Nvidia’s $20B Bond Sale Spurs Bitcoin Miners to Build AI Infrastructure Businesses

Bitcoin mining is increasingly shifting from pure exposure to BTC price moves toward building businesses around electricity, compute supply chains, and AI-related infrastructure, as miners look to use data center capabilities for AI workloads.

“Andrew Ye, Global X ETFs — 8-minute read The infrastructure of financial markets is evolving”

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The change is being reinforced by signals from outside crypto, including a report that Nvidia is seeking to raise $20 billion through a bond sale to fund additional AI expansion.

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In parallel, Token Terminal says tokenized real-world assets have surpassed $43 billion in total value of onchain financial assets, with a 37% increase over six months.

Cointelegraph adds that Standard Chartered expects tokenization to help drive decentralized finance toward a $2.7 trillion market capitalization by 2030, while Citigroup projects tokenized RWAs could reach $5.5 trillion over the same period.

The same KuCoin report frames the watchpoint as whether AI hosting demand continues to absorb capacity fast enough to offset ongoing mining margin compression.

Even as the broader cryptocurrency market struggles, Token Terminal reports that the total value of onchain financial assets has surpassed $43 billion and that tokenized funds account for nearly 80% of all onchain financial assets.

CoinMarketCap’s alternative framing highlights divergence, saying tokenized real-world assets posted 13.5% growth over 30 days as the broader cryptocurrency market lost approximately $1 trillion in value.

CoinMarketCap

CoinMarketCap’s alternative report also says tokenized U.S. Treasurys and government debt remain the largest RWA category with more than $10 billion in outstanding on-chain products.

Bitget shifts the competitive map to Solana, reporting 285,971 RWA wallets as of June 18 and saying Solana’s RWA holder base grew by 29.3% in the last 30 days.

Bitget further notes that Ethereum is still the leader in total distributed asset value at $16.3 billion, more than five times bigger than Solana’s $3.0 billion, while Solana’s transfer volume reached $5.5B during the same 30-day period.

Ripple is expanding its payments footprint in Africa through an investment in Flutterwave, with the deal valuing the fintech at $3.3 billion and connecting Ripple’s RLUSD stablecoin, Ripple Payments platform, and XRPLedger infrastructure with Flutterwave’s payments reach.

“The divergence highlights institutional interest in yield-bearing digital securities even during periods of significant market stress”

CoinMarketCap

Cointelegraph says Flutterwave operates across 35 countries, and it frames the partnership as another step in Ripple’s push to expand its payments network across Africa where demand for faster and lower-cost cross-border transfers is increasing.

Separately, Cryptonews.net reports that Coinbase Ventures’ Base Ecosystem Fund backed RWA tokenization protocol Multipli in an undisclosed deal announced on June 18.

The KuCoin report also ties the crypto business cycle to legal fallout, saying former FTX CEO Sam Bankman-Fried’s attempt to overturn his fraud conviction has failed, according to an appeals panel in Manhattan.

Cointelegraph quotes Circuit Judge Barrington Parker writing that “he was simultaneously using FTX as his own personal piggy bank,” and it adds that Bankman-Fried was convicted on fraud and conspiracy charges tied to FTX’s collapse and sentenced to 25 years in prison in 2024.