In a strategic move, Bitcoin mining company TeraWulf has sold its stake in the 200-megawatt Nautilus mining facility to its partner, Talen Energy, for $92 million. The sale marks a 3.4x return on TeraWulf’s investment and positions the firm to pursue both AI and Bitcoin mining advancements.
$92 Million Deal Breakdown
TeraWulf’s October 3 statement highlighted the company’s plan to reinvest much of the proceeds into building a 20-megawatt facility at its Lake Mariner base in western New York. This new facility will host AI and high-performance computing data centers, underscoring the firm’s ambition to diversify beyond Bitcoin mining. The deal, worth $92 million, includes $85 million in cash and $7 million in mining equipment — 30,000 Bitcoin miners contributed by Talen.
TeraWulf stated that the expansion is part of its strategy to lower mining costs and boost profitability. Notably, the firm remains committed to using predominantly zero-carbon energy at its operations, a crucial component of its sustainability agenda.
Enhancing Operations with AI and More BTC Miners
The sale allows TeraWulf to invest in its growth while maintaining a focus on shareholder returns. The $92 million windfall will also help the company finish its “MB-5” Bitcoin mining facility. This building is expected to push TeraWulf’s operating hashrate to 13 exahashes per second by March 2025. In July, TeraWulf hinted at a potential merger to boost hashrate but emphasized that any such move would be growth-oriented, not driven by “empire building.”
Beyond the expansion into AI and computing, TeraWulf plans to reinvest in more Bitcoin miners to increase overall output and reduce the cost per mined coin, further securing its position in the competitive Bitcoin mining landscape.
The sale hands Talen Energy full ownership of the Nautilus mining site. However, in August, Reuters reported that Talen was exploring options to sell its stake in the cryptocurrency mining operation. Despite this uncertainty, the current transaction with TeraWulf solidifies Talen’s position, at least for the time being.
Stock Surge After the Sale
TeraWulf’s decision to sell its stake was well-received by investors. Following the announcement, TeraWulf’s stock (WULF) surged by 8%, rising to $4.71, according to Google Finance data. The positive market response reflects investor confidence in TeraWulf’s strategic reinvestment into AI and its core Bitcoin mining operations.
TeraWulf’s sale of its Nautilus stake marks a pivotal moment for the company as it looks to broaden its horizons while remaining committed to improving its Bitcoin mining operations. The combination of organic growth, sustainable energy practices, and strategic reinvestment has positioned TeraWulf as a forward-thinking leader in the rapidly evolving world of cryptocurrency mining and AI-driven data centers.
Republican lawmakers from the House Committee on Financial Services and the House Committee on Agriculture have unveiled a new crypto bill. The discussion draft seeks to establish a comprehensive regulatory framework for digital assets.
The draft builds on the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House in 2024. It addresses long-standing concerns about market concentration while fostering innovation and consumer protection.
“The term ‘affiliated person’ means a person (including a related person) that, with respect to any digital commodity— ‘‘(A) acquires more than 1 percent or more of the total outstanding units of such digital commodity from a digital commodity issuer,” the bill read.
“This bill makes clear the regulatory regime proposed is going to push against that fact and strongly encourage more small-d ‘democratization’ of the space,” Justin Slaughter is the VP of Regulatory Affairs at Paradigm, stated.
The bill also outlines requirements for affiliated or related persons involved in digital commodities. Before the blockchain system associated with the digital commodity is certified as mature, the affiliated person must hold the commodity for at least 12 months from receiving it.
The transactions are limited to 5% of the holdings or 1% of the average weekly trading volume in any 3-month period. Sales must occur through a digital commodity exchange. Furthermore, the draft mandates that the commodity must be used within the functioning of the blockchain system.
Once the blockchain system is certified as mature, the holding period is reduced to 3 months. In addition, the transaction limit is set to 1% of the total outstanding units or 1% of the average weekly trading volume. These regulations aim to prevent market manipulation and ensure fairness in digital commodity transactions.
New Bill Clarifies SEC and CFTC’s Split Authority Over Crypto
The discussion draft clarifies the jurisdictional divide between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This will allow digital asset projects to develop under well-defined and distinct sets of rules for securities and commodities.
“Digital asset developers will have a pathway to raise funds under the SEC’s jurisdiction. Market participants will have a clear process to register with the CFTC for digital commodity trading,” the draft’s one-pager noted.
Additionally, the draft prioritizes public and permissionless blockchains, explicitly defining them as the focus of the legislation. Private or permissioned networks may not qualify, aligning with the bill’s emphasis on decentralized systems.
The legislation also permits airdrops—broad, equitable token distributions—under specific conditions. That’s not all. The draft sets forth disclosure requirements and details the procedure for registering digital commodity exchanges.
“Regulatory clarity is long overdue in digital asset markets. Today marks the first step in advancing a comprehensive framework that protects consumers, fosters innovation, and closes regulatory gaps in oversight. It will give digital asset developers and users the certainty they need and have asked for,” Chairman Thompson remarked.
Going forward, the digital assets subcommittees of both House committees will meet for a joint hearing on May 6. Notably, the new bill marks a critical step in regulating the crypto industry. Potential amendments are likely before a House vote.
In an exclusive AMA session hosted by BeInCrypto, Dmitry Lazarichev, Co-Founder of Wirex, unveiled the company’s bold expansion into the U.S. market. With a focus on self-custody, seamless crypto-to-fiat conversions, and real-world usability, Wirex Pay is set to shake up how Americans interact with digital assets.
From spending stablecoins at 80 million merchants via Visa to instant on/off-ramp features powered by Bridge, Wirex is an all-inclusive payments platform. Lazarichev explained how this move addresses the growing U.S. demand for crypto solutions that combine speed, security, and control without sacrificing the convenience of traditional finance.
In this AMA, Lazarichev also shared how Wirex empowers users with full ownership of their funds, fosters DeFi adoption via its WXT token, and ensures enterprise-grade security. Let’s get into it!
Join the BeInCrypto Trading Community, participate in our AMA sessions, and earn cash prizes for your questions to our guest speakers!
AMA Session With Wirex
BeInCrypto: Today, we have a special guest speaker – Dmitry Lazarichev, Co-Founder of Wirex (@DmitryWirex)!
Ok, let’s start with this question
What motivated Wirex to expand its stablecoin payment platform to the U.S.?
Dmitry Lazarichev: The decision to expand Wirex’s stablecoin payment platform to the U.S. was motivated by the growing demand for seamless and secure crypto payment solutions in the country.
The U.S. has long been a leader in the adoption of digital assets, with both consumers and businesses seeking practical ways to leverage crypto in everyday transactions.
By bringing Wirex Pay to the U.S., we aim to meet this demand and offer users a simple, reliable way to use stablecoins in real-world payments while maintaining control over their assets.
Expanding to the U.S. was a strategic move to tap into a market that is rapidly evolving in terms of crypto adoption. The U.S. offers a unique combination of a large user base, innovation-driven businesses, and regulatory frameworks that support the growth of digital assets.
By providing Wirex Pay, we can facilitate the adoption of stablecoin-based transactions, which offer a more stable and secure alternative to traditional financial systems.
BIC: How does Wirex Pay differ from other payment platforms available in the U.S.?
Dmitry: Wirex Pay differentiates itself from other payment platforms by being a self-custodial solution. This means that users retain full control over their funds at all times, unlike many platforms that require users to trust a third party to manage their assets.
Additionally, Wirex Pay allows users to spend stablecoins at over 80 million merchants globally, thanks to its integration with Visa’s payment network. We also offer real-time conversions between crypto and fiat, ensuring smooth transactions without the need for complex wallet transfers or exchanges.
The core difference lies in the control we offer to our users. Most platforms are custodial, meaning they hold your assets in their wallets. Wirex Pay, however, allows users to retain ownership of their funds while making seamless payments through Visa’s global network.
This gives users the flexibility to spend stablecoins without needing to convert them to fiat first, making the process faster, simpler, and more secure.
BIC: What are the key features of Wirex Pay that U.S. users should be excited about?
Dmitry: U.S. users should be particularly excited about the instant on/off-ramp solutions provided through our partnership with Bridge, which allow for seamless, real-time conversions between stablecoins and fiat. This feature eliminates the delays typically associated with converting crypto to traditional currencies, making it easier to use digital assets in daily life.
In addition, users can benefit from real-time on-chain swaps for stablecoins and fiat, offering them greater flexibility and control. The ability to spend stablecoins directly at millions of merchants through the Visa network is also a standout feature.
The convenience of instant conversions ensures that users can access their funds in whichever form they need—whether crypto or fiat—without waiting for transactions to settle. This feature not only improves the user experience but also reduces friction in the transaction process.
Plus, having access to a wide range of merchants through Visa integration makes it incredibly convenient for users to pay with stablecoins wherever they go.
BIC: Can you explain how the collaboration with Bridge improves the user experience for U.S. customers and share more details about how stablecoin orchestration works through Bridge?
Dmitry: The collaboration with Bridge significantly enhances the Wirex user experience by making stablecoin transactions faster, more secure, and hassle-free. Bridge allows for real-time orchestration of stablecoin conversions, meaning users don’t have to manually swap assets or rely on third parties for transactions.
This process is automated and seamless, enabling users to convert between stablecoins and fiat instantly. For U.S. customers, this integration ensures that their funds are always available and ready to be spent, reducing wait times and simplifying the entire experience.
Bridge’s technology essentially streamlines the conversion process, so users don’t have to worry about manually exchanging stablecoins or worrying about market fluctuations. This automated orchestration provides a frictionless experience for users, ensuring that their transactions are not only fast but also secure.
By handling conversions behind the scenes, Bridge allows us to offer a more intuitive and efficient platform for U.S. users.
BIC: What are the benefits of using Wirex Pay via card and bank transfers while maintaining full control over funds?
Dmitry: The main benefit of using Wirex Pay via card and bank transfers is that it allows users to maintain full control over their funds while still making payments in a way that feels familiar. Users don’t need to trust a third party with their assets, as they can link their non-custodial wallets directly to the platform.
This gives them the flexibility to spend stablecoins at millions of merchants, without losing control of their crypto. Additionally, Wirex Pay offers seamless integration between crypto and traditional finance, so users can convert funds as needed without extra steps or delays.
The self-custodial nature of Wirex Pay is a game-changer for users who want to keep their crypto assets secure while still using them for daily purchases. This model eliminates the risk associated with custodial services, where assets are held by a third party.
Plus, the flexibility to use cards and bank transfers makes the platform accessible for a wider range of users, offering them the convenience of traditional payment methods while still enjoying the benefits of using stablecoins.
BIC: What kind of impact will the instant on/off-ramp solutions provided by Bridge have on U.S. users’ ability to convert crypto to fiat and vice versa?
Dmitry: The instant on/off-ramp solutions offered through Bridge will have a significant impact on U.S. users by removing the friction typically associated with crypto-to-fiat conversions.
Users can instantly convert their stablecoins into fiat, and vice versa, without waiting for transactions to settle or worrying about exchange rates.
This will make it much easier for users to use crypto in everyday life, whether they’re paying for goods, sending money, or managing their finances. The instant liquidity ensures that users can access their funds in the form they need, right when they need them.
This functionality is particularly beneficial for users who need to make quick payments or transfer funds between different currencies.
It eliminates the delays usually associated with conversion services, ensuring that users always have immediate access to the currency they require.
As a result, it also helps to make crypto more practical for everyday use, enabling faster transactions with fewer barriers.
BIC: Will the integration with Bridge allow U.S. businesses to accept payments in stablecoins directly? If so, what are the benefits for them?
Dmitry: Yes, U.S. businesses will be able to accept payments in stablecoins directly through Wirex Pay, thanks to our integration with Bridge.
The benefit for businesses is that they can avoid the volatility often associated with traditional cryptocurrencies, as stablecoins are pegged to fiat currencies.
This offers businesses the ability to accept digital payments while maintaining predictable value. It also allows them to tap into a growing customer base that prefers to use crypto for transactions, opening up new revenue streams.
By accepting stablecoins, businesses not only offer a modern payment method but also reduce transaction fees and payment processing times compared to traditional methods.
This can lead to greater efficiency, lower costs, and faster payments, which are key advantages for businesses looking to innovate and attract a tech-savvy customer base.
BIC: How does Wirex envision the future of crypto payments in the U.S., and what role will Wirex play in it?
Dmitry: Wirex envisions a future where crypto payments are integrated seamlessly into everyday life. As more people adopt digital currencies, we see a growing demand for stablecoin payments that are easy to use and widely accepted.
Wirex’s role will be to make these payments as simple and accessible as traditional card payments or bank transfers. We aim to provide the infrastructure and user-friendly tools that make it easy for individuals and businesses to use stablecoins in real-world transactions.
The future of crypto payments is about making digital currencies as easy to use as cash or credit cards. Wirex aims to be at the forefront of this transformation, providing U.S. users with the tools they need to transact easily and securely in a digital economy.
As the market evolves, we’ll continue to refine our platform and expand its capabilities to meet the changing needs of both consumers and businesses.
BIC: What updates and new features can U.S. users expect from Wirex in the next six months to a year?
Dmitry: In the next six months to a year, U.S. users can expect a variety of exciting updates and new features. We’re focused on expanding the range of stablecoins available on the platform, improving transaction speeds, and integrating with more payment systems to enhance user experience.
We’ll also be refining our platform’s security features and introducing additional tools that will make managing crypto assets even easier. These updates will ensure that Wirex remains a top choice for crypto payments in the U.S.
In addition to these enhancements, we’ll be rolling out improvements based on user feedback, ensuring that our platform meets the evolving needs of our growing U.S. user base.
The goal is to make Wirex Pay even more accessible and feature-rich, making it easier for U.S. users to navigate and manage their digital assets with confidence.
BIC: Now, my favourite part — questions from our Community
@Nauraa42: How does WXT bridge the gap between traditional finance and decentralized finance (DeFi), and what role does it play in Wirex’s long-term vision of integrating crypto into everyday financial transactions?
Dmitry: WXT, Wirex’s native token, plays a crucial role in bridging the gap between traditional finance and decentralized finance, acting as the bridge that connects these two worlds within the Wirex ecosystem. Through its utility, WXT helps to simplify the user experience, making DeFi more accessible to both crypto enthusiasts and traditional finance users.
One of the key ways WXT bridges this gap is by offering users a seamless way to participate in DeFi services while also engaging in everyday financial transactions. WXT can be used for earning rewards, and accessing exclusive benefits within the Wirex platform.
These features enable traditional finance users to explore DeFi in a straightforward and familiar manner. For example, users can earn rewards by staking WXT, gaining exposure to DeFi principles like yield farming, without needing to fully immerse themselves in complex DeFi protocols. This hands-on approach provides an easy entry point for those new to the space.
In the long run, WXT plays a key role in Wirex’s mission to make digital finance mainstream. By incorporating WXT into both DeFi activities and everyday transactions, Wirex is positioning itself as a bridge that connects users to the benefits of decentralized finance while ensuring they have the tools and rewards they need to make crypto a regular part of their financial lives.
BIC: @PaulTan001: Wirex is fantastic, and it has good ideas. Each project has interesting stories before it is created. So can you tell us about the story, problems, difficulties, etc., that gave you the motivation to build and develop Wirex?
Dmitry: Absolutely! Pavel Matveev and I, in fact, discussed the inspiration and journey behind Wirex in a recent anniversary episode of the Wirex Crypto Podcast.
We reflected on the exciting moments and the challenges we faced along the way in building the platform from the ground up. If you’re curious about our journey, the lessons we’ve learned, and the vision behind Wirex, make sure to check out the full episode here:
BIC: @tamishabaumann2: How can we trust WIREX and believe it is not a scam project? A lot of rug pulls and exit scams are happening these days.
Dmitry: It’s completely understandable to be cautious, especially with the rise of scams in the crypto space.
However, Wirex is a fully regulated and trusted platform with a proven track record of transparency, security, and compliance. We’re committed to safeguarding our users’ assets and providing them with a reliable, long-term solution for managing both crypto and traditional finance.
At Wirex, security is a top priority. We deploy multiple layers of advanced security measures to protect our customers and their assets. For example, we use Fireblocks Secure MPC Technology, which leverages Multi-Party Computation (MPC) to ensure private keys are never exposed and eliminate any single points of failure. This technology helps secure your assets with institutional-grade protection.
Additionally, all significant withdrawals from Wirex require multi-signature and multi-approval processes, which involve strict approval by authorized personnel using verified devices. This ensures that unauthorized transactions are prevented. We also utilize whitelisted and time-locked transactions, restricting withdrawals to pre-approved addresses and applying time delays for high-value transactions to further mitigate risks.
To further protect our users, Wirex has an advanced fraud and risk management system in place. We continuously monitor transactions for suspicious activity and use automated risk controls and fraud detection algorithms to block unauthorized transfers in real time. We also collaborate with leading cybersecurity and blockchain analytics firms to stay ahead of emerging threats and malicious actors.
Wirex operates in compliance with the highest industry standards. We are ISO 27001 and PCI DSS 4.0 certified, adhering to globally recognized cybersecurity and privacy management standards. Our commitment to regulatory compliance across multiple jurisdictions, including the UK and Australia, ensures transparency and resilience. Additionally, our security infrastructure undergoes regular third-party audits to validate and strengthen our defenses against evolving threats.
Wirex has been operational for over 10 years, and with the combination of these security protocols, regulatory adherence, and industry best practices, we offer our users peace of mind that their assets are in safe hands. We believe in the power of transparency and security, and we work tirelessly to provide a platform that users can trust.
BIC: @ngocsont993: Can you tell us about WIREX’s team members? Are they qualified and professional in their fields? What are the recruiting qualifications for team members of WIREX?
Dmitry: Absolutely! At Wirex, we are incredibly proud of our team, which is made up of highly skilled and qualified professionals who bring a wide range of expertise from fields like finance, technology, cybersecurity, regulatory compliance, and more.
Our team members share a common passion for transforming the financial landscape, and together, we work toward our goal of bridging the gap between traditional finance and the world of cryptocurrency.
Wirex has built a global presence with offices in key locations such as London, Italy, Singapore, and Ukraine. Each office plays an integral role in our operations, helping to ensure we can serve our diverse user base across various regions and maintain a high level of service and innovation. Our teams in these offices bring a wealth of regional expertise while contributing to Wirex’s overarching vision of revolutionizing digital finance on a global scale.
Recruiting at Wirex is a highly selective process, and we seek individuals who not only have strong technical expertise but also align with our values of transparency, security, and innovation.
We are open to accepting brilliant minds from around the world to join us in creating a new story. We believe in building a diverse and dynamic team that reflects the global nature of the crypto ecosystem. You can check out our job openings here https://wirex.bamboohr.com/careers
BIC: @trgdoa: Can you provide WIREX’s official Telegram group links and social media links? I have seen many similar groups.
Dmitry: Sure! For official communication and updates, here are the links to Wirex’s official Telegram group and social media profiles:
Make sure you’re following these official channels for the latest news, announcements, and support. If you see other similar groups, please be cautious and make sure they are not unofficial or potential scams. Always rely on the official Wirex links for your safety and security!
BIC: It was the last question of our AMA session!
@DmitryWirex thank you for being here today
Conclusion
Wirex’s move into the U.S. marks a thoughtful step toward making stablecoin payments more accessible and user-friendly. By offering self-custodial control, seamless crypto-to-fiat conversions through Bridge, and integration with Visa’s payment network, Wirex provides a practical solution for those looking to use digital assets in everyday life.
As Dmitry Lazarichev highlighted in the AMA, the focus is on combining the convenience of traditional payments with the benefits of stablecoins, without compromising on security or user control.
With clear use cases for both individuals and businesses, Wirex Pay shows potential to support wider adoption of crypto payments in a way that feels familiar, yet future-ready.
Bitcoin (BTC) is up more than 7% over the past seven days, holding firm above the $100,000 level and showing signs of continued bullish momentum. However, recent whale activity paints a more cautious picture, with only a slight increase in large holders and mixed signals over the past month.
While the Ichimoku Cloud and EMA indicators remain supportive, they also reflect a market lacking strong conviction. With key resistance and support levels in focus, BTC’s next move could determine whether it pushes toward new highs or risks falling back below six figures.
BTC Whales Inch Up, but Confidence Still Mixed
The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—has slightly increased, rising to 2,012 as of today, up from 2,009 on May 9.
While this uptick may appear marginal, whale activity is closely monitored by analysts and investors because these large holders often influence market direction through significant transactions.
Whale accumulation typically reflects growing confidence in Bitcoin’s medium- to long-term outlook, while reductions in holdings can signal caution or profit-taking.
That said, the current pace of growth in whale numbers remains modest, and their activity has been far from stable over the last 30 days.
The last month has shown mixed signals, with whales alternating between accumulation and distribution amid macro uncertainty and volatile price action, as all 12 Bitcoin ETFs see red as the market shrugs off $96 million exit in the last 24 hours, their biggest single-day outflow since April 16.
This inconsistency suggests that, despite the slight rise in recent days, major players are still navigating the market cautiously rather than committing to a sustained buying trend, despite some analysts stating that Bitcoin could reach a new all-time high soon.
Bitcoin Holds Above Cloud, But Momentum Slows
The Ichimoku Cloud chart for Bitcoin currently shows a relatively neutral-to-bullish setup. Price candles sit just above the Kijun-sen (red line) and Tenkan-sen (blue line), indicating that short-term support is holding for now.
The cloud (Kumo) ahead is bullish, with the Senkou Span A (green cloud boundary) positioned above the Senkou Span B (red cloud boundary), reflecting a positive forward-looking trend.
The Chikou Span (lagging green line) remains above the price from 26 periods ago, signaling cautious bullish sentiment.
Price is still above the cloud, which is a bullish zone, but sideways action and a narrowing gap between the Tenkan-sen and Kijun-sen show indecision.
For the uptrend to gain strength, the blue line must cross above the red line clearly, with a thicker and steeper cloud forming ahead.
Key Levels to Watch: Bitcoin’s Next Move After Holding $100,000
Bitcoin price has been steadily holding above the key psychological level of $100,000 for the past six days, with its EMA lines indicating a clear uptrend—short-term averages are positioned above long-term ones, signaling sustained bullish momentum.
If BTC can break above the immediate resistance at $105,705, it could trigger another leg up toward $107,038.
