Daily Brief: August 19, 2025
Monero Attacked, Ethereum Stash, Bitcoin Boost
Monero faced a 51% attack from the Qubic mining pool, raising concerns about blockchain security. Despite this, Monero's price showed resilience. Qubic now plans to target Dogecoin, sparking further market anxiety. Meanwhile, BitMine has amassed a $6.6 billion Ethereum stash, aiming to control 5% of ETH supply, showing strong belief in its future value. Metaplanet increased its Bitcoin holdings, reflecting confidence in Bitcoin as a treasury asset despite price drops. These moves highlight shifting strategies in cryptocurrency investments and their impact on financial markets.
🚨 Monero Faces 51% Attack Amid Qubic's PoW Shift
Kraken has temporarily paused Monero deposits after the Qubic mining pool, led by IOTA co-founder Sergey Ivancheglo, carried out a 51% attack. This type of attack can censor transactions and enable double spending, posing a threat to Monero's blockchain integrity. Despite this setback, Monero's price has shown resilience, bouncing back to around $265.
The Qubic community has now voted to target Dogecoin for a similar 51% attack. This decision comes on the heels of their successful attack on Monero and underscores ongoing security challenges in proof-of-work blockchains. Following the announcement, Dogecoin's price fell by 4%, reflecting market concerns.
Qubic plans to use Dogecoin's mining profits, estimated at $2.3 million daily, to fund AI development. This approach aims to transform traditional mining into productive computations for AI, aligning with Qubic's goal of advancing Artificial General Intelligence.
Why it matters: These events underscore the vulnerabilities in blockchain security and highlight the potential for innovative uses of mining energy, impacting both cryptocurrency markets and AI development.
💰 BitMine's Ethereum Stash Hits $6.6B
BitMine Immersion Technologies, under the leadership of Tom Lee, has accumulated over 1.5 million Ethereum (ETH), making it the second-largest corporate crypto treasury. This significant collection has boosted its total crypto holdings to more than $6.6 billion. BitMine's goal is to control 5% of Ethereum's total supply, showing a strong belief in ETH's future value.
The company's stock is among the most actively traded in the U.S., with an average daily trading volume of $6.4 billion. Despite a recent 4.37% drop in stock price, BitMine's shares have soared 775% over the past six months. This surge reflects strong investor confidence, bolstered by institutional support from major players like ARK Invest.
Recently, BitMine's stock fell 7% following a broader decline in Ethereum prices. This drop underscores the close link between crypto prices and the valuation of companies holding digital assets. Despite this volatility, BitMine's strategic focus on Ethereum highlights its belief in blockchain's transformative potential.
Why it matters: BitMine's significant Ethereum accumulation and institutional support highlight growing confidence in Ethereum's role in future finance, emphasizing blockchain's expanding influence.
📈 Metaplanet Boosts Bitcoin Holdings Amid Market Fluctuations
Metaplanet, often likened to MicroStrategy, has boosted its Bitcoin holdings by purchasing an additional 775 BTC. This acquisition raises their total to 18,888 BTC, positioning them as the seventh-largest Bitcoin holder worldwide. Despite a recent 7% drop in Bitcoin prices, Metaplanet's strategic decisions have led to a strong financial performance, with a 41% revenue increase in Q2 2025.
The company's bold Bitcoin acquisition strategy has been rewarding, with their Bitcoin reserves now valued at approximately $2.18 billion. Metaplanet's financial recovery is clear, as they reported a Q2 2025 profit of ¥17.4 billion. Their approach mirrors a broader trend in Asia, where companies are integrating Bitcoin into their treasury strategies amid clearer regulations.
Metaplanet's strategy shows growing confidence in Bitcoin as a treasury asset, even as prices fluctuate. Alongside other major buyers like Strategy, which has also increased its holdings, Metaplanet's actions highlight a shift in corporate treasury management. This trend is encouraging the development of new financial instruments designed for Bitcoin exposure, marking its path toward mainstream acceptance.
Why it matters: Metaplanet's strategic Bitcoin accumulation highlights how companies can use cryptocurrency to strengthen financial positions and investor confidence, especially during volatile market conditions.