Ford

21 days agoNews Editor

Ford and JPMorgan back Michigan supply-chain push with 10-year funding target

Ford, JPMorgan and the state of Michigan launched the Michigan Industrial Innovation and Transformation platform, or LIFT, on Sept. 29, setting out a long-term funding plan aimed at strengthening parts of the U.S. manufacturing supply chain. Under the program, Ford and JPMorgan each set a target to provide a total of $1 billion over the next decade, which works out to roughly $100 million a year from each company. The funding is intended for supply-chain development tied to critical minerals, robotics, semiconductors and battery storage. One near-term focus is the supply challenge around critical minerals. Ford CEO Jim Farley specifically cited magnets and rare earths. The announcement did not quantify any impact on earnings for either company and did not name specific suppliers. Market performance in related areas has been mixed: as of Oct. 8, magnet maker USA Rare Earth was down 29% over the past month, while the VanEck Rare Earth and Strategic Metals ETF had fallen 21% over the same period, according to BeInCrypto.

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Bitcoin mining

2 months agoNews Editor

Hyperscale Shuts Michigan Bitcoin Mine for AI Deal Worth More Than $1.2 Billion

Hyperscale Data has halted Bitcoin mining at its Michigan data center to free up power and infrastructure for an artificial intelligence customer, according to a company announcement released Wednesday. The agreement covers 20 megawatts for an unnamed California-based provider of AI cloud computing services and carries an initial term of 10 years. If the customer exercises both five-year extension options, the contract could generate more than $1.2 billion over 20 years. The company said the customer also has an option to add 32 megawatts within the first two years. If that expansion is taken and both extensions are exercised, total contract revenue could exceed $3 billion. CEO William Horne said the immediate shutdown of mining operations allows the company to direct the facility’s power, infrastructure, and other resources toward preparing the site for the customer. Hyperscale plans to sell its mining servers and said it expects gains from those sales. It did not disclose when AI operations will begin, and said the shutdown applies to the Michigan site. The move comes as more miners explore AI-related conversions. Decrypt noted that VanEck’s Matthew Sigel argued in March that miners could benefit by repurposing infrastructure for AI demand, while IREN’s results last month showed both the revenue potential and the cost of that shift, including a $450.4 million asset write-down tied mostly to retired mining equipment.

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Kalshi

2 months agoNews Editor

Michigan judge issues preliminary injunction against Kalshi over sports betting contracts

A judge in Ingham County, Michigan, has issued a preliminary injunction against prediction market platform Kalshi, ordering it to stop offering sports-betting-related contracts to state residents, according to Decrypt. Judge Rosemarie Aquilina said the business amounted to sports betting “disguised as an investment opportunity.” Under the order, Kalshi must block in-state users through a third-party geolocation service approved by Michigan’s betting regulator or face a $500,000 daily fine. The injunction also bars the company from allowing Michigan residents to open accounts, make deposits, place ads, or use products that resemble sports betting until a final ruling is reached.

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Hyperscale Data

2 months agoNews Editor

Hyperscale Data Converts Michigan Bitcoin Mining Facility to AI Data Center, Eyes $1.2B+ Revenue

Hyperscale Data announced plans to convert its Michigan bitcoin mining facility into an AI data center. The signed agreement could generate over $1.2 billion in revenue, with a potential extension pushing it past $3 billion. Company shares hit an all-time low after the news, according to The Block.

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Coinbase

3 months agoNews Editor

Michigan Federal Judge Rejects Coinbase Bid to Block State Action on Sports Contracts

A federal judge in Michigan rejected Coinbase's request for a preliminary injunction that would have blocked state enforcement actions against sports event contracts. Judge Shalina Kumar of the U.S. District Court for the Eastern District of Michigan ruled Thursday that Coinbase failed to show its claims are likely to succeed on the merits. The ruling centers on whether federal law preempts Michigan's jurisdiction over prediction-market products. Coinbase sued Michigan in December 2025, arguing that prediction markets fall under the exclusive jurisdiction of the Commodity Futures Trading Commission under the Commodity Exchange Act, not state regulators. The exchange sought to provide access to event contracts issued by Kalshi to its customers, including those in Michigan. According to the complaint, Coinbase claims Michigan law constitutes conflict preemption, arguing the state's statutes frustrate Congress's goal of establishing a unified federal regulatory framework. The judge's decision clears the way for Michigan to continue enforcement while the underlying case moves forward.

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Bill Huizenga

3 months agoNews Editor

Pro-Crypto Rep. Bill Huizenga Wins Michigan GOP Primary

Pro-crypto U.S. Representative Bill Huizenga has won the Republican primary in Michigan, according to Associated Press vote counts reported by The Block. Tech Influencer Watch reported that Huizenga received nearly $512,000 in donations from an affiliate of Fairshake. a16z, Winklevoss Capital, and Coinbase also backed his campaign. Huizenga now heads to the general election as the Republican nominee from Michigan.

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Hyperscale Data

4 months agoNews Editor

Hyperscale Data sells about 100 BTC to speed up Michigan AI campus buildout

Hyperscale Data said it has completed its first sale of about 100 Bitcoin and secured a Bitcoin-backed credit facility to accelerate construction of its AI data center campus in Michigan. The company said it still holds 1,006 BTC, valued at about $65 million. According to the announcement, the transaction is part of a broader funding approach tied to its Bitcoin treasury. Hyperscale Data said it is using its Bitcoin reserves to access lower-cost capital, cut reliance on equity financing, and avoid shareholder dilution. The company also disclosed operating details for the project. The initial phase of the AI campus is set to deploy 20 MW. Contracts tied to the site are expected to generate more than $1.2 billion in revenue during the initial term, with customers given an option to expand by another 32 MW. The item was cited by Techub News, with CryptoBriefing named as the source in the digest.

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Kalshi

4 months agoNews Editor 01

Michigan Court Temporarily Blocks Kalshi Sports Event Contracts Until July 13

A Michigan judge issued a 14-day temporary restraining order blocking Kalshi from offering sports event contracts to residents and warned of $120,000 daily fines for noncompliance.

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