{"id":51877,"date":"2025-08-12T11:08:52","date_gmt":"2025-08-12T15:08:52","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/"},"modified":"2025-08-12T11:08:52","modified_gmt":"2025-08-12T15:08:52","slug":"financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/","title":{"rendered":"Financial Markets Digest: Fed Holds Steady, Tesla Shifts AI Strategy, Crypto Firm Expands ETH Holdings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#Federal_Reserve_Maintains_Hawkish_Stance_Amid_Succession_Speculation\" >Federal Reserve Maintains Hawkish Stance Amid Succession Speculation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#Tesla_Abandons_Dojo_Supercomputer_Project\" >Tesla Abandons Dojo Supercomputer Project<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#BitMine_Immersion_Boosts_Ethereum_Holdings_with_Expanded_Stock_Sale\" >BitMine Immersion Boosts Ethereum Holdings with Expanded Stock Sale<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#EDF_Nuclear_Reactors_Offline_Due_to_Jellyfish_Swarm\" >EDF Nuclear Reactors Offline Due to Jellyfish Swarm<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#Oklo_Selected_for_Department_of_Energy_Nuclear_Pilot_Program\" >Oklo Selected for Department of Energy Nuclear Pilot Program<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/financial-markets-digest-fed-holds-steady-tesla-shifts-ai-strategy-crypto-firm-expands-eth-holdings\/51877\/#US-EU_Trade_Tensions_Continue_with_New_Tariffs\" >US-EU Trade Tensions Continue with New Tariffs<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Federal Reserve Bank of Kansas City President Jeff Schmid<\/strong> affirmed that a <em>modestly restrictive monetary policy stance<\/em> remains appropriate due to solid economic momentum and inflation remaining above target, suggesting tariffs&#39; limited impact on inflation supports holding rates steady.<\/li>\n<li><strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> has <em>terminated its ambitious Dojo supercomputer project<\/em>, marking a significant strategic pivot towards focusing on its AI5 and AI6 chips, which will be produced in collaboration with Samsung.<\/li>\n<li><strong>BitMine Immersion (<a href=\"\/stock\/BMNR\">BMNR<\/a>)<\/strong> dramatically expanded its stock sale program to <strong>$24.5 billion<\/strong> to fund further Ethereum (<a href=\"\/stock\/ETH\">ETH<\/a>) acquisitions, solidifying its position as the <em>largest corporate ETH treasury globally<\/em> with holdings exceeding <strong>1.15 million tokens<\/strong> valued at approximately <strong>$4.96 billion<\/strong>.<\/li>\n<li><strong>Electricite de France (EDF)<\/strong> was forced to shut down <em>four nuclear reactors<\/em> at its Gravelines plant, totaling <strong>3.6 gigawatts<\/strong> of generating capacity, after a &quot;massive and unforeseen&quot; swarm of jellyfish clogged cooling water filters.<\/li>\n<li><strong>Oklo Inc. (<a href=\"\/stock\/OKLO\">OKLO<\/a>)<\/strong> was selected for a <strong>Department of Energy (DOE) nuclear pilot program<\/strong>, a move that aims to accelerate the deployment of advanced nuclear reactors and bolster domestic fuel independence.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_Maintains_Hawkish_Stance_Amid_Succession_Speculation\"><\/span>Federal Reserve Maintains Hawkish Stance Amid Succession Speculation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Federal Reserve Bank of Kansas City President Jeff Schmid stated on Tuesday that the current &quot;modestly restrictive&quot; monetary policy stance is <em>still appropriate<\/em> given the economy&#39;s continued momentum, growing business optimism, and inflation remaining above the Fed&#39;s objective. Schmid emphasized a patient approach to changing the policy rate and noted that the limited effect of tariffs on inflation supports holding rates steady rather than cutting them. He indicated a willingness to adjust his views only if there is evidence of a significant drop in demand growth.<\/p>\n<p>Meanwhile, Wall Street analysts, according to CNBC, are still anticipating three Federal Reserve interest rate reductions before the end of the year. Separately, reports indicate that <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration officials are broadening their search for a potential replacement for Federal Reserve Chair Jerome Powell, whose term ends in May 2026. Among the new candidates reportedly under consideration are current Fed Vice Chairs Philip Jefferson and Michelle Bowman, and Dallas Fed President Lorie Logan. Treasury Secretary Scott Bessent is leading the search, with President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> expected to announce his choice this fall.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tesla_Abandons_Dojo_Supercomputer_Project\"><\/span>Tesla Abandons Dojo Supercomputer Project<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>) has made a significant strategic shift by terminating its in-house supercomputer project, Dojo. The system, designed for AI training to enhance Autopilot and Full Self-Driving (FSD) functions, was built around Tesla&#39;s own D1 chip. CEO Elon Musk explained that it &quot;doesn&#39;t make sense for Tesla to divide its resources and scale two quite different AI chip designs,&quot; and the company will now focus on developing its AI5 and AI6 chips, which are currently in development and manufactured by Samsung.<\/p>\n<p>The decision follows reports of unrest within the Dojo team, with approximately 20 employees leaving to form a new AI startup called DensityAI, and the departure of Dojo team leader Peter Bannon. Remaining Dojo workers are being reassigned to other data center and compute projects within Tesla. This move signals Tesla&#39;s increased reliance on external technology partners, including Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) and Advanced Micro Devices (<a href=\"\/stock\/AMD\">AMD<\/a>) for compute, and Samsung Electronics for chip manufacturing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BitMine_Immersion_Boosts_Ethereum_Holdings_with_Expanded_Stock_Sale\"><\/span>BitMine Immersion Boosts Ethereum Holdings with Expanded Stock Sale<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BitMine Immersion Technologies (<a href=\"\/stock\/BMNR\">BMNR<\/a>) has announced a substantial expansion of its stock sale program, raising its capacity to <strong>$24.5 billion<\/strong> to facilitate further acquisitions of Ethereum (<a href=\"\/stock\/ETH\">ETH<\/a>). This aggressive strategy has positioned BitMine as the <em>largest corporate Ethereum treasury globally<\/em>, with its ETH holdings now exceeding <strong>1.15 million tokens<\/strong>, valued at approximately <strong>$4.96 billion<\/strong> as of August 10th.<\/p>\n<p>The company&#39;s rapid accumulation of Ethereum began with its ETH Treasury strategy launched on June 30th, swiftly surpassing key milestones. BitMine&#39;s stock has seen significant gains, surging 62% overall after building the world&#39;s largest listed corporate Ethereum treasury. The firm is supported by a premier group of institutional investors, including ARK&#39;s Cathie Wood and Bill Miller III, as it pursues its goal of acquiring 5% of all ETH.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EDF_Nuclear_Reactors_Offline_Due_to_Jellyfish_Swarm\"><\/span>EDF Nuclear Reactors Offline Due to Jellyfish Swarm<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Electricite de France (EDF) has been forced to shut down <em>four atomic reactors<\/em> at its Gravelines power plant, located on the north coast of France. The shutdown, which occurred on Sunday and Monday, was caused by a &quot;massive and unforeseen&quot; swarm of jellyfish that clogged the filter drums of the plant&#39;s seawater pumping stations, essential for cooling the reactors.<\/p>\n<p>The incident temporarily removed <strong>3.6 gigawatts<\/strong> of generating capacity from service. EDF stated that the safety of the plant, its employees, and the environment was not at risk. The company expects the reactors to return to service later this week. Scientists suggest that warmer waters in the North Sea, intensified by marine heat waves, contribute to jellyfish blooms, which have caused similar disruptions at nuclear facilities in other countries previously.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Oklo_Selected_for_Department_of_Energy_Nuclear_Pilot_Program\"><\/span>Oklo Selected for Department of Energy Nuclear Pilot Program<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oklo Inc. (<a href=\"\/stock\/OKLO\">OKLO<\/a>), an advanced nuclear technology company, has been selected for a <strong>Department of Energy (DOE) nuclear pilot program<\/strong>. This initiative, issued pursuant to Executive Order 14299, aims to accelerate the deployment of advanced nuclear reactors and eliminate America&#39;s reliance on foreign sources of enriched uranium.<\/p>\n<p>Oklo&#39;s selection underscores a broader U.S. nuclear energy revival, driven by regulatory streamlining and executive orders prioritizing nuclear energy. The company is developing fast fission power plants and is focused on nuclear fuel recycling, which includes converting nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant and has secured fuel for its first commercial facility.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US-EU_Trade_Tensions_Continue_with_New_Tariffs\"><\/span>US-EU Trade Tensions Continue with New Tariffs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Trade tensions between the United States and the European Union persist, with the EU set to impose additional duties on a range of U.S.-origin products. These countermeasures, in some cases up to <strong>30 percent<\/strong>, are in response to Washington&#39;s renewed and expanded Section 232 tariffs on items such as steel, aluminum, and vehicles, which are capped at <strong>15 percent<\/strong> on most goods.<\/p>\n<p>While a July 27 trade framework agreement between President Donald Trump and European Commission President Ursula von der Leyen initially defused an immediate tariff spiral, the absence of a binding legal text leaves room for further negotiations and conflicting interpretations. The newly announced EU duties will phase in from August 2025 to February 2026, potentially impacting supply chains by increasing landed costs and influencing sourcing decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Federal Reserve Bank of Kansas City President Jeff Schmid affirmed that a modestly restrictive monetary policy stance remains 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