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Posted August 21, 2026 at 10:30 am
As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the “Crypto Currents” weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.
President Donald Trump asked Congress to pass the Clarity Act, arguing the legislation is a top priority for the industry and is critical to keeping the U.S.’s edge in emerging technologies, Courtney Subramanian and Tyler Kendall of Bloomberg reported. The comments came during a meeting with crypto executives at the White House on Wednesday. “We need Congress to take the next step by passing the Clarity Act, a fair version of the Clarity Act,” Trump said. “It’s a very, very powerful structured legislation which will keep us ahead of China, keep us ahead of everyone else.” Companies with executives at the event include Coinbase (COIN), Gemini Space Station (GEMI), Payward, and Robinhood (HOOD).
Bitdeer AI (BTDR) announced Wednesday further progress in the build-out of its AI Cloud infrastructure, including the deployment of NVIDIA GB300 NVL72-based capacity out of a data center in Malaysia. Approximately 50% of A102’s capacity has been recently contracted ahead of energization. Bitdeer AI has entered into a 5-year long term offtake commitment with total expected revenue of approximately $400M with a customer of high credit quality. As a general matter, Bitdeer AI seeks to structure its AI cloud contracts so that customer prepayments are expected to cover more than 50% of the associated capital expenditure. Bitdeer AI is targeting 350MW of AI Cloud data center capacity to be delivered by 1Q28.
“Facility A102 is one of the first of several AI cloud sites we expect to contract and bring online, and the terms we secured here are a good indication of the discipline we apply to deploying capital,” said Michael Potter, CFO. “Roughly half of A102 is contracted ahead of energization, on a long term offtake commitment basis, with a customer of high credit quality. Our active pipeline for AI cloud capacity now exceeds $2B, or approximately 24.5MW. Together with our recently announced lease at our Tydal, Norway site, this reflects our ability to bring AI capacity online and contract it ahead of energization.”
Following the news, H.C. Wainwright said Bitdeer’s Malaysia AI Cloud contract validates demand for its rapidly scaling platform, with roughly $400M of contracted revenue over five years, robust demand across a more than $2B pipeline, and customer prepayments potentially reducing the capital burden of its planned AI infrastructure expansion.
Barclays initiated coverage of Bitdeer. The firm cited the company’s growing exposure to high-performance compute and its three gigawatt of powered capacity for the rating. Bitdeer’s focus shift to provision of AI infrastructure is an effective use of its existing and future powered land assets, which have become increasingly in-demand and valuable following the expansion of AI labs and hyperscalers, the analyst said.
Hive Digital (HIVE), through its wholly owned subsidiary BUZZ High Performance Computing, announced Monday that it has signed a five-year GPU cloud services agreement with an investment-grade enterprise customer. The agreement represents approximately $350M in total contract value over five years and adds approximately $70M in annualized revenue. This brings BUZZ HPC’s total annualized revenue to approximately $180M, comprised of approximately $35M in active, realized ARR and approximately $145M in contracted ARR expected to come online through Q4. Under the agreement, BUZZ HPC will deliver a dedicated AI infrastructure cluster consisting of 2,016 Nvidia Blackwell Ultra GPUs in Nvidia GB300 NVL72 rack-scale systems, interconnected with Nvidia Quantum-X800 InfiniBand networking and supported by VAST Data’s high-performance storage platform.
Aydin Kilic, CEO, said, “We are pleased to announce this agreement as we accelerate towards our year-end target of $200M of ARR for our GPU cloud business. The five-year term, expected stable cash flows from an investment-grade enterprise customer, and upfront deposit of approximately 10% of total contract value supports an attractive economic and return profile for this deployment. Using proceeds from our June 2026 0% convertible bond, we are delivering on our promises to the market to bring this second, long-term large GPU cluster deal forward. We are also using debt financing to lever the purchase of the GPUs to provide a very strong internal rate of return.”
H.C. Wainwright reiterated the price target after the company announced the new agreement and reaffirmed its $200M annual recurring revenue target for the AI business by the end of 2026 on its fiscal Q1 earnings call. The new deal adds $70M in AI cloud ARR, bringing Hive’s total contracted ARR from its AI subsidiary, Buzz, to $180M, the analyst said. H.C. Wainwright sees another potentially meaningful near-term catalyst coming from the colocation business. It believes Hive could execute a first colocation agreement site in Boden, Sweden with an investment-grade Swedish tenant as soon as next month. The firm is confident the company can reach its ARR target by year-end.
Rosenblatt raised the firm’s price target on Hive. The company’s fiscal Q1 report was positive despite coming in below consensus, the analyst said. The firm added Hive’s mining margins improved 500 basis points in a tough environment due to firmware optimization while high performance compete revenue beat estimates for the first time in a year.
Super League Enterprise (SLE) and Metaplanet (MTPLF) announced Tuesday a definitive agreement pursuant to which Metaplanet, through its wholly owned U.S. subsidiary, Metaplanet Holdings, will contribute 2,100 bitcoin, valued at approximately $132.1M, together with $2.5M in cash, to Super League in exchange for 44,859,400 shares of common stock at a price of $3.00 per share, shares of preferred stock and warrants in Super League. Upon closing the proposed transaction, Super League will be renamed “Superplanet” and become a consolidated subsidiary of Metaplanet, with Metaplanet holding approximately 95.7% of Superplanet’s issued and outstanding shares of common stock, creating a bitcoin treasury platform spanning the Nasdaq Capital Market and the Tokyo Stock Exchange.
Simon Gerovich, CEO of Metaplanet, commented, “We’ve built one of the world’s largest bitcoin treasuries from Japan. Superplanet is how we build in America, the deepest capital market in the world. We are putting our own Bitcoin in, locking up our shares, and backing Super League with our balance sheet and expertise. It is one consolidated Bitcoin position, compounding through two listed platforms in Japan and in the U.S.”
On Wednesday, Antalpha (ANTA) reported second quarter earnings per share of 3c on a revenue of $17M, which compared to a loss per share of (47c) on revenue of $12.2M for the same period last year. The company also guided to Q3 revenue of $10M-$12M. The company’s guidance assumes solid demand for crypto-collateralized financing, with market conditions remaining broadly consistent with recent trends.
“During the second quarter, we executed across our financing, technology and risk management businesses,” said Paul Liang, CFO. “As financing activity moderated during the quarter, we were selective in deploying capital by prioritizing portfolio quality and long-term client relationships while improving funding efficiency. Antalpha Prime, our flagship financing platform and primary revenue and earnings contributor, delivered operating profitability while maintaining our record of zero principal loss since inception, demonstrating the strength of our underwriting discipline and risk management framework.”
B. Riley lowered the firm’s price target on Antalpha. The firm views the company’s Q2 report as mixed. Antalpha’s earnings power is “cyclically depressed at this current time,” the analyst said.
As of time of writing, bitcoin rose roughly 22% this week to $76,429 in U.S. dollars, according to CoinDesk.
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Originally Posted 08/21/2026
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