News linked to both this project and an event.
Odaily News, CryptoQuant analyst Axel Adler Jr. stated that Bitcoin's price has retraced approximately 20% over the past month, with two key on-chain indicators showing sustained market sentiment pressure. Among them, Bitcoin's MVRV Z-score has dropped from 0.95 a month ago to 0.32, far below the historical average of 1.71, indicating that the previous valuation premium has largely been digested and the market has entered a range more conducive to long-term accumulation.Meanwhile, Bitcoin's 7-day simple moving average of Net Realized Profit/Loss has been in negative territory for 22 consecutive days, meaning the market has been completing transactions at a loss since May 18. The indicator hit a low of approximately -$1.2 billion on June 6 and has since slightly recovered to around -$1.1 billion. Although market pressure is evident, it remains below the extreme levels of approximately -$2.2 billion seen during the 2022 bear market capitulation phase.Axel Adler Jr. pointed out that currently, a large number of holders are selling Bitcoin below their cost basis, reflecting significant market fear and capitulation sentiment. However, the MVRV Z-score remains above 0, suggesting that the market has not yet entered a deeply undervalued zone, nor has it presented a historically significant value trough.He believes that combining these two indicators, while market sentiment is relatively weak, valuations have clearly cooled down. Going forward, key focus points will be whether the Net Realized Profit/Loss can return above the zero line and whether the MVRV Z-score can maintain a positive value. If the MVRV Z-score falls below 0, or realized losses move closer to the extreme levels of 2022 once again, it could signal the onset of a deeper phase of market capitulation.
Jiang Zhuoer posted on platform X, stating that after selling 32 BTC, Strategy raised $181 million through the sale of common stock to purchase 1,550 BTC (approximately $100 million), with the remaining funds held as cash reserves. This move sustained MicroStrategy's "unshakable faith," as the amount of BTC bought far exceeded the amount sold, aligning with the principle of maximizing benefits. Jiang Zhuoer also stated that the current price is in an upward channel, and he will wait for further price increases before considering selling.Jiang Zhuoer added that as a "BTC maximalist" focused on coin-based holdings, his norm is to hold a full spot position, and therefore he has not opened short positions. The purpose of his swing trading operations is to increase the total number of coins held.
CryptoQuant analyst Crypto Dan noted that Bitcoin’s MVRV is currently at 1.1, approaching the historically significant low-valuation zone that has marked major market bottoms. If the price falls further to the $50,000 level, the MVRV could reach 1.0—the full low-valuation threshold. Historical data shows this level appeared at the bottom of bear markets in 2015, 2019, and 2022, each time serving as the starting point for strong medium- to long-term rebounds.
Jiang Zhuo’er, founder of the Litecoin mining pool B.TOP, posted his views on Strategy’s Bitcoin sales. He believes Strategy will not sell large amounts of Bitcoin—only small amounts to pay interest. Jiang argues that Strategy raises funds by issuing new STRC tokens to purchase additional BTC, while simultaneously selling a tiny amount of its early-acquired, low-cost BTC to generate accounting profits for paying STRC interest. This reflects its “rolling strategy.” However, if Strategy sold absolutely no BTC, investors might suspect it was using new funds to pay old interest. Small-scale sales generate genuine profits and help maintain Strategy’s image of “never selling Bitcoin,” thereby facilitating continued fundraising.
Odaily News, Glassnode co-founder Rafael posted on platform X to analyze the recent trend of Bitcoin prices. He pointed out that Bitcoin is currently trading in the $62,000 range, down nearly 50% from its all-time high, with a 24% decline in the past month. The price has now broken through the upper range of his pricing framework and entered a valuation cluster zone where bottoms have historically formed.Rafael further indicated that the market bottom cannot be confirmed in advance and can only be identified through probabilistic ranges and key price levels. Bitcoin has fallen below the breakeven line for median holders for the first time since December 2022, and is currently within a broader support zone: the median realized price is approximately $64,100, and the 200-week moving average is around $61,700. At this stage, the high-probability bottom range could be between $46,000-$54,000, while the $35,000-$40,000 area below that represents a rare "sell-off tail." Notably, the magnitude of cycle corrections is gradually diminishing: previous cycles saw drops of roughly 85%, 84%, and 77% from the peak, while this cycle has only declined about 50%. This suggests the high-probability bottom is more likely within the upper range, though extreme sell-offs cannot be ruled out.
According to GlobeNewswire, Nasdaq-listed Bitcoin mining company Keel Infrastructure (formerly Bitfarms) announced plans to raise $400 million through the issuance of convertible senior notes. The offering is expected to close around June 9, 2026, subject to market and other closing conditions. Proceeds will be used to pay related capped call transaction costs and for general corporate purposes, including long-term equipment deposits and credit guarantees for data center construction. If the underwriters exercise their over-allotment option, a portion of the net proceeds will be allocated to additional capped call transactions, with the remainder used for general corporate purposes.
Odaily Nasdaq-listed Bitcoin miner CleanSpark released its unaudited operational update for May 2026, disclosing a mining output of 671 BTC in May. However, during the same period, it sold 404 BTC from spot holdings and 250 BTC through option exercises. As of May 31, total Bitcoin holdings reached 13,470 BTC. CleanSpark also announced the appointment of a new Senior Vice President of Finance to strengthen financing capabilities for AI data center projects, aiming to transform into an AI and digital infrastructure platform. (Prnewswire)
Jeff Walton (@PunterJeff) of Strive stated that Strive is raising funds at a rate of $8.1 million per day. If this capital is used to pay dividends, it could support the issuance of $15.5 billion worth of SATA tokens. Jeff Walton indicated that this amount of capital is equivalent to purchasing approximately 175,000 BTC at current prices, which would increase its total BTC holdings to 10 times its current size. (BitcoinTreasuries.NET)
According to on-chain analyst PeckShield (@PeckShieldAlert), Strategy sold 32 BTC (average price: $77,135, totaling approximately $2.5 million—0.0038% of its 843,000-BTC holdings) for capital allocation, and concurrently sold 801,994 common shares, raising roughly $128.3 million. This move symbolically broke its “never sell” principle, triggering market volatility: sUSDat—a staked stablecoin fully backed by digital credit (STRC)—briefly dropped nearly 7% to below $0.93 before rebounding to $0.98.
Odaily Odaily Alexandre Laizet, director of Capital B’s Bitcoin strategy board, stated on X that the company has submitted a new proposal to the board, seeking shareholder approval for a capital raising authorization of up to $122 billion. The proposal aims to accelerate its Bitcoin treasury reserve strategy, including a capital increase of up to €5 billion (equivalent to $5.8 billion) through 125 billion shares at current par value, and a credit instrument authorization of up to €100 billion (equivalent to $116 billion).Shareholders can vote online before the company's joint general meeting of shareholders on June 17. Previously, Capital B purchased 192 Bitcoins for $15.2 million, and subsequently acquired an additional 4 Bitcoins, bringing its total holdings to 3,139 Bitcoins. (cointelegraph)
According to official announcements, Deepcoin, a global cryptocurrency exchange, has officially obtained the Bitcoin Service Provider (BSP) license issued by the Central Reserve Bank of El Salvador, enabling it to offer Bitcoin custody, Bitcoin trading, and related exchange services within the country’s regulatory framework. This license is a key authorization under El Salvador’s Bitcoin regulatory system; applicants must meet requirements in governance, risk management, cybersecurity, and anti-money laundering (AML)/countering the financing of terrorism (CFT) compliance. Deepcoin stated that this approval marks a new milestone in its global compliance strategy.
French listed company Capital B (ALCPB) is seeking shareholder approval to raise up to $58.2 billion through a new share issuance and up to $116.4 billion through credit instruments to increase its BTC holdings. (BitcoinTreasuries.NET)
According to independent analyst Markus Thielen, Strategy’s recent small-scale Bitcoin sale following its May earnings call was interpreted by the market as a test of market reaction and the flexibility of its capital allocation strategy. Analysts noted that while Strategy remains highly bullish on Bitcoin, the success and expansion of its STRC preferred stock financing instrument may take precedence in its overall financial arrangements. This move breaks the company’s “buy-only, never-sell” market image maintained for nearly six years; given Strategy’s strong influence on Bitcoin demand, this shift is quietly reshaping market expectations.
According to the Central Bank of Russia’s “Financial Stability Review,” Russian private investors currently hold approximately 3.8 billion rubles in cryptocurrency-linked financial instruments—a figure nearly unchanged from 3.7 billion rubles six months earlier—indicating stagnation in market interest growth. Of this amount, 1.7 billion rubles flowed into crypto-linked corporate bonds; 5,600 investors collectively held cryptocurrency futures positions worth 1.7 billion rubles; and roughly 3,800 investors allocated 354 million rubles to digital financial assets pegged to Bitcoin and Ethereum. Major issuers include large banks such as Sber and VTB. Meanwhile, the Moscow Exchange has progressively launched Bitcoin and Ethereum futures, along with related ETFs, and will introduce Solana, Ripple, and TRON futures in May 2026.
market analysts have pointed out that if Elon Musk's proposed merger between SpaceX and Tesla proceeds, SpaceX may need to issue new shares equivalent to 94% of its current outstanding shares to acquire Tesla, increasing the total share count to approximately 8 billion. However, the financial logic of the transaction faces challenges. Tesla's GAAP net profit over the past 12 months has dropped from $15 billion in 2023 to $3.9 billion. After excluding regulatory credit revenue and Bitcoin gains, its core operating profit stands at only about $2.3 billion.Analysts believe that this transaction may essentially be an attempt to use a high-valuation asset to acquire another similarly overvalued company, leaving significant uncertainty regarding its long-term profitability and cash flow performance. The combined company's valuation could reach $3.4 trillion, with SpaceX estimated at $1.75 trillion and Tesla's current market cap around $1.65 trillion. Musk may be leveraging the high valuation from SpaceX's impending IPO to support Tesla, which is under earnings pressure. (Fortune)
Bitcoin mining company IREN announced the completion of a $3.65 billion investment-grade GPU financing to support its AI cloud contract signed with Microsoft. The financing includes $2.1 billion in US private placement bonds and $1.55 billion in delayed-draw term loans, with a blended debt cost of 6.00%. It is reported that this financing has been assigned ratings of A and A (low) by Fitch and DBRS, respectively, making it the highest-rated investment-grade GPU financing project publicly disclosed to date, as well as the first GPU financing case in the US private market. IREN stated that the financing is secured by GPU assets and related contract cash flows, which helps optimize its capital structure and supports the company's plan to expand its AI Cloud capacity to 480MW by the end of 2026.
According to the UK’s Financial Times, as prices of crypto assets such as Bitcoin weaken, some crypto treasury firms—whose core business is holding crypto assets—have begun pivoting to a new financing instrument dubbed “Digital Credit” following declines in their stock prices. This strategy, promoted by the firm, offers investors high-yield perpetual preferred shares, with proceeds used to continue purchasing Bitcoin. Since its launch roughly 10 months ago, the initiative has attracted approximately $10.5 billion in inflows. Several crypto reserve companies are now planning to emulate this model, including Strive Asset Management, The Smarter Web Company, and Capital B.
: Texas Deputy Comptroller Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. Established pursuant to Senate Bill 21, the committee includes CleanSpark President and CFO Gary Vecchiarelli, Bitcoin mining firm Cormint founder and CEO Jamie McAvity, Southern Methodist University law professor Carla Reyes, and investment executive Laurie Dotter. They will advise the Comptroller on Bitcoin valuation, custody, and risk management. (The Block)
Bit Digital announced it will provide a $100 million delayed draw term loan facility to a subsidiary of WhiteFiber, an artificial intelligence infrastructure and high-performance computing provider in which it holds a majority stake. The facility can be expanded to $150 million upon mutual agreement and is intended to support WhiteFiber's recent expansion plans in high-performance computing and artificial intelligence.Bit Digital expects that draws under this facility will be funded in whole or in part through a credit line secured by Ethereum. This arrangement allows Bit Digital to earn a financing spread on the loan assets while maintaining exposure to Ethereum.Bit Digital has fully exited its Bitcoin mining operations. The company reported total revenue of $27.9 million and a net loss of $146.7 million for the first quarter of 2026. (The Block)
The stock prices of Bitcoin mining companies transitioning into AI and hyperscale computing continue to climb. IREN rose over 13% on Wednesday, nearing its all-time high. The company previously announced a $3 billion convertible bond offering, partnered with Nvidia to build 5 GW of AI data centers, and acquired Mirantis for $625 million; on Tuesday, it also reached a $1.6 billion agreement with Dell to supply Blackwell AI systems. Both Cipher and Hut 8 hit new record highs, with Cipher rising approximately 9.5% to $25, and Hut 8 increasing nearly 5% to $118. Hut 8 has surged nearly 600% over the past year. TeraWulf rose over 6% on Wednesday and has gained approximately 800% in the past year, with its HPC business quarterly revenue exceeding Bitcoin mining revenue for the first time.