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    Zondacrypto (formerly BitBay) Faces Estonia FSA Warning

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    Zondacrypto (formerly BitBay) Faces Estonia FSA Warning


    Jessie A Ellis
    May 08, 2026 21:27

    Estonia’s FSA issues an investor warning for Zondacrypto, citing MiCA compliance issues amid ongoing withdrawal crises and investigations.

    Estonia’s Financial Supervision and Resolution Authority (FSA) has issued an investor warning against Zondacrypto, operated by BB Trade Estonia OÜ, for alleged non-compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulations. The regulator flagged the exchange’s failure to provide a white paper for its “TeamPL” token, a key requirement under MiCA Article 9.

    The FSA stated that crypto issuers are obligated to maintain a white paper on their website for as long as the tokens remain publicly traded. Zondacrypto has yet to publicly respond to the warning.

    Withdrawal Crisis and Missing Funds

    The warning comes at a turbulent time for Zondacrypto, which is already under scrutiny over unresolved withdrawal issues. In April, CEO Przemysław Kral revealed that the exchange could not access a cold wallet containing approximately 4,500 Bitcoin (worth $360 million at the time). Kral blamed the issue on the company’s founder and former CEO, Sylwester Suszek, who has been missing since 2022 and allegedly never handed over the private keys.

    Kral has denied insolvency rumors, insisting that Zondacrypto will fulfill all customer obligations. However, these assurances have not quelled concerns among users, particularly as Polish authorities opened an investigation into the exchange last month following multiple complaints about frozen withdrawals.

    CEO’s Silence and Speculation

    Adding to the uncertainty, Kral has gone silent on social media, with his last post dated April 16, 2026. Reports from Polish media suggest Kral may have fled to Israel, where he holds citizenship, amid the ongoing legal probe.

    In prior statements, Kral argued that Poland’s lack of alignment with MiCA regulations pushed the company to operate outside its home country. Despite its Polish origins, Zondacrypto has positioned itself as an international player, but recent events highlight the regulatory and operational risks associated with such a strategy.

    Regulatory Pressure Mounting

    The investor warning from Estonia’s FSA underscores the growing enforcement of MiCA standards across the EU. Smaller firms like Zondacrypto, which have historically operated in regulatory gray areas, are finding it increasingly challenging to navigate the stricter compliance environment.

    For Zondacrypto, the combination of regulatory scrutiny, unresolved wallet access issues, and customer withdrawal problems poses a critical test of its ability to regain user trust and ensure operational transparency. Whether the exchange can address these challenges remains to be seen.

    More developments are expected as the Estonian and Polish investigations progress.

    Image source: Shutterstock


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    Bitcoin Continues Its $80K Battle as US Jobs Data Smash Expectations Despite Iran

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    Bitcoin Continues Its K Battle as US Jobs Data Smash Expectations Despite Iran

    Bitcoin (BTC) struggled with an $80,000 reclaim at Friday’s Wall Street open as strong US jobs data added to headwinds.

    Key points:

    • Bitcoin crisscrosses $80,000 as US jobs data notionally reduces the odds of US interest-rate cuts.
    • US jobs vastly outpace expectations, adding almost twice the anticipated number of jobs in April.
    • Traders avoid giving up on the local uptrend, seeing a “healthy” support retest.

    Bitcoin stays undecided on fate of $80,000

    Data from TradingView showed ongoing BTC price volatility as buyers and sellers sparked gyrations around the key $80,000 mark.

    BTC/USD one-hour chart. Source: Cointelegraph/TradingView

    US nonfarm payrolls revealed that the economy added far more jobs than expected in April, despite ongoing inflation pressure thanks to the Iran war.

    The Bureau of Labor Statistics reported 115,000 jobs — far beyond the expected 65,000.

    “The change in total nonfarm payroll employment for February was revised down by 23,000, from -133,000 to -156,000, and the change for March was revised up by 7,000, from +178,000 to +185,000,” an accompanying news release stated.

    “With these revisions, employment in February and March combined is 16,000 lower than previously reported.”

    US civilian unemployment rate. Source: BLS

    The unemployment rate remained unchanged at 4.3%.

    Bitcoin initially fell on the numbers, as outperformance implied less need for the Federal Reserve to relax financial policy.

    As Cointelegraph reported, the Fed made it clear at its latest meeting on interest rates that conditions were conducive to tightening, and that rate cuts were unlikely.

    The latest data from CME Group’s FedWatch Tool reflected market expectations of a potential rate hike at the Fed’s next meeting on June 17.

    Fed target rate probabilities for June 17 FOMC meeting (screenshot). Source: CME Group

    BTC price sees “healthy bullish backtest”

    Among traders, the mood was one of cautious optimism with acceptance that recent gains may not hold for long.

    Related: Bitcoin Bollinger Bands push key breakout as creator acts on positive signal

    “Retesting the highs from the previous consolidation,” Daan Crypto Trades summarized in his latest X analysis. 

    “Good bounce so far but this is a key level for the bulls to hold.”

    BTC/USDT perpetual contract 12-hour chart. Source: Daan Crypto Trades/X

    Trading account Cryptic Trades saw Bitcoin retesting its bull market support band, an area formed by two daily moving averages.

    “For now, this looks like a healthy bullish backtest before a continuation higher,” it wrote on the day.

    BTC/USD one-day chart. Source: Cryptic Trades/X

    Earlier, Cointelegraph noted signs that a local top could be in for BTC/USD, notably an “overbought” warning on the relative strength index indicator.

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    Kelp DAO Fallout Pushes Solv, DeFi Protocols Toward Chainlink

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    Kelp DAO Fallout Pushes Solv, DeFi Protocols Toward Chainlink

    Decentralized finance protocols are reevaluating their blockchain oracle providers’ security after the fallout from the $293 million Kelp DAO exploit last month. Several protocols have announced migrations to Chainlink infrastructure in recent days, citing security concerns around third-party oracle and bridge providers.

    On Thursday, Bitcoin DeFi platform Solv Protocol announced it would migrate to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and replace LayerZero bridges, citing an “extensive security review” concluding that CCIP provided the “strongest security assurances.” 

    A day earlier, liquidity protocol Tydro also said it was moving to Chainlink after its previous oracle provider, Chaos Labs, suffered an incident that prompted Tydro to pause markets over concerns about inaccurate price feeds.

    The migrations come after an April 18 exploit in which attackers drained 116,500 Kelp DAO restaked ETH (rsETH) tokens worth between $290 million and $293 million. Following the exploit, Kelp DAO also migrated its rsETH token to Chainlink, moving away from its previous LayerZero-powered bridge after attributing the incident to weaknesses in its cross-chain setup.

    Source: Solv Protocol

    LayerZero, however, said on April 20 that the exploit resulted from a single point of failure in Kelp DAO’s implementation, which relied on a single LayerZero DVN as the only verified path despite prior warnings against that configuration.

    DeFi protocols review oracle security after Kelp exploit

    The Kelp DAO exploit triggered a “wake-up call” for DeFi providers, according to Zach Rynes, strategic initiatives lead at Chainlink Labs.

    Related: Aave liquidates Kelp DAO hacker’s rsETH positions on Ethereum, Arbitrum

    Rynes told Cointelegraph that DeFi teams conducting security reviews are increasingly deciding to replace older oracle and bridge systems with Chainlink infrastructure to strengthen baseline security protections, and multiple other DeFi protocols are discussing potential migrations to Chainlink following the exploit.

    Oracle providers with long operating histories and strong reliability are becoming increasingly important as hacks continue across the sector, Marcin Kazmierczak, co-founder of RedStone, the fourth-largest blockchain oracle provider, told Cointelegraph, adding that RedStone has also kept a “fully reliable track record.”

    Redstone was also contacted by Tydro as an emergency measure after the Chaos Labs oracle attack and provided support to help restore oracle feeds for the protocol.

    Source: Redstone

    Oracle consolidation raises new questions for DeFi

    Following the Kelp DAO exploit, only a smaller group of specialized providers may be able to meet the “demand and reliability requirements” created by growing institutional participation in DeFi, Kazmierczak said.

    “A smaller set of trusted oracles is forming in the market,” he said, adding that as capital concentrates around providers with proven track records, the risk of oracle-related exploits could decline.

    When asked about the risks of multiple DeFi protocols depending on fewer providers, Rynes said Chainlink’s infrastructure was designed to withstand extreme market conditions.

    He pointed to periods including the 2020 Covid market crash, the 2022 FTX collapse and major volatility events in 2025, saying Chainlink continued operating throughout those disruptions.

    Related: Arbitrum vote to release $71M in frozen Kelp exploit ETH set to pass

    Nik Kunkel, founder of Chronicle, the second-largest oracle provider, said that an overreliance on a single infrastructure provider will always present additional risks.

    “There are risks anytime a large portion of an ecosystem depends on a single piece of infrastructure,” Kunkel told Cointelegraph, adding that reducing those risks also requires data infrastructure to remain independently transparent and verifiable.

    Top Oracle providers by market share. Source: DefiLlama.com

    Chainlink remains the largest oracle provider with a 58% market share and more than $32 billion in value secured, according to DefiLlama. Chronicle ranks second with $7.6 billion in total value secured, while RedStone holds fourth place with $3.7 billion, representing a 6.7% market share.

    Magazine: 53 DeFi projects infiltrated, 50M NEO tokens could be ‘given back’: Asia Express

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    Mantle Tokenholders Back Aave Credit Facility After rsETH Exploit

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    Mantle Tokenholders Back Aave Credit Facility After rsETH Exploit

    Mantle tokenholders backed a proposal authorizing a credit facility of up to 30,000 Ether (ETH), worth about $68 million, for Aave DAO, advancing remediation tied to bad debt from the April rsETH exploit.

    The proposal, MIP-34, passed in a seven-day Snapshot vote that ended Friday, according to DAO governance platform Snapshot. The measure authorizes the Mantle Foundation to negotiate and execute definitive agreements with Aave DAO for a loan from the Mantle Treasury, though the facility remains subject to Aave implementing its recovery plan and the parties finalizing terms.

    The credit facility is intended to help address the impact of the rsETH incident on Aave V3. The proposal said the attacker deposited 89,567 unbacked rsETH on Aave and borrowed about $190 million in WETH, wstETH and stablecoins, creating potential bad debt estimated at between $123.7 million and $230.1 million.

    The vote comes as the fallout from the rsETH exploit has moved beyond the initial liquidity shock into a broader remediation phase, with Mantle positioning its treasury as a backstop while Aave works to address bad debt and restore confidence in its lending markets. 

    Source: Aave

    Aave WETH market cools after post-exploit squeeze 

    The Mantle credit facility would address the shortfall that also created liquidity stress across Aave’s lending markets.

    Galaxy Research said in a Thursday report that the rsETH exploit pushed Aave’s Wrapped Ether (WETH) market into a prolonged squeeze, with WETH utilization staying above 99% for 12.7 days after the incident. 

    “Across the full analysis horizon, WETH utilization stayed structurally elevated and close to the 100% ceiling, with an average around 99.6% and only easing to about 98.47% by the end of the snapshot period,” Galaxy said. 

    Related: Aave asks Arbitrum to send 30K ETH from Kelp exploiter to ‘DeFi United’

    High utilization means most of the supplied asset has already been borrowed, leaving little idle liquidity available for immediate withdrawals. In Aave’s case, Galaxy said the WETH market remained strained because supply contracted faster than borrows declined, keeping utilization near full capacity even after the initial shock. 

    30-day WETH utilization rate chart. Source: Aavescan

    The market has since cooled from the near-100% levels described in Galaxy’s analysis. Aavescan data showed Aave’s Ethereum V3 WETH market at about 91.6% utilization on Friday, with roughly 2.02 million WETH supplied and 1.85 million WETH borrowed. 

    Magazine: North Korea denies crypto hacks, Upbit’s bank tests Ripple: Asia Express

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    Monero: Deep Dive

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    Monero: Deep Dive


    Monero (XMR) is an open-source, privacy-oriented cryptocurrency launched in 2014 that focuses on censorship resistance and fungibility. (Read More)

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    AAVE Price Prediction: $100 Target Within 30 Days Despite Near-Term Bearish Pressure

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    AAVE Price Prediction: 0 Target Within 30 Days Despite Near-Term Bearish Pressure


    Rongchai Wang
    May 08, 2026 08:43

    AAVE’s current consolidation at $92.70 sets up a decisive breakout toward $100-105 range by early June, though immediate downside risk to $89 remains elevated with aggressive selling pressure domin…

    The Immediate Setup

    AAVE is grinding sideways in a tight range, trapped between the 20-day moving average at $93.47 acting as overhead resistance and the lower Bollinger Band at $89.84 providing crucial support. The token’s current position at $92.70 represents a critical inflection point where momentum indicators are flashing mixed signals. With RSI sitting at 44.68 in neutral territory and MACD histogram flatlining at zero, buyers are clearly hesitant to commit while sellers haven’t gained full control either.

    The derivatives market tells a more nuanced story – while retail traders maintain a slight long bias at 54.1%, aggressive selling pressure dominates with taker sell volume outpacing buys by a significant margin (0.65 ratio). This disconnect suggests institutional players are methodically distributing positions while retail remains optimistic, a pattern Blockchain.news has observed during previous AAVE consolidation phases.

    Key Levels Exposed

    AAVE’s technical structure reveals a compressed trading range with immediate resistance at $94.15 coinciding with yesterday’s intraday high of $94.31. The more significant barrier sits at $95.61, where the upper Bollinger Band and 50-period moving average convergence creates a formidable wall. Breaking above this level would signal the start of a meaningful rally toward the $100-105 zone.

    Downside protection remains thin, with immediate support at $91.47 already tested during this morning’s session. The critical floor sits at $90.25, representing the confluence of the lower Bollinger Band and recent swing lows. A breach below this level would likely trigger algorithmic selling and push AAVE toward the $85-87 range, invalidating the bullish thesis entirely.

    Sentiment vs Reality

    The analyst community remains cautiously optimistic despite recent price weakness. CoinCodex projects AAVE reaching $112.44 by year-end, representing a 21% upside from current levels, while CoinDataFlow targets a more conservative $101.48 for 2026. These forecasts align with the protocol’s strong fundamentals, but they’re bumping against harsh market realities.

    Smart money positioning tells a different story – top traders maintain a 61% long bias, suggesting institutional confidence in AAVE’s medium-term prospects. However, the persistent selling pressure in spot markets indicates distribution is ongoing. This creates an opportunity for patient traders willing to accumulate during weakness, as Blockchain.news analysis suggests institutional accumulation often precedes major breakouts in DeFi tokens.

    Actionable Trade Strategy

    The setup favors a patient accumulation strategy with tight risk management. Primary entry zone sits between $91.50-$92.50, with additional buying opportunities on any dip toward $90.00. Stop-loss should be placed below $89.50 to limit downside exposure if the support complex fails.

    Target the $97.00-$100.00 range for initial profit-taking, representing a 5-8% gain from current levels. The more ambitious $105.00 target remains viable if AAVE breaks above $95.61 with volume confirmation. Risk-reward favors the bulls here, but timing is crucial given the current momentum vacuum.

    Position sizing should remain conservative given the elevated volatility (ATR at $3.33), and traders should monitor the funding rate closely – any shift toward negative territory would signal growing bearish sentiment in derivatives markets. The 30-day window provides sufficient time for the technical setup to resolve, with Blockchain.news expecting clarity by early June as broader crypto markets establish their summer trend.

    Blockchain.news Crypto Market

    Image source: Shutterstock


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    HarrisX Poll Found 52% of Registered Voters Support the CLARITY Act

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    HarrisX Poll Found 52% of Registered Voters Support the CLARITY Act

    Nearly half of US voters are willing to cross party lines to get clear crypto regulation off the ground, while public support for the CLARITY Act could bring an electoral benefit for politicians, according to a new survey from HarrisX.

    The poll included responses from 2,008 registered voters from May 1-4. It found that 52% of respondents support the CLARITY Act, with just 11% opposed. 

    About half, or 47%, said they would consider voting for a candidate outside their preferred party if that candidate backed the bill and their own party did not. Among crypto users, that number jumped to 72%.

    “Passing the CLARITY Act is a bipartisan, winning issue,” Coinbase CEO Brian Armstrong said on X on Thursday. Robinhood CEO Vlad Tenev added: “There’s real momentum now to finally get CLARITY across the finish line. One more small push and we establish the legislative foundation to ensure American dominance in digital finance.”

    Source: HarrisX

    The crypto industry has been waiting for the CLARITY Act to move through the US legislative process. It is expected to provide long-awaited regulatory clarity for crypto and could help the country become a major hub for crypto and digital finance.

    The HarrisX poll also highlighted strong bipartisan support for the bill, with 55% of Democrats, 58% of Republicans and 42% of independents supporting it. Public support for the bill could also give senators a 20-point electoral advantage, it said

    Related: Bitmine’s Tom Lee says ‘crypto spring’ has already begun

    Some predict the CLARITY Act will receive additional markups as soon as next week.

    Speaking at the Consensus 2026 crypto industry conference in Miami on Wednesday, Coinbase’s vice president of US policy, Kara Calvert, said her “prediction is that we have a markup next week” from the Senate Banking Committee.

    Calvert stressed that bipartisan support will get the bill across the line, saying it needs at least 60 votes to pass the Senate, but she is unsure how things will unfold in the coming days.

    “That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?”

    The timeline for a vote may still be months away, however. US Sen. Kirsten Gillibrand recently suggested additional markups are required before the bill can progress, predicting a Senate vote in August.

    Magazine: Guide to the top and emerging global crypto hubs — Mid-2026 

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    What is Account Abstraction (ERC-4337)?

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    What is Account Abstraction (ERC-4337)?

    Account Abstraction is a technical upgrade that converts traditional crypto wallets into programmable smart contracts. By implementing the ERC-4337 standard, the blockchain can treat user accounts like intelligent software rather than simple private key pairs, significantly simplifying the user experience.

     

    The Problem with Traditional Wallets

    Currently, most users interact with the blockchain through Externally Owned Accounts (EOAs), such as a standard MetaMask wallet. These accounts are controlled by a single private key. If you lose your seed phrase, you lose your funds forever. Furthermore, every action requires the user to hold the network’s native token (like ETH) to pay for “gas” fees, which is a major barrier for beginners.

    How Account Abstraction Changes the Game

    Account Abstraction “abstracts” the account away from the private key. Instead of a simple address, your wallet becomes a Smart Account. This allows for several “bank-like” features that were previously impossible on-chain:

    1. Social Recovery: You can designate “guardians” (friends or other devices) to help you regain access to your wallet if you lose your credentials, eliminating the stress of managing a 24-word seed phrase.

    2. Gas Flexibility (Paymasters): Users can pay for transaction fees using stablecoins (like USDC) instead of the native network token. In some cases, decentralized apps (dApps) can even “sponsor” the gas, making the transaction free for the user.

    3. Transaction Bundling: Instead of signing multiple individual permissions to swap a token or provide liquidity, Account Abstraction allows you to bundle several actions into a single click.

    ERC-4337: The Standard for Everyone

    ERC-4337 is the specific standard that brought these features to Ethereum and its compatible layers without requiring a fundamental change to the underlying blockchain code. It uses a separate “mempool” where user operations are gathered and processed by “Bundlers,” making the transition to smart accounts seamless for the entire ecosystem.

    FAQ

    1. Does Account Abstraction make my wallet less secure? On the contrary, it can enhance security. Because the wallet is programmable, you can set “security rules,” such as daily spending limits or requiring multi-signature approval for transfers to unknown addresses.

    2. Can I use Account Abstraction on my current MetaMask? Standard EOAs like your current MetaMask do not natively support all account abstraction features yet. However, many new “Smart Contract Wallets” are being built specifically to leverage ERC-4337, and existing providers are working on integrating these capabilities.

    3. What is a “Paymaster” in ERC-4337? A Paymaster is a specialized smart contract that handles the payment of gas fees. It allows developers to subsidize user fees or enables users to pay for gas using any supported ERC-20 token rather than being forced to use the chain’s native currency.

    Image source: Shutterstock

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    Polygon Reduces Block Production Time to 1.75 Seconds

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    Polygon Reduces Block Production Time to 1.75 Seconds

    Blockchain layer-2 (L2) network Polygon reduced its average block time by 250 milliseconds to 1.75 seconds, marking its first block-time reduction since genesis as the network pushes deeper into stablecoin payments and settlement infrastructure.

    Polygonscan shows that the latest blocks on the network were created in 1.75 seconds. The upgrade means that Polygon can process around 14% more payments per second, reaching a maximum theoretical throughput of about 3,260 transactions per second (TPS), according to Polygon software engineer Lucca Martins.

    Shorter block times can help transaction backlogs clear faster, reducing the duration of network congestion and subsequent transaction fee spikes, which is particularly important for high-frequency use cases such as payments, stablecoins or decentralized finance (DeFi) trading.

    The upgrade comes as Polygon makes efforts to position itself for use cases targeting more institutional adoption, such as private stablecoin payments. On Tuesday, Polygon introduced a new wallet feature that enables users to privately route stablecoin transactions through a shielded pool verified by zero-knowledge proofs.

    The upgrade is part of the Polygon Improvement Proposal PIP-86, a two-step motion that seeks to further reduce block time to 1.5 seconds and scale down checkpoint rewards to maintain the Polygon (POL) token emissions at the target 1% after the block time reduction. 

    Polygon blockchain explore, latest blocks, production time. Source: Polygonscan

    Cointelegraph reached out to Polygon for comment on its block time reduction plans, but had not received a response by publication.

    Related: Morgan Stanley takes on crypto trading rivals with E*Trade pilot

    Polygon targets private stablecoin payments to onboard institutions

    Polygon’s new wallet feature is part of an aim to onboard more institutional users as it hides senders, receivers and amounts onchain while maintaining compliance through Know Your Transaction (KYT) screening and auditable files.

    The feature introduces more privacy for businesses transacting with stablecoins, according to Polygon community lead Smokey. 

    Despite the upgrade, Polygon’s (POL) token remained stagnant over the past 24 hours and traded at $0.09 at the time of writing. The token is down 54% over the past year, CoinMarketCap data shows.

    POL/USD, one-year chart. Source: CoinMarketCap

    Polygon has also integrated with large credit card providers. On April 29, global payments giant Visa expanded its stablecoin pilot to include support for Polygon Base, the Canton Network, Arc and Tempo.

    Launched by Visa in 2023, the pilot allows partners to settle transactions through stablecoins rather than traditional banking rails, to evaluate whether stablecoins can offer faster settlement.

    Magazine: Will the CLARITY Act be good — or bad — for DeFi?

    Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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    Core Scientific Q1 Loss Hits $347M As Mining Revenue Falls

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    Core Scientific Q1 Loss Hits 7M As Mining Revenue Falls

    Core Scientific (CORZ) reported a $347.2 million first-quarter net loss as its Bitcoin self-mining revenue fell sharply and high-density colocation became its largest revenue source. 

    In its earnings report published Wednesday, the company reported a net loss of $1.06 per diluted share for the quarter. A year earlier, Core Scientific reported diluted earnings of $1.24 per share.

    Core Scientific said the loss included $266.5 million in non-cash impairment charges and a $30.8 million non-cash loss from changes in the fair value of warrants and contingent value rights.

    Revenue rose to $115.2 million from $79.5 million a year earlier, but fell short of analyst expectations. Zacks Equity Research said analysts expected $120.2 million in revenue, with Core Scientific’s results coming in about 4.1% below expectations.

    The results show Core Scientific’s transition from a Bitcoin miner into an AI infrastructure company, with high-density colocation now generating most of its revenue. The shift gives the company a larger business, but it also highlights how its legacy mining operations have weakened.

    Bitcoin mining revenue falls

    Core Scientific’s digital asset self-mining revenue fell to $30.1 million from $67.2 million a year earlier, with the company mining 279 Bitcoin (BTC) during the quarter, down 45% from the same period in 2025. According to its 10-Q filing, Core Scientific sold 2,385 Bitcoin during the quarter for $208.3 million to fund planned capital expenditures and other cash needs.

    Core Scientific’s six-month price chart. Source: Yahoo Finance

    Despite the weaker mining results, Core Scientific’s shares have gained over the past six months. Yahoo Finance data shows CORZ closed at $24.63 on Wednesday, up about 19.6% over six months, before falling 7.43% to $22.80 in pre-market trading at the time of writing.

    In a separate announcement, Core Scientific said it plans to scale its Muskogee, Oklahoma, campus to about 1.5 gigawatts of gross power, or about 1.0 gigawatt of leasable power, partly through the planned acquisition of Polaris DS. The company has also started construction on a second, unleased 82.5-megawatt building at the campus.

    Related: Trump-linked American Bitcoin reports $82M Q1 loss, revenue miss

    Core Scientific expands AI-linked colocation business 

    Core Scientific’s first-quarter growth came from high-density colocation rather than Bitcoin production, with the company’s mining revenue and Bitcoin output falling while its AI-linked hosting business generated most of its revenue.

    The company said its colocation revenue rose to $77.5 million in the first quarter from $8.6 million a year earlier, driven by additional billable customer power capacity delivered during the quarter.

    The company said it was billing for 243 megawatts of capacity as of March 31, representing about $350 million in average annualized colocation revenue.

    The revenue shift follows a series of hosting agreements with CoreWeave. In June 2024, Core Scientific said it signed 12-year contracts to deliver about 200 megawatts of infrastructure to host CoreWeave’s high-performance computing operations. 

    The companies later expanded the relationship. In an SEC filing in February 2025, the companies said CoreWeave’s total contracted high-performance computing infrastructure with Core Scientific had increased to about 590 megawatts across six sites.

    Magazine: Guide to the top and emerging global crypto hubs: Mid-2026

    Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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