The deal followed Riot announcing last week that it sold more than $160 million of its Bitcoin holdings as part of a strategy shift, to broaden use of its data centers. Shares of Riot Platforms jumped more than 11% after the crypto miner said it sold Bitcoin to help finance a land acquisition in Texas. In a Friday notice, Riot said the $96 million deal for 200 acres of land in Rockdale, Texas was funded entirely by the sale of about 1,080 Bitcoin (BTC). The miner also signed a data center lease and services agreement with semiconductor company Advanced Micro Devices (AMD), initially deploying 25 megawatts (MW) of “critical IT load capacity.” “These results mark a pivotal moment that cements Riot’s position as a leading data center developer, less than twelve months since the launch of our formal process to evaluate our assets for AI/HPC use,” said Riot CEO Jason Les. Read more
The crypto market rally lost momentum as Bitcoin met resistance near $98,000, but technical charts suggest traders will actively buy dips to underlying support levels in altcoins and BTC. Key points: Bitcoin is attempting to find support near the $94,500 level, signaling a positive sentiment. Buyers will have to defend the support levels in select major altcoins, or else the recovery may fizzle out. Read more
BTC price surged nearly 150% after a similar BTC–gold undervaluation signal in late 2022, highlighting how extreme discounts have preceded major rallies. Bitcoin (BTC) slipped into its deepest undervaluation against gold (XAU) on Friday, reviving expectations of a potential capital rotation away from the precious metal and back into cryptocurrency markets in 2026. Key takeaways: Bitcoin is at a record undervaluation versus gold, a level historically linked to major BTC bottoms. Read more