The Bitcoin mining business is squarely within the crosshairs of the US-led commerce battle, with publicly traded miners receiving hefty invoices from US Customs and Border Protection (CBP). Yet, 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 extra duties.
Beyond mining headwinds, the broader blockchain sector is intensifying efforts to court docket Wall Street as institutional adoption accelerates throughout exchange-traded funds, company treasuries and tokenized real-world property. Ether (ETH) treasury corporations are additionally ramping up accumulation, whereas experiences counsel China could also be making ready to greenlight yuan-backed stablecoins.
This week’s Crypto Biz e-newsletter explores these developments, highlighting The Miner Mag’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 battle, with public miners CleanSpark and IREN warning of potential tariff liabilities of $185 million and $100 million, respectively, in accordance with The Miner Mag.
Both firms mentioned they obtained invoices from US Customs and Border Protection, which alleged that sure mining rigs had been of Chinese origin. Under the White House’s revised tariff schedule, gear sourced from China is now topic to an efficient obligation of 57.6%.
Beyond tariffs, The Miner Mag famous that mining revenues “stay underneath stress,” with transaction charges slipping under 1% of block rewards.
Production 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 geared toward attracting institutional buyers to its blockchain — a transfer that underscores the business’s rising effort to court docket Wall Street.
The new entity, Polkadot Capital Group, is predicated within the Cayman Islands and was established in response to rising institutional demand for digital property, the corporate mentioned. It additionally pointed to current optimistic regulatory indicators within the United States as a catalyst for the launch.
Polkadot Capital Group will deal with 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
Despite its sweeping restrictions on digital property, China is reportedly contemplating permitting the event of yuan-backed stablecoins — a possible coverage shift that may mark a significant reversal for the world’s second-largest economic system.
Citing sources conversant in the matter, Reuters mentioned authorities in Beijing are open to approving yuan-backed stablecoins as a part of a broader technique to broaden the foreign money’s position in international commerce. Such a transfer would signify 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 within the United States, which just lately handed the GENIUS stablecoin invoice. The whole worth of stablecoins in circulation has now surpassed $288 billion, with US greenback–backed tokens accounting for the overwhelming majority.
SharpLink luggage 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 buy, valued at $667.4 million, brings SharpLink’s whole holdings to 740,760 ETH — price roughly $3 billion at present market costs.
Even with the large haul, SharpLink will not be the most important Ether treasury holder. That title belongs to BitMine, which acquired 373,000 ETH on Monday, lifting its whole holdings to 1.52 million ETH, valued at about $6.5 billion.
While ETH has corrected decrease this week, the asset stays one among crypto’s prime performers, having gained almost 200% since its April low.
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