Crypto Biz: Stablecoins Fill the Gap as Dollar Access Shrinks

Bolivia is moving toward recognizing USDT as the country grapples with a shortage of US dollars, while Bitcoin miners’ expansion into AI is drawing renewed scrutiny from investors.

Stablecoins have long been promoted as a faster method for transferring dollars across borders. In Bolivia, however, they are increasingly being used to access US dollars in the first place. The country’s recent proposal to recognize Tether’s USDt (USDT) for payments highlights how economic instability is accelerating stablecoin adoption across many emerging markets.

Elsewhere, Bitcoin miners are finding that expanding into AI infrastructure could open new revenue opportunities, but the shift has not protected them from growing investor scrutiny.

Bolivia Considers Recognizing USDT as Dollar Shortage Persists#

Bolivia is considering a regulatory framework that would formally recognize Tether’s USDT as a payment currency, marking another step in the country’s broader effort to integrate digital assets into its financial system.

Economy and Public Finance Minister Jose Gabriel Espinoza said the proposal would allow USDT to be used alongside the boliviano and the US dollar for payments and savings. The framework is still under review and includes anti-money laundering safeguards, as Bolivia remains on the Financial Action Task Force’s gray list. The initiative follows the removal of the country’s crypto ban in 2024 and the new administration’s commitment to broaden access to digital asset services.

The proposal comes as Bolivia continues to face a prolonged shortage of US dollars after mounting pressure on its foreign exchange reserves forced the government to abandon its long-standing currency peg earlier this year. The widening gap between the official and parallel exchange rates has fueled demand for dollar-denominated alternatives like USDT, which has become an increasingly popular payment option across the country.

Insider Stock Sales Cast Doubt on Bitcoin Miners’ AI Expansion#

Investors are paying closer attention to insider stock sales at Bitcoin mining companies pursuing AI infrastructure strategies as enthusiasm for the sector fades and corporate governance concerns move into sharper focus.

According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms, and Core Scientific have disclosed stock sales in recent months, with many transactions carried out under prearranged Rule 10b5-1 trading plans. Strategic investors, including Tether, have also reduced their holdings, trimming their stake in Bitdeer after the company’s AI-driven rally. The trend comes as the TEM AI Infrastructure Growth Index has declined 16% over the past month.

Blocksbridge said investors are increasingly looking past the AI growth narrative to evaluate whether the gains from Bitcoin miners’ strategic shift into AI infrastructure will ultimately benefit public shareholders.

CleanSpark Shares Surge on $6.6B Data Center Lease as AI Expansion Accelerates#

CleanSpark shares surged as much as 22% after the Bitcoin miner signed a 20-year data center lease in Georgia, a deal that could generate up to $6.6 billion in contracted revenue and highlights the company’s expansion into AI and high-performance computing infrastructure.

The agreement covers a 175-megawatt data center at CleanSpark’s Sandersville, Georgia, campus and was signed with an undisclosed investment-grade global technology company. The customer will install its own computing equipment at the facility, with phased deployments expected to begin in the fourth quarter of 2027. If both five-year extension options are exercised, the total value of the contract could increase to as much as $11.6 billion.

The agreement reflects a broader trend of Bitcoin miners seeking additional revenue sources as mining economics remain under pressure following the halving. While many publicly traded miners have reduced their Bitcoin holdings to strengthen liquidity, CleanSpark has largely continued as a net accumulator despite selling a portion of its BTC earlier this year to support operations.

Bitmine Earns $46 Million From Ethereum Staking in Latest Quarter#

Bitmine Immersion Technologies generated $45.7 million in revenue from Ethereum staking and validation during the last quarter, highlighting the resilience of its business even as Ether prices remained under pressure.

Ethereum staking contributed 98% of Bitmine’s revenue for the three months ended May 31, generating $45.7 million, while self-mined Bitcoin brought in $624,000 and consulting services added $168,000. The results followed the March launch of MAVAN, the company’s institutional Ethereum staking platform, which was developed after acquiring validator operator Pier Two Holdings. Bitmine also said it has staked around 85% of its Ether holdings, representing approximately 4.9 million ETH.

Chairman Tom Lee said Bitmine now stakes more Ether than any other organization and expects to generate annualized staking rewards of about $284 million once its entire Ether portfolio is fully staked through MAVAN and its partner network.

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