Bitdeer, led by Jihan Wu, reported 71 EH/s in total hash rate under management, overtaking MARA’s 61.7 EH/s energized hash rate. The achievement is driven by its self-developed SEALMINER chips and AI expansion, though metric differences spark debate.
BIT co-founder and CCO Cynthia Wu said the Matrixport rebrand reflects a shift from a crypto-focused platform to a broader multi-asset financial services brand, with licensing and institutional business expansion underway.
A long list of companies and founders now tied to AI can trace part of their edge back to the last crypto cycle. In PANews’ account, the connection is not that mining rigs somehow became AI servers. The real handoff happened through three assets crypto had already accumulated before AI demand exploded: access to power, land and grid permits; engineers and operators trained in distributed systems and global internet products; and capital built during the last bull market. The piece starts with Crusoe, once known for using stranded natural gas at oil fields to mine Bitcoin and now involved in OpenAI’s Stargate buildout in Abilene, Texas. It then moves through mining companies signing multibillion-dollar AI and high-performance computing deals, former crypto builders launching AI infrastructure businesses such as OpenRouter and Fal.ai, and crypto fortunes backing GPU fleets, model companies and decentralized training experiments. Examples in the article range from Jed McCaleb’s Voltage Park to FTX-era investments in Anthropic and Anysphere, and from Paradigm-backed Nous Research to OpenAI’s own early internal discussion of a token-based funding structure. The article’s central point is narrow but clear: crypto did not simply turn into AI. It transferred resources from one cycle into the next industry that needed them more urgently.
Bitdeer said its Bitcoin treasury has fallen to zero after selling 1,132.9 BTC in one week. The report also says corporate Bitcoin exposure dropped 37% in three months, while more listed miners push revenue and investment toward AI and data centers.
Bitdeer said its proprietary BTC holdings fell to zero as of Feb. 20, and all 189.8 BTC mined during the week were sold. The company is also raising capital through notes and share issuance, with funds tied to mining chips and AI compute centers.
Crypto did not suddenly become AI. What changed is where the assets from the last cycle ended up. In Abilene, Texas, the first large site under OpenAI’s Stargate plan is being operated by Oracle and developed by Crusoe, a company that started in bitcoin mining and later sold more than 425 modular bitcoin data centers to NYDIG to focus on AI. That arc captures a broader shift now visible across the industry. Mining companies are not repurposing ASIC rigs into AI servers. Their real value lies in grid-connected sites, power access, land, substations and permits that took years to assemble. As bitcoin mining economics weakened and AI tenants signed long, expensive contracts, companies such as CoreWeave, TeraWulf, Cipher Mining, Core Scientific, Hut 8 and IREN moved data center capacity toward AI and high-performance computing. The same pattern appears in people and capital. OpenSea co-founder Alex Atallah built OpenRouter after leaving the NFT marketplace. Former Coinbase machine learning engineer Burkay Gur built Fal.ai into a generative media inference company. Crypto fortunes and venture networks also flowed into AI through Jed McCaleb’s Voltage Park, FTX-era bets on Anthropic and Anysphere, and Paradigm-backed Nous Research. Across these examples, the through line is not ideology. It is the transfer of infrastructure, operators and money from crypto into AI.
Bitdeer founder Jihan Wu has clarified that his current Bitcoin holdings are zero, but hinted at potential changes in strategy. The statement contrasts with MicroStrategy's ongoing accumulation.
Chat.Chat is positioning itself as an all-in-one platform for encrypted messaging, multi-currency wallets and native access to decentralized apps, with support for BCH and BTC and more assets planned.
