💥Trump’s Bitcoin Play: Strategic Reserve or Market Shock?

🏆Release W10'25 | 886,720 | Trump’s Crypto Summit; U.S. BTC Reserves; ETF Whiplash; Hashprice Jump; Bitcoin’s Biggest Political Play Yet?

👀 TLDR 🪟

• Bitcoin's hashprice rises to $53/PH/s, easing miner pressure; U.S. Bitcoin ETFs saw $94.34M inflow on Feb. 28, yet ending February 2025 bloody with $3.65B outflows.

• U.S. releases seized Chinese miners; Trump praises TSMC’s $100B investment; 14 miners' market cap drops 22%.

• MARA mines 706 BTC; Hut 8 reports $162M revenue; Cathedra sells mine for $5.25M; Bitdeer buys 100 BTC; CoreWeave files for IPO; Argo seeks $40M; Riot mines 470 BTC; CleanSpark’s Q1: $162.3M revenue, plans 50-60 EH/s

• Texas approves Bitcoin reserves; New Hampshire advances BTC bill; IMF blocks El Salvador’s purchases, Bukele buys more; South Korea considers BTC ETFs; China may accumulate Bitcoin; AUSTRAC tightens regulations; Belarus explores Bitcoin mining; Bhutan’s $1.1B Bitcoin funds salaries; Brazil’s Méliuz allocates 10% to BTC; Salinas invests 70% of $5.8B in Bitcoin; Russia plans crypto trading for the wealthy; Russia rejects Bitcoin for its wealth fund.

• White House supports CRA against DeFi rule; Bitwise introduces BTC & Gold ETP; Emirates NBD enters crypto trading; CFTC and SEC coordinate on regulations; Coinbase targets tokenized securities; SEC drops cases against Kraken and MetaMask; Trump’s World Liberty holds $23.61M in WBTC; US lawmakers establish Crypto Caucus.

• Metaplanet buys 497 BTC, stock up 19%; Mt. Gox moves 11,834 BTC; Schiff calls Bitcoin digital gold; BlackRock’s ETF sees $38.9M inflow; MetaMask adds BTC, Solana, and payment cards; Salinas boosts holdings to 70%; Saylor predicts $200T market cap; Strategy saw 8 drops of 30%+ with Bitcoin; Winklevoss says only Bitcoin is hard money; U.S. to buy more Bitcoin, says Treasury.

• How will Trump’s first Crypto Summit on March 7 impact the future of digital assets?

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✨ Hash & Cash Index 🚀

For this week’s Hash & Cash Index, BTC price jumps to 88,638, an 8.20% increase from last week, signaling market growth. Market cap stays as above the $1T, settling at $ 1.647 (8.71% WoW). Hashprice sit at $51.27 USD/PH/day, a 10.40% increase. The global hashrate rose 0.55%, reaching 800.42 EH/s. The current epoch’s difficulty remains at 110.57 T this week. We’re at block 1699 of 2016 for this epoch. Rewards decrease to 3.16 BTC per block. Fees in blocks settles to 1.14% showing a decrease of 1.14%. The average block time has increased to 9 minutes and 53 seconds. Source: Hashrate Index, Mempool, ONMINE.

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🪄 Pool Power Tools 🎱

This week’s Pool reward index settles to 99.80%, an increase from last week 0.20% with 20 active pools chipping away 1006 blocks. The total miner reward over the last 144 blocks contracted to 455.09 BTC drops 0.15% from last week, the dollar valuation of this rewards rises to $45M (9.08% WoW). Average block fees are equal to 0.0354BTC/block down 11.72% Wow and estimated to be $3,154 per block. Transaction fee per Network transaction equate to 1.65k sats per transaction, costing around $1.46 per transaction on the Bitcoin network over the last 144 block. Source: Mempool, ONMINE

💰 Bitcoin’s hashprice jumps to $53/PH/s, up from $45/PH/s last Thursday, easing pressure on miners.

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🧰 Hard-Ware & Hosting Index ⚙

⭐ U.S. authorities have started releasing some seized Chinese-made miners, with thousands of units freed after being held over trade and security issues.

📦 US Customs mistakenly seized thousands of Bitcoin miners, misclassifying them as radio frequency devices.

🇺🇸 Trump hails TSMC as the “most powerful company” as it invests $100B in U.S. chip manufacturing.

📉 JPMorgan: Market cap of 14 U.S. miners fell 22% in February as Bitcoin dropped.

✅ Stronghold shareholders approved the Bitfarms merger, closing in March 2025.

📄 CoreWeave files for Nasdaq IPO under CRWV with a $10.2B deal to convert Bitcoin mines into AI data centers.

⚡ MARA to energize 2.5 EH/s with 10,000+ S21 Pro miners at its nearly finished 40MW Ohio data center.

MARA mined 706 BTC in February with a 44.14 EH/s realized hashrate, retaining all BTC and growing reserves to 46,374 BTC.

⚡ Hut 8 reported $162M revenue, $331M net income, 1,020 MW managed, 10,171 BTC held (~$905M), a $125M Bitmain deal, and a $150M AI investment.

💰 Cathedra sells 25% of a 60MW North Dakota mine for $5.25M, plans reinvestment.

⛏️ Bitdeer acquired 100 BTC at an average price of $85,877 during the market dip.

🚀 CoreWeave files for IPO, reporting $1.9B AI revenue in 2024 with a 62% margin and a $35B valuation target.

📉 Argo seeks $40M in convertible loans to survive aging mining rigs and cash struggles.

⛏️ Riot mined 470 BTC in February, up 12% YoY but down 11% from January.

📊 CleanSpark's Q1 2025 revenue hit $162.3M, up 120% YoY, with $241.7M net income.

CleanSpark's Q1 2025 total assets grew 41.6% YoY to $2.78B, driven by Bitcoin holdings and mining expansions, while total current liabilities dropped to $96.7M from $187.9M due to loan repayments, long-term liabilities rose to $641.4M from $7.2M due to new convertible debt, stockholders’ equity increased 14.8% YoY to $2.02B, and the debt-to-equity ratio climbed to 0.32 from 0.08, reflecting a strategic increase in leverage to fund growth.

CleanSpark aims to reach 50 EH/s by mid-2025, with potential expansion to 60 EH/s.

📈 Bitcoin mining stocks surge as BTC rebounds to $95K, fueled by Trump’s crypto reserves plan.

Bitcoin mining stocks surge, led by Bitdeer (+13.65%), Hut 8 (+12.47%), and Bitfarms (+12.07%), while CleanSpark (+11.76%), Cipher Mining (+11.52%), Riot Platforms (+10.88%), and Bit Digital (+10.57%) also post strong gains.

💰 10 Public Bitcoin miners spent $4.95B on property, plant, and equipment in 2024, with over $3B going to mining hardware, while also liquidating $100M worth of older-generation miners, mostly in the last quarter.

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🏦 Bitcoin Products 🔍

🇺🇸 New Hampshire's Bitcoin reserve bill passed committee 16-1, moving to a full House vote.

🇸🇻 IMF blocks El Salvador’s public BTC buys in $1.4B deal, but Bukele just bought more, raising holdings to 6,100 BTC.

🇰🇷 South Korea may soon authorize Bitcoin ETFs.

🇨🇳 China is reportedly building a strategic Bitcoin reserve amid its de-dollarization efforts.

🇯🇵 Metaplanet buys 497 BTC for $44M, pushing its stock up 19%.

🇦🇺 AUSTRAC to enforce stricter rules on crypto exchanges by 2026, warning of penalties for non-compliance.

🇧🇾 Belarus is considering mining Bitcoin using excess energy.

🇧🇹 Bhutan’s $1.1B Bitcoin reserves fund public salaries and services, offsetting declining tourism revenue.

🇧🇷 Brazilian fintech Méliuz is investing up to 10% of its cash reserves in Bitcoin, already securing $4.1M worth of BTC!

🇲🇽 Mexican billionaire Ricardo Salinas allocates 70% of his $5.8 billion portfolio to Bitcoin.

🇷🇺 Russia plans controlled crypto trading for wealthy investors under a structured legal framework.

🇷🇺 Russia could create a crypto reserve within 1-3 years, according Bitriver’s deputy CEO.

🇷🇺 Russia has no plans to add Bitcoin to its National Wealth Fund.

🇺🇸 The White House backs the CRA to repeal the Broker DeFi Rule, calling it an unfair crypto crackdown.

🇪🇺 Bitwise launched a Bitcoin & Gold ETP on Europe.

🇦🇪 Emirates NBD launches crypto trading through Liv X app.

🇺🇸 The Treasury Secretary confirms U.S. plans to buy more Bitcoin.

The Bitcoin Treasury Index for this week steady reflecting a stable grip on holdings, with 75 companies increasing their trove to precisely 2,984,011.31 BTC. Government also join the bitcoin standard with 7 countries holding 527,259.0 BTC. The value locked in these treasuries for Companies and Government tells a different story swelling to a robust $268.36B and $47.42B, respectively. A total of 14.210% all Bitcoins are held in corporate treasuries, while government holds 2.511 % of all Bitcoins, reinforcing the sentiment of a consolidating market among institutional & Government participants. Source: NewHedge, ONMINE.

💰 Trump’s World Liberty Financial now holds $23.61M in Wrapped Bitcoin.

🏛️ US lawmakers launch the Congressional Crypto Caucus to drive pro-blockchain policy.

💰 Mt. Gox moved 11,834 BTC ($1B) to an unknown wallet, sparking speculation about repayments as its holdings drop to 36,080 BTC ($3.26B).

🔥 Longtime Bitcoin critic Peter Schiff finally admits that Bitcoin is digital gold!

🏦 BlackRock’s Bitcoin ETF dropped 11% as trading volume hit a 3-month high, with investors pulling over $1B.

🟢 BlackRock ended its Bitcoin ETF outflow streak with a $38.9M inflow, keeping the market in the green!

⚖️ CFTC and SEC collaborate on crypto regulations, reviving joint efforts and seeking public input.

📢 Coinbase eyes US entry for tokenized securities amid regulatory shifts.

👨‍💼 Coinbase CEO Brian Armstrong says a US crypto reserve holding only Bitcoin is "probably the best option."

🚨 US Treasury sanctions 49 BTC and XMR addresses tied to the Nemesis darknet marketplace and its Iranian operator.

⚖️ SEC drops lawsuit against Kraken, marking another win for crypto exchanges in the US.

⚖️ SEC to drop case against MetaMask, says Consensys founder.

💳 MetaMask to support Bitcoin, Solana, and launch physical crypto payment cards in 2025.

💰 Mexican billionaire Ricardo Salinas now holds 70% of his portfolio in Bitcoin, up from 10% in 2020.

📈 Michael Saylor predicts Bitcoin’s market cap will hit $200T.

🚀 Strategy leads U.S. convertible bond market in 2025 but has seen eight 30%+ drawdowns since adopting Bitcoin treasury.

💬 Tyler Winklevoss says only Bitcoin is hard money as Trump adds XRP, SOL, and ADA to the U.S. crypto reserve.

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🎬 End Notes 🎤

🌎 This weeks question is: Do we Trump or Dump Bitcoin during the Govee Szn?

Bitcoin's Global Adoption: Tracking Bitcoin's Growing Presence Across Countries. Sources:Jan3

📈 U.S. spot Bitcoin ETFs ended an 8-day outflow streak with a $94.34M net inflow on Feb. 28 but still saw $3.65B in net outflows for February.

🕯️ Bitcoin just printed a rare weekly hammer candle, a pattern seen only 5 times in BTC history, with past occurrences marking key turning points during bull runs and market corrections.

Checkmate’s analysis reveals that Bitcoin has only formed a weekly hammer candle with a 90% lower wick five times—in the 2017 bull run, at the 2021 peak near $69K, twice in 2023 after the SVB crisis and summer dip, and once in 2024 during a summer slowdown.

🤠 Texas Senate approved Bitcoin for state reserves, calling it digital gold!

A map tracking the progress of Strategic Bitcoin Reserve (SBR) bills across all 50 U.S. states. Source: Bitcoin Laws

🚨 On March 6, President Trump signed an executive order to establish a "strategic bitcoin reserve" and a "U.S. Digital Asset Stockpile" to support the crypto industry without taxpayer burden.

US Government Portfolio Update as of March 7. Source: Arkham Intelligence

Bitcoin plunged approximately 6% after the announcement, falling from $90,400 to $84K. Source: CoinmarketCap

🤔 Opinions on the Bitcoin reserve are mixed, with Sacks confirming it includes seized BTC, removing $17B in selling pressure, while experts see potential for favorable tax policies and institutional adoption.

Michael Saylor, Strategy's executive chairman, stated:

Jeff Park, head of alpha strategies at Bitwise Asset Management, criticized:

⭐ Trump’s first White House Crypto Summit on March 7 will bring together over 25 industry leaders and officials to discuss digital assets, regulations, and the future of crypto in the US.

🚀 With Trump’s signed Bitcoin reserve and the events of today’s Crypto Summit, will Bitcoin surge back to $100K?

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🤑 Top Tea 🫖

• Digihost Technology Changes Name to Digi Power X Inc. - GlobeNewswire

• MARA’s Plans to Expand Internationally, Purchase Energy Assets w/ Adam Swick - The Mining Pod

• What AI Means for ERCOT and the Texas Grid w/ Haley Thomson - The Mining Pod

• Diving Even Deeper on Quantum Bitcoin w/ Hunter Beast - BlockSpace

• Blackrock Warns of Bitcoin Supply Shock—Not Enough BTC for Every Millionaire - Bitcoin News

• SEC declares memecoins are not securities in landmark staff statement - CryptoSlate

• Trump floats US ‘Crypto Reserve’ Proposal, cites BTC, ETH, XRP, SOL, ADA - CryptoSlate

• Is Wall Street Behind the Bitcoin Bloodbath? - The Defiant

• Bitcoin Rises as Trump Tariffs Lift Rate Cut Hopes, Stoke Growth Concerns - Decrypt

• Senate Votes to Repeal Biden-Era Crypto Tax Rule -WSJ

• Money Printing — China’s Economic Defense Against Trump Tariffs May Drive Bitcoin Prices Higher - Bitcoin News

• HIVE Digital Targets 4x Hash Rate Growth & $100M HPC Revenue - Will It Take Off in 2025?- Bitcoin News

• AI Predicts Bitcoin’s Price Post The Crypto Summit: Will It Hit $100K Again? - Bitcoin News

• Trump's crypto czar David Sacks says US government missed out on $17 billion by selling Bitcoin too early - Crypto Briefing

• How Will Bitcoin Price React to Trump’s March 7 Crypto Summit and Nonfarm Payrolls? - CoinGape

• Bitcoin Price Up 8% Today, China Retaliates To Trump’s Tariffs Ahead of US NFP Release - CoinGape

• How can Bukele still stack Bitcoin after IMF loan agreement? - Cointelegraph

• Rep. Mike Collins now accepting crypto donations for campaign - Cointelegraph

• New GOP bill aims to end debanking of crypto companies, ‘risky’ industries - Cointelegraph

• Bitcoin struggles near $90K as US tariff fears spook ETF investors - Cointelegraph

• Strategy’s Saylor Explains Why US Needs Bitcoin- UToday

• Bitcoin ETFs record third straight day of net outflows led by Valkyrie’s BRRR - Crypto News

• Crypto-critic Elizabeth Warren requests immediate public disclosures from David Sacks ahead of Trump's summit - The Block

• Coinbase exec says Trump's Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure - The Block

• SafeWallet released a post-mortem on last month’s Bybit hack - Safewallet

• CNBC Daily Open: Trump paused tariffs for some imports — but Nasdaq enters correction territory - CNBC

• Trump’s first White House Crypto Summit has VIPs pushing for favorable laws - CNBC

• ‘Watch Out’—Forget Trump, China Is Quietly Priming A $1.4 Trillion Bitcoin Price Boom - Forbes

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💉 Dopamine Hit 🕺🏻