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CoreWeave plans to acquire data center operator Core Scientific in an all-stock transaction valued at $9 billion.

Shares of crypto miner Bit Digital surged 18% Monday after the company confirmed it has dumped its bitcoin holdings and built one of the largest corporate treasuries of ether, positioning itself squarely in the staking economy.

The Open Network (TON) Foundation has tempered expectations around its proposed “Golden Visa” offering in the United Arab Emirates, clarifying that no official government partnership exists and that the idea remains in the earliest stages of discussion.

Top stories in the Crypto Roundup today:

  • CoreWeave to Acquire Core Scientific in $9B Stock Deal
  • Bit Digital Shares Jump 18% as Miner Swaps Bitcoin Reserves for Ether
  • TON Foundation Walks Back UAE ‘Golden Visa’ Staking Plan After Government Pushback

 
24 hours chart of the price of BTC
 

CoreWeave to Acquire Core Scientific in $9B Stock Deal

 

CoreWeave plans to acquire data center operator Core Scientific in an all-stock transaction valued at $9 billion.

The purchase will give CoreWeave about 1.3 gigawatts of power capacity spread across Core Scientific’s U.S. data centers, much of it already hosting AI workloads. 

CoreWeave’s CEO, Michael Intrator, said the move would eliminate leasing costs and let the company “participate all along the stack,” echoing CoreWeave’s recent acquisition of AI development platform Weights and Biases.

If finalized, the deal is expected to reduce CoreWeave’s annual costs by $500 million by the end of 2027. For context, a gigawatt of power can supply roughly 750,000 American homes, an amount that underscores how AI data centers increasingly resemble industrial-scale power consumers rather than simple server rooms.

 
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Bit Digital Shares Jump 18% as Miner Swaps Bitcoin Reserves for Ether

 

Shares of crypto miner Bit Digital surged 18% Monday after the company confirmed it has dumped its bitcoin holdings and built one of the largest corporate treasuries of ether, positioning itself squarely in the staking economy.

The New York-based miner said it now holds around 100,603 ETH worth $189.2 million, a jump from 24,434 ETH it reported at the end of March.

The move was funded through a $172 million public equity raise plus the sale of 280 bitcoin, according to the company’s update.

Bit Digital announced in late June that it would pivot entirely to staking ether, the native token of the Ethereum blockchain, amid mounting pressures on bitcoin miners.

 
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TON Foundation Walks Back UAE ‘Golden Visa’ Staking Plan After Government Pushback

 

The Open Network (TON) Foundation has tempered expectations around its proposed “Golden Visa” offering in the United Arab Emirates, clarifying that no official government partnership exists and that the idea remains in the earliest stages of discussion.

The statement comes after TON announced on July 6 a program promising a 10-year UAE residency visa for individuals who stake $100,000 worth of Toncoin (TON) for three years and pay a $35,000 processing fee. 

At the time, the announcement suggested blockchain-backed investments could open a path to residency in the UAE, a prospect that quickly drew skepticism from regulators.

In response, the UAE government said digital asset investments fall under separate regulations and do not qualify as criteria for the country’s Golden Visa program, which traditionally requires property ownership, significant public investments, or professional achievements in fields like science, art, or sports.

TON stressed in a follow-up release Monday that any Golden Visa initiative involving crypto remains purely conceptual. 

“To clarify, no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON,” the foundation said

 It added that any future offering would have to comply fully with UAE laws and regulations, and applications would remain subject to the government’s discretion.

 
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