Google’s Secret Weapon in the AI Arms Race: Bitcoin Miners

Happy Monday Bitcoiners - it’s Bam with another weekly update!

Each week, we condense the most impactful news releases into a concise, easy-to-read update so you’re always in the know!

Notable events this week include 👇

• After nearly two years, Vanguard finally bows to Bitcoin.

• Fold teams with heavyweights to relaunch its Bitcoin credit card.

• From California to the UK, politicians push to expand the digital panopticon.

Let’s dive in⚡

Weekly Live Stream 🚨

Join Rob Wallace live today with @PortlandHODL, Bitcoin Core Contributor, as they unpack the biggest headlines and dive into the Core vs Knots divide.

Latest News 📰

🙌 Adoption

• Plan ₿ Network and the Plan ₿ VC Fund launch CypherTank, a Bitcoin-only Shark Tank–style pitch contest debuting at the Lugano Plan ₿ Forum with $850K in prizes and judges including Paolo Ardoino and Adam Back.

• El Salvador launches the world’s first public primary school financial education program on money and Bitcoin, using a textbook titled ¿Qué es Dinero? illustrated by Little HODLER cartoonist Lina Seiche.

• Macadamia Wallet has rolled out a new version featuring an iMessage extension that lets users send ecash in a clean, simple format. Send Bitcoin through iMessage with just a few taps.

⚖️ Legal

• US lawmakers urge the SEC to enact Trump’s order allowing 401 (k) savings to flow into Bitcoin and crypto. With $9T in 401 (k) accounts, the move could unlock a massive new channel for Bitcoin investment.

• California Senate passes SB-771, making major social platforms liable for “hate speech” by treating algorithms as active participation. If signed by Gov. Newsom, it takes effect in 2027, pushing platforms to censor.

• SEC and FINRA are investigating Bitcoin treasury companies whose shares spiked ahead of announcements that they planned to buy Bitcoin.

📈 Markets

• Vanguard shifts on Bitcoin: after rejecting spot ETFs in 2024, the firm is now in talks with partners to provide clients with access to third-party Bitcoin ETFs, following the success of its rivals.

• Morgan Stanley will offer Bitcoin to clients through a partnership with ZeroHash, allowing E*Trade users to trade Bitcoin and other crypto starting next year. The bank is also exploring a wallet solution for clients.

• Fold partners with Stripe and Visa to launch a Bitcoin credit card offering up to 3.5% back in BTC on all purchases, with up to 10% back at major brands including Amazon, Target, and Starbucks.

🏦 Treasury

• Metaplanet increases its holdings to 25,555 BTC, making it the 6th largest corporate treasury. Since the inception of its BTC strategy, the company has acquired 10.6% of all daily mined Bitcoin.

• OranjeBTC launches with a 3,650 BTC purchase (~$385M at $105K avg), backed by the Winklevoss twins, Adam Back, and Ricardo Salinas. It will list on Brazil’s B3 exchange, becoming Latin America’s largest BTCTC.

• BitcoinTreasuries reports institutions hold 3.75M BTC, about 18% of supply. These holdings are spread across 332 entities, including 192 public companies with 1,032,523 BTC.

⛏️ Mining

• HIVE surpasses 20 EH/s of global Bitcoin mining capacity after deploying rigs at its Phase 3 Paraguay site, now representing 2% of the network. The company is mining 9 BTC/day at 18 J/TH efficiency.

• Google is buying into public bitcoin miners, with 5.4% of Cipher Mining and 14% of TeraWulf. The AI boom demands huge power, and miners offer utility ties, cheap energy, and flexible loads.

• The NERDQAXE++ takes home mining to the next level with 4.8 TH/s of liquid-cooled hashrate, quiet and efficient. Run a miner, decentralize hashrate.

🗳️ Politics

• UK government announces mandatory digital IDs, warning that without one “you’ll have a problem if you want a new job.” Officials claim it’s not heavy-handed, but say they’ll ensure everyone gets one.

• Dennis Porter angered many in the Bitcoin community after his hyped US Bitcoin politics reveal amounted to this: Pro-Bitcoin Democrat Ian Calderon announcing his run for California Governor.

• Kamala Harris claims in her new book that Trump pardoned allies like “fentanyl dealer Ross Ulbricht.” In fact, Ross was never charged with dealing drugs, and fentanyl was not part of his case.

🧠 Bitcoin Trivia 🧠

Bam’s 2 Sats 🧢

From Arbitrage Play to $500B Bitcoin Backstop

Not long ago, a crypto company emerged with a simple mission: move U.S. dollars more easily between exchanges to enable arbitrage and close spreads in Bitcoin and crypto markets worldwide..

That company, now universally known as Tether, grew slowly and methodically despite constant criticism, accused of “printing money out of thin air” and “not backing customer funds.” Defying critics and U.S. pressure, Tether now seeks to raise $20B at a $500B valuation, making it the world’s most valuable private company.

The Tether story is remarkable. With a market cap above $174B and over $127B in U.S. government debt, it now ranks as the world’s 18th largest holder as of May 2025.

In its early days, Tether struggled to find banking partners. It eventually built a key relationship with the U.S. through Cantor Fitzgerald, which gave it access to the U.S. debt market and later bought a 5% stake in the company.

Tether has become one of the most profitable companies on a per-capita basis. It earned $13B in profit last year, and 2025 could push that toward $20B. At this pace, Tether may soon rank among the most profitable private companies in history.

What makes this especially relevant for Bitcoin: Tether invests 15% of its profits into BTC, translating to over $3B in annual buys. That puts it alongside MicroStrategy and Metaplanet as a true Bitcoin Buyer of Last Resort.

My take: Bitcoin’s path forward is being driven by big institutions. But my hope is that we, the plebs, keep stacking. If everyday people represent a larger share of demand than traders or whales, we not only benefit the most but also keep Bitcoin’s distribution in the hands of the people, not corporate treasuries.

We can’t stop bigger fish from buying Bitcoin. But we can make sure to buy more ourselves.

Stay safe and keep on stacking!
-Bam

The World After Inflation and Why Bitcoin Wins

Rob Wallace speaks with Jeff Booth, author of The Price of Tomorrow and founding partner at Ego Death Capital, about Bitcoin, AI, and the future of the global economy.

Jeff shares why deflation is natural, how AI is accelerating, and how Bitcoin offers a path to freedom and abundance.

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