Global Crypto Mining News in April：the U.S. government accelerates Bitcoin mining, the Pakistani government allocates surplus electricity for mining, etc

May 07, 2025

Eric Trump, the second son of former U.S. President Donald Trump, has co-founded a Bitcoin mining company called American Bitcoin in partnership with mining firm Hut 8 Mining. The company plans to go public in the future and is seeking additional private funding. It has also partnered with Chinese mining hardware manufacturer Bitmain to expand its equipment deployment and operational capabilities.

Publicly listed Bitcoin mining company MARA has released its unaudited Bitcoin production update for March 2025: average daily Bitcoin mining output increased by 6% month-over-month; 829 BTC were mined in March; the company’s total Bitcoin holdings have now grown to 47,531 BTC.

Starting April 1, the southern region of Irkutsk Oblast may implement a year-round comprehensive ban on cryptocurrency mining, applicable to both legal entities and individuals. On February 17, Irkutsk Governor Igor Kobzev submitted a proposal to Vladimir Putin, recommending restrictions on cryptocurrency mining activities until March 15, 2031. The proposal also includes the design of a mechanism to reallocate the power load from disconnected miners to support the implementation of regionally significant socio-economic projects.

Cango is moving a step closer to becoming a Bitcoin mining proxy for Bitmain by agreeing to divest its Chinese auto-financing business for $352 million to a firm linked to Bitmain’s affiliate, Antalpha. According to Cango, the deal includes an upfront payment of $210.6 million from Ursalpha, with additional installments contingent on meeting tax obligations and reducing credit risk exposure of the divested entities. Cango mined 530 BTC in March and held 2,475 BTC at the month’s end.

Bitcoin mining company Hut 8 has released its March operations update: the company mined 88 BTC during the month, bringing its total Bitcoin holdings to 10,264 BTC, with a deployed hashrate of 9.3 EH/s. Additionally, Hut 8 CEO Asher Genoot revealed that the company has transferred nearly all of its ASIC miners to the newly established entity, American Bitcoin. This independent mining firm, majority-owned by Hut 8, is focused on Bitcoin mining and the development of strategic reserves.

In response to the United States’ new round of global tariff policies, Bitcoin miners are accelerating the import of mining equipment from countries such as China, Malaysia, and Thailand ahead of the tariff implementation. Some large mining firms are even chartering flights at costs ranging from $2 million to $3.5 million per trip to avoid tariffs as high as 104%. It is estimated that in Q1 2025, the U.S. imported over $860 million worth of mining machines. The new policy is expected to drive up mining equipment prices by 22% to 36%.（Blockspace Media）

Bitdeer had signed a turnkey agreement to acquire and build a 50-megawatt Bitcoin mining project in Ethiopia for $7.5 million. Bitdeer expects the project to be energized in Q4. The acquisition includes an unnamed local Ethiopian company that holds a mining permit. Bitdeer noted that the local partner has secured a Power Purchase Agreement (PPA) with the Ethiopian Electric Power Company for a four-year term at an electricity rate of approximately US$0.036 per kWh. At the same time, Bitdeer will suspend the disclosure of its Bitcoin mining chip production capacity data.（The Miner Mag）

Pakistan plans to allocate a portion of its surplus electricity to Bitcoin mining and artificial intelligence data centers, according to Bilal Bin Saqib, head of the country’s Cryptocurrency Committee and advisor to the Finance Minister. He added that Pakistan has held discussions with several Bitcoin mining companies. The locations of the mining centers will be determined based on areas with excess power supply.

The state of Arizona has officially passed the Bitcoin Mining Rights Bill HB 2342, which protects individuals running nodes or mining digital assets from zoning restrictions or usage bans. The bill passed the Senate with a vote of 17 to 12 and has now been sent to the Governor’s office for signature.

10.

Democrats in the U.S. Senate have introduced a draft of the Clean Cloud Act, which proposes imposing fees on data centers that support blockchain networks and AI models exceeding federal emissions targets. The bill mandates the Environmental Protection Agency (EPA) to establish emission standards for data centers and crypto mining facilities with installed IT nameplate power exceeding 100 kW, aiming for an annual emissions reduction of 11%. Facilities that exceed the limits would face a penalty of $20 per metric ton of CO₂ equivalent, with the fee increasing by $10 annually to account for inflation.

11.

In an interview at the Consensus festival, Aaron Forster, Director of Business Development at Bitcoin mining company Luxor Technology, stated that the cryptocurrency mining industry is gaining acceptance and is naturally expanding into other markets, with large miners transitioning into power infrastructure providers for artificial intelligence. “Bitcoin mining is a stepping stone toward larger, more capital-intensive industries like AI,” he said. “That excites me because it’s helping Bitcoin mining gain broader acceptance.”（CoinDesk）

12.

Tether announced its intention to deploy both existing and future hashrate on OCEAN, a leading Bitcoin mining pool launched by long-time Bitcoin Core developer Luke Dashjr. This strategic move strengthens Tether’s ongoing commitment to supporting the resilience, transparency, and decentralization of Bitcoin’s foundational infrastructure.

13.

U.S. Bitcoin mining company CleanSpark has announced an expansion of its credit line with Coinbase Prime to $200 million to support non-dilutive growth and launch a self-funded operational model. The company will sell a portion of its monthly Bitcoin output to cover operational costs while officially launching an institutional-grade Bitcoin treasury management team. CleanSpark CEO Zach Bradford stated that the company’s Bitcoin holdings have surpassed 12,000 BTC, valued at approximately $1 billion. The company’s target hash rate is 50 EH/s, aiming to enhance shareholder value through a balanced strategy.

14.

Bitdeer plans to take advantage of the 90-day tariff suspension period to ship mining equipment from Southeast Asia to the U.S. and begin production in the U.S. in the second half of this year. The company will focus on using its mining equipment for its own mining operations rather than selling it to other miners. Additionally, the company is expanding its global presence, entering new markets such as Canada and Ethiopia, while also advancing its strategic shift toward artificial intelligence and high-performance computing.

15.

Bitcoin mining hosting and cloud services company Applied Digital (APLD) has announced its quarterly financial results, reporting revenue of $52.9 million, a 22% year-over-year increase, but falling short of analysts’ expectations of $64.5 million. The stock price dropped by as much as 30% during intraday trading, reaching $3.90. Revenue from the cloud services business decreased by 36% quarter-over-quarter to $17.8 million. The company’s board has approved the sale of this business and plans to focus on high-performance computing (HPC) data centers, with potential future plans to transition into a real estate investment trust (REIT). (CoinDesk)

16.

Two senior officials in Bhutan have revealed that the country has made millions of dollars in profit through cryptocurrency investments in recent years, and has used some of the earnings to pay two years’ worth of wages for government employees. Bhutan is conducting green cryptocurrency mining using 100% hydropower, and officials are evaluating whether to sell these “green coins” to large corporations that need to meet Environmental, Social, and Governance (ESG) goals, in order to promote the development of green finance.

17.

Bitcoin mining company Bit Digital, through its Canadian subsidiary Enovum Data Centers, has acquired an industrial facility in Madison, North Carolina, previously owned by Unifi, for $53.2 million. The acquisition includes the building, land, and some equipment. This acquisition is expected to be completed by May 15 and is part of the company’s strategic shift towards AI high-performance computing (HPC).（MinerMag）

18.

Bitdeer is increasing its financial leverage to aggressively advance its Bitcoin ASIC mining manufacturing plans. According to its latest annual report, the company has raised a total of $179 million through loans and stock issuance. The company has signed a loan agreement with Matrixport for up to $200 million and issued over 6 million Class A shares earlier this year, raising $118.8 million in funding.（MinerMag）

19.

Bitcoin mining company Riot Platforms has entered into a $100 million credit agreement with Coinbase Credit. The company stated that the funds will be used for strategic plans and general corporate purposes. The loan has a floating interest rate of at least 7.75% per annum, with a term of 364 days, and is secured only by a portion of Riot’s Bitcoin reserves.（CoinDesk）

20.

The company focused on DOGE mining, Z Squared, will go public through a merger with biopharmaceutical company Coeptis (COEP), with the transaction expected to be completed in the third quarter of 2025. After the merger, Coeptis’ pharmaceutical business will be spun off, and the new entity will focus on cryptocurrency mining, including Dogecoin (DOGE) and Litecoin (LTC).CoinDesk）

21.

U.S. Secretary of Commerce Howard Lutnick stated that the U.S. will “accelerate Bitcoin mining” through the “Investment Accelerator” program, which aims to support mining companies in building their own power infrastructure to reduce dependence on the public grid. He noted that the U.S. will allow miners to build power plants and data centers near natural gas fields to further enhance energy efficiency. Lutnick also revealed that the Department of Commerce is considering including Bitcoin in the national economic accounts and emphasized that the current government is a strong supporter of Bitcoin, working to create a “Bitcoin Strategic Reserve.”

22.

Russia’s anti-money laundering agency, Rosfinmonitoring, plans to push for the criminalization of illegal cryptocurrency mining and has received support from the Ministry of Finance, the Central Bank, and the Civil Chamber. Deputy Director German Neglyad stated that the proposal aims to combat the use of illegal mining to assist criminals in money laundering, and relevant legal amendments are being prepared. Currently, mining is only prohibited in winter in 9 regions of Russia, with some areas in Irkutsk under a ban lasting until 2031. However, illegal mining has not yet been included in the criminal code and is currently penalized only under charges such as electricity theft.

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