TeraWulf's Q1 2026 Net Loss Surged to Over $427 Million, With AI Compute Revenue Beating Bitcoin Mining

Chinese authorities are intensifying efforts to curb crypto trading due to a surge in speculative interest. The People’s Bank of China stated that virtual currencies, including stablecoins, are not legal tender and engaging in related activities is illegal. Despite crackdowns, millions of Chinese users access offshore trading services.

Strategy has formed a $1.44 billion USD reserve to ensure continuous dividends, potentially selling Bitcoin if necessary. The company aims to maintain at least 12 months' worth of dividends in the reserve, with plans to expand to cover over 24 months' worth.

Bitcoin experienced a temporary pause in the selloff due to whale accumulation and ETF inflows, but a Sunday night selloff caused renewed market worries. Large BTC holders shifted to net accumulation, with the biggest whales showing positive accumulation for the first time since August.

Michael Saylor, CEO of Bitcoin treasury company Strategy, has announced the creation of a $1.44 billion USD Reserve and an increase in its Bitcoin reserve holdings to a total of 650,000 BTC.

Sony Bank is planning to introduce a stablecoin pegged to the U.S. dollar by fiscal 2026, allowing customers to use it for purchases within the Sony ecosystem. The stablecoin is expected to offer a new payment method for games and anime without credit card fees.

Europol, with the help of German and Swiss law enforcement, shut down Cryptomixer, a service that laundered over $1.4 billion in Bitcoin since 2016. The operation seized $27 million in BTC and 12 terabytes of data in Zurich.

Bitcoin's recent 5% drop has caused Ethereum, XRP, and other altcoins to follow suit, with total crypto market liquidations skyrocketing to $637 million. Analysts have identified Strategy CEO Phong Le's comments about the circumstances under which the DAT firm would consider selling Bitcoin, along with Arthur Hayes' comments about Tether, as contributing factors to the market's bearish sentiment.

Japan is planning to implement a flat 20% tax on cryptocurrency gains, aligning them with equities and investment trusts. This significant policy update reflects regulators' view that crypto has become a mainstream investment class, with the proposal expected to be finalized in the 2026 tax reform package.

BitMine Immersion Technologies, CleanSpark, and Riot Platforms have seen positive stock performance, with BitMine's shares up 4.47% today and over 27% in the last 5 days. CleanSpark and Riot Platforms have also experienced significant gains, despite some monthly losses.

Bitcoin has seen a 7.4% increase in the last week, with predictors leaning bullish on a potential pump to $100,000. Myriad's market focuses on Bitcoin's next move, with odds shifting in favor of a December rate cut.