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➡️🔌 From Hash to Compute: The Power Pivot in Crypto

Hello there you embodiment of curiosity;

Welcome to today's edition of Osiris News, if you’re staring at the charts and feeling a profound stillness, you’re not alone. The market is holding its breath. Bitcoin sits above $108,000, more standoff than surge, as Friday’s CPI looms, a print that could send us toward $120,000 or back to $100,000.

The story isn’t the surface calm; it’s the engine-room overhaul. This industry’s identity is being rewritten in concrete and copper: miners thinking in megawatts, regulators talking in payment rails. The pieces aren’t just moving, they’re changing shape.

🔍 Quick Overview

• AI Miners Ascendant: Bitcoin miners are pivoting to AI compute, pulling in billions as they become decentralized data-center powerhouses.

• ETF Engine Roars: Institutions are back, defending $108K and eyeing ~200 new crypto ETPs, another wave of on-ramps is coming.

• Bitcoin's CPI Test: BTC holds above $108K, but tomorrow’s CPI could set the trend as BTC/Gold hits historic lows.

• Altcoin Whirlwind: A split tape, Kadena shutters while EVAA and LIGHT rip; Ethereum and Uniswap advance key upgrades.

• Regulatory Crossroads: Congress weighs market structure, the Fed nods to DeFi, and Russia okays BTC for foreign trade, global integration accelerates.

Trending News

🌐📈 Bitcoin ETFs See $477M Inflow as Gold Drops 5.9%

U.S. spot Bitcoin ETFs recorded a $477.2 million net inflow on Tuesday, reversing recent outflows and signaling stabilizing institutional sentiment. This turnaround follows a period of over $1 billion in net outflows and coincides with a 5.9% intraday drop in gold. The renewed inflows suggest a potential rotation of capital from gold into Bitcoin, reinforcing crypto's role as an investment diversifier.

🏦🔄 Bitcoin Whales Swap Coins for Spot ETFs in Tax-Free Move

Large Bitcoin holders are converting their BTC into spot ETF shares via an "in-kind creation and redemption" process, enabled by a recent SEC policy change. This method allows direct swaps, bypassing taxable events from selling Bitcoin for cash. The shift offers tax efficiency and enhanced utility for large holders, signaling deeper integration of Bitcoin into mainstream finance.

🏛️🚀 Hong Kong Approves First Spot Solana ETF

Hong Kong's SFC has approved the ChinaAMC Solana ETF, marking the region's first spot Solana exchange-traded fund set to trade on October 27. JPMorgan analysts predict approximately $1.5 billion in net inflows for Solana ETFs in their first year. This approval reinforces Hong Kong's crypto-friendly stance and provides a regulated avenue for institutional investment in Solana.

📊🧠 Bitcoin Options Open Interest Tops Futures By $40 Billion

Bitcoin's options market has surpassed its futures market for the first time, with open interest approximately $40 billion greater than futures. This shift is driven by institutional players like BlackRock, whose IBIT platform became the largest Bitcoin options venue. The dominance of options indicates a maturing market structure, potentially leading to reduced price volatility and deeper integration into traditional finance.

This tiny pause brought to you by “please let this help pay the bills” 👀

Beyond the Noise

The biggest pivot is in mining. Once pure BTC proxies, miners are being re-rated as power-first infrastructure for AI. Galaxy Digital lined up $1.4B to convert Helios into an AI data center; Bitfarms raised $500M in converts for the same play. A 130% YTD surge in the Crypto Miners Index and CoreWeave’s $9B bid for Core Scientific underline it: capital now values megawatts and distributed footprints. The recent AWS US-EAST-1 outage reinforced the point, centralized clouds can stall; widely dispersed facilities keep humming.

That shift collides with public power priorities. British Columbia permanently blocked new mining hookups, a template others may copy as AI and crypto compete for the same electrons.

Meanwhile, Bitcoin itself is steady but conflicted. ETF flows snapped back with $477M in Monday inflows, yet technicians flag a possible “broadening top” that could target $60,000. At the same time, BTC’s valuation vs. gold has hit historic lows, rhyming with March 2020’s opportunity. Strong pulse, uneasy X-ray.

Divergence is everywhere. Kadena is shutting down; KDA crashed 60% in 90 minutes. EVAA ripped 138% as metrics caught up. Uniswap added Solana, a pragmatic bridge between deep liquidity pools, while Ethereum advances into the final testnet for its Dec 3 Fusaka upgrade.

Policy is thawing. Industry leaders are on Capitol Hill for market-structure talks. Fed Governor Christopher Waller called this a “new era,” floating skinny master accounts to let fintechs tap Fed rails and nodding to DeFi’s role. Abroad, Russia’s Finance Ministry and Central Bank agreed to legalize Bitcoin for foreign trade. The old walls aren’t falling, they’re getting gates.

This Caught My Eye:

Here’s a breakdown:

• Prediction markets boom: Cumulative trading volume in prediction markets has surpassed $33.6 billion, up from just $35 million in early 2023, according to CoinMarketCap data.

• Acceleration phase: The steepest growth began in late 2024, signaling surging interest in on-chain speculation platforms like Polymarket and Zeitgeist as users increasingly turn to decentralized markets for real-world event betting.

Looking Ahead

The market is mid-rewire: from abstract digital value to tangible power infrastructure. The miner→AI pivot offers cash-flow stories less tied to coin price, maturity by another name. But energy politics will sharpen, and near-term direction still bows to macro. Friday’s CPI will test whether this new foundation can absorb an old-world shock. The trade is shifting from price to power.

Until tomorrow,
- Dr.P