Stablecoin issuer Tether increased its bitcoin holdings to 92,646 BTC, adding 8,888 BTC for $735 million in the first quarter of 2025.

The company is staying true to its plan to put 15% of its profits each quarter into additional bitcoin purchases. Its current bitcoin stack is worth $7.7 billion at bitcoin’s current price just above $83,000.

Tether’s USDT stablecoin is the world’s largest with a $143 billion market cap. The company raked in $13 billion in profits last year, mostly from interest on its vast holdings of U.S. Treasuries backing USDT.

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2551.25, up 1.5% (+38.08) since 4 p.m. ET on Monday.

Nineteen of the 20 assets are trading higher.

Leaders: SUI (+4.6%) and AVAX (+3.4%).

Laggards: POL (-0.3%) and APT (+0.7%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Hut 8’s (HUT) new subsidiary, American Bitcoin Corp., a partnership between the mining company and the Trump family, could be spun out, allowing the company to focus on data center hosting, broker Clear Street said in a report Monday.

The broker noted that the new unit will be included in the bitcoin miner’s financials, but the «businesses could be separated, allowing HUT to focus on high-margin data center hosting revenue.»

Hut 8 is expected to secure more power and expand its data center hosting business, the report said, and the «potential to secure a hyperscaler» is a key catalyst for the company.

Eric Trump and Donald Trump Jr. are merging their firm, American Data Centers, with American Bitcoin, a new mining venture, taking a 20% stake in the company. The remaining 80% will be owned by Hut 8, which is contributing almost 61,000 mining machines to the new entity.

Core Scientific’s (CORZ) deal with cloud computing firm CoreWeave led to a re-rating of the sector last year, as investors warmed to the idea of bitcoin miners pivoting to artificial intelligence and high performance computing (HPC).

Hut 8 is projected to enter a phase of considerable growth, starting in the second half of the year, «driven by the energization of the BITMAIN Colocation agreement,» the report added.

Clear Street has a buy rating on Hut 8 shares with a $23 price target. The shares were over 4% higher at $12.10 in early trading.

Investment bank KBW noted that Eric Trump will serve as the chief strategy officer of American Bitcoin, which could be a large positive given his «commitment to the industry as well as his obvious relationships.»

KBW has an outperform rating on the stock with a $30 price target.