By Kapil Rajyaguru
Hive Digital Clocks $29.2mn in Q3 Revenue as Bitcoin HODL Position Surges.
Data center infrastructure provider Hive Digital reported earnings and revenue growth for the final quarter of 2024, driven by record Bitcoin reserves and an expanding high-performance computing (HPC) business.
In the quarter ending Dec. 31, Hive’s revenues from crypto mining and HPC hosting services reached $29.2 million.
Its HPC business generated $2.5 million in quarterly revenue for an annualized run rate of $10 million. The company’s adjusted earnings were $17.3 million, while net income after tax amounted to $1.3 million.
South Korea To Allow Institutions To Sell Crypto Donations In 2025.
South Korea’s Financial Services Commission (FSC) is set to allow institutions to begin selling their digital asset donations and instruct banks to offer more services to cryptocurrency firms.
South Korea’s main financial regulator will allow charities and universities to sell their crypto donations starting in the second half of 2025. The FSC had previously restricted institutions from opening accounts on cryptocurrency exchanges.
As part of a pilot program, new regulations will also allow 3,500 corporations and professional investors to open “real-name” accounts in the first half of the year before being allowed to sell their assets, according to a Feb. 13 announcement by the FSC.
Texas Lawmakers Refile Bitcoin Reserve Bill, Adding Room For More Crypto.
Texas lawmakers have refiled a strategic Bitcoin reserve bill under a slightly different name, allowing investments in other qualifying cryptocurrencies.
“SB 21 would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Texas state Senator Charles Schwertner on Feb. 12.
The earlier legislation only permits the state to buy and hold BTC as a strategic asset and prevents its use for other state operations unless explicitly authorized.
The bill establishes the reserve as an investment vehicle, allowing the state to actively buy, sell, and manage crypto assets for financial security and economic resilience.
OpenAI CEO Sam Altman Says GPT-5 is Coming in Matter of Months.
OpenAI’s next iteration of its ChatGPT AI language model could be only a few months away, according to CEO Sam Altman. In an updated roadmap posted to X on Feb. 12, Altman said the artificial intelligence firm will first release GPT-4.5, called Orion internally, as OpenAI’s “last non-chain-of-thought model.”
Altman didn’t give an exact timeline for the release for GPT-4.5 or GPT-5; but told an X user it would be a matter of weeks for GPT-4.5 and months for GPT-5.
Wyoming Highway Patrol Union Mulls Adding Bitcoin To Balance Sheet.
The Wyoming Highway Patrol Association (WHPA), a nonprofit organization supporting troopers, dispatchers, and civilian support staff of the highway patrol, is reportedly exploring the adoption of Bitcoin, including adding it to its balance sheet.
The plan is in partnership with Bitcoin education platform Proof of Workforce’s “Get Off Zero” initiative to help labor unions, pension funds, and others learn about Bitcoin and its benefits, Proof of Workforce founder Dom Bei said in a Feb. 12 statement.
A portion of those Bitcoin funds would potentially be held in self-custody, Bei said.
New York Senator Introduces Bill To Create A Crypto Task Force.
A New York senator has proposed legislation for a crypto task force to investigate the current state of cryptocurrencies and other forms of digital currency in the city.
The New York State Cryptocurrency and Blockchain Study Act, introduced by state Senator James Sanders Jr on Feb. 12, would establish a task force of 17 people to investigate “the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems.”
As part of their investigation, the task force would review the state of crypto in New York, identify how many digital currencies are being traded, the number of exchanges in New York, and how crypto affects the state and local tax receipts, according to the bill’s description on the New York State Senate website.
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