Bit Digital Exits Bitcoin Mining to Prioritize ETH Staking
Crypto mining firm Bit Digital has announced its full exit from the Bitcoin mining sector to concentrate exclusively on Ethereum staking and blockchain-based treasury management. This strategic pivot reflects the growing trend among institutional players to move away from energy-intensive proof-of-work systems and toward yield-generating proof-of-stake protocols.
The company plans to sell off its Bitcoin mining operations, freeing capital for staking initiatives and treasury diversification. This shift aligns with the broader market movement favoring ETH staking as a stable revenue stream in the evolving Web3 economy.
SoFi Launches Global Blockchain Remittance and Crypto Services
U.S.-based fintech firm SoFi (SOFI) unveiled its upcoming international remittance platform powered by blockchain networks and stablecoins. The service aims to let users send U.S. dollars or select stablecoins globally, with transactions processed 24/7 via “well-known” blockchains and converted into local currencies quickly.
SoFi emphasized that this model will be significantly faster and more affordable than traditional remittance methods such as bank transfers and wire payments.
Re-Entry into Crypto Trading and Web3 Infrastructure
Alongside remittances, SoFi will relaunch its cryptocurrency investment services later this year. Users will be able to buy, sell, and hold major digital assets, starting with Bitcoin (BTC) and Ethereum (ETH).
Future offerings are expected to include:
- Staking of supported digital assets
- Crypto-backed borrowing services
- Blockchain-as-a-service features via the Galileo platform, enabling third-party infrastructure deployment
This marks SoFi’s return to the crypto space after suspending services in 2023 to secure a banking license under stricter regulatory oversight.
Regulatory Tailwinds and CEO Vision
SoFi’s renewed focus on digital assets follows updated guidance from the U.S. Office of the Comptroller of the Currency (OCC), which now allows nationally chartered banks to offer crypto custody and stablecoin services.
CEO Anthony Noto stated that the company is accelerating its innovation in blockchain, aiming to empower users with more control and flexibility in cross-border payments, investing, and long-term financial planning.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.