This week, Galaxy Digital walked away from Bitcoin Mining and signed a $4.5B AI compute deal. This might reshape the entire crypto cycle

Then: One of the top 20 chains, collapsed 90%. And it's a disgrace for the entire industry.

This wasn’t some obscure rugpull or sketchy project no one’s heard of. Mantra was one of the most hyped RWA projects in the space, legitimized by major platforms (incl. Cointelegraph & Paris Blockchain Week) because they threw money at them. No clear answers on what happened.

Let’s be clear: With events like this, the industry is failing itself. Stand up, speak up. We must do better. It's time to clean the house.

This week’s question:

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📚 Our Top Reads

  • Stablecoins: Payments Without Intermediaries. Chris Dixon. Link

  • Google's AI Agent Bombshell. 51x. Link

  • Google’s Agent-to-Agent protocol vs Anthropics MPC. Link

  • The Crypto Pivot to AI. DCD. Link

  • The State of Crypto Lending. Galaxy. Link 

  • Tokenization of currencies and assets [Paper]. Link

  • The Future of Ticketing: How Blockchain is Unlocking New Revenue and Engagement [Podcast]. 51. Link

  • Spending on AI Training Infrastructure. Dell’Oro Group. Link

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Is Bitcoin Mining Dead?

Galaxy Digital just walked away from Bitcoin mining and signed a $4.5B, 15-year deal with CoreWeave to use its flagship datacenter "Helios" in Texas for AI infrastructure.