Micron Posts Record $41.46B Quarter, China Tops Supercomputing as Bitcoin Holds $61K

Crypto News

Memory-chip giant Micron Technology delivered fiscal third-quarter results that blew past Wall Street expectations, posting revenue of $41.46 billion against consensus near $35.59 billion and adjusted earnings of $25.11 per share versus the $20.60 analysts had penciled in. Adjusted gross margin reached 84.9%. Cloud memory revenue surged to $13.77 billion while core data-center sales hit $11.52 billion, both crushing forecasts as demand for high-bandwidth memory used in AI accelerators accelerated. Management guided fourth-quarter revenue to between $49 billion and $51 billion and warned that AI-driven supply tightness could persist beyond 2027. Shares rose after hours, a fresh signal that the AI infrastructure build-out tracked by Bitcoin miners and AI-focused projects remains intact.

China reclaimed the top spot in global supercomputing for the first time since 2017, as a Shenzhen-based system named LineShine displaced the United States’ El Capitan atop the latest TOP500 ranking. Housed at a national supercomputing center, the machine clocked 2.198 exaflops, meaning it can run more than two quintillion calculations per second, while drawing roughly 42.2 megawatts and relying entirely on conventional processors rather than the GPUs that dominate AI workloads. The milestone landed alongside broader signs of China’s manufacturing edge, including battery maker CATL’s claim of a cell that can charge an electric vehicle for 250 miles in about ten minutes.

Prediction-market operator Kalshi will not go public this year, chief executive Tarek Mansour confirmed, even as annual revenue topped $2 billion and the company’s private valuation reached $22 billion. That revenue figure is roughly triple where the firm stood in November 2025, driven largely by sports contracts: monthly trading volume hit $16.81 billion in May, up 13.5% from April, and the platform logged $5.1 billion in spot volume during the World Cup’s opening week. Institutional volume grew 800% over six months. Kalshi has raised $2.685 billion across five rounds since June 2025, but fresh state lawsuits — including one filed by Kentucky this week — keep regulatory pressure high.

A Hong Kong district court rejected a defendant’s claim that his funds came from selling Bitcoin, convicting Xiao Rui of laundering more than HK$64 million through covert banking channels. The 37-year-old son of a former mainland anti-corruption official faces sentencing on July 23 after being found guilty on four money-laundering counts and one of using a forged document. Between 2014 and 2023, roughly 38 transactions flowed into his personal accounts from at least 12 companies and 12 individuals with no business ties to him. The judge dismissed the crypto explanation, noting Xiao produced no transaction dates, reference numbers, or wallet addresses to substantiate it.

Bearish bets against Elon Musk’s SpaceX intensified as short interest jumped from 8% to 13% of the freely traded float in a single session, according to analytics data. The stock has slumped nearly 30% from its post-listing peak of $225.64 reached days after its June 12 debut, sitting well below that all-time high, and the company’s market value slipped below $2 trillion for the first time since it began trading. Across three sessions, SpaceX shed close to $600 billion amid a broader technology rout that briefly wiped over $1 trillion from the Nasdaq 100. Roughly 40 million shares now sit in short positions as borrowing costs stay low.

Anthropic moved deeper into the enterprise with Claude Tag, a Slack integration that lets teams mention @Claude in channels and hand off tasks to an always-on AI agent. The tool replaces the company’s existing Slack app, builds context over time by following channel threads, and offers an optional autopilot mode that lets the assistant act without being tagged. Administrators can scope data access, cap token spending per channel, and audit every action. Anthropic says 65% of its product team’s code is now written with an internal version. The launch sharpens a race among AI firms and feeds demand for agentic tooling that increasingly overlaps with AI trading bots and on-chain automation.

Taken together, these stories trace a single fault line: capital is pouring into AI compute — Micron’s record memory sales, China’s exaflop milestone, Anthropic’s enterprise push — even as speculative risk assets buckle. That divergence is stark in COINOTAG’s own aggregate data. Bitcoin trades near $61,000, the total crypto market capitalization sits around $1.73 trillion, and our Fear & Greed Index reads 17, deep in Extreme Fear. With Bitcoin dominance at 70.2%, altcoins are absorbing the heaviest losses, while debates over reserve design — from fiat-backed tokens to algorithmic stablecoins — underscore how investors are rethinking where safety actually lives in a tightening macro backdrop.