According to Cointelegraph, Bitcoin mining company Hut 8 is set to expand its operations by establishing four new mining sites in Texas, Louisiana, and Illinois. This expansion will add 1.5 gigawatts of capacity, further solidifying the U.S. miners' dominance in the global hash rate. The company aims to broaden its geographic footprint and target markets where energy demand is rapidly increasing. Following the announcement, Hut 8 shares on Nasdaq surged by 10.5%, as reported by Google Finance. Currently, the company's 1 gigawatt capacity is 90% utilized. Hut 8 CEO Asher Genoot stated that by advancing more than 1.5 gigawatts of capacity, the company positions itself to more than double the scale of its platform and address the accelerating demand across energy-intensive use cases. According to fintech platform OneSafe, U.S. miners control 75.4% of the global hash rate. In 2024, the crypto mining industry created over 31,000 jobs in the United States, with major players including CleanSpark, Core Scientific, and Gryphon Digital Mining. The new facilities are designed for energy-intensive applications, such as high-performance computing, Bitcoin mining, and industrial uses like next-generation manufacturing. Additionally, Hut 8 supplies energy to the artificial intelligence sector. Hut 8, the parent company of American Bitcoin, a mining and treasury company linked to the Trump family, has facilities across Canada and the United States, with the majority located in Texas. The expansion comes amid varying state regulations on Bitcoin mining and a transitioning industry. In Texas, virtual currency mining facilities with a power of more than 75 megawatts must register with the Public Utility Commission of Texas due to growing concerns over the state energy grid and the influx of tech companies. In June 2024, Louisiana passed a bill supporting Bitcoin miners in industrial areas to boost the local economy, while also banning central bank digital currencies and affirming the right to self-custody. Illinois has yet to pass specific cryptocurrency mining regulations, but mining facilities have emerged in locations such as Bloomington-Normal and Effingham.

According to PANews, Canary Capital has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) in preparation for launching the $TRUMP ETF. This move marks a significant step for the investment firm as it seeks to introduce a new exchange-traded fund to the market.

According to PANews, Google Cloud has launched the L1 blockchain GCUL, which will utilize Python-based smart contracts. The initiative aims to serve as a neutral financial infrastructure, offering 'native commercial bank on-chain currency,' round-the-clock capital market infrastructure, and payment and agency functions. The plan is to make it accessible to Google's extensive network, which includes billions of users and hundreds of institutional partners. Currently, GCUL is in the private testnet phase. Earlier this year, a collaboration with the Chicago Mercantile Exchange (CME) was announced to pilot tokenized assets. More technical details are expected to be released in the coming months.

Polymarket has received a double-digit million investment from 1789 Capital while Donald Trump Jr has joined its advisory board. source: https://cryptonews.com/news/trump-jr-joins-polymarket-board-as-1789-capital-pours-millions/

Iran crypto flows dropped 11% so far this year to July, amid conflict with Israel, a $90 million hack on local crypto exchange Nobitex and Tether freezing 42 wallets. source: https://cointelegraph.com/news/iran-crypto-flows-fall-israel-conflict-nobitex-hack?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Europe’s push for a digital euro is colliding with U. S. stablecoin momentum, forcing policymakers to weigh the risks of public blockchains. source: https://decrypt.co/336892/digital-euro-ethereum-solana-europe-monetary-sovereignty

According to PANews, Bloomberg ETF analyst Eric Balchunas announced that U.S. asset management firm Rex Shares has filed an application to launch an ETF supporting BNB staking. This move marks a significant development in the ETF landscape, potentially offering investors new opportunities in the cryptocurrency market.

Economists warn that Trump’s pressure on the Fed could increase US borrowing costs. source: https://www.cryptopolitan.com/trump-threatens-us-borrowing/

"Ethereum has experienced a significant reduction of $10 billion in leveraged positions, indicating a notable decline in speculative trading. However, despite this major correction in leveraged investments, the continued excitement and fear of missing out (FOMO) among investors and traders are sustaining the bullish sentiment in the market, fueling optimism and motivating many to remain engaged in potential price increases." source: https://blocknews.com/eth-wipes-10b-in-leverage-but-fomo-keeps-bulls-alive/

Kristin Johnson resigns from CFTC, raising concerns about U. S. crypto regulation direction. source: https://coincu.com/357957-kristin-johnson-resigns-cftc-crypto-regulation

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Fundstrat’s Tom Lee said Ethereum may have reached its lowest point “within hours” as the crypto market began to recover. He highlighted that ETH’s current setup offers a strong risk-to-reward scenario, with a potential rebound to $5,100–$5,450 if the trend holds.