Hyperscale Data unveils a $100 million Bitcoin reserve strategy while linking it to AI data center growth.
Pi Network’s v23 upgrade aims to boost scalability, while Galaxy Digital expands Solana exposure with $283 million in new buys.
SEC softens its approach to enforcement as Ethereum stablecoin supply surges to $166 billion, reinforcing its DeFi dominance.
The cryptocurrency market remains dynamic as corporations, regulators, and blockchain projects unveil major updates. From Hyperscale Data’s $100 million Bitcoin reserve strategy to Ethereum’s record-breaking stablecoin supply, here’s a breakdown of today’s biggest crypto stories.
Tech infrastructure firm Hyperscale Data announced it will adopt Bitcoin as its primary corporate reserve asset, unveiling a $100 million treasury allocation. The plan will be partially funded by selling Montana data center assets and raising fresh equity financing.
The move echoes earlier strategies from firms like MicroStrategy, but with a twist: Hyperscale Data is directly linking its Bitcoin reserve strategy to data center expansion.
The company intends to accelerate the expansion of its Michigan AI data center, increasing capacity to 70 MW within 20 months, with the potential to reach 340 MW in the future.
Also Read: Bitcoin Price Today Near $116,000 as Market Consolidates Gains
The Pi Network is preparing for its most important upgrade yet. Version 23 of its blockchain protocol will accelerate throughput, enhance the resiliency of the consensus mechanism, and increase compatibility with other external blockchain projects.
This update would indicate Pi's significant transition from being viewed as an experimental project to a fully functioning decentralized ecosystem.
Developers emphasize that while ordinary users may not see instant changes, the improved stability and scalability will pave the way for apps, payment channels, and tokenized projects.
Behind the scenes, testnets are already running near-final versions, and account mapping, which links user balances from early phases to the live network, is nearly complete.
The Pi team has also aligned infrastructure with Stellar’s v23 protocol, a sign of interoperability with established blockchain platforms.
Momentum continues to grow outside development as well. Pi recently became a gold sponsor of TOKEN2049 Singapore, with co-founder Dr. Chengdiao Fan set to speak at the October conference. At the same time, the Pi ecosystem is branching into gaming and DeFi, exemplified by PiOnline, a farming-style game on the Pi Browser.
Crypto investment firm Galaxy Digital has doubled down on Solana, purchasing 1.2 million SOL worth $283.8 million in the last 24 hours. This brings its total five-day acquisition to 6.5 million SOL, worth about $1.53 billion.
Despite the aggressive buy, Galaxy Digital’s stock slipped 1.7% in pre-market trading, reflecting broader caution as SOL itself dropped more than 5% in the same period.
The firm’s strategy isn’t limited to token purchases. Earlier this month, Galaxy co-led a $1.65 billion private investment in Forward Industries to build a Solana-focused treasury, alongside Jump Crypto and Multicoin Capital. It also revealed plans to tokenize its own shares on the Solana blockchain, a first for a US-listed company.
Year-to-date, Galaxy Digital’s shares are still up over 70%, underlining investor confidence in its long-term crypto bets.
In a major policy shift, newly confirmed SEC Chair Paul Atkins said the regulator will give crypto firms advance notice of technical violations before launching enforcement actions.
This marks a clear departure from former SEC Chair Gary Gensler’s enforcement-heavy style, which included lawsuits against Ripple, Binance, Coinbase, and Kraken. Atkins criticized those actions as “not grounded in precedent,” saying the SEC had been “shooting first and asking questions later.”
He emphasized that most tokens do not qualify as securities and expressed support for tokenized versions of stocks and bonds carrying the same rights as their traditional counterparts.
The SEC has since formed a Crypto Task Force, dropped several ongoing investigations, and committed to six-month notice windows before enforcement begins. The shift has been welcomed by industry participants who long complained about regulatory uncertainty in the US.
Ethereum Stablecoins Reach $166 Billion
Ethereum solidified its role as the backbone of decentralized finance as its total stablecoin supply hit $166 billion, up from $149 billion a month ago.
USDT remains dominant with $87.8 billion issued on Ethereum.
USDC follows with $48 billion.
Experts suggest this milestone reflects deeper institutional adoption and a growing trust in Ethereum’s infrastructure. “Liquidity is now strong enough to absorb volatility and support the market during macro dips,” said Vincent Liu, CIO of Kronos Research.
Also Read: Ethereum Could Be Set for a Major Breakout: Here’s Why
1. Why did Hyperscale Data buy $100 million worth of Bitcoin?
To use Bitcoin as its corporate reserve asset and fund the expansion of its Michigan AI data center.
2. What is Pi Network’s Version 23 upgrade about?
It improves scalability, resilience, and interoperability, preparing the chain for full-scale mainnet deployment.
3. How much Solana did Galaxy Digital purchase?
Galaxy Digital acquired 1.2 million SOL in 24 hours, totaling 6.5 million SOL worth $1.53 billion over five days.
4. What changes has the SEC announced for crypto regulation?
Firms will now get preliminary notices before enforcement, shifting away from “enforcement-first” practices.
5. Why is Ethereum’s stablecoin supply milestone significant?
At $166 billion, it shows deeper institutional adoption and liquidity, reinforcing Ethereum as DeFi’s core settlement layer.