North Carolina Pioneers State-Backed Bitcoin Reserve with Digital Assets Investment Act
North Carolina’s House of Representatives has passed the Digital Assets Investment Act (House Bill 92), marking a historic move toward creating the first state-backed Bitcoin reserve in the U.S. The bill, introduced by Republican House Speaker Destin Hall, secured a 71-44 vote on April 30, 2025, and now advances to the Senate. This legislation represents a cautious yet progressive approach to Bitcoin adoption, potentially setting a precedent for other states to follow. The development underscores growing institutional interest in Bitcoin as a reserve asset, which could further legitimize cryptocurrencies in traditional finance. As of May 2025, this initiative positions North Carolina at the forefront of blockchain innovation in public sector finance.
North Carolina Advances Legislation for State-Backed Bitcoin Reserve
North Carolina’s House of Representatives has taken a significant step toward establishing the first state-backed Bitcoin reserve in the U.S. The Digital Assets Investment Act (House Bill 92), introduced by Republican House Speaker Destin Hall, cleared its third reading with a 71-44 vote on April 30. The bill now moves to the Senate for further consideration.
The legislation proposes a measured approach to Bitcoin exposure, prohibiting direct purchases but allowing investments through regulated exchange-traded products (ETPs). This cautious framework could set a national precedent for institutional cryptocurrency adoption.
Bitcoin Miner Revenues Hit Critical Levels Post-Halving as Fee Income Dwindles
Bitcoin mining economics face mounting pressure as revenues compress sharply following the April 2024 halving event. Transaction fees now contribute a mere 1.48% of block rewards—hovering NEAR their lowest share since 2023—forcing miners to rely heavily on diminished subsidy income of 3.125 BTC per block.
The hashprice stagnation at $48.9 per PH/s/day reveals a troubling disconnect from Bitcoin’s $95,000 spot price. Mining rigs consuming 25-38 J/TH operate at a loss, generating just $0.06 per kWh against typical grid costs of $0.08. Temporary fee spikes from Ordinals and Runes activity failed to offset the structural revenue decline.
Malaysia Dismantles Bitcoin Mining Syndicate Involved in $8,000 Monthly Power Theft
Malaysian authorities have cracked down on a Bitcoin mining operation accused of stealing electricity worth approximately $8,000 monthly. The syndicate, operating in Hulu Terengganu and Marang districts, utilized 45 mining machines across residential and commercial properties.
Terengganu police chief Datuk Mohd Khairi Khairuddin confirmed the raids uncovered meter bypassing modifications designed to evade detection. State utility Tenaga Nasional Berhad estimates losses at RM36,000 ($7,700) per month from the illicit operation.
Grayscale Launches BCOR ETF to Track Bitcoin-Holding Companies
Grayscale Investments has expanded its cryptocurrency product suite with the launch of the Bitcoin Adopters ETF (BCOR), designed to track publicly traded companies holding significant Bitcoin reserves. The fund targets firms with at least 100 BTC on their balance sheets and a market capitalization exceeding $100 million.
The ETF mirrors the Indxx Bitcoin Adopters Index, comprising 33 companies across 15 industries. This move signals growing institutional interest in Bitcoin-centric equity exposure, bypassing direct cryptocurrency ownership while maintaining correlated market participation.
Grayscale’s strategic expansion comes as traditional finance increasingly recognizes Bitcoin’s role as a corporate treasury asset. The BCOR ETF provides investors with a regulated vehicle to gain secondary exposure to Bitcoin’s price movements through established public companies.
Trump-Linked NexusOne Launches to Shape U.S. Crypto and AI Policy
A new government relations firm, NexusOne Consulting, has launched in Washington, D.C., with a focus on influencing U.S. policy for cryptocurrency and artificial intelligence sectors. The firm is led by Jeff Ifrah, a white-collar defense attorney; Jim Trusty, a former government lawyer who represented the Trump administration; and Ross Branson, a Commerce Department official during Trump’s first term.
"There’s a once-in-a-generation opportunity to shape the future of tech policy," Ifrah said. The firm aims to ensure innovators actively influence policy rather than merely react to it. This development aligns with former President Donald Trump’s recent pro-crypto stance, including plans to establish a strategic Bitcoin reserve and position the U.S. as the "crypto capital of the world."
The Double-Edged Sword of Cryptocurrency: Risk and Reward
Cryptocurrencies continue to captivate investors with their potential for outsized returns, yet the landscape remains fraught with volatility and uncertainty. Bitcoin’s meteoric rises and precipitous falls exemplify the market’s dual nature—offering life-changing gains while demanding unwavering discipline.
Security breaches, regulatory shifts, and technical complexities pose existential threats to digital asset holders. The irreversible loss of cryptographic keys serves as a stark reminder: self-custody is both a privilege and a profound responsibility.
Seasoned participants navigate these waters through rigorous diversification, relentless market monitoring, and measured position sizing. The space rewards neither reckless speculation nor timid hesitation—success demands the precision of a tightrope walker balancing risk against potential reward.
As blockchain technology redefines global finance, cryptocurrencies emerge as the defining wealth-creation vehicle of our digital epoch. But this revolution exacts a price: mastery requires not just capital, but technical fluency and operational vigilance.
