The US Bitcoin mining industry faces a significant tariff hit, with CleanSpark and IREN potentially liable for $185 million and $100 million, respectively, due to Chinese origin mining rigs. Transaction fees are below 1% of block rewards, and July production data shows IREN and Mara Holdings each mined over 700 BTC.

Polkadot launches a new capital markets division, Polkadot Capital Group, to attract institutional investors and showcase blockchain use cases. The move underscores the industry’s efforts to court Wall Street and explore crypto opportunities in asset management and banking. Polkadot is the 24th largest blockchain with a market cap of $6 billion.

China is reportedly considering approving yuan-backed stablecoins, signaling a major policy shift. This move could expand the currency’s role in global trade and marks a departure from the country’s previous ban on crypto trading and mining. Stablecoin adoption is surging, with the total value in circulation surpassing $288 billion.

SharpLink, a sports betting firm, adds 143,595 ETH to its treasury, totaling 740,760 ETH worth $3 billion. Despite this, BitMine remains the largest Ether treasury holder with 1.52 million ETH valued at $6.5 billion. ETH has corrected lower this week but remains a top performer, gaining nearly 200% since April.

Read more at Cointelegraph: Bitcoin Miners Hit by $100M Tariffs