Crypto Currents: American Bitcoin hits 7,000 bitcoin milestone

The close of the first quarter brought a wave of institutional expansion and corporate rebranding, as major infrastructure operators and global brokers moved to solidify their presence in the digital asset market. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.

BITFARMS ACHIEVES RECORD SEVENTY TWO PERCENT REVENUE GROWTH AHEAD OF REBRAND: Digital asset infrastructure operators are reporting strong fiscal performance as they transition to new corporate identities. Bitfarms reported FY25 revenue of $229M, representing a 72% increase compared to the prior year. The company is currently advancing its strategic plan to rebrand the entire organization as Keel Infrastructure, with the change effective April 1. This maturation of the infrastructure sector is being reflected in broader regulatory filings, with firms like Bitcoin Infrastructure Acquisition hypd-20251231x10k.htm” target=”_blank”>Hyperion DeFi (HYPD) also finalizing their annual reports to close the quarter.

AMERICAN BITCOIN CROSSES SEVEN THOUSAND COIN MILESTONE AS CORPORATE TREASURIES EXPAND: Corporate balance sheets continue to aggressively accumulate digital commodities despite broader market volatility. American Bitcoin made a post to X, announcing it has surpassed the 7,000 bitcoin (BTC-USD) milestone, nearly tripling its reserves since its Nasdaq debut. Other firms are also disclosing significant holdings; Ton Strategy announced it now holds 219.7M toncoin (TON-USD) with a fair value of $356.8M, while a press release out of Hyperscale Data IBKR“>(IBKR) has launched trading for individual investors in the European Economic Area, offering access to 11 tokens including solana (SOL-USD), XRP (XRP-USD), dogecoin (DOGE-USD), and cardano (ADA-USD). Domestically, Galaxy Digital announced the launch of solana staking for U.S. clients on its GalaxyOne platform, offering estimated rewards of 6.50%. This expansion occurs as institutional giants rebalance their underlying holdings; Lookonchain detected that BlackRock deposited 3,061 bitcoin and 35,642 ether (ETH-USD) into Coinbase Prime (COIN) for custody rebalancing.

PRICE ACTION: As of time of writing, bitcoin was trading at $67,130.17, while ether was trading at $2,071.93, according to price data from TipRanks.