Core Scientific (CORZ) plans to shift part of its Bitcoin mining footprint in Pecos, Texas, toward AI-focused data center operations. Cointelegraph reported the company is developing a campus designed for up to 1.5 gigawatts (GW) of total capacity, with roughly 1 GW expected to be offered for lease. A key element of the plan is the conversion of about 300 megawatts (MW) currently used for Bitcoin mining into data center capacity for AI and high-performance computing workloads. Core Scientific has also acquired more than 200 acres of additional land to support the buildout. The pivot comes as Bitcoin mining economics face pressure from power costs and tighter regulatory attention, while demand for AI infrastructure continues to rise alongside advances in machine learning and cloud computing. By reusing existing power and cooling infrastructure, the company aims to shorten deployment timelines and limit upfront capital needs compared with building a greenfield data center. Industry observers increasingly view mining-to-AI conversions as a logical next step, given that miners often control attractive assets such as large power contracts, substations, and purpose-built facilities. JPMorgan analysts have noted that this dynamic could contribute to a new class of hybrid facilities capable of supporting both blockchain and AI workloads. Texas's deregulated power market and access to competitive electricity pricing, including renewable options, are central to the Pecos site's appeal for energy-intensive AI training. Grid reliability during extreme weather remains a key operational risk in the state, typically addressed through redundancy, backup generation, and energy-management strategies. From a technical standpoint, the transition requires a hardware and facility redesign: ASIC machines used for Bitcoin mining are not suited for AI tasks, which rely on GPU clusters and high-throughput networking. Cooling upgrades are also expected to manage higher heat densities. Core Scientific's experience running large-scale sites—the company manages more than 700 MW of Bitcoin mining capacity across multiple locations—may help execute the conversion and scale operations. Core Scientific has not provided a detailed completion schedule. Industry estimates suggest an initial phase could come online within 18–24 months, with the 300 MW conversion likely preceding the larger, leaseable expansion that may require additional construction. Securing tenants for the roughly 1 GW of lease capacity will be critical; potential customers include major cloud platforms and AI startups, either through colocation or fully managed offerings. If successful, the project could intensify competition in the AI data center market, including against established hubs such as Northern Virginia and Silicon Valley, while reinforcing a broader trend of cryptocurrency infrastructure being redeployed for AI computing. Disclaimer: This information is not trading advice. Bitcoinworld.co.in accepts no liability for investment decisions made based on this content. Conduct independent research and/or consult a qualified professional before making any investment decisions.

A South Korean court has granted Coinone temporary relief, suspending the Financial Intelligence Unit's (FIU) partial business ban until May 29. The Seoul Administrative Court issued the order on April 25, 2025, pausing the FIU's enforcement measures that included a 5.2 billion won fine and a three-month partial suspension. The court stressed the move is provisional and does not decide the merits of the dispute, but allows time for full judicial review. The FIU, which operates under the Financial Services Commission (FSC), announced the sanction on April 13, 2025. Regulators said Coinone violated the Act on Reporting and Using Specified Financial Transaction Information, citing alleged failures to report suspicious transactions and shortcomings in customer due diligence. The partial suspension was set to begin April 29 and would have barred new customers from transferring virtual assets, a restriction that could have sharply curtailed user growth. The 5.2 billion won penalty (about $3.9 million) ranks among the largest levied against a South Korean crypto exchange. While existing users would have remained unaffected, the curbs on new customer onboarding were expected to weigh on growth and competitiveness. In granting the stay, the court pointed to potential irreparable harm to Coinone, possible procedural defects in the FIU's process, and broader public-interest considerations, including the risk of market disruption and damage to consumer confidence. Coinone may continue normal operations, including onboarding new users, while the case proceeds. The decision is being closely watched across the domestic crypto sector as the FIU steps up enforcement actions. Market participants see the outcome as potentially shaping how future regulatory penalties are challenged in court and how aggressively the FIU pursues sanctions. Key dates: - April 13, 2025: FIU fines Coinone 5.2 billion won and orders a three-month partial business suspension. - April 25, 2025: Seoul Administrative Court grants a temporary suspension of the FIU measures. - April 29, 2025: Planned start date for the suspension, now blocked by court order. - May 29, 2025: Current expiry of the temporary suspension, pending any extension or further ruling. Legal observers described the order as a meaningful procedural check on regulatory power, while noting it is not a determination on wrongdoing. For users, trading continues as normal and new accounts can be opened during the suspension period. The core legal dispute remains unresolved, and Coinone could still face restrictions later if the FIU penalty is ultimately upheld. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Block Inc., the Jack Dorsey-led company behind Square and Cash App, said it held 28,355 bitcoin as of the end of the first quarter, worth about $2.2 billion, according to a Proof of Reserves report released Monday. The filing breaks the total into 19,357 bitcoin held on behalf of customers, valued at roughly $1.5 billion, and 8,997 bitcoin held in Block's corporate treasury, valued at about $692.3 million. The company said third-party audit firms verified the figures. In its announcement, Block said users should be able to verify their bitcoin holdings rather than rely on trust, adding that anyone can independently confirm the company's reserves using on-chain signatures and that the reserves are "actively controlled, not just historically observed." With just under 9,000 bitcoin on its balance sheet, Block ranks 14th among corporate bitcoin holders, sitting just behind Trump Media, according to BitcoinTreasuries.net. Proof of Reserves gained momentum after FTX's collapse in November 2022, as crypto exchanges and financial firms increasingly adopted the practice to bolster transparency. Some bitcoin advocates remain skeptical. In May 2025, Michael Saylor, executive chairman of the largest corporate bitcoin holder, criticized current proof-of-reserves practices, arguing that publishing addresses can expose transaction history and create security risks for issuers, custodians, exchanges, and investors. He also said the approach provides asset proof, not proof of liabilities. Block is scheduled to report first-quarter earnings on May 7. The company posted net income of $115.7 million in the fourth quarter of 2025, down from $1.9 billion a year earlier.

Fourteen DeFi protocols have now pledged more than $161 million in ETH to DeFi United's effort to restore rsETH backing following the April 18 exploit. Compound is the latest to join, proposing a contribution of 1,900 to 3,000 ETH—worth up to $6.9 million—subject to a community governance vote. Compound said on April 28 that its proposal seeks preliminary approval from the community, with the exact amount within the 1,900–3,000 ETH range to be set later by the Compound Governance Working Group in coordination with Gauntlet, security service providers, and the Compound Foundation. DeFi United's technical plan targets the recovery of about 16,776 ETH from exploiter-related positions on Compound, alongside a separate 13,000 ETH recovery effort on Aave. The proposal outlines conditions for releasing funds, including full restoration of rsETH collateral, equal treatment of all affected parties, and a clear execution plan with transparent updates to governance. Roughly 1,857 ETH of Compound's potential commitment would be contingent on successfully recovering the attacker's active position. The DAO would retain the option to reduce or withdraw support if the conditions are not met. Compound's move adds to one of the largest coordinated recovery efforts in DeFi history. Consensys and Ethereum co-founder Joe Lubin have committed 30,000 ETH, which Lubin described as "a broad, coordinated response to protect users." Aave has pledged 25,000 ETH, with founder Stani Kulechov adding a personal commitment of 5,000 ETH. Mantle provided a 30,000 ETH credit facility, while Lido committed up to 2,500 stETH. The Avalanche Foundation, another backer, said the episode amounts to a public stress test for DeFi—one it argued is unfolding "with transparent books and real accountability." Governance votes remain pending across several participating protocols.

Israel's Capital Market Authority has approved the launch of a shekel-backed stablecoin issued by Bits of Gold, a licensed domestic crypto operator, the company said in a LinkedIn post. The token, branded BILS, is fully reserved and pegged 1:1 to the Israeli new shekel, and will run on the Solana blockchain following a multi-year regulatory pilot. BILS is described as the Middle East's first government-approved, fiat-backed stablecoin. The project was developed with support from Fireblocks, with auditing by EY. Bits of Gold said the stablecoin is designed for real-time payments, on-chain trading and programmable finance, giving users local-currency exposure rather than relying on dollar-pegged tokens. CoinGecko data shows the global stablecoin market has grown beyond $316 billion in total capitalization, with more than 99% tied to the U.S. dollar. USDT and USDC account for the bulk of activity, effectively making stablecoins a dollar monoculture. Regulators will limit BILS' initial rollout to a predetermined scale, with institutional and other qualified participants expected to be prioritized. The Capital Market Authority also set stringent requirements covering technology risk management, information security, business continuity and ongoing reporting. Israel's regulators are also preparing a broader Stablecoin Law, expected to be released for public comment soon, to formalize the regulatory framework for digital currency issuance. The Bank of Israel has been exploring a central bank digital currency, but a decision is not expected before 2026 at the earliest. BILS is positioned as a private-sector product operating under government supervision. Israel's stance on crypto has shifted from skepticism to more cautious engagement. The country's strong base in cybersecurity and blockchain development is often attributed to its tech-centric economy and mandatory military service that channels talent through intelligence units such as 8200. Bits of Gold said BILS would allow users to hold a digital shekel in a private wallet, transfer shekels instantly at any hour, and trade digital assets against the shekel around the clock.

Patrick Witt, the White House's top crypto adviser, told attendees at Bitcoin 2026 in Las Vegas that the Trump administration expects to announce a significant update to the Strategic Bitcoin Reserve in the coming weeks. Witt, executive director of the President's Council of Advisors for Digital Assets, said his team has made progress on the legal framework supporting the reserve and aims to move before new legislation is introduced on Capitol Hill. The U.S. government currently holds about 328,372 BTC—valued near $25 billion at recent prices—making it the largest known sovereign holder of Bitcoin and accounting for roughly 1.56% of circulating supply. The holdings were accumulated primarily through criminal forfeitures and law-enforcement seizures rather than market purchases. An executive order issued by Trump in March 2025 instructed federal agencies to consolidate those bitcoins into the reserve and prohibited future Treasury sales. Witt said the executive order alone does not provide a lasting guarantee: without congressional action, the no-sale stance remains a policy choice of the current administration rather than a permanent statutory protection. Over the past year, federal departments have been cataloging and pooling bitcoin from multiple forfeiture channels into a unified custody structure. Witt indicated that this internal consolidation effort has set the stage for the forthcoming announcement. Witt, who assumed the role after Bo Hines left the Crypto Council, did not provide details, describing the next step as substantive rather than merely procedural. In Washington, lawmakers are expected to view the late-2026 National Defense Authorization Act markup as a plausible path to codify the reserve. If reserve language survives that process, the bitcoin could become a permanent national asset backed by statute—a development some analysts associate with potential upside for BTC. Markets are watching whether the announcement points to new acquisition approaches, changes in custody arrangements, or clearer accounting. Witt's comments suggest the administration may be preparing to move beyond legal interpretation and toward concrete implementation. Any proposed framework is expected to face scrutiny from crypto czar David Sacks and lawmakers monitoring Senate activity on reserve infrastructure. The coming weeks will test whether the executive branch can translate custody mechanics into a durable federal Bitcoin policy.

Jack Dorsey's fintech firm Block reported holding 28,355 BTC, valued at roughly $2.2 billion, in its latest third-party audited proof-of-reserves filing. The company said 19,357 BTC are held on behalf of customers, while 8,997 BTC sit in its corporate treasury, currently valued at $692.3 million. The disclosure ranks Block as the world's 14th-largest corporate Bitcoin holder, just behind Trump Media based on recent corporate treasury standings.

ChainCatcher reports that Arkham data shows Bitmine has newly staked about $214 million in ETH. Bitmine's total staked ETH holdings are valued at roughly $8.45 billion, representing 9.5% of all ETH staked on the network.

Sen. Thom Tillis (R-N.C.) said he will vote against the CLARITY Act unless the Senate adds explicit ethics language addressing President Donald Trump's crypto ties, creating a new hurdle for the bipartisan support Republicans need to advance the legislation. Tillis, a senior member of the Senate Banking Committee and a participant in the negotiations, said the bill must include an ethics provision before it leaves the Senate. Without it, he would shift from helping negotiate the package to opposing it, according to reports. The dispute is focused on the Trump family's expanding crypto footprint, estimated to exceed $1 billion. The portfolio includes World Liberty Financial, a stablecoin known as USD1, a Trump-branded memecoin, and broader digital-asset ambitions tied to Trump Media and Technology Group. Democrats argue that passing light-touch crypto rules while the president's family profits from the sector presents a clear conflict of interest. Sen. Ruben Gallego (D-Ariz.), who has indicated general support for the CLARITY Act, said there will be no final bill absent a bipartisan agreement on ethics provisions. Sen. Adam Schiff (D-Calif.), who is leading Democratic negotiations alongside Gallego, said talks are moving again after months of stalemate, with gaps narrowing. Democrats are pushing for a prohibition on federal employees, including the president, sponsoring, endorsing, or issuing digital assets. On the Republican side, negotiations are being handled by Sens. Cynthia Lummis (R-Wyo.) and Bernie Moreno (R-Ohio), working with White House crypto adviser Patrick Witt. Adding ethics language may prove procedurally difficult. The Senate Banking Committee, which has jurisdiction over the bill, does not directly control Senate ethics rules, meaning any such provisions may need to be attached through a separate mechanism before a full Senate vote. With midterm elections approaching and time on the legislative calendar tightening, Tillis's stance raises the pressure on the White House to accept stronger ethics constraints if it wants to keep the bill on track ahead of an expected May markup. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for any losses resulting from the use of referenced content, products, or services. Readers should exercise caution before taking action related to any company.