Hello everyone, welcome back to What Happened in Crypto, your go-to roundup of the top headlines in the cryptocurrency world from yesterday. From massive ETH accumulation during a downturn to Bitcoin miners reinventing themselves for the AI era, the industry is screaming out loud, that its here to stay. So let’s dive in.
BitMine Buys 40,613 ETH, Doubling Down on ETH Amid Market Sell-Off
BitMine Immersion Technologies (BMNR), the Ethereum treasury firm chaired by Fundstrat’s Tom Lee, continued its aggressive accumulation strategy despite Ether’s sharp correction. The company said it accumulated 40,613 ETH during the week ending February 8, which is worth roughly $8.8 billion. Data also shows that close to 40,000 ETH was bought in a single day, with the purchases routed through FalconX and BitGo.
While the company remains deeply underwater in its position, with paper losses estimated at $7.7 billion, BitMine’s aggressive accumulation signals long‑term conviction in Ethereum’s future. This has boosted their total holdings to ~4.326 million ETH, which is about 3.58% of the circulating supply.
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Crypto.com founder buys ai.com for record $70 million
Crypto.com co-founder and CEO Kris Marszalek made headlines by purchasing the ultra-premium domain ai.com for $70 million. This marks the highest publicly disclosed domain sale in history. The transaction, brokered by Larry Fischer of GetYourDomain.com, was settled entirely in cryptocurrency in a deal brokered last April but only brought to light in February 9 by the Financial Times.
The domain is likely to host a new AI agent platform set to debut during the Super Bowl. It plans to offer tools for messaging, app usage, and trading. Marszalek, who previously spent $12 million acquiring crypto.com in 2018, appears to be positioning for a major AI play.
Bitcoin Miner Cango Dumps 4,451 BTC Amid Slump to Cut Debt and Fund AI Compute Shift
Bitcoin miner Cango has sold 4,451 BTC, worth ~$305 million in USDT, to repay a Bitcoin‑collateralized loan, the publicly listed company declared over the weekend. Cango described the move as part of a strategic pivot toward AI. It said it would be leveraging its grid-connected mining infrastructure to provide distributed compute power for the booming AI industry. While Cango will maintain its mining operations, declining output and post‑halving economics have pushed the firm to diversify. The company also appointed a former Zoom executive as CTO to lead its AI expansion.
Shares of the company dipped over 3% post the announcement and also shows investor uncertainty as a growing number of Bitcoin miners are exploring diverse revenue streams, especially the high-demand AI data-center services.
Jump Trading to Earn Stakes in Polymarket, Kalshi via Liquidity Deals: Bloomberg
High-frequency trading giant Jump Trading is set to gain minority equity stakes in leading prediction-market platforms Polymarket and Kalshi, according to a Bloomberg report. The stake is in exchange for providing deep liquidity and market-making services. The deal with Kalshi gives Jump a fixed equity share in the company, while the stake at Polymarket can expand over time depending on the trading volume and liquidity Jump provides. These stake deals position Jump as a key player in the fast‑growing prediction‑market landscape.
Those were some of the top stories that caught our attention starting the second week of Feb with a bang. Whether it’s trading giants expanding or whales mopping up, and the coming together of crypto and AI, this space is always buzzing. So stay tuned for tomorrow’s edition, as we’ll be back with all the action, in case you miss it.
