Riot Platforms jumped roughly 11% after disclosing it sold more than $160 million in Bitcoin to finance a Texas data-center acquisition. The company says the move is part of a strategic shift to redeploy capital into expanding mining infrastructure.
Texas-based Monet Bank has shifted its business model to serve cryptocurrency and digital asset firms, positioning itself as a dedicated crypto lender. The change aims to expand tailored credit and banking options for the growing crypto industry.
Texas has become the first U.S. state to purchase and hold Bitcoin (BTC), stepping in during a market pullback as a strategic reserve move; officials say the allocation is intended to diversify treasury assets and signal confidence in crypto as an institutional tool.
Texas purchased $10 million in Bitcoin on November 20 to create a Strategic Bitcoin Reserve, becoming the first U.S. state to hold BTC on its balance sheet. The move signals growing institutional acceptance of crypto.
Coinbase is moving its corporate registration from Delaware to Texas, saying Texas provides a more efficient and predictable legal system. The shift highlights Texas’s growing appeal to crypto firms and may change governance and litigation dynamics.