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7 May 2026, 11:30

Core Scientific Buys Polaris Bitcoin Mine for $421M Oklahoma AI Power Expansion

Core Scientific (NASDAQ: CORZ) is expanding its Oklahoma footprint through a $421 million acquisition of a neighboring bitcoin mining operation, as the company races to assemble gigawatt-scale power capacity for AI and high-performance computing customers. This article first appeared in The Energy Mag. The original article can be viewed here. The Energy Mag (formerly The

7 May 2026, 10:57

Core Scientific posts $347.2 million loss as revenue surges

🚨 Core Scientific lost $347.2 million but revenue hit $115.2 million. Massive shift from bitcoin mining to booming AI data centers. 🔑 Critical data: One customer now brings in 67% of $CORZ revenue. Continue Reading: Core Scientific posts $347.2 million loss as revenue surges The post Core Scientific posts $347.2 million loss as revenue surges appeared first on COINTURK NEWS .

7 May 2026, 10:40

Core Scientific Sells $208.3 Million in Bitcoin as It Pivots to AI Data Centers

BitcoinWorld Core Scientific Sells $208.3 Million in Bitcoin as It Pivots to AI Data Centers Bitcoin mining firm Core Scientific sold 2,385 BTC for approximately $208.3 million during the first quarter of 2025, according to a report by CoinDesk. The sale marks a significant strategic shift as the company continues to transition its business model toward AI data center operations. Strategic Shift from Mining to AI Infrastructure Core Scientific, one of the largest publicly traded Bitcoin mining companies in North America, has been gradually reallocating resources from cryptocurrency mining to high-performance computing for artificial intelligence workloads. The proceeds from the recent BTC sale will be used to fund capital expenditures related to data center construction and to provide working capital for ongoing operations. This pivot reflects a broader trend in the industry where mining firms, facing compressed margins after the 2024 halving and rising energy costs, are repurposing their infrastructure to serve the booming AI sector. Data centers originally designed for proof-of-work mining can be retrofitted to handle GPU-intensive AI training and inference tasks. Financial Implications and Market Context The sale price of approximately $87,300 per BTC aligns with the average market price during Q1 2025. Core Scientific’s decision to sell its mined Bitcoin rather than hold it signals a focus on liquidity and operational funding over speculative accumulation. The company emerged from Chapter 11 bankruptcy in early 2024 and has since been restructuring its balance sheet. Analysts note that the move could provide a more stable revenue stream compared to the volatile Bitcoin mining business. AI contracts typically offer longer-term, fixed-price agreements, reducing exposure to cryptocurrency price fluctuations. What This Means for the Crypto Mining Industry Core Scientific’s strategy may serve as a blueprint for other mining firms facing similar pressures. The convergence of crypto mining and AI infrastructure is creating a new asset class of flexible data centers capable of switching between workloads. This dual-use capability could make these facilities more attractive to investors and hyperscale cloud providers. However, the transition is not without risks. Retrofitting mining facilities for AI workloads requires significant upfront investment in cooling systems, networking equipment, and specialized GPUs. Core Scientific’s use of BTC sale proceeds to fund these upgrades suggests management is betting heavily on AI demand continuing to grow. Conclusion Core Scientific’s $208.3 million Bitcoin sale underscores a fundamental shift in the digital asset mining landscape. By funding its pivot to AI data centers, the company is positioning itself to capture growth in the AI sector while reducing reliance on cryptocurrency markets. The move highlights the increasing overlap between blockchain infrastructure and high-performance computing, a trend likely to shape the industry for years to come. FAQs Q1: Why did Core Scientific sell its Bitcoin instead of holding it? The company sold its BTC to raise capital for data center construction and working capital as it transitions from a pure Bitcoin mining operation to an AI-focused data center provider. The sale provides liquidity for infrastructure investments. Q2: How does the AI data center pivot affect Core Scientific’s business model? The pivot allows Core Scientific to diversify revenue streams beyond volatile cryptocurrency mining. AI contracts typically offer more predictable, long-term revenue, reducing exposure to Bitcoin price swings and potentially improving financial stability. Q3: Is this trend likely to continue among other Bitcoin mining firms? Yes, several major mining companies are exploring similar transitions. The 2024 Bitcoin halving reduced mining rewards, and rising energy costs have compressed margins. Repurposing infrastructure for AI workloads offers a path to more sustainable operations, though it requires significant capital investment. This post Core Scientific Sells $208.3 Million in Bitcoin as It Pivots to AI Data Centers first appeared on BitcoinWorld .

7 May 2026, 09:47

Trump Bitcoin Crypto Mining Company Just Lost $45 Million While BTC Trades Above $80,000 — What Went Wrong?

Trump American Bitcoin crypto posted a $45.2 million loss in Q1 2026 while BTC held above $80,000, and that contradiction is the story. The Trump crypto venture, backed publicly by Donald Trump Jr. and flush with $250 million in political-adjacent capital, is bleeding cash in an epoch where mining profitability demands hardware efficiency, not brand recognition. Political narrative and operational math are now moving in opposite directions, and the math is winning. Bitcoin (BTC) 24h 7d 30d 1y All time Trump American Bitcoin Crypto Lost $45M. Here’s What the Math Actually Shows. The core problem is structural. American Bitcoin’s average cost to mine one Bitcoin sits at approximately $68,000 per coin, against a spot price that briefly touched $81,425, leaving a razor-thin margin that evaporates the moment energy costs spike or hashrate efficiency lags. The firm’s fleet efficiency stands at 18 J/TH, compared to Marathon Digital’s 14 J/TH, meaning ABTC burns meaningfully more power per unit of computational work. That gap compounds daily. Revenue dropped 41% year-over-year in Q1 2026, and operational hashrate fell from 10 EH/s to 7.2 EH/s – a 28% contraction that directly cut Bitcoin output. The company mined 4,500 BTC across all of 2025 at that $68,000 average cost, according to company filings, while simultaneously carrying $200 million-plus in debt servicing from Texas and Wyoming facility expansions. Source: American Bitcoin Earnings Q4 2025 alone produced a $59.5 million net loss on a $70 million equipment impairment as Bitcoin dropped 23% from $105,000 to $81,000. Energy costs are the structural anchor. Glassnode data puts ABTC’s average energy rate at approximately $0.045/kWh, the upper ceiling of what domestic miners can sustain in the current post-halving epoch. That is not bad luck. That is the April 2024 halving working exactly as designed, cutting block rewards in half while U.S. energy costs have risen 35% since 2025, per TipRanks analyst James Thorne’s February 28, 2026 assessment. Discover: The best crypto to diversify your portfolio with Does Political Backing Move Bitcoin Mining Economics? The Trump endorsement has delivered measurable results. Donald Trump Jr. joined the American Bitcoin board on September 10, 2025, and within weeks, the company closed a $250 million private placement led by Trump-affiliated World Liberty Financial. ABTC’s valuation surged roughly 40% in Q4 2025 on the back of the political association, per Galaxy Digital’s Alex Thorn in a March 5, 2026, report. Capital access and investor sentiment – those doors opened. What it cannot open: the difficulty adjustment. Political capital does not negotiate with the Bitcoin protocol. The network’s hashrate continued climbing post-halving, driven in part by what Thorn described as “floods of cheap Chinese hashrate,” compressing margins for every domestic miner regardless of who sits on their board. AMBT stock fell 12% following the Q1 2026 earnings release, underperforming both Riot Platforms and Marathon Digital. The market priced the gap between narrative and output. That legal overhang adds another variable that brand association cannot neutralize. Trump crypto positioning generates capital raises and regulatory goodwill; the administration’s March 2026 mining incentive bill targets $1 billion in domestic miner subsidies by Q3 2026, which could matter. Discover: The best pre-launch token sales The post Trump Bitcoin Crypto Mining Company Just Lost $45 Million While BTC Trades Above $80,000 — What Went Wrong? appeared first on Cryptonews .

7 May 2026, 09:42

Cardano News: Preview Network Milestone Tracking the 80% SPO Threshold for Mainnet

Cardano van Rossem hard fork news landed on the preview test network on May 5, with Intersect, the member-based organization coordinating Cardano’s technical roadmap, confirming both the governance action submission and the release of Cardano Node version 11.0.1 Pre-Release simultaneously. The upgrade moves Protocol Version 11 one step closer to mainnet , with the critical variable now shifting entirely to SPO (Stake Pool Operator) readiness: at least 85% of stake pools by active stake must upgrade before ratification can proceed. For ADA holders watching the Voltaire era governance machinery run in real time, this is the preview phase working exactly as designed. Source: Intersect Node 11.0.1 is the first release to formally support Cardano’s intra-era hard fork mechanism – meaning the chain upgrades protocol version without triggering an era transition out of Conway. Transaction shape doesn’t change. Ecosystem disruption is structurally minimized. The release also bumps cardano-api and cardano-cli to their 11.0 series and advances the experimental hard fork target to protocol version 12, signaling the development pipeline is already looking beyond the current upgrade. The upgrade bundles five new Plutus primitive sets, defined in CIP-0109, CIP-0132, CIP-0133, CIP-0138, and CIP-0153, and unifies built-in functions across Plutus V1, V2, and V3. That last point matters: existing V1 and V2 scripts gain access to the full expanded built-in set after the fork, which expands DApp capabilities without requiring contract rewrites. Cardano (ADA) 24h 7d 30d 1y All time Discover: The best crypto to diversify your portfolio with What are the 85% SPO Threshold News Triggers for Cardano The 85% active-stake threshold is not a soft target; it is a constitutional requirement embedded in Cardano’s governance framework. Under the rules established through the Voltaire era’s on-chain governance model, the hard fork governance action cannot be ratified until SPOs representing at least 85% of active stake have upgraded to a node version supporting Protocol Version 11. DReps (Delegate Representatives) and the Constitutional Committee must also vote before the action is enacted on-chain. The threshold logic exists to prevent a chain split. If a critical mass of block-producing nodes hasn’t upgraded, the network risks producing incompatible blocks at the fork boundary, the same failure mode that caused a mainnet chain partition in late 2025 when a malformed delegation transaction forced emergency SPO upgrades to node 10.5.3. That incident made clear that SPO coordination isn’t procedural theater; it’s the actual security layer. The current SPO upgrade percentage on preview is not yet publicly confirmed at a precise figure, but the historical pattern from prior Cardano hard forks, including the Chang upgrade cycle, suggests the initial wave of large, professionally run pools upgrades within the first 72 to 96 hours of a preview release. Smaller home-hosted pools typically lag by one to two weeks. Community tracking tools, including Cardano Scan and PoolTool, are the live data sources to watch as the count climbs toward the 85% mark. ATTENTION The van Rossem Hard Fork GA has been submitted to the Preview test network today. https://t.co/a49iLgG3e3 Cardano Node version 11.0.1 Pre-Release is also now available. This version is an essential requirement to safely cross the hard fork. SPOs, DApps and… pic.twitter.com/UotUWDtuet — Intersect (@IntersectMBO) May 5, 2026 Intersect’s announcement was direct: “ATTENTION The van Rossem Hard Fork GA has been submitted to the Preview test network today. Cardano Node version 11.0.1 Pre-Release is also now available. This version is an essential requirement to safely cross the hard fork. SPOs, DApps, and developers are urged to upgrade immediately.” The Chang hard fork experience – where exchange and dApp lags delayed mainnet activation even after SPOs crossed the initial threshold – means the pressure is now on the full ecosystem stack, not just pool operators. Discover: The best pre-launch token sales The post Cardano News: Preview Network Milestone Tracking the 80% SPO Threshold for Mainnet appeared first on Cryptonews .

7 May 2026, 08:30

American Bitcoin Stock Jumps Despite $81.8M Q1 Loss

Mining revenue dropped to $62.1 million from $78.3 million in the previous quarter, while operating expenses reached $150.7 million. Despite the loss, the company mined a record 817 BTC, purchased 803 BTC for its treasury, and increased its total holdings to 7,021 BTC. American Bitcoin Posts Heavy Loss ABTC, the bitcoin mining and treasury company that was co-founded by Eric Trump, reported an $81.8 million net loss for the first quarter of 2026. This added to the $59.5 million loss that was recorded in the previous quarter. The company generated $62.1 million in mining revenue during the period, down from $78.3 million in Q4 of 2025, as declining Bitcoin prices weighed heavily on its financial performance. BTC’s price action over the past 3 months (Source: CoinCodex) A major contributor to the quarterly loss was a $117.2 million hit tied to the falling value of the company’s digital asset holdings. Bitcoin declined roughly 22% during the quarter, which reduced the valuation of American Bitcoin’s reserves. Total operating expenses for the quarter reached $150.7 million. Despite the loss, CEO Mike Ho explained that the underlying business remained profitable when excluding the non-cash mark-to-market accounting adjustments required under FASB rules. He also pointed out that the company did not sell any Bitcoin during the quarter. American Bitcoin achieved record production levels in Q1 after mining 817 BTC and purchasing an additional 803 BTC for its treasury strategy. This brought the firm’s total Bitcoin holdings to 7,021 BTC by the end of March. The company also said its mining platform maintained a gross margin above 50% despite adverse market conditions. In addition to this, American Bitcoin improved its mining efficiency by reducing the average cost to mine one Bitcoin to $36,200 from $46,900 in the previous quarter. According to the firm, the improvement came from higher production volumes spread across a relatively stable cost base, combined with effective energy pricing strategies. Eric Trump described the quarter as evidence of the company’s ability to efficiently accumulate Bitcoin at scale. He stated that the company mined Bitcoin at a 47% discount to spot prices while continuing to expand its strategic reserve. He also pointed out that American Bitcoin had become the world’s 16th-largest corporate Bitcoin holder within just eight months of becoming a public company. ABTC’s price over the past month (Source: Google Finance) Shares of ABTC rose 1.63% on Wednesday to close at $1.25. The stock has jumped more than 40% over the past month, although it is still down more than 72% over the past six months.