Crypto
crypto
Yaël Bizouati-Kennedy

Hut 8 pops after reporting Q2 earnings

Bitcoin miner Hut 8 released second-quarter earnings today, missing analysts’ expectations on revenue but beating on earnings per share. 

Shares rose over 4% in early trading.

The company’s revenue for the quarter was $41.3 million, below analysts’ expectations of $48.59 million, according to Bloomberg. Meanwhile, adjusted earnings per share stood at $1.18, compared to analysts’ expectations of $0.09.

Asher Genoot, CEO of Hut 8, told Sherwood News that this quarter underscored the strength of the company’s power-first, innovation-driven strategy. 

“We delivered strong financial results while continuing to challenge legacy models in digital infrastructure design and development. The energization of our Vega site, which features a proprietary new Tier 1 data center form factor, is a clear signal of where we’re headed as we strive to redefine the future of energy and digital infrastructure,” Genoot said. 

Hut 8 also added to its bitcoin reserve, growing its stash to 10,667 bitcoin, up from 10,273 bitcoin, worth roughly $1.1 billion.

Eric Trump-backed American Bitcoin, a subsidiary of Hut 8, announced yesterday that Gryphon Digital Mining stockholder voting has started “for a special meeting to be held on August 27, 2025.”

“In addition to completing an oversubscribed private placement and advancing toward a Nasdaq listing, American Bitcoin is now a dedicated anchor tenant for our Power and Digital Infrastructure segments. More broadly, this shift reflects the growing depth of our institutional partnerships, with marquee counterparties such as BITMAIN, Macquarie, Coinbase, and Anchorage each playing a central role in our execution this quarter,” Genoot said in the press release. 

In May, American Bitcoin announced it was merging with Gryphon Digital Mining and will trade on the Nasdaq under the ticker “ABTC.”

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While the crypto industry has shed $564.3 billion in 2026, Hyperliquid’s native token has bucked the downtrend and jumped 54.8% year to date.

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crypto
Sage D. Young

Payward, parent company of crypto exchange Kraken, puts plans for IPO on hold

Payward, crypto exchange Kraken’s parent company, has paused its plans for an initial public offering until market conditions improve, according to a report from CoinDesk that cited two people with knowledge of the matter. 

Since the firm announced in November its preparation for an IPO of its common stock, the total market capitalization of the crypto industry has shed around $652.2 billion, from $3.2 trillion to $2.5 trillion as of Wednesday, data from CoinGecko shows. 

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

crypto
Sage D. Young

SEC and CFTC issue new guidance on how securities laws apply to crypto assets

On Tuesday, the US Securities and Exchange Commission, together with the Commodity Futures Trading Commission, issued an interpretation clarifying how federal securities law applies to crypto assets, a first step toward developing a clearer regulatory framework. 

The interpretive guidance introduces a token taxonomy for different types of cryptocurrencies, with SEC Chairman Paul S. Atkins adding that “most crypto assets are not themselves securities.”

Examples of a digital commodity, “a crypto asset that is intrinsically linked to and derives its value from the programmatic operation of a crypto system that is ‘functional,’” include:

The guidance also includes definitions of digital collectibles (such as NFTs), stablecoins, digital tools, and digital securities (such as tokenized real-world assets and stocks).

This is a monumental step in the mainstream adoption of the industry and clears a hurdle in how crypto can operate going forward, according to David Pakman, head of venture investments at CoinFund. “This will allow new token designs with the confidence that their existence does not require registration with the SEC, etc.,” Pakman told Sherwood News.

Despite the clarification efforts from the two organizations, the market capitalization of the crypto industry has dropped about 2% in the last 24 hours as each of the tokens mentioned in the guidance are trading lower in the period, data from CoinGecko shows.

The joint agency action also complements congressional efforts to turn a crypto market structure framework into law. With the goal of providing regulations on the offer and sale of digital commodities, the CLARITY Act passed the House of Representatives last year and is now sitting in the Senate.

Yaël Bizouati-Kennedy
3/18/26
Citi analysts cut 12-month bitcoin projection to $112,000 from $143,000

The analysts’ bear-case scenario is $57,537, based on “recessionary macro-factors, especially weak equity markets,” which could cause ETF flows to stall.

Bitcoin ice carving

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