Bolivia is considering a regulatory framework that would recognize Tether's USDT as a payment currency, according to Economy and Public Finance Minister Jose Gabriel Espinoza, as the country faces a prolonged US dollar shortage. The proposal follows Bolivia's lifting of its crypto ban in 2024 and comes as the government abandoned its long-standing currency peg earlier this year, creating demand for dollar-denominated alternatives. Meanwhile, Bitcoin miners pivoting to AI infrastructure face investor scrutiny over insider stock sales, with the TEM AI Infrastructure Growth Index falling 16% over the past month, while CleanSpark signed a 20-year data center lease potentially worth $6.6 billion and Bitmine generated $45.7 million from Ethereum staking last quarter. The developments underscore how economic instability is driving stablecoin adoption in emerging markets while crypto miners seek new revenue streams amid post-halving pressure.
Bolivia Proposes USDT Recognition Framework Amid Dollar Shortage
Bolivia is considering a regulatory framework that would recognize Tether's USDT as a payment currency, marking another step in the country's push to integrate digital assets into its financial system. Economy and Public Finance Minister Jose Gabriel Espinoza said the proposal would allow USDT to circulate alongside the boliviano and the US dollar for payments and savings. The framework remains under review and would include anti-money laundering safeguards, as Bolivia is still on the Financial Action Task Force's gray list.
The initiative follows the lifting of the country's crypto ban in 2024 and the new administration's pledge to expand access to digital asset services. The proposal comes as Bolivia struggles with a prolonged shortage of US dollars after pressure on foreign exchange reserves forced the government to abandon its long-standing currency peg earlier this year. The resulting gap between the official and parallel exchange rates has increased demand for dollar-denominated alternatives such as USDT, which has become an increasingly popular payment tool in the country.
Bitcoin Miners Face Investor Scrutiny Over Insider Stock Sales
Investors are increasingly scrutinizing insider stock sales at Bitcoin miners pursuing AI infrastructure strategies as enthusiasm for the sector cools and governance concerns take center stage. According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms and Core Scientific have disclosed stock sales in recent months, many of them made under prearranged Rule 10b5-1 trading plans.
Strategic investors have also trimmed their holdings. Tether reduced its stake in Bitdeer following the company's AI-driven rally. The shift comes as the TEM AI Infrastructure Growth Index has fallen 16% over the past month. Blocksbridge said investors are increasingly looking beyond the AI growth story to assess whether the benefits of miners' strategic pivots will flow to public shareholders.
CleanSpark Signs $6.6 Billion Data Center Lease in Georgia
CleanSpark shares rallied as much as 22% after the Bitcoin miner signed a 20-year data center lease in Georgia that could generate up to $6.6 billion in contracted revenue, underscoring its push into AI and high-performance computing infrastructure. The agreement covers a 175-megawatt data center at the company's Sandersville, Georgia, campus and was signed with an undisclosed investment-grade global technology company.
The tenant will install its computing equipment at the site, with phased deliveries expected to begin in the fourth quarter of 2027. If the customer exercises two five-year extension options, the contract's total value could reach $11.6 billion. The deal reflects a broader trend among Bitcoin miners seeking new revenue streams as post-halving mining economics remain under pressure. While many publicly traded miners have reduced their Bitcoin holdings to shore up liquidity, CleanSpark has largely remained a net accumulator despite selling some BTC earlier this year to fund operations.
Bitmine Reports $45.7 Million Ethereum Staking Revenue
Bitmine Immersion Technologies generated $45.7 million in revenue from Ethereum staking and validation last quarter, demonstrating the strength of its business even as ETH prices remained under pressure. Ethereum staking accounted for 98% of the company's revenue for the three months ended May 31, compared with $624,000 from self-mining Bitcoin and $168,000 from consulting services.
The results follow the March launch of MAVAN, Bitmine's institutional Ethereum staking platform, which was built on the acquisition of validator operator Pier Two Holdings. The company said it has staked roughly 85% of its Ether holdings, or about 4.9 million ETH. Chairman Tom Lee said Bitmine now stakes more Ether than any other entity and projects annualized staking rewards of $284 million once its holdings of the token are fully staked through MAVAN and its partners.
FAQ
Why is Bolivia considering USDT recognition?
Bolivia is considering recognizing Tether's USDT as a payment currency due to a prolonged US dollar shortage. After the government abandoned its long-standing currency peg earlier this year, the gap between official and parallel exchange rates increased demand for dollar-denominated alternatives such as USDT, which has become an increasingly popular payment tool in the country.
What concerns are investors raising about Bitcoin miners pivoting to AI?
Investors are scrutinizing insider stock sales at Bitcoin miners pursuing AI infrastructure strategies. According to Blocksbridge Consulting, executives at TeraWulf, Cipher Digital, Riot Platforms and Core Scientific have disclosed stock sales in recent months, and strategic investors like Tether have trimmed their holdings. Investors are looking beyond the AI growth story to assess whether the benefits of miners' strategic pivots will flow to public shareholders.
How much revenue did Bitmine generate from Ethereum staking?
Bitmine Immersion Technologies generated $45.7 million in revenue from Ethereum staking and validation for the three months ended May 31. Ethereum staking accounted for 98% of the company's revenue, compared with $624,000 from self-mining Bitcoin and $168,000 from consulting services. The company has staked roughly 85% of its Ether holdings, or about 4.9 million ETH.
