Welcome to This Week in Crypto, where we break down the biggest headlines shaping the digital asset space. From rising mining benchmarks to major treasury moves and surprise celebrity returns, here’s what’s been making news this week:
Here’s a quick look at what’s new:
- Bitcoin mining difficulty hits new all-time high: Difficulty jumped to 142.3 trillion, making mining more intensive. New hardware and strong prices are helping large operations stay online.
- Metaplanet becomes fifth-largest corporate BTC holder: The Japan-based firm now holds over 25,000 Bitcoin after a $633 million buy and is expanding its crypto footprint with new business units.
- Kevin Durant recovers long-lost Bitcoin wallet: Nearly a decade after losing access to his Coinbase account, the NBA star finally regained control of his BTC, and sparked conversation around crypto account recovery.
Let’s take a closer look at what it all means for the crypto space this week!
Bitcoin Mining Difficulty Reaches New Record High
Bitcoin’s mining difficulty has reached an all-time high of 142.3 trillion, rising nearly 30% since the start of the year. This increase means it’s now more challenging and energy-intensive to mine new Bitcoin. Despite the added pressure, many miners are staying online, helped by recent price levels and improvements in mining technology.
- Mining difficulty adjusts every 2,016 blocks to keep block times around 10 minutes, and the current hashrate has also hit a record high.
- Higher difficulty may push out less efficient miners, while larger operations with better equipment and cheaper power remain competitive.
- Newer mining hardware uses electricity more efficiently, which helps offset the costs of operating under higher difficulty levels.
As long as Bitcoin’s price remains strong, many mining operations are likely to continue running. The increase in difficulty is also seen as a sign of a secure and growing network.
Metaplanet Becomes Fifth-Largest Corporate Bitcoin Holder
Japanese company Metaplanet has purchased 5,419 more Bitcoin, making it the fifth-largest corporate holder of BTC in the world. The company now holds a total of 25,555 BTC, valued at nearly $3 billion. This major purchase comes as Metaplanet continues to build its Bitcoin-focused strategy.
- The latest 5,419 BTC purchase cost about $633 million, averaging around $117,000 per coin.
- The company also launched two new subsidiaries this month to support its Bitcoin operations in Japan and the U.S.
- It plans to raise $1.44 billion by issuing new shares to expand its Bitcoin business.
Metaplanet is launching new branches in both the U.S. and Japan to support its crypto goals. Despite short-term pressure, the company is sticking with its long-term Bitcoin strategy.
Kevin Durant Recovers Lost Bitcoin After Nearly a Decade
NBA star Kevin Durant has regained access to a long-lost Coinbase account nearly 10 years after first buying Bitcoin. The story came to light during a conference appearance this week, and Coinbase CEO Brian Armstrong confirmed the successful recovery on social media. Durant first explored Bitcoin around 2014–2015, but lost access shortly after.
- Durant’s early Bitcoin investment remained untouched for years, reportedly never being sold.
- The price of Bitcoin has grown from around $1,000 in 2016 to around $115,000 today.
- News of Durant’s recovery drew attention to Coinbase’s customer support, with some users sharing their own account access issues.
Although the full amount of Durant’s Bitcoin hasn’t been shared, the long hold likely resulted in significant gains. The story also sparked broader discussion around account security and customer support in the crypto space.
