Cipher Mining Stock Is Up Over 6% In Wednesday’s Pre-Market: What’s Going On?

Cipher Mining, Inc. CIFR shares rose in Wednesday’s pre-market session as the company scales up its Bitcoin BTC/USD mining operations.

What happened: Cipher’s Black Pearl facility in Texas commenced operations last week with an initial hashrate of 2.5 exahashes per second (EH/s), with Phase I projected to reach 9.6 EH/s. The company aims to achieve a total hashrate of 23.1 EH/s by the third quarter.

Cipher said it started mining Bitcoin at the site “ahead of schedule.”

Last month, analysts from Cantor Fitzgerald reiterated a “Buy” rating for the stock, raising the price target to $6 from $4, according to finance website Insider Monkey.

Cipher, having a market capitalization of $1.64…

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LATEST: Figma Discloses $70M Bitcoin ETF, Plans Additional $30M Purchase Soon

Design platform Figma has revealed a strong commitment to cryptocurrency in its latest SEC filing. The company holds $69.5 million in Bitcoin ETFs as of March 31, 2025, and its board recently approved an additional $30 million for future Bitcoin investments. This move shows Figma’s growing confidence in Bitcoin despite recent price swings.

Figma’s S-1 filing confirms the investment is part of its $1.54 billion in cash and marketable securities. The company first invested $55 million in a Bitcoin ETF managed by Bitwise Inc. in March 2024. In May 2025, Figma converted $30 million into USDC, with plans to buy more Bitcoin soon. The filing highlights Bitcoin’s volatility but states no credit losses have occurred.

The company also reported $23.8 million in unrealized gains from equity investments for 2024, but saw a $9.3 million unrealized loss in Q1 2025. Interest income reached $63.7 million in 2024 and $15.5 million in Q1 2025. Figma’s crypto bet reflects its belief in Bitcoin’s long-term potential.

SEC Filing

Tariff deadline approaches as Powell says trade policies delayed rate cut

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

Most trade deals are apparently still in limbo, but the 90-day pause on the majority of President Trump’s “Liberation Day” tariffs is expiring soon. July 9, to be exact. 

Here’s what we know about where we stand and how tariffs continue to impact markets and monetary policy. 

In a Fox News interview recorded Friday and released Sunday, Trump said that while he doesn’t intend on extending the pause, he “could.” 

Bloomberg and Reuters, both citing sources familiar, reported this morning that the European Union is willing to accept a trade agreement with the US…

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LATEST: Italian Bank UniCredit to Offer Product Based on BlackRock Bitcoin ETF

Italian banking giant UniCredit will soon offer professional clients a new structured investment product tied to BlackRock’s highly successful spot Bitcoin exchange-traded fund according to Bloomberg. The product will come as a five-year dollar-denominated investment certificate designed to meet growing demand from investors seeking crypto exposure through traditional finance channels.

The certificate will provide 100% capital protection at maturity signaling confidence in Bitcoin’s place in mainstream investment portfolios. BlackRock’s spot Bitcoin ETF listed under the ticker IBIT has amassed over $73 billion in assets under management according to The Block Data Dashboard making it the largest crypto-linked financial product to date.

BlackRock also expanded its Bitcoin offerings in Europe this year with its spot Bitcoin exchange-traded product listed in March on Euronext Paris and Xetra under the ticker IB1T as well as on Euronext Amsterdam under BTCN. As Bitcoin adoption grows UniCredit’s move marks a bold step to bridge traditional finance with the rising world of digital assets.

Bloomberg

DDC Enterprise Finalizes $528 Million Financing To Accelerate Bitcoin Treasury Strategy

DDC Enterprise Limited (NYSE: DDC) has officially closed its $528 million financing deal to expand its corporate Bitcoin strategy. The funding, led by Anson Funds with participation from Animoca Brands, Kenetic Capital, and others, is one of the largest Bitcoin-focused capital raises by a NYSE-listed company. 

“This maximum aggregate $528 million capital commitment marks a watershed moment for DDC,” said Norma Chu, Founder, Chairwoman, and CEO of DDC. “With premier institutions such as Anson Funds, Animoca Brands, and Kenetic Capital backing our vision, we believe we have unprecedented capacity to execute our mission of building one of the world’s most valuable…

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Why Bitcoin Is Trapped In A Range Despite Record ETF, Treasury Company Flows

Bitcoin’s BTC/USD price may continue to stay within its current trading range despite rising institutional interest and significant ETF inflows, according to Michael Bucella, managing partner at Neoclassic Capital.

In an interview with CNBC on Tuesday, Bucella explained that although demand for Bitcoin is strong, structural factors are preventing further price movement.

“ETF inflows have been enormous, I think $4 billion in June alone,” Bucella said, highlighting the surge of institutional capital entering Bitcoin through regulated products.

However, he pointed out that this demand is not directly translating into higher prices.

Bucella said that some investors are rotating out of…

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Eric Trump’s American Bitcoin Raises $220 Million In Private Stock Sale To Buy More BTC

Hut 8 Corp. filed with the SEC that its majority-owned subsidiary, American Bitcoin Corp., has raised $220 million in a private stock placement with accredited investors, with a portion of the investment made in Bitcoin.

The company announced that it sold over 11 million shares of its Class A common stock during the first closing of the transaction on June 27, following a June 24 agreement with accredited investors. The offering included $10 million worth of shares purchased with Bitcoin, using a conversion rate of $104,000 per Bitcoin. After fees and commissions, the company received approximately $215 million in net proceeds.

The funding will be used to grow the…

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The One Big Beautiful Act Passes In The U.S. Senate — Without Bitcoin Tax Amendment

Today, the One Big Beautiful Act passed in the U.S. Senate with a 51-50 vote, the final vote having been cast by Vice President Vance.

After a marathon amendment session, the bill passed without any Bitcoin- or crypto-related amendments included in it.

Senator Cynthia Lummis (R-WY) pushed for a vote on an amendment to the bill that would have provided for a de minimus capital gains exemption on crypto transactions of $300 or less, with a $5,000 yearly cap.

The senator urged Bitcoin and crypto enthusiasts to call their senators to let them know that this issue was important to them.

Leaders in the Bitcoin and crypto industry also spoke up about the importance of…

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Public Companies Are Buying More Bitcoin Than ETFs For Third Quarter In A Row

Corporate treasuries have surpassed exchange-traded funds (ETFs) in Bitcoin accumulation for the third consecutive quarter, according to new data from Bitcoin Treasuries. Public companies acquired approximately 131,000 BTC in Q2 2025—an 18% increase from the previous quarter—compared to an 8% uptick, or 111,000 BTC, among ETFs. 

“The institutional buyer who is getting exposure to Bitcoin through the ETFs are not buying for the same reason as those public companies who are basically trying to accumulate Bitcoin to increase shareholder value at the end of the day,” said Nick Marie, head of research at Ecoinometrics. 

In April alone, public company holdings rose 4%…

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Italian Bank UniCredit SpA Announces Investment On BlackRock’s Bitcoin ETF IBIT

Italy-based UniCredit SpA announced today it will offer to its professional clients a structured investment product tied to BlackRock’s iShares Bitcoin Trust ETF (IBIT), offering their clients full capital protection against losses, Bloomberg reported.

“The bank plans to issue a five-year, dollar-denominated investment certificate linked to the iShares Bitcoin Trust ETF which will offer a 100% capital protection at maturity,” according to an internal memo seen by Bloomberg News that was also confirmed by the bank.

The maximum return of the investment is up to 85% of the ETF’s performance, with a minimum investment requirement of $25,000, according to the memo. The…

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