Bitcoin miner Riot Platforms (RIOT) reported on Tuesday strong production growth in May, mining 514 BTC — an 11% increase from April and a 139% jump compared to the year-ago level. The company sold nearly all the new bitcoin, generating $51.3 million in proceeds at an average price of $102,591 per token.

Riot’s hashrate also climbed, with total deployed computing power reaching 35.4 exahashes per second, a 5% increase over April and 142% higher than the previous year. Operating efficiency improved as well, with the fleet running at 21.2 joules per terahash — down from 28 J/TH last May.

Beyond mining, Riot is positioning itself for growth in the AI and high-performance computing (HPC) sectors. In May, the company closed the acquisition of 355 acres of land near its Corsicana facility in Texas. CEO Jason Les said the site will support the development of data centers tailored for enterprise and hyperscale clients, noting that these centers require significantly larger footprints than traditional mining operations.

To lead this effort, Riot hired industry veteran Jonathan Gibbs as Chief Data Center Officer. The move signals Riot’s ambition to diversify beyond bitcoin and into the fast-growing market for AI-ready infrastructure.

RIOT shares are higher by 3.4% in Tuesday trading.

SUI SUI, the native token of the layer-1 blockchain, broke out from consolidation, climbing from $3.27 to $3.39, showing 5.2% volatility range amid increased trading volume earlier on Tuesday.

Geopolitical tensions and ongoing trade disputes between major economies are creating market uncertainty, with SUI’s price action reflecting broader market sentiment.

Recent price consolidation near $3.31 suggests accumulation phase completion, with higher lows forming a bullish structure despite minor pullbacks.

Global trade disputes and economic policy shifts are creating ripples across cryptocurrency markets, with SUI experiencing notable price action as investors navigate uncertain waters. The token’s recent breakout from a consolidation phase demonstrates resilience amid broader market volatility, with support levels forming at $3.29-$3.30 after previously acting as resistance. Meanwhile, Sui Network’s technological advancements continue to attract attention, with its focus on scalability and Web3 integration positioning it uniquely within the blockchain ecosystem.

Technical Analysis

• SUI exhibited a notable 5.2% volatility range ($0.17) over the 24-hour period.
• Key resistance established at $3.37-$3.39 backed by above-average volume of 14.6 million.
• Support levels formed at $3.29-$3.30, which previously acted as resistance before being breached.
• Price action suggests accumulation phase completion with higher lows forming a bullish structure.
• The token erased some of its gains during U.S. morning hours, trading at $3.30 at press time.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Symbiotic, a universal staking protocol and EigenLayer rival, has launched Relay, a software development kit (SDK) that allows protocols to stake assets on Ethereum and verify that stake across any blockchain.

Staking is a system for securing blockchains in exchange for rewards. In staking systems, so-called validators commit callateral — called «stake» — for a role in processing transactions. «Restaking» protocols like Symbiotic let users reuse stake across multiple blockchains at once, offering investors the opportunity to earn extra yield.

Relay is, in essence, a generalized version of Symbiotic’s restaking tech — a toolkit that can bring Symbiotic-style restaking to virtually any crypto ecosystem. According to the Symbiotic team, the tech lets developers build verifiable, secure coordination layers for decentralized applications (dApps) across multiple chains.

Under the hood, the SDK plugs developers into the Symbiotic network. From there, developers may configure networks to use stake on one blockchain to verify activity on another.

“This makes it easy to build bridges, oracles, rollups, or risk protocols that are secured by real stake and verifiable anywhere their users are, without having to bootstrap a validator set, trust a multisig, or sacrifice decentralization,” the team wrote in a press release. “For users, this means multichain applications which were previously bespoke designs, fragmented, or complex, can now be easily built with verifiable security from day one.”

The rollout of Relay was a central part of Symbiotic’s recent $29 million Series A funding round led by Pantera Capital. The round included participation from Coinbase Ventures and a cohort of over 100 angel investors.

“Until now, building a secure multichain protocol meant choosing between trusted relayers or expensive, bespoke infrastructure,” said Algys Ievlev, co-founder of Symbiotic. “Relay solves that. It gives builders a way to use real stake to verify real outcomes across chains without making tradeoffs on cost, security, or developer experience. We believe this will become the default way protocols coordinate across chains.”

Read more: Pantera Leads $29M Funding for EigenLayer Rival Symbiotic to Expand Staking Play