「Insider Whale」 is gradually reducing its Bitcoin short position

According to monitoring by Onchain Lens, Grayscale transferred 572.9 BTC (valued at approximately $35.9 million) and 44,320 LINK (valued at roughly $391,000) from its Bitcoin Trust and Chainlink Trust wallets respectively to Coinbase Prime.

According to South Korean media reports, Bill Gates, co-founder of Microsoft and founder of next-generation nuclear energy firm TerraPower, held a series of meetings on the 14th with SK Group Chairman Choi Tae-won, HD Hyundai Group Chairman Chung Ki-sun, and other key South Korean political and business figures to discuss cooperation in areas including small modular reactors (SMRs) and power supply for artificial intelligence (AI). During his meeting with Choi, Gates discussed solutions to address the surging power demand from the growing adoption of AI data centers, the development direction of next-generation nuclear energy industry, and the possibility of U.S.-South Korea nuclear energy cooperation. SK and SK Innovation jointly invested a total of $250 million in TerraPower in 2022, becoming the company's second-largest shareholder. On the same day, SK Innovation and TerraPower signed a business cooperation agreement on sodium-cooled small modular reactors (sodium SMRs). Gates also met with Chung and Hyundai Engineering & Construction CEO Lee Han-woo to learn about the progress of the previously signed business agreements. In May this year, the three companies agreed to jointly promote the commercialization of sodium-cooled reactors and establish a division of labor structure.

According to market data from BIT (bit.com), Reddit’s stock price rose more than 13% to trade at $179.4. Earlier reports noted that S&P Dow Jones Indices announced Reddit (ticker: RDDT) will be officially added to the S&P 500 index ahead of the August 18 trading open, replacing the acquired AvalonBay Communities (ticker: AVB).

According to market data from BIT (bit.com), storage and optical communication stocks strengthened at the opening of the US stock market. Most optical communication concept stocks rose: Applied Optoelectronics (AAOI) gained 9.07%, Lumentum (LITE) climbed 4.57%, Corning (GLW) advanced 2.86%, and Coherent (COHR) increased 1.60%. The entire storage sector saw broad gains: SanDisk (SNDK) rose 6.15%, Seagate Technology (STX) gained 4.71%, Western Digital (WDC) climbed 4.57%, SK Hynix advanced 3.06%, and Micron Technology increased 2.30%.

According to market data from BIT (bit.com), U.S. stocks opened with the Dow Jones Industrial Average down 0.1%, the S&P 500 up 0.1%, and the Nasdaq gaining 0.16%. SanDisk (SNDK) rose 7% as the company forecasts mid-to-high double-digit revenue growth for fiscal years 2028 through 2030. Western Digital (WDC) and Micron Technology (MU) each climbed roughly 4%. Applied Materials (AMAT) fell 5% after the company released its prior earnings results.

According to Bloomberg, EdgeConneX, a data center operator backed by EQT, is seeking a credit line of up to $2.5 billion from banks to cover power-related costs for its data center projects. People familiar with the matter said the company is in talks with lenders including Natixis and BBVA, and the financing could be finalized as early as this month. The arrangement aims to help EdgeConneX lock in power supply for its data center projects. Data center developers typically need to pay large deposits to utility firms to build grid connection infrastructure such as transmission lines and substations, and letters of credit can reduce the cash tied up by developers while waiting for power access. Since EQT Infrastructure invested in EdgeConneX in 2020, the company’s completed data center capacity has more than tripled. As power supply emerges as a major bottleneck for data center expansion, an increasing number of developers are adopting similar financing tools. Switch recently secured $3.5 billion in bank commitments, while Blackstone-backed QTS is also in talks for at least $2 billion in related financing. Separately, EdgeConneX is also discussing up to $4 billion in debt financing for a data center project in Texas.