The Bitcoin mining business is squarely within the crosshairs of the US-led commerce warfare, with publicly traded miners receiving hefty invoices from US Customs and Border Safety (CBP). But, in a twist, a mining enterprise backed by US President Donald Trump’s household secured greater than 16,000 rigs from China’s Bitmain with out incurring further duties.
Past mining headwinds, the broader blockchain sector is intensifying efforts to courtroom Wall Avenue as institutional adoption accelerates throughout exchange-traded funds, company treasuries and tokenized real-world property. Ether (ETH) treasury companies are additionally ramping up accumulation, whereas experiences recommend China could also be making ready to greenlight yuan-backed stablecoins.
This week’s Crypto Biz publication explores these developments, highlighting The Miner Magazine’s newest findings, Polkadot’s new capital markets division, SharpLink’s main ETH buy and Beijing’s potential stablecoin pivot.
US Bitcoin miners face $100M+ tariff hit
The US Bitcoin mining business has been swept into President Donald Trump’s commerce warfare, with public miners CleanSpark and IREN warning of potential tariff liabilities of $185 million and $100 million, respectively, in accordance with The Miner Magazine.
Each corporations mentioned they acquired invoices from US Customs and Border Safety, which alleged that sure mining rigs have been of Chinese language origin. Beneath the White Home’s revised tariff schedule, tools sourced from China is now topic to an efficient obligation of 57.6%.
Past tariffs, The Miner Magazine famous that mining revenues “stay underneath strain,” with transaction charges slipping under 1% of block rewards.
Manufacturing information for July confirmed IREN and Mara Holdings every mined greater than 700 BTC, whereas CleanSpark and Cango generated over 600 BTC apiece.
Polkadot establishes capital markets division
Polkadot has launched a brand new capital markets division aimed toward attracting institutional buyers to its blockchain — a transfer that underscores the business’s rising effort to courtroom Wall Avenue.
The brand new entity, Polkadot Capital Group, relies within the Cayman Islands and was established in response to rising institutional demand for digital property, the corporate mentioned. It additionally pointed to latest constructive regulatory alerts in the USA as a catalyst for the launch.
Polkadot Capital Group will give attention to showcasing blockchain use circumstances throughout decentralized finance, staking and real-world property, whereas serving to conventional finance gamers discover crypto alternatives in areas corresponding to asset administration and banking.
Polkadot is the twenty fourth largest blockchain by market capitalization with a complete worth of round $6 billion.
China reportedly weighs yuan-backed stablecoins
Regardless of its sweeping restrictions on digital property, China is reportedly contemplating permitting the event of yuan-backed stablecoins — a possible coverage shift that might mark a significant reversal for the world’s second-largest financial system.
Citing sources acquainted with the matter, Reuters mentioned authorities in Beijing are open to approving yuan-backed stablecoins as a part of a broader technique to develop the forex’s function in international commerce. Such a transfer would characterize a pointy departure from the nation’s stance almost 4 years in the past, when it successfully banned crypto buying and selling and mining.
The experiences come as stablecoin adoption surges elsewhere, significantly in the USA, which just lately handed the GENIUS stablecoin invoice. The overall worth of stablecoins in circulation has now surpassed $288 billion, with US greenback–backed tokens accounting for the overwhelming majority.
SharpLink baggage one other $667M ETH
SharpLink, a sports activities betting agency that has adopted Ether as a treasury asset, added 143,595 ETH because the token approached all-time highs, in accordance with regulatory filings.
The acquisition, valued at $667.4 million, brings SharpLink’s complete holdings to 740,760 ETH — price roughly $3 billion at present market costs.
Even with the huge haul, SharpLink shouldn’t be the most important Ether treasury holder. That title belongs to BitMine, which acquired 373,000 ETH on Monday, lifting its complete holdings to 1.52 million ETH, valued at about $6.5 billion.
Whereas ETH has corrected decrease this week, the asset stays one in all crypto’s prime performers, having gained almost 200% since its April low.
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