Bitcoin’s Bold Leap: ProCap’s $1B SPAC Deal to Create Largest Public Bitcoin Treasury

In a landmark move for the cryptocurrency industry, Anthony Pompliano's ProCap BTC is set to go public through a $1 billion SPAC merger with Columbus Circle Capital Corp. This deal not only marks a significant milestone for ProCap Financial, Inc. but also establishes one of the largest Bitcoin treasuries ever to be listed on public markets. With $550 million raised in preferred equity and an additional $225 million in convertible notes, the transaction offers future shareholders direct exposure to Bitcoin, further bridging the gap between traditional finance and the digital asset ecosystem. As of August 2025, this development underscores the growing institutional adoption of Bitcoin and its evolving role in global finance.

Anthony Pompliano’s ProCap to Go Public in $1B Bitcoin Treasury SPAC Deal

Anthony Pompliano is taking his bitcoin-native financial platform ProCap BTC public through a $1 billion merger with Columbus Circle Capital Corp. The transaction positions ProCap Financial, Inc. as one of the largest Bitcoin treasuries ever to hit public markets.

ProCap raised $550 million in preferred equity and secured $225 million in convertible notes, offering future shareholders immediate exposure to bitcoin. The merger values the combined entity at up to $1 billion, depending on the final bitcoin price.

Led by Pompliano, a vocal bitcoin advocate, ProCap aims to bridge digital assets and traditional finance. The company plans to generate profit by holding BTC and deploying its balance sheet across yield-generating strategies.

"The legacy financial system is being disrupted by bitcoin," Pompliano said. "ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors."

5G Chipmaker Sequans Adopts Bitcoin Treasury Strategy, Partners with Swan Bitcoin

Sequans Communications (NYSE:SQNS), a leading 5G chipmaker, has unveiled plans to raise $384 million for a Bitcoin treasury initiative. The telecom firm will issue $195 million in equity securities and $189 million in convertible debentures to fund its crypto strategy.

"Bitcoin represents a premier asset class with compelling long-term value," said CEO Georges Karam, echoing growing corporate sentiment toward crypto reserves. The company has enlisted Swan Bitcoin, a specialized U.S. financial services firm, to execute its treasury allocation.

SQNS shares surged 14% in pre-market trading to $2.21 following the announcement. This MOVE aligns with a broader trend of public companies across healthcare, mining, and media sectors accumulating Bitcoin on their balance sheets.

Bitcoin currently trades around $101,000, recovering modestly from weekend volatility triggered by geopolitical tensions. The asset continues to demonstrate resilience as institutional adoption accelerates.

Norway Plans Temporary Ban on New Crypto Mining Data Centers to Preserve Power

Norway's Labour Party government is moving to impose a temporary ban on new cryptocurrency mining data centers that use energy-intensive proof-of-work systems. The proposed regulation, which could take effect as early as Autumn 2025, aims to redirect electricity capacity toward more productive industries.

"Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community," said Minister for Digitalization Karianne Tung. The decision reflects Oslo's broader strategy to limit crypto mining operations despite Norway's abundant renewable hydropower resources.

Bitcoin miners have long been attracted to Norway's low-cost, clean energy. Companies like Kryptovault have established sizable operations NEAR Oslo, with some data centers consuming up to 40 MW of power. These facilities often repurpose excess heat for industrial applications, but regulators increasingly view such energy demands as incompatible with national priorities.

The policy shift underscores growing global tension between cryptocurrency mining and power grid management. As AI data centers and traditional manufacturing compete for resources, proof-of-work crypto operations face mounting regulatory scrutiny worldwide.

MicroStrategy Bolsters Bitcoin Holdings with $26 Million Purchase Amid Market Volatility

MicroStrategy (MSTR) has acquired an additional 245 Bitcoin for $26 million, expanding its corporate treasury holdings to 592,345 BTC valued at approximately $60 billion. The purchase was executed at an average price of $70,681 per Bitcoin, funded through proceeds from its ATM equity offering program.

Despite the accumulation, MSTR shares dipped 2.1% in premarket trading as Bitcoin prices remain pressured by geopolitical tensions following weekend strikes in Iran. Traditional markets have largely absorbed the news without significant disruption.

Canaan Inc. Shifts Focus Back to Crypto Mining, Exits AI Semiconductor Business

Canaan Inc. (NASDAQ: CAN) is doubling down on its Core cryptocurrency ventures, announcing the discontinuation of its AI semiconductor division. The strategic pivot aims to streamline operations and sharpen focus on Bitcoin mining hardware, self-mining, and consumer-facing products.

The move follows a 2024 performance review where AI-related revenue accounted for just $0.9 million while consuming 15% of operating costs. Market observers view this as a bullish signal for Canaan's commitment to blockchain infrastructure at a time when mining profitability shows renewed potential.

Since March 2022, the company has gradually reallocated resources toward crypto-related R&D. This latest decision eliminates a non-core business segment that initially aimed to diversify into edge computing ASICs but ultimately proved distracting from Canaan's CORE competencies.

Bitcoin's Technical Rejection at $108,900 Was Predicted by Chart Analysis

Bitcoin's recent price plunge from the $108,900 resistance level was no surprise to technical analysts. The rejection played out exactly as forecast, with the zone acting as a confluence of bearish indicators—including the 0.618 Fibonacci retracement, a swing high, and a value area high. This level had been flagged in prior analysis as a make-or-break point for BTC's near-term trajectory.

The drop followed a textbook liquidity sweep, with weekend lows attracting price action before a sharp reversal. A CME futures gap at $103,700 further exacerbated the move, though this was a structural artifact rather than organic market activity. Chartists had warned that failure to break resistance with conviction WOULD invite downside—a scenario now unfolding with precision.