Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$108,159, a 0.3 percent decline in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$107,591 and a high of US$108,551.

Bitcoin price performance, July 7, 2025.

Chart via TradingView.

Bitcoin hovered near US$109,000 at the start of the day as investors shifted from equities to crypto in response to tariff-related uncertainty under US President Donald Trump.

Meanwhile, MicroStrategy’s (NASDAQ:MSTR) paused its weekly Bitcoin purchases for the first time since March, signaling a strategic reassessment amid recent volatility. Together, macro pressures and institutional moves helped support Bitcoin’s price.

Ethereum (ETH) is priced at US$2,546.07, up by 0.2 percent over the past 24 hours. Its lowest valuation as of Monday was US$2,521, and its highest was US$2,553.

Altcoin price update

• Solana (SOL) was priced at US$149.11, down by 1.3 percent over 24 hours. Its lowest valuation as of Monday was US$149.21, and its highest was US$153.06.

• XRP was trading for US$2.30, up 1.6 percent in the past 24 hours. The cryptocurrency’s lowest valuation was US$2.28, and its highest was US$2.30.

• Sui (SUI) is trading at US$2.87, down by 0.7 percent over the past 24 hours. Its lowest valuation was US$2.84 and its highest was US$2.92.

• Cardano (ADA) is priced at US$0.5847, down by 0.4 percent in the last 24 hours. Its lowest valuation as of Monday was US$0.5764, and its highest was US$0.589.

Today’s crypto news to know

CoreWeave to acquire Core Scientific for US$9 billion

CoreWeave (NASDAQ:CRWV) signed a definitive agreement to acquire Core Scientific (NASDAQ:CORZ) in an all-stock deal valued at US$9 billion, the company announced today. Core Scientific’s shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each share of Core Scientific, representing a 66 percent premium over Core Scientific’s June 25 closing price of US$12.30.

The deal had been in the works for over a year. A US$1 billion bid made by CoreWeave in 2024 was initially rejected as too low, but the Wall Street Journal reported in June 2025 that discussions between the two companies had resumed.

“This acquisition accelerates our strategy to deploy AI and (high-performance computing) workloads at scale,” said Michael Intrator, CoreWeave’s CEO, Chair and co-founder. “Verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion.”

Bit Digital shifts corporate treasury from Bitcoin to Ether

Digital asset firm Bit Digital (NASDAQ:BTBT) has shifted its corporate treasury from Bitcoin to Ether, according to an announcement made by the company on Monday.

The change was punctuated by a purchase of more than 75,000 ETH tokens, funded by the sale of 280 Bitcoin and proceeds raised during a recent public offering that brought in US$172 million.

According to the announcement, Bit Digital held 24,434 ETH prior to the offering, and the additional ETH acquisition has brought the company’s total to approximately 100,603 ETH. This move establishes Bit Digital as the second-largest corporate holder of ETH after Coinbase Global, according to CoinGecko data.

Following this news, Bit Digital’s stock closed over 18 percent higher, and its market capitalization temporarily rose above US$1 billion.

The Blockchain Group and Smarter Web Company expand Bitcoin holdings

On the other hand, France’s The Blockchain Group (EPA:ALTBG) and the United Kingdom’s Smarter Web Company (AQSE:SWE) expanded their Bitcoin holdings today.

In a Monday announcement, The Blockchain Group said it acquired 116 BTC for about 10.7 million euros, bringing its total holdings to 1,904 BTC.

The Smarter Web Company announced its purchase of 226.42 BTC for 17.9 million pounds, bringing the company’s total to 1,000 BTC.

SEC’s crypto ETF guidance signals mainstream shift

The US Securities and Exchange Commission took a major step toward regulating crypto exchange-traded products with its first formal guidance on crypto ETP disclosures, according to a Reuters analysis.

Issued last week, the 12 page document issues new guidance, stating firms should describe risks and custody arrangements in “plain English.” The document could speed up approval of dozens of new crypto ETFs tied to a variety of coins, including Solana, XRP and even Trump’s meme coin, Reuters states.

Anonymous insiders told Reuters the SEC is also developing a more standardized listing rule to replace the case-by-case exemptions that currently delay launches. That change could shrink approval timelines from 240 days to as little as 75.

Musk’s America Party goes all-in on Bitcoin, calls fiat ‘hopeless’

Elon Musk confirmed that his newly formed America Party will officially embrace Bitcoin after declaring that “fiat is hopeless” in a post on X.

The move follows Musk’s earlier hints at increasing his own Bitcoin exposure and praising Bitcoin as a hedge against traditional currency.

Musk was a significant figure in Trump’s reelection campaign and even headed the Department of Government Efficiency before splitting with Trump over his budget bill and creating the America Party.

The shift could inject more digital asset discussions into US politics as Musk tries to build a third-party movement.

Despite hype from Dogecoin supporters, no plans for DOGE adoption were announced.

Metaplanet boosts Bitcoin stash past 15,500 BTC

Japan’s Metaplanet (OTCQX:MTPLF,TSE:3350) disclosed this week that it purchased another 2,205 BTC at an average price of 15.64 million yen per coin, spending around US$213 million.

This purchase brings the firm’s total bitcoin holdings to 15,555 BTC, making Metaplanet one of the world’s largest corporate holders of the asset.

The company tracks a proprietary metric called BTC Yield, measuring the effect of share dilution on per-share bitcoin value.

For the second quarter, Metaplanet reported a BTC yield of 95.6 percent, down from 309.8 percent the previous quarter, but still strong enough to highlight aggressive growth.

Metaplanet’s total BTC investment now tops US$1.38 billion.

1. Onyx Gold (TSXV:ONYX)

Year-to-date gain: 846.34 percent
Market cap: C$122.48 million
Share price: C$1.94

Onyx Gold is an exploration company advancing its Munro-Croesus project, located near Timmins in Ontario, Canada. The company has increased the size of the land package by 200 percent between 2020 and 2025, and the project now covers an area of 109 square kilometers.

Munro-Croesus hosts the historic Croesus mine, which produced 14,859 ounces of gold between 1915 and 1936 with an average grade of 95.3 grams per metric ton (g/t). Onyx is the first company to explore the property since the mine closed.

Shares in Onyx have had significant gains in the second quarter of 2025. The momentum came as the company announced option agreements to enlarge its land package at Munro-Croesus.

The first announcement came on April 10, when it stated that it had agreed with private vendors to acquire a 21 hectare patented claim near the Argus North zone. Under the terms of the agreement, Onyx has the option to acquire a 100 percent interest in the property, which has never been drilled, in exchange for cash consideration of C$1.5 million and 3.3 million Onyx shares over a three-year period.

The second acquisition was announced on June 24, when Onyx reported that it signed a mineral property purchase and sale agreement to acquire a 100 percent interest in the Munro and Hewitt properties, both located near the existing Munro-Croesus project. The acquisition will expand the company’s land package from 95 to 109 square kilometers.

Alongside its land consolidations, Onyx has also spent the second quarter advancing exploration at the property.

Most recently, on June 26, the company reported the first drill results from its 10,000 meter spring drill program at the Argus North zone at Munro-Croesus. One highlighted assay contained 1.8 grams per metric ton (g/t) gold over 91 meters, including 4 g/t over 32 meters and 5.3 g/t over 17 meters.

The company said the results demonstrate the continuity of broad zones of high-grade gold mineralization.

Shares in Onyx reached a year-to-date high of C$2.09 on June 27.

2. Goldgroup Mining (TSXV:GGA)

Year-to-date gain: 500 percent
Market cap: C$217.34 million
Share price: C$0.99

Goldgroup Mining is a gold production, development and exploration company working to advance its Cerro Prieto heap-leach gold mine. The 4,335 hectare property, located in Sonora, Mexico, produces an annual average of 11,500 ounces of gold and has produced more than 120,000 ounces since its beginning in March 2013.

Goldgroup is currently working to double the capacity of the mine to more than 25,000 ounces per year. The last update on progress came in October 2024, when it announced that it had installed the primary crusher with a 2,200 metric ton per day throughput. It also said it had expanded pumping and irrigation capacity.

The most recent update on Cerro Prieto came on March 26, when Goldgroup announced high-impact exploration near the mine. The program will include 6,000 meters of diamond drilling focused on the Nuevo Esperanza and Reyna zones, which are next to the main Esperanza production zone.

The company also announced plans for an induced polarization geophysical survey and surface trenching 1 kilometer south of the mine to further investigate newly discovered mineralized zones.

In addition to activities at Cerro Prieto, the company announced on March 7 that it had entered an agreement to acquire Minera Apolo and its Pinos gold project from Candeleria Mining in exchange for settling a US$2.7 million loan facility. Goldgroup previously secured rights to the facility with Candeleria from a creditor group in a maneuver to acquire the project.

Pinos is a fully permitted gold project situated in the Zacatecas mining belt of Northern Mexico and comprises 29 concessions over 3,816 hectares. A 2018 PEA revealed an after-tax net present value of US$12 million, with a 25 percent internal rate of return at a gold price of US$1,250 per ounce.

Shares in Goldgroup reached a year-to-date high of C$1.08 on May 9.

3. Trident Resources (TSXV:ROCK)

Year-to-date gain: 400 percent
Market cap: C$19.62 million
Share price: C$0.75

Trident Resources, formerly Eros Resources, is a gold and copper exploration company focused on projects in Saskatchewan, Canada.

A three-way merger in early 2025 between Eros Resources, MAS Gold and Rockridge Resources, allowed the companies to consolidate a portfolio of assets in Saskatchewan, including the Contact Lake and Greywacke gold projects in the La Ronge gold belt as well as the Knife Lake copper project.

Before this year, Eros was focused on the Bell Mountain gold-silver project in Nevada, US, but on January 6, the company announced it had sold the property to Lincoln Gold Mining (TSXV:LMG) in exchange for up to 4.5 million common shares and a net profits interest of 7.5 percent of net returns from gold and silver produced at the project to a maximum of US$2 million.

The company announced its rebranding from Eros to Trident on April 23, with its new name chosen in part to represent the three companies joining together. In the release, the company stated that the rebrand marked the beginning of a new chapter for the company, underscoring its focus on the gold and copper markets.

On May 6, Trident announced it received drill permits for the Contact Lake project, marking the first project news following the rebrand.

Trident stated the drill program would be conducted over the summer and consist of approximately 5,000 meters, with 3,800 meters to be carried out at the Contact Lake deposit and 1,200 meters at the Preview SW deposit.

Shares in Trident reached a year-to-date high of C$0.75 on July 3.

4. Solstice Gold (TSXV:SGC)

Year-to-date gain: 333 percent
Market cap: C$15.28 million
Share price: C$0.065

Solstice Gold is an exploration company focused on advancing its flagship Strathy gold project in Ontario, which it acquired in June 2024.

The project consists of 45 claims covering an area of 45 square kilometers in the Temagami Greenstone belt. Historical documents report six gold showings in the central portion of the project areas, with documented mineralization at the Leckie prospect.

On January 15, Solstice announced results from an induced polarization survey of the property. It identified 50 new targets, with the highest priority targets being along strike on the Leckie Fault. The company stated that the results support the existence of an extensive, largely unexplored system, with potential for multiple discoveries.

Solstice said it had also been selected to receive a grant under the Ontario Junior Exploration Program from the provincial government. The grant will provide 50 percent of the exploration funding, up to a maximum of C$194,000.

Shares in Solstice gained early in the year following its January 20 announcement that Michael Gentile had increased his stake in Solstice to 16.76 percent, making him the single largest shareholder.

In its latest project update on July 2, Solstice announced it had wrapped up its spring drill program, which focused on four target areas. In total, the company completed 3,125 meters of drilling across 14 holes, and results are expected in July.

The company reported that it had entered into an agreement to acquire 17 additional claims, which would increase the project area by 50 percent. It added that targets identified from its IP program may extend along strike into these claims.

Shares in Solstice reached a year-to-date high of C$0.065 on June 27.

5. Lahontan Gold (TSXV:LG)

Year-to-date gain: 300 percent
Market cap: C$28.49 million
Share price: C$0.10

Lahontan Gold is a development and exploration company dedicated to advancing a portfolio of properties in Nevada, United States.

Its primary focus is on its flagship Santa Fe gold-silver project in Walker Lane. The property consists of 291 unpatented lode mining claims, 67 unpatented mill site claims, and 24 patented lode mining claims, covering a land package of 26.4 square kilometers.

On January 24, the company released a PEA for the project that demonstrated an after-tax net present value of US$56.5 million with an internal rate of return of 17.4 percent over a payback period of 4.24 years based on a gold price of US$2,025 per ounce.

The included MRE for the site reports an indicated resource of 1.44 million ounces of gold and 11.2 million ounces of silver from 48.39 million metric tons of ore at an average grade of 0.92 g/t gold and 7.18 g/t silver. It also hosts an inferred resource of 401,000 ounces of gold and 1.75 million ounces of silver from 16.76 million metric tons at a grade of 0.74 g/t gold and 3.25 g/t silver.

The most recent news from Lahontan was on March 18, when it provided an update on its Exploration Plan of Operation submitted to the Bureau of Land Management in November 2024. In the release, the company stated it expects the Bureau to approve the plan, allowing permitting to proceed to the National Environmental Policy Act phase. According to Lahontan, final approval is on track for late 2025.

In the meantime, Lahontan stated that it would be able to continue exploration drilling at its patented mining claims under a Notice of Intent (NOI). On May 6, the company filed a new NOI for additional drilling at the site that would target extensions in the Slab and York areas of the project, and the BLM approved it on June 9.

Additionally, the company announced on June 24 that it had started metallurgical test work at Santa Fe with the goal of substantially improving CN leach gold recoveries for transition materials compared to the 49 percent recovery in the PEA.

Shares in Lahontan reached a year-to-date high of C$0.105 on June 25.

Mining incentives on the chopping block

Perhaps the most consequential piece of the “One Big Beautiful Bill” for the mining industry is its planned phaseout of the Section 45X advanced manufacturing production credit.

This 10 percent tax incentive was created under the 2022 Inflation Reduction Act to encourage domestic extraction, processing and recycling of critical minerals — such as lithium, nickel, cobalt and rare earth elements — that power batteries and other industrial technologies.

Under the new bill, the 45X credit would begin to wind down in 2031 and be eliminated entirely by 2034.

That reversal has drawn fierce criticism from mining advocates, who warn that scaling back the credit undermines efforts to build a resilient domestic supply chain.

Meanwhile, the National Mining Association, which has long called for expanded mining incentives, expressed their support for the bill’s passage and praised other funding provisions in the bill that support the industry.

“We urge the House to quickly pass this bill,” said Rich Nolan, National Mining Association president and CEO, in a statement after the Senate vote. “It increases the competitiveness of the American mining industry and provides vital incentives, including funding to counter China’s mineral dominance.”

The overall direction of the bill, though, makes clear that domestic producers will face a more challenging environment after a brief window of continued support up until 2034.

The bill’s tougher guardrails on critical mineral sourcing add to this challenge. Alongside the phaseout of 45X, lawmakers included new restrictions to curb reliance on “prohibited foreign entities” — primarily adversarial nations like China and Russia — in the supply chain.

Under the legislation, companies seeking the advanced manufacturing credit will have to pass a ‘material assistance cost ratio test’ to prove they are not overly dependent on inputs or components from these foreign entities.

Fossil fuels win big

The legislation delivers a sweeping victory to oil, gas and coal interests.

First, it mandates an ambitious leasing program for fossil fuel production, opening 30 lease sales in the Gulf of Mexico over 15 years and more than 30 lease sales annually on federal lands across nine states. It also cuts the royalties oil and gas producers pay to the government, aiming to encourage higher output.

“This bill will be the most transformational legislation that we’ve seen in decades in terms of access to both federal lands and federal waters,” Mike Sommers, president of the American Petroleum Institute, told CNBC.

“It includes almost all of our priorities.”

Coal producers, too, receive a major boost. The bill designates at least 4 million additional acres of federal land for coal mining and slashes the royalties paid by coal companies.

In a further sweetener for metallurgical coal producers, the bill permits them to use advanced manufacturing tax credits to support coal used in steelmaking.

In a controversial move, the bill also extends a carbon capture tax credit designed to trap carbon emissions from industrial facilities. However, under the new language, oil companies can claim a higher tax benefit for using captured CO2 to push more oil out of aging wells.

Hydrogen fuel investments get a partial reprieve: the hydrogen production tax credit will now end in 2028 instead of immediately, giving oil majors more time to roll out projects.

Renewables face deep cuts

In stark contrast to fossil fuels, renewable energy incentives are headed for a steep rollback. The legislation phases out the investment and production tax credits that have supported wind and solar since the 1990s.

Under the new plan, renewable power projects placed into service after 2027 will no longer qualify for these credits, although a one year grace period will apply to projects that begin construction within 12 months of the bill becoming law.

A related tax credit encouraging the use of US-made components in renewable installations will also expire for projects entering service after 2027. Projects that start construction in the year after the bill becomes law can still qualify, but anything beyond that window loses access to the incentive.

The bill also adopts Senate language providing a more gradual phaseout for these credits, rather than the abrupt cutoff proposed by the House.

Still, the overall impact is clear: after decades of public policy designed to grow wind and solar, their incentives are being dismantled.

President Trump’s views on renewables are no secret. In a June 29 Fox News interview, he criticized solar farms and wind turbines as “ugly as hell” and vowed to restore fossil fuels to the heart of US energy policy.

Crypto gets an indirect boost

Cryptocurrency investors have found reason for optimism in the bill, even though no direct amendments on crypto taxes made it into the final text.

As the bill moves forward, it extends the 2017 Trump-era tax cuts, adds new tax-free treatment for up to US$25,000 in tips and US$12,500 in overtime pay, and expands estate tax exemptions.

These changes are projected to raise the US national debt by between US$3.3 trillion and US$5 trillion over the next decade. That debt expansion, paired with more disposable income from tax cuts, has created a bullish narrative for Bitcoin and other cryptocurrencies as a hedge against inflation.

“More debt can lead to more money printing. That’s good for BTC in the long run,” crypto analyst Ranjay Singh said in an X post.

Crypto market observers had hoped the bill would fix rules around staking, airdrops and Bitcoin-mining taxation, but those amendments fell short in the Senate. Senator Cynthia Lummis, for instance, tried to remove what she called a “double tax” on Bitcoin miners, but the proposal was left out of the final package.

Even so, crypto advocates believe the combination of looser monetary policy, expanded government spending and higher debt will create an environment that supports digital assets.

Artificial intelligence remains a state issue

One of the most hard-fought technology debates in the bill revolved around artificial intelligence (AI) regulation.

The House version of the bill had sought to impose a 10 year nationwide moratorium preventing states from enacting their own AI laws. Senate Republicans, led by Senators Marsha Blackburn and Ted Cruz, negotiated that down to five years before ultimately scrapping the idea altogether.

The final bill does not block states from regulating AI — a major development for privacy, civil rights and consumer groups.

“The Senate did the right thing today for kids, for families and for our future by voting to strip out the dangerous 10-year ban on state AI laws,” Jim Steyer, CEO of Common Sense Media, said in a statement.

The removal of the moratorium means the US will remain a patchwork of state-level rules, from deepfake bans in California to mental health chatbot restrictions in Utah.

Industry leaders have previously complained that this environment creates compliance headaches and could hamper innovation.

“There’s growing recognition that the current patchwork approach to regulating AI isn’t working,” said Chris Lehane, chief global affairs officer at OpenAI. “But until there is a national framework, this is what we’ll have.”