Coolpad, a Chinese telecom giant, is entering the world of Bitcoin mining. Quite an unexpected move for a company that is known for cheap mobile phones and accessories. Anyway, Coolpad has just announced it will acquire 2,700 Bitcoin mining servers from Hong Kong-based JingYun Intelligent Technology. That's up to 1,504,800 TH/s of mining capacity. Coolpad is spending $13.5 million for this purchase. The rigs will be installed in a yet undisclosed locations in North America. That's pretty understandable, as Bitcoin mining is prohibited in China. The Shenzhen-based company has already made some moves into crypto space. In May, Coolpad announced a $28 million investment plan to purchase shares in some crypto asset companies, including CleanSpark, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, and Hashdex Bitcoin Futures ETF. Coolpad isn't the only telecom company to enter Bitcoin mining recently. T-Mobile Deutsche Telekom will start mining Bitcoin this year. German company has been operating a Bitcoin node since 2023. This year the company launched its own Bitcoin Lightning Network nodes. And now the bigger anouncement was unveiled. Speaking at BTC Prague, Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, confirmed that the communications giant will start mining Bitcoin.

Hashdex has filed for a combined spot Bitcoin and Ethereum ETF in the United States. If approved, this might be a revolutionary tool to promote cryptocurrencies into financial world. Building on recent SEC crypto fund approvals, crypto asset management firm Hashdex wants to make a major step nobody has foreseen. We now have Bitcoin ETFs, we will soon have Ethereum ETFs. But joint ETFs that directly hold both of the leading cryptocurrencies will be a major shift. According to the filing submitted to Nasdaq, the ETF will include cash holdings, with Coinbase Custody and BitGo designated as custodians. Interestingly, the fund would primarily hold Bitcoin (70.54%) and Ethereum (29.46%), mirroring the relative weightings of these two dominant cryptocurrencies on the market. It is also noted that the index could potentially incorporate additional crypto assets in the future. To be included, the asset would need to meet specific criteria, for instance, to be listed on a U.S.-regulated platform or serving as the underlying asset for a derivative instrument on such a venue. As we all remember, Bitcoin ETFs were approved by SEC in January. That resulted in a significantly fast surge, followed by halving, which also helped BTC gain bullish momentum. As for Ethereum ETFs, SEC's Gary Gensler said the that he anticipates that they will begin trading this summer. Hashdex's previous efforts to transition its Bitcoin futures ETF to one holding physical BTC directly went south. The company was unable to secure approval before its competitors' launch in January.

Bitcoin whales accumulation reaches 2-year high. At the moment, we have a previously unseen number of wallets holding 10 or more BTC. Whales are one of the most important indicator of whether the market is bullish or bearish. Some negative sentiment in the last weeks could suggest the bullish momentum has vanished. But if we take a look at the whales accumulation, this seems kind of funny. Largest Bitcoin investors keep accumulating as if there were no price volatility. The number of wallets containing 10 or more of the flagship coin has reached a record high. According to blockchain analytics firm Santiment, the number of these significant holdings has peaked at a level not seen since 2022. On-chain data shows that the number of wallets with 10 or more BTC now controls an astounding 82% of supply. This a clear indication that BTC has solid foundational support going forward, which is consistent with the general optimism in the market. There has been a clear correlation between the total market value of Bitcoin and the wallets holding more than 10 BTC, analysts say. Whales accumulation of the flagship coin can be an indication of optimism. And optimism, as we all know, very often leads to additional price growth. It's worth mentioning that some analysts thinks whale movement is overrated and can't be perceived as reliable indicator of market trends. They claim these data is sometimes noisy and essentially act as social media engagement bait.

Bitcoin network hashrate always declined in summer time. This year it might get even worse. Summer heatwaves can have a deep impact on Bitcoin mining. Miners have to deal with the excessive heat throughout whole year, but with global warming becoming more prominent the problem gets pretty serious. Halving that occurred earlier this year has already made its impact on miners. With their profits cut twice miners see much less profit in maintaining network's functionality. Miners have to be looking for more contemporary, energy efficient equipment. Hashrate needs to be raising all the time. Heatwaves might be a specifically harsh problem this year. As we all know, miners use extremely powerful machines (ASICs) that give off a lot of heat as a result of their computations. They can reach very high temperatures without proper cooling measures in place. So, to ensure their ASICs are safe, miners might have to resort to turning them off periodically to let them cool down. Energy consumers around them will be turning their air conditioning more frequently and that additional demand might hurt miners also. 37% of all world mining operations are located in the U.S. Most part of it - in steamy Texas. That might reflect on hashrate and create "jams" in blockchain network traffic. Faster Bitcoin transaction will require higher mining fees. Some analysts note that the hashrate has already started to come down since reaching an all-time high in March. In June it is 10% lower than it was a month earlier.

El Salvador is about to launch a new kind of Bitcoin banks. These institutions will will offer Bitcoin investors access to financial services and fewer restrictions compared to traditional banks. Pro-Bitcoin president Nayib Bukele announced the project of BPI (Bank for Private Investment). The new kind of banks will offer financing options to potential investors in U.S. Dollars and Bitcoin. BPI will have a slightly different regulation than traditional banks have. Such restrictions as engaging with overseas banks or finance companies "linked to their shareholders or in a business group" or loan restrictions will be eliminated. Also BPIs will also not be subject to the prohibition of "granting credit or assuming risks for more than 25% of their Asset Fund in relation to the same person.” A minimum share capital for a BPI would be $50 million. Having at least two shareholders is a must. The announcement comes only two weeks after Bukele was sworn in for another five-year presidential term after winning the elections in February. “President Bukele hits the ground running in new term with new legislation establishing a Bitcoin Bank,” senior Bitcoin advisor to Bukele, Max Keiser, said in his X post. Keiser also noted that Ark Invest CEO Cathie Wood’s forecast that El Salvador’s real GDP “could scale 10-fold during the next five years” has only become “more likely.” BPIs have yet to be approved by El Salvador legislators. If that happens, the small country will once again prove to be the real giant of the crypto world.