Live: Bitcoin Trades Sideways While Big AI Infrastructure Deals Roll On -

Shipping through the Strait of Hormuz has nearly stopped as the 60-day U.S.-Iran ceasefire expires without a new agreement, bringing fresh oil-price concerns back to the crypto market. Meanwhile, Bitcoin ETF flows are showing signs of turning more positive.

NVIDIA CEO Jensen Huang said the company will begin securing land, electricity and infrastructure for AI factories, with the first planned site in Portsmouth, Ohio, where OpenAI will serve as the tenant.
NVIDIA will contribute to portions of the facility’s lease and electricity costs and provide a residual-value commitment. OpenAI will cover the lease payments and install NVIDIA’s computing infrastructure.
NVIDIA estimates the Ohio facility could generate between $150 billion and $200 billion in revenue for the company during each hardware upgrade cycle over its 20-year lifespan. Including OpenAI’s broader deployments, the total computing opportunity could reach about $600 billion by 2030.
Huang rejected claims that the arrangement involves circular financing, saying OpenAI will pay the lease.

Strive Asset Management purchased another 79 BTC for approximately $5 million at an average cost of $63,231 per Bitcoin.
The purchase increased its total holdings to 20,246 BTC, valued at roughly $1.27 billion.
Strive shares gained about 0.5% in premarket trading.

Bitmine Immersion now holds 5.815 million ETH, representing approximately 4.8% of Ethereum’s total supply.
The company also bought back 1.7 million shares last week, taking its cumulative repurchases since July to 20.8 million shares.
BMNR shares were little changed in premarket trading.

Anthropic generated more than $11.5 billion in second-quarter revenue, according to Bloomberg, marking an increase of more than 14 times from a year earlier.
The AI company also recorded positive operating income, fueling speculation that it could pursue an IPO as soon as this fall.
Nasdaq 100 futures rose about 0.5%, suggesting the report provided a modest lift to technology sentiment.

Strategy raised $333.7 million last week through a common-stock offering, according to a Monday filing.
It used $132.2 million of the proceeds to repurchase STRC preferred shares, with the rest going toward dividends and strengthening its cash position.
Strategy’s cash reserves now total about $4.8 billion, while its Bitcoin holdings remain at 840,447 BTC.
MSTR rose approximately 1.3% before the market opened, while STRC was unchanged.

Risk assets opened stronger Monday, with Bitcoin, gold and silver all posting gains.
Bitcoin was up about 1% over 24 hours above $63,500. Gold approached $4,400 per ounce, while silver remained just below $66.
Memory stocks were also among the strongest performers in premarket trading. The Roundhill Memory ETF climbed more than 4.5%, taking its rebound from July lows to roughly 35%, while Sandisk gained more than 4%.
Micron advanced around 3%, and the Invesco QQQ gained more than 0.5%.

The U.S.-Iran ceasefire was scheduled to end Monday without a new agreement, while shipping activity through the Strait of Hormuz remained severely restricted.
Kpler data showed only five cargo ships crossed the waterway Saturday, with no crossings recorded Sunday, compared with 31 during the prior weekend.
Traffic has fallen roughly 90% from prewar levels through a waterway that normally carries about one-fifth of global oil supplies.
Iran reportedly told Oman that it would reopen the strait if Washington lifted its naval blockade, CNBC reported.
Continued disruption could push crude prices higher, adding to inflation pressures and potentially making the Federal Reserve less willing to ease monetary policy.
Higher oil prices could also strengthen the dollar and Treasury yields, creating pressure on Bitcoin just as ETF flows begin to recover.
Bitcoin remained around $63,300 Monday and continued to trade below $64,000.

HIVE shares surged roughly 9% in premarket trading after the company announced a five-year GPU cloud contract worth $350 million.
The deal pushes HIVE’s contracted annual recurring revenue to about $180 million, with management targeting $200 million by the fourth quarter of 2026.
The company’s fiscal Q1 2027 revenue climbed 73.5% year over year to $79.1 million, while high-performance computing revenue rose 52% to $7.1 million.

The Dollar Index fell to 99.29 early Monday, reaching its weakest level since June 5, according to TradingView.
The decline broke below the rising trendline that had characterized the dollar’s recovery from its January low of 95.55.
Further dollar weakness could provide a favorable backdrop for Bitcoin and other risk assets.

Bitcoin remains near $63,500, but ETF flows have recently shifted in a more constructive direction, according to Yusuf Fakhro of ARP Digital.
U.S. spot Bitcoin ETFs attracted more than 14,000 BTC during the five trading days through Aug. 7, their strongest inflow stretch since May.
Q3 has generated around 11,000 BTC of net inflows so far, compared with roughly 110,000 BTC of outflows during the second half of Q2.
The reversal suggests institutional investors may be moving back toward accumulation after heavy selling earlier in the year.
Broader market activity remains subdued, however. Spot volumes have fallen to about two-and-a-half-year lows, perpetual futures volumes are near three-year lows, and volatility is close to multi-year lows.
Fakhro said new demand entering such a thin market could indicate that Bitcoin is establishing a lasting bottom. He views the cryptocurrency’s extended $60,000-$80,000 range as a sign of investor apathy rather than the type of deterioration seen during previous major bear markets.
Leverage remains a major source of uncertainty. Bitcoin is still confined between roughly $62,000 and $64,000, leaving the market vulnerable to a sharp move if either level breaks.
Perpetual futures open interest has stayed above 300,000 BTC despite the decline in trading activity, increasing the potential for a major liquidation-driven move in either direction.

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