CleanSpark, American Bitcoin mining company, announced its financial results for the second quarter of fiscal year 2025, reporting $181.7 million in revenue for the three months ended March 31. This marks a 62.5% increase from $111.8 million in the same quarter last year.

Despite the revenue growth, the company reported a net loss of $138.8 million, or $0.49 per basic share, compared to net income of $126.7 million, or $0.59 per basic share, during the prior-year period. Adjusted EBITDA also declined to negative $57.8 million from $181.8 million a year ago.

As of March 31, 2025, CleanSpark held $97.0 million in cash and $979.6 million in bitcoin. Total current assets stood at…

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The Office of the Comptroller of the Currency (OCC) has issued new guidance confirming that national banks and federal savings associations can engage in crypto-asset custody and trading services. This clarification comes in Interpretive Letter 1184, which outlines that banks may buy and sell digital assets held in custody at their customers’ direction and may also outsource crypto-related activities, such as custody and execution services, to third parties. However, banks must ensure they implement proper third-party risk management practices.

This decision is important as the OCC’s guidance enables banks to participate more actively in the rapidly growing cryptocurrency market,…

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This week, three U.S. states have enacted bitcoin-related bills into law.

On Tuesday, New Hampshire became the first state to sign into law a bill that would allow for the creation of a strategic bitcoin reserve (SBR).

On Wednesday, Arizona enacted its second bill related to bitcoin, blockchain, and digital assets.

Also on Wednesday, Oregon’s governor signed a bill into law that updates the state’s commercial code to have it recognize digital assets such as bitcoin as collateral.

New Hampshire Can Now Establish An SBR

On Tuesday, New Hampshire signed HB302 into law, making it the first state in U.S. history with the legal footing to create an SBR.

New Hampshire is once again First…

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Missouri lawmakers have approved a sweeping tax reform that eliminates state income tax on capital gains including those from cryptocurrency trades. The bill now heads to Governor Mike Kehoe for final approval. Supporters say the move will encourage investment and innovation especially in digital assets like Bitcoin and Ethereum.

The bill passed with strong Republican backing while most Democrats abstained or voted present. Lawmakers project a $430 million revenue loss this fiscal year and $340 million annually. Despite budget concerns the bill also expands tax credits for low-income seniors and exempts sales tax on diapers and feminine hygiene products.

Crypto advocates see this as a major win since digital asset gains will now be tax free in Missouri starting in 2025. The change could attract more crypto traders and investors to the state promoting long-term holding and market growth. Corporate capital gains will remain taxed until 2030 but this delay helped ease Senate opposition to the measure.

Bill

A Strategic Bitcoin Reserve is a designated accumulation of Bitcoin (BTC) held by a government, institution, or corporation to secure financial stability, hedge against inflation, and reinforce economic sovereignty. Similar in function to gold or foreign exchange reserves, it leverages Bitcoin’s fixed supply, decentralization, and global liquidity to mitigate economic and geopolitical risks.

What is a Strategic Bitcoin Reserve

A Strategic Bitcoin Reserve (SBR) represents a deliberate holding of Bitcoin by national governments or large corporations as part of their strategic financial reserves. Rather than speculative investment, the goal is long-term economic protection and…

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Arizona has made history by becoming the second state in the U.S. to create a Strategic Bitcoin Reserve. On Thursday, Governor Katie Hobbs signed House Bill 2749 into law, officially launching the Arizona Bitcoin & Digital Assets Reserve, a pioneering move that channels profits from unclaimed property into Bitcoin and other top-tier digital assets.

The bill outlines several key features:

Redirection of unclaimed-property profits toward Bitcoin and other digital assets Use of interest, staking rewards, and airdrops from abandoned property to fund strategic acquisitions Strong diversification rules, ensuring Bitcoin supplements — but doesn’t dominate — Arizona’s investment… Read more on BitcoinMagazine