Cryptocurrency

Greenidge Generation Holdings Inc. (Nasdaq: GREE) sold its Columbus, Mississippi bitcoin mining facility to US Digital Mining Mississippi LLC on September 16, 2025, for $3.9 million. The sale reflects Greenidge’s strategic shift amid volatile cryptocurrency market conditions and declining bitcoin mining profitability. Analysts suggest it may signal industry consolidation. The facility’s infrastructure and power capacity are important factors for the new owner. Greenidge aims to streamline operations, potentially focusing on power generation and other datacenter applications.

Democratic lawmakers are scrutinizing David Sacks’ role as a special advisor to President Trump on crypto and AI, questioning his compliance with Special Government Employee (SGE) regulations, particularly the 130-day time limit. Senators Warren and Stansbury demand transparency regarding Sacks’s time in office, alleging potential conflicts of interest as the administration implements new crypto legislation. Critics worry Sacks’s private sector activities could unduly influence policy decisions, despite his disclosure of selling over $200 million in digital assets before assuming his role. The inquiry reflects broader concerns about ethical standards and potential regulatory capture.

Gemini Space Station shares surged up to 40% in its Nasdaq debut after raising $425 million in its IPO, exceeding expectations and valuing the company at $3.3 billion. The IPO signals growing confidence in the digital asset industry. Founded in 2014 by the Winklevoss brothers, Gemini has become a major crypto exchange, holding over $21 billion in assets. Despite reporting net losses, Gemini offers diverse services and the Winklevoss brothers remain bullish on Bitcoin, predicting it could reach $1 million and advocating for strategic regulation.

Tether is deepening its commitment to the U.S. market by appointing a CEO for U.S. operations, Bo Hines, and launching USAT, a stablecoin for U.S. institutions. USAT, operating under the GENIUS Act framework, will utilize Tether’s Hadron platform and involve Anchorage Digital as issuer and Cantor Fitzgerald as a reserve custodian. While USDT remains dominant globally, USAT aims to compete directly with competitors like USDC within the U.S. This strategic move seeks to address regulatory concerns and attract risk-averse entities, integrating digital assets into traditional finance.

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has priced its IPO at $28 per share, valuing the company at $3.3 billion. The IPO, limited to $425 million, witnessed strong demand exceeding the initial price range. Up to 30% of shares are allocated for retail investors via platforms like Robinhood. Nasdaq’s $50 million investment provides a confidence boost. Gemini, founded in 2014, manages over $21 billion in assets and offers diverse services, including its own stablecoin and a crypto-backed credit card. The IPO’s success will gauge market appetite for crypto-related offerings amid potential profitability challenges.

Bitcoin rose to $111,000 amidst falling stocks and gold’s record high. Cryptocurrency is benefiting from expectations of future rate cuts and geopolitical uncertainty, though Ethereum’s rise has impacted Bitcoin’s dominance. Analysts believe a dovish Fed pivot could help Bitcoin break through resistance. Ether remained stable, while Solana’s token (SOL) outperformed Bitcoin and Ether recently. Crypto-related stocks showed mixed performance.

Eric Trump predicted Bitcoin would reach $1 million at the Bitcoin Asia 2025 conference in Hong Kong, marking the start of an Asian crypto push by the Trump sons. The brothers are expanding their ventures, including American Bitcoin and World Liberty Financial, into Asia, with appearances planned in Japan, South Korea, and Singapore. President Trump’s pro-crypto stance, reflected in policy changes and appointments, faces scrutiny amid potential conflicts of interest and ethical concerns. Some Hong Kong officials withdrew from the event, highlighting political sensitivities.

Thumzup Media (TZUP) updated its public offering to include pre-funded warrants for common stock. The funds will target cryptocurrencies, mining equipment, working capital, and general corporate purposes. The offering’s completion is subject to market conditions. Thumzup’s platform pays users for sharing branded content and is developing an AI Lifestyle Agent Marketplace. The announcement contains forward-looking statements subject to risks. Investors should carefully review SEC filings and the prospectus before investing.

Consensus Mining & Seigniorage Corp (CMSG) reported a Q2 2025 net income of $6.7M, a significant turnaround from Q2 2024’s $1.7M loss. Mining revenue reached $1.1M, boosted by Bitcoin, Litecoin and Dogecoin. CMSG’s crypto holdings totaled $36.9M. The company expanded mining capacity with Antminer L9 units, improving efficiency. CMSG maintains strong liquidity with $60.8M in cash. A shareholder call is scheduled for August 14, 2025. Book value per share increased to $43.59.

Volcon (VLCN) now holds 3,183.37 BTC, acquired for approximately $375 million at an average of $117,697 per Bitcoin. The company is actively managing its position by selling short-term put contracts to potentially acquire more Bitcoin at lower prices. Volcon’s board has also authorized a $100 million stock repurchase program. The company believes this treasury strategy reflects its confidence in Bitcoin as a long-term store of value. Volcon aims to offer investors efficient exposure to Bitcoin through the public equity market.