West Texas Intermediate crude oil was up 2.6% to $97.

The Nasdaq edged 0.3% lower in morning trading, pulling back from recent record highs, while the S&P 500 was flat, ahead of a big earnings week that includes Mag7 firms such as Alphabet, Meta, Microsoft and Apple.

Meanwhile, crypto-linked stocks declined across the board. Shares of crypto exchange Coinbase (COIN) fell 1.5%, while Circle (CRCL), issuer of the USDC stablecoin, dropped 3.5% and Galaxy Digital (GLXY), a digital asset investment firm, slid nearly 6%.

Short-term holders selling

Under the surface, bitcoin’s price action points to a market struggling to build momentum despite strong institutional demand.

Bitfinex analysts noted that short-term BTC holders sitting in profit have been selling into strength, offsetting fresh demand from ETF buyers and Strategy (MSTR).

“The path of least resistance in the near term is likely consolidation or a pullback toward the $75,000 region,” the analysts said, adding that “a decisive break above $80,000 [is] required to confirm a more durable bullish regime.”

Read more: Bitcoin is climbing on thin volume, leaving rally vulnerable to macro shock

Block Revamps Bitcoin Ecosystem With Bitkey Wallet, Cash App Features, And Proof Of Reserves

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Block Revamps Bitcoin Ecosystem With Bitkey Wallet, Cash App Features, And Proof Of Reserves

Block (NYSE: XYZ) introduced a series of bitcoin-focused products and features aimed at strengthening its position across custody, payments, and financial infrastructure. The announcements include a new Bitkey hardware wallet with a built-in screen, expanded bitcoin earning tools within Cash App, a Proof of Reserves system, and a forthcoming Square tap-to-pay experience for bitcoin transactions.

The updated Bitkey hardware wallet marks a shift in how users interact with self-custody. The device has a secure touchscreen that serves as the verification layer for transactions and security settings.

Block said via a note shared with Bitcoin Magazine that they designed the interface to address risks tied to external devices, where users often rely on separate systems to manage wallet permissions. By integrating transaction approval and security controls into the hardware, Bitkey aims to give users full control over both funds and system integrity.

Bitkey continues to operate on a 2-of-3 multisignature model and removes the need for seed phrases. The product also includes inheritance features and a privacy-focused design. Block opened preorders for the device and released a technical document outlining its framework across security, recovery, privacy, and usability.

Cash App’s new bitcoin features

Cash App received several bitcoin-related updates focused on accumulation and access. Users can now convert incoming peer-to-peer payments into bitcoin, turning transfers into recurring purchases. The company also launched a “Bitcoin Back” program, offering 5% rewards in bitcoin on eligible transactions with Square merchants, subject to a monthly cap.

The platform increased bitcoin withdrawal limits to $10,000 per day and $25,000 per week. It also removed fees and spreads on purchases above $2,000 and enabled direct deposit in bitcoin without added cost. These changes position Cash App as a more active gateway for bitcoin usage tied to income and spending.

Block also introduced a Proof of Reserves system covering its corporate treasury and customer holdings across Cash App and Square. 

The system uses on-chain signatures to allow public verification of bitcoin balances. The company stated that reserves remain under active control, rather than relying on historical snapshots.

At Bitcoin Las Vegas 2026, Block plans to demonstrate bitcoin payments through Square using NFC tap-to-pay technology. The system removes the need for QR codes and relies on the Lightning Network for settlement. Merchants can accept bitcoin through a process similar to contactless card payments. Block said it will offer zero processing fees for these transactions through 2026.

developers outline plan to protect network from quantum threats

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developers outline plan to protect network from quantum threats

The Solana Foundation says it has a plan for dealing with future quantum computing risks, outlining in a new blog post how its developers are already aligned on a potential solution.

The foundation said on Monday two of the network’s core developer teams, Anza and Jump Crypto’s Firedancer, have independently landed on the same solution, a new type of digital signature called Falcon designed to withstand quantum computing, and have already started building early versions of it.

The alignment is notable given Solana’s technical constraints. The network’s high-speed, low-latency design has raised questions about whether more computationally intensive post-quantum cryptography could be adopted without trade-offs. The foundation said, however, that any eventual migration would be manageable and unlikely to significantly impact performance.

The blog post comes as debate intensifies across the crypto industry about whether advances in quantum computing could eventually undermine blockchain security. The Solana Foundation’s position: the risk is real but still distant.

“Quantum is still years away,” the foundation said, adding that migration plans are “well-researched, understood, and ready to deploy.”

Beyond core protocol work, the foundation pointed to existing efforts within the ecosystem, including Blueshift’s “Winternitz Vault,” a quantum-resistant primitive that has been live on Solana for more than two years and was recently cited by Google Quantum AI.

For now, no immediate changes are planned. Solana outlined a phased roadmap that includes continued research into Falcon and alternatives, introducing post-quantum schemes for new wallets if needed, and eventually migrating existing wallets.

Read more: Solana’s quantum-threat readiness reveals harsh tradeoff: security vs speed

Middle East Data Centres Pivot to Liquid Cooling Amid AI Surge

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Middle East Data Centres Pivot to Liquid Cooling Amid AI Surge





Milan Radia, CEO of Connected Compute and partner at Taranis Capital, joined Mark Walker to discuss the fundamental shift in digital infrastructure as AI workloads transform data centre requirements. The Middle East has emerged as a primary destination for these high-density projects, supported by a combination of strategic connectivity and reliable power access.

Radia explained that the industry is moving away from a “powered shell” real estate model toward highly complex environments capable of supporting unprecedented power densities. While traditional racks previously required minuscule amounts of power, the arrival of Nvidia GB300 chips is pushing requirements to 150kW per rack.

“Liquid is a much better conductor of heat,” Radia noted, adding that the shift from air-cooling to direct-to-chip liquid cooling is now a necessity for modern AI factories. This transition creates a distinct risk of obsolescence for legacy facilities that cannot easily be retrofitted to meet these new standards.

The drive for “on-soil” data centres is also accelerating as governments in the UAE and Saudi Arabia prioritise data sovereignty. Radia pointed out that proprietary AI models are becoming essential for confidential government and enterprise data, necessitating domestic capacity. Beyond training, the focus is shifting toward “inferencing,” where low latency is required to provide real-time responses for users of applications like Gemini.

Infrastructure investment in the region is further propelled by bilateral deals and the availability of advanced GPUs, which are feeding into large-scale projects supported by entities such as IHC. Radia concluded that while the demand for capacity is vast, the winners will be those building distributed, high-density hubs that can handle the specific latency needs of the next generation of software.


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