MARA Cuts 15% of Workforce After Selling $1.1 Billion in Bitcoin to Pivot Business Focus

Botanix, a Bitcoin-based layer-2 blockchain, aims to support DeFi applications by incorporating Ethereum's design elements. The network is decentralized, with a federation of node operators to prevent central control. Projects like Dolomite and GMX are debuting on Botanix, offering decentralized exchange and lending services.

MARA Holdings currently holds 49,940 Bitcoin worth close to $5.3 billion, with 15,534 BTC pledged as collateral. The company won 211 blocks in June but faced a 25% decline due to weather-related issues. MARA aims to increase its hash rate to 75 exahash by year-end.

The hashrate, a measure of computational power on a proof-of-work blockchain, is crucial for mining and transaction processing. Analysts noted a decline possibly due to seasonal factors, with some operators in Texas maintaining over 80 EH/s. Bitcoin mining profitability has been on the rise, with daily block reward revenue increasing by 7% last month.

The Blockchain Group has raised approximately 11 million euros through a capital increase and convertible bonds, with a focus on increasing its bitcoin holdings and delivering long-term value to investors. The company's strategic move includes investments from asset manager TOBAM and bitcoin pioneer Adam Back.

Bitget Wallet is launching a payment card in partnership with Mastercard and Immersve, allowing users to spend crypto globally with no fees. The card will debut in the UK and EU, then expand to other regions, leveraging Mastercard's tools and Immersve's infrastructure.

IREN, formerly Iris Energy, has seen significant growth in Bitcoin hashrate, reaching 50 EH/s with a 750MW site in Texas. The company is focusing on a 50MW AI data center in Childress for future expansion. Co-founder Daniel Roberts highlighted plans to scale AI infrastructure in growing compute markets.

Swyftx is acquiring Caleb & Brown, the largest crypto deal in Australia and New Zealand. The acquisition will expand Swyftx's U.S. reach, targeting high-net-worth investors.

President Donald Trump publicly criticized Elon Musk, suggesting DOGE investigate Musk's companies for benefiting from government subsidies. Trump's post on Truth Social accused Musk of receiving record subsidies, hinting at potential consequences without formal action announced yet.

Ubisoft's latest blockchain experiment, Captain Laserhawk: The G.A.M.E., introduces AI-controlled NFT characters that vote, govern, and evolve based on player choices. The game, developed with LibertAI, merges decentralized storytelling and AI-driven decision-making in a dystopian universe inspired by Ubisoft's IPs.

Hut 8, a Bitcoin mining firm linked to the Trump family, has expanded to Dubai, raising $220 million for Bitcoin and mining infrastructure. The company owns American Bitcoin, co-founded by Eric Trump, with plans to go public via a merger with Gryphon Digital Mining.