Bitcoin News Today: Marathon Digital Posts 64% Revenue Jump Amid AI Strategy Scrutiny

Marathon Digital Holdings, one of the largest publicly traded Bitcoin mining firms, delivered a remarkable second-quarter performance, posting $238 million in revenue—a 64% increase—and $808 million in net income, driven primarily by its 50,000 BTC portfolio, now valued at over $5.8 billion [1]. Despite these impressive financials, the company faces scrutiny over its foray into artificial intelligence (AI) partnerships, including TAE Power Solutions and PADO AI, which have yet to deliver clear returns. Compass Point analysts have labeled the stock as “neutral,” warning that these initiatives may increase costs without immediate gains, especially as competitors capitalize on the high-performance computing (HPC) boom [2].

The firm’s strategic focus on expanding its global presence is also under evaluation. Marathon has outlined ambitions to double down on non-U.S. markets, including sovereign joint ventures to leverage stranded energy, aiming to increase non-U.S. revenue to 50% of total output. However, its stock price remains slightly below the $18 target, trading at $17.11, up 3% in the wake of earnings optimism but weighed by investor concerns about its AI strategy [3].

Meanwhile, the broader cryptocurrency market is being reshaped by shifting tax policies. Starting August 1, Indonesia introduced a revised tax framework that triples the value-added tax (VAT) on crypto mining to 2.2%, increases domestic exchange trade taxes to 1%, and raises offshore trade taxes to 0.21%. Notably, the special mining tax will be eliminated in 2026. In an unexpected twist, crypto buyers—especially those acquiring assets classified as securities—will be exempt from VAT, a move Finance Minister Sri Mulyani described as an effort to align with global standards and offer clarity for local investors [4].

The policy shift is expected to place short-term pressure on miners and sellers but may drive increased retail demand, potentially stabilizing Bitcoin’s price floor around $116,000. With Indonesia's crypto trading volume tripling in 2024 to $39.7 billion and more crypto investors than stock investors in the country, the implications of these changes could be far-reaching [5].

On the U.S. regulatory front, the White House is set to release its first formal crypto policy report following a 180-day review of Executive Order 14178. Led by Bo Hines, Trump’s crypto chief, the report is expected to address key issues including stablecoin regulations, digital asset jurisdiction, national security safeguards, and banking access for crypto firms [6]. A major point of interest is the disclosure of U.S. government-held Bitcoin—198,012 BTC, valued at over $23.2 billion—seized by the FBI and DOJ. This revelation highlights the government’s growing exposure to digital assets and could signal a shift toward strategic BTC reserves [7].

The report is anticipated to arrive alongside legislative efforts such as the Anti-CBDC Act and the GENIUS Act, potentially spurring a new wave of institutional interest in the space. Analysts have compared this development to crypto’s “ChatGPT moment,” a regulatory milestone that could boost long-term bullish sentiment [8].

Technically, Bitcoin is consolidating near a symmetrical triangle on the 4-hour chart, oscillating between a descending resistance at $125,000 and ascending support from early July. The price is currently below the 50-period simple moving average ($118,145), which has become a key resistance level. The RSI indicator is weakening, at 39.20, with no bullish divergence observed. A notable three black crows pattern and repeated rejection near $118,000 suggest that sellers are in control [9].

If Bitcoin breaks below $116,500 with strong volume, it could fall toward $114,532 or even $111,799. A confirmed breakout above $120,283, however, could trigger a move toward $122,845. Key resistance levels are at $118,280 and $120,300, while support is seen at $116,500 and $114,530 [10].

In the Layer 2 space, Bitcoin Hyper ($HYPER), a new project integrating Solana Virtual Machine (SVM) with Bitcoin's security, has raised over $5.9 million in a public presale. The token, priced at $0.012475, is being marketed as a bridge between Bitcoin’s security and Solana’s scalability. With a target of $7.004 million, the presale is gaining traction, with plans for a full rollout by Q1 2026 [11].

The convergence of strong mining profits, regulatory clarity, and technological innovation is shaping a pivotal moment for Bitcoin. Yet, with rising costs and evolving tax policies, the path forward remains complex, balancing optimism with caution.

Source: [1][2][3][4][5][6][7][8][9][10][11]

[1] Cryptonews - https://cryptonews.com/news/bitcoin-price-prediction-808m-marathon-win-vs-rising-crypto-taxes-whats-next/

[2] Decrypt - https://t.co/Oy3BkYP3bM

[4] Satoshi Club - https://t.co/7WHpst6b96

[6] Bitcoin Archive - https://t.co/N5cUNuE4vG