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Crypto Trends

Crypto Miner TeraWulf to Raise $3B in Google-Backed Debt Deal to Expand Data Centers

by admin September 28, 2025



Crypto mining firm TeraWulf (WULF) is planning to raise $3 billion in debt to expand its data center operations in a deal supported by Google, as the AI infrastructure arms race intensifies.

The company, Bloomberg reports citing TeraWulf CEO Patrick Fleury, is working with Morgan Stanley to arrange the funding, which could launch as early as next month through high-yield bonds or leveraged loans.

Credit rating agencies are evaluating the deal, and Google’s support may help it secure a stronger credit rating than would be typical for the firm.

The AI industry’s hunger for data center space, chips, and electricity has attracted crypto miners unlikely partners, which already control power-intensive infrastructure that can be repurposed for AI workloads.

Google, which recently increased its backstop for TeraWulf to $3.2 billion, now holds a 14% stake in the company. That support helped AI cloud platform Fluidstack expand its use of a TeraWulf-run data center in New York in August.

Other crypto-native firms are following suit. Cipher Mining struck a similar agreement with Google and Fluidstack this week. Google will also backstop $1.4 billion in obligations tied to that deal and take an equity stake in Cipher.

TeraWulf shares dropped around 1.3% in Friday’s trading session and were unchanged in after-hours trading.



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September 28, 2025 0 comments
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NFT Gaming

Cipher Stock Rises as Bitcoin Miner Boosts Debt Offering to $1.1 Billion Following Google Deal

by admin September 27, 2025



In brief

  • Cipher Mining on Friday announced it had upped the price of its convertible debt offering.
  • The Nasdaq-listed Bitcoin miner revealed a $3 billion AI hosting deal on Thursday, backstopped by Google.
  • Bitcoin miners are increasingly delving into the world of AI computing, as both require immense computing power.

Bitcoin miner Cipher Mining on Friday announced it had upped the price of its convertible debt offering, one day after revealing a $3 billion AI cloud hosting deal backstopped by Google.

The Nasdaq-listed miner said its convertible senior notes were now priced at $1.1 billion after initially being offered for $800 million.

The notes will be for “persons reasonably believed to be qualified institutional buyers,” and will be due in 2031. Senior notes are a form of debt a company can issue to investors. Convertible notes can be turned into company equity by the buyer. 



Cipher’s stock (CIFR) was trading up by nearly 5% on Friday at a price around $12.20 a share, after falling sharply on Thursday following an initial spike at the start of the trading. CIFR has nearly pulled even on the week after being significantly down earlier in the day.

The company on Thursday announced that it signed a 10-year, roughly $3 billion high-performance computing colocation agreement with Fluidstack. The deal will see Cipher deliver 168 MW of critical IT load, supported by a maximum of 244 MW of gross capacity, at its Barber Lake site in Colorado City, Texas.

As part of the deal, Google said it would backstop $1.4 billion of Fluidstack’s lease obligations to support project-related debt financing. In return, the tech giant will receive warrants to acquire approximately 24 million shares of Cipher common stock, or a 5.4% pro forma equity ownership stake.

In the Bitcoin mining world, companies use warehouses full of computers to process transactions on the crypto network. Because they’ve amassed so much computing power, some miners have pivoted their infrastructure to address growing AI demand.

Experts previously told Decrypt that while both industries use data centers, it can be difficult to make the swing from AI to crypto mining. 

Bitcoin miner TeraWulf announced in August that Google was providing an incremental $1.4 billion backstop to support project-related debt financing, upping its total stake to $3.2 billion. 

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September 27, 2025 0 comments
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Bitcoin May Benefit From US Debt, Ray Dalio Reveals How
NFT Gaming

Bitcoin May Benefit From US Debt, Ray Dalio Reveals How

by admin September 20, 2025


Ray Dalio, the founder of Bridgewater Associates, has sparked a conversation around Bitcoin and non-fiat assets. Dalio shared his views recently at the FutureChina Global Forum 2025. Speaking on the state of the U.S. economy, Dalio noted that gold and no-fiat currencies like Bitcoin could become more critical to financial stability.

Ray Dalio indirectly spotlights Bitcoin as safe-haven asset

Notably, the Bridgewater founder observed that across the globe, different governments are engaging in heavy borrowing. This trend increases the risk that fiat currencies face in terms of value. He believes these currencies will weaken over time and their values will drop.

This is a general progression when government-issued currencies like the U.S. dollar, euro, pound sterling or yen are printed to manage growing debt profiles. With countries dealing with too much debt and printing money, inflation is inevitable.

However, he implied that assets like gold and Bitcoin that are outside government control will naturally gain more relevance as a store of value. Their purchasing power will remain stable or even increase. Dalio foresees a future where many investors will turn to Bitcoin and other non-fiat currencies to protect their wealth.

Dalio encouraged smart investors to consider devoting about 10% of their portfolio to gold. This could also apply to Bitcoin and other crypto assets of their choosing. Given Bitcoin’s growth trajectory, the asset appears as a credible alternative to fiat currencies.

Despite its fluctuations and volatility, which scare many investors, Bitcoin has gained over 83% in the last year. The asset, which hit an all-time high (ATH) of $124,457.12 on Aug. 13, 2025, still flashes signs of upward movements.

As of press time, Bitcoin is trading down by 1.68% at $115,651.64. The trading volume has also dropped by 36.36% to $41.54 billion. Nonetheless, investors continue to bet on the future outlook of the coin.

Is institutional adoption fueling Bitcoin’s store-of-value narrative?

Institutional investors like Strategy, Metaplanet, Marathon Digital Holdings and Bullish, among others, continue to accumulate Bitcoin as a store of value.

Strategy, led by Michael Saylor, remains the most aggressive accumulator of the digital asset. As of the last count, the business intelligence firm now holds a total of 638,985 BTC. Saylor has continued to hold his “Bitcoin or nothing” stance in the face of growing criticism of his increased stockpiling.

While Dalio and others believe in the value of digital assets and non-fiat currencies, Peter Schiff, a gold advocate and Bitcoin critic, disagrees. Schiff argues that Bitcoin lacks the features of a true asset that could store wealth or value.



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September 20, 2025 0 comments
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A large Dragon Roach in Helldivers 2 looms in front of a soldier trying to shoot it down.
Product Reviews

As bugs and bad performance spoil an otherwise excellent Helldivers 2 update, Arrowhead CEO says its ‘technical debt is crippling’

by admin September 3, 2025



A major Helldivers 2 update is here, but somebody invited the wrong kind of bugs to the party. The Into the Unjust update takes the fight to Terminid strongholds, plunging Super Earth’s finest into cave systems guarded by acid-spitting bug dragons.

That’s all well and good, but a new wave of bugs (the software kind) is threatening to ruin the good times. Folks are reporting huge, inexplicable framerate drops before and during missions, others are crashing all over the place, and those new cave expeditions have introduced some annoying quirks, like a tendency to respawn on top of the level, where the only option is to fall to your death.

Helldivers 2’s technical state is bad enough that Arrowhead CEO Shams Jorjani spent hours yesterday responding to complaints in the Helldivers Discord, taking responsibility for the instability and explaining how Helldivers 2 has built up “technical debt” over time.


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“Performance is something we’ve talked about a TON today. It’s not good enough. A fix for some of the most immediate things is being prepped,” Jorjani responded to one fan.

“The technical debt is crippling,” he responded to another. “With the Xbox release behind us, we’ll be able to take a much better stab at it. Like a double stab. With a bigger knife.”

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(Image credit: Discord)(Image credit: Discord)(Image credit: Discord)

In games, tech debt is typically associated with technical problems increasing as a game grows more complex. That’s what Helldivers 2 is going through in a big way, according to Jorjani.

Compared to other games with regular update schedules, Helldivers 2 changes a lot: An average Apex Legends update may add a new character and map element, but Helldivers 2 receives new enemy types, weapons, maps, and missions every few months. It’s enough that a studio of any size would struggle to keep it squeaky clean, and Arrowhead isn’t particularly big.

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That said, Arrowhead isn’t making excuses. In a handful of responses, Jorjani reinforced that he considers the current state of the game unacceptable:

“We’ve been lax in setting standards for what’s fine.”

“This is us trying to get our shit in order: make fun content and keep tech afloat. [We’re] not quite there.”

When asked if Helldivers 2 is due for an “Operation Health” update that focuses solely on performance over content, Jorjani said he’d like to avoid that if possible.

“The way we want to operate is that every update is also a health update. But we didn’t hit the mark with this one.”

“We’d prefer not to have to do a performance-only update, but if that’s something that is needed, we’ll do it. But no one update will tackle all tech debt.”

For what it’s worth, I ran a few missions last night with minimal issues (no crashes or major framerate drops), so it’s not exactly unplayable at the moment, but other bugs that predate yesterday’s update have been grinding our gears, like one that causes audio to get horribly staticky and loud until the mission’s over.

Fingers crossed that the planned hotfix will squash the most pressing problems. Jorjani didn’t give a timeframe for such an update, but given the speed of past hotfixes, I’d be surprised if it didn’t arrive by the end of the week.

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September 3, 2025 0 comments
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Secure access, minimize tech debt: a browser-based strategy for the SaaS-driven enterprise

by admin August 29, 2025



There’s a silent strain on security in today’s enterprises, and it’s coming from an unexpected source: the technology stack.

Technical debt is a $2.41 trillion problem in the United States. No wonder, then, that 87% of IT leaders rank tech debt reduction as a top five initiative for their organization, according to a new Enterprise Strategy Group survey. Respondents cited security concerns, escalating operating costs, and more.

How did organizations get this deep into application tech debt? What are the implications for security? And, most importantly: How can organizations begin to dig their way out?


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A vicious cycle of short-term fixes

Tech debt is, at its core, the pain of applying yesterday’s technology decisions to today’s business needs.

Organizations frequently face trade-offs when it comes to technology. Most often, they find the best solutions for their complex problems, balancing network, security, and end-user priorities. Other times, they’re under pressure to move fast and constrained by limited resources, leading to quick fixes that complicate their tech stack.

This is how tech debt accrues, one well-intentioned decision at a time. As business demands intensify – whether due to growth, digital transformation, or external disruptions – IT and security teams make pragmatic choices and adopt point solutions to keep up.

But these bolt-on software purchases quietly snowball and mutate into an unmanageable web – eventually emerging loudly in the form of fractured IT infrastructure, inconsistent user experiences, ballooning operational costs, and unpredictable IT environments.

Not to mention, they make for a vastly increased attack surface. In this Swiss cheese effect of overlapping systems, the organization can spend more time patching holes and maintaining legacy scaffolding than innovating.

According to a Gartner survey of 162 large enterprises, conducted between August and October 2024, organizations use an average of 45 cybersecurity tools. It’s a vicious cycle of patch upon patch.

Time isn’t the only cost. Enterprise Strategy Group found that 47% of IT leaders point to escalating operational costs as a direct result of legacy infrastructure support. And 36% flagged increased security vulnerabilities as a growing concern tied to outdated systems.

Regardless of the justification for yesterday’s technology decisions, they all impact today’s enterprise systems—increasing complexity, maintenance burdens, and security vulnerabilities.

Tech debt has a SaaS problem

Most modern applications in use across the enterprise today are delivered in a SaaS model. For more than half of survey respondents, SaaS and legacy web-based applications represented a combined 61% of all application usage – the majority of those being classified as “business critical” apps.

In the enterprise, these critical apps require secure, modern access methods. However, to date, secure access has often come at the cost of convenience. Legacy access solutions like VDI and VPN weren’t designed with the SaaS-first enterprise in mind, creating friction for users, increasing overhead for IT teams, and offering limited visibility, control, or threat detection once users are inside the app.

Monitoring these apps requires bolted-on solutions, further increasing tech debt. Unsurprisingly, the number of respondents that indicated the desire to move off VDI solutions was a staggering 72%.

As SaaS adoption has accelerated, this mismatch between access architecture and application delivery has accelerated along with it—slowing agility, increasing risk, and complicating user experience across the board. Tech debt isn’t just a nuisance; it’s an anchor dragging down enterprise security and efficiency.

Addressing tech debt at the point of access

As knowledge workers’ primary interface, the browser is central to accessing SaaS, internal apps, and digital workflows. Therefore, the most direct way to address the application tech debt challenge is to reimagine the browser itself.

Browsers like Chrome and Edge, while highly effective tools for consumers, were never designed for enterprise needs. It presents a huge security gap: 62% of sensitive corporate data is accessed via consumer browsers, and 35% of data leaks stem from those same browsers.

These browsers require a complex ecosystem of tools – data loss prevention (DLP), web gateways, remote browser isolation (RBI), endpoint agents, VPNs, and more – to try to secure browsing activity and protect sensitive data. Over time, these layers have compounded, contributing to tech debt in both security and application access by requiring ongoing management, troubleshooting, and upgrades.

Further complicating the tech debt challenge is the proliferation of AI tools. In these early days of AI adoption, end users and the enterprises in which they operate will undoubtedly choose multiple tools to address niche use cases without understanding the impact on data protection and user experience. And fresh competition will replace many of these tools almost as fast as they arise. Future technology decisions will need to address managing the sprawl of shadow AI and the new tech debt it creates.

The emergence of enterprise browsers

However, a new type of browser has emerged: enterprise browsers, which are designed exclusively for use in the workplace. Gartner recognized this new category of browsers in 2023. In April, Evgeny Mirolyubov, Sr Director Analyst at Gartner, said, “SEBs embed enterprise security controls into the native web browsing experience using a customized browser or extension for existing browsers, instead of adding bolt-on controls at the endpoint or network layer.”

Enterprise browsers are redefining how organizations approach application access. An enterprise browser streamlines the tech stack needed to secure, manage, understand, and enable access to critical apps and data.

With growing regulatory scrutiny and the rising sophistication of threats like phishing, browser-based malware, and insider threats, organizations must rethink access with security at the forefront. Enterprise browsers provide visibility and control down to the session level, enabling proactive enforcement and rapid incident response.

These browsers have the power to reduce reliance on legacy tools like VDI, VPNs, DLP, proxies, and various endpoint agents—eliminating layer upon layer of tech debt and enabling secure, efficient, and scalable access.

Secure access without the debt

For too long, organizations have been trapped in a loop where old decisions constrain new possibilities. Years of layering legacy access tools, fragmented security controls, outdated application architectures, and siloed observability and authentication systems have created a complex web of technical debt—one that undermines performance, cybersecurity, and scalability at a time when seamless, secure, and cloud-optimized access is more critical than ever.

Finally, there’s an off-ramp from this loop. By reconsidering the browser, forward-thinking enterprises are not just reducing debt—they’re building resilience for the next generation of digital transformation.

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This article was produced as part of TechRadarPro’s Expert Insights channel where we feature the best and brightest minds in the technology industry today. The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc. If you are interested in contributing find out more here: https://www.techradar.com/news/submit-your-story-to-techradar-pro



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August 29, 2025 0 comments
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Philippines Congressman Proposes BTC Reserve to Attack National Debt

by admin August 25, 2025



A bill proposed in the Philippine Congress would create a government-run bitcoin (BTC )reserve that cannot be touched for two decades except to pay down the nation’s rising debt load, setting some of the strictest sovereign crypto storage rules yet.

The proposed Strategic Bitcoin Reserve Act, introduced by Rep. Miguel Luis R. Villafuerte, directs the Bangko Sentral ng Pilipinas (BSP) to purchase 2,000 BTC annually over five years for a total of 10,000 BTC.

“The State shall promote and maintain economic prowess, including monetary stability and the convertibility of the peso, especially in times of crisis. With the increasing role of cryptocurrency in the world’s financial system, it is imperative to enact measures aimed at diversifying our assets to ensure financial security,” the bill reads.

Villafuerte’s legislation stipulates that the holdings would be locked for 20 years, and during that period, bitcoin may only be sold or swapped for the purpose of retiring government debt. Once the holding period ends, the central bank governor would be restricted to offloading no more than 10% of the assets in any two-year window.

In January, the country’s Bureau of the Treasury reported that its national debt hit $285 billion, or 60% of its GDP.

Villafuerte wrote in the bill that he was inspired by commodity-style reserves such as the U.S. Strategic Petroleum Reserve or Canada’s maple syrup stockpile.

To ensure resilience, the country’s central bank would establish geographically dispersed cold-storage facilities across the country, audited quarterly through public cryptographic attestations and verified by independent third parties.

The bill says that forks and airdropped assets must also be retained for at least five years, and stresses that private ownership of BTC will not be infringed, with promises that citizens’ crypto holdings would not be subject to confiscation.



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August 25, 2025 0 comments
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State Street, J.P. Morgan Complete $100M Tokenized Debt Deal

by admin August 21, 2025



State Street, a Boston-based custody bank with $49 trillion in assets under its watch, is pushing deeper into digital assets by joining JPMorgan’s blockchain-based tokenized asset platform Digital Debt Service as the first third-party custodian.

The first transaction State Street anchored was a $100 million tokenized commercial paper issuance by the Oversea-Chinese Banking Corporation (OCBC), a Singapore-based banking group, according to a Thursday press release.

State Street Investment Management, the bank’s asset management arm, purchased the debt. J.P. Morgan Securities acted as placement agent.

The move comes as traditional finance heavyweights and global banks are getting increasingly involved in tokenization of financial instruments, or real-world assets (RWA), placing bonds, funds and credit on blockchain rails. The process promises operational benefits such as increased efficiency, faster and around-the-clock settlements and lower administrative costs.

The tokenized asset market could grow could balloon in the next few years, though projections vary from McKinsey’s $2 trillion by 2030 to Ripple and BCG’s almost $19 trillion by 2033.

By joining JPMorgan’s blockchain platform, State Street can now offer clients custody of tokenized debt securities without changing its traditional servicing model.

In this particular case, State Street manages client holdings in a digital wallet directly connected to JPMorgan’s system, eliminating manual steps in settlement and recordkeeping. The infrastructure supports delivery-versus-payment settlement, with the option for same-day (T+0) settlement, and automates corporate actions such as interest payments and redemptions through smart contracts.

“This launch reflects a meaningful step forward in our digital strategy — where we manage a digital wallet on-chain and lay the groundwork for interoperability across blockchain networks,” Donna Milrod, State Street’s chief product officer, said in a statement.

The bank pursued initiatives to tokenize a bond and a money market fund, Milrod said in October. The firm also selected Switzerland-based Taurus as a tokenization partner.

Read more: DBS Launches Tokenized Structured Notes on Ethereum, Expanding Investor Access



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August 21, 2025 0 comments
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