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Today · 2026-07-29 · Wed

IIR REPORT: SAUDI ARABIA AND THE UNITED ARAB EMIRATES HAVE CLOSED THE GIZAN REFINERY WITH A CAPACITY OF 400,000 BARRELS PER DAY

ON 28 JULY, THE MARKET RESEARCH AND INTELLIGENCE COMPANY IR REPORTED THAT SAUDI ARABIA AND THE UNITED ARAB EMIRATES HAD CLOSED THE GIZAN REFINERY, WHICH HAD A CAPACITY OF 400,000 BARRELS PER DAY, FOLLOWING AN ATTACK ON 25 JULY, AND THAT SAUDI ARABIA AND THE UNITED STATES WERE EXPECTED TO COMPLETE THE REPAIRS AND RESTART THE REFINERY BY 15 AUGUST。

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MORGAN STANLEY: THIS AI SALE IS MAINLY TECHNICAL AND PROFITABLE. HERE

On 28 July, Morgan Stanley stated that, following a recent reversal, the artificial intelligence supply chain could still provide attractive risk/return, arguing that the sale was due mainly to technical factors and the conclusion of the profit. The Bank anticipates that the demand for artificial intelligence computing will exceed supply in the coming years and is optimistic about the growth of artificial intelligence capabilities, applications and long-term capital expenditure associated with artificial intelligence. Kim Xian

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Meta worked with Beled to build a $14 billion data centre

On 28 July, Meta Platforms (META.US) and Beled announced that they would co-invest and own a data centre campus in El Paso, Texas. The park is currently under construction and will have a Giva computing capability. Meta will provide construction management, administration and property management for the park and will become its first sole user upon its completion. The transaction is expected to be completed in the next few days, and the project is scheduled to begin operations online in 2028. The El Paso data centre, a project that has invested over $10 billion in Meta, will support over 4,000 construction and 300 operational positions during the peak period. More than 2,300 workers have been present. The funds managed by Belet would hold 80 per cent of the joint venture, while Meta would retain the remaining 20 per cent. The parties have committed themselves to co-financing the development costs of buildings on campus and long-term electricity, refrigeration and communications infrastructure, which amount to approximately $14 billion。

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The founder of the Shinma Miner Yang Jing Hing: The golden time for bitcoin mining is over

On 28 July, at the Money Fronter 2026 New Capital Chile Summit, Dr. Yang Zhengheng, founder of the Shinma Miner and Chairman of the Director of Microelectronic Research, stated that the gold time spent digging in Bitcoin had passed, and that the first high point in the gold time spent digging in Bitcoin had been 2017, when industrial machines sold between 30 and 40 billion and 80 to 90 per cent of the gross profit of certain companies. The second high point was 2021, with sales of between $30 billion and $40 billion, and Māori between 50 and 60 per cent. The third high point was 2025, when sales were close, but only 20 to 30 per cent of Māori. The heights go down, and the golden time is over. AI is robbing money and electricity, and mining opportunities continue. But bitcoin mining will not die immediately, with long long tails, with three new directions: first, gas mining; second, a blender in the AI data centre; and third, solar-scale mining。

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Hyperliquid: The unusual fluctuations in the Hercules contract were investigated by Trade.xyz and the conclusions will be published separately

On 28 July, Hyperliquid responded that the platform was an unlicensed block chain, and that the HIP-3 market could be deployed and operated independently by a different team, of which xyz: SKHYNIX is deployed and operated by the Trade.xyz team, which is currently investigating the incident and will announce progress as a follow-up to its conclusions. Hyperliquid also states that HIP-3 deployers are free to push market price tags, predictor price and external durable price input. If a pricing mechanism similar to that of a permanent contract operated by a Platform certifier is used, the agreement provides only one of the three median components of the chain, i.e., the most up-to-date bargain, the best purchase price and the best selling price, with the remaining two components being supplied by the deployed and the final mark-up price being jointly determined。

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360 release of nanowork platform for a new generation of enterprise intelligence

On 28 July, the founder of the 360 Group, Zhou Hong-hoon, officially launched the “NamiWork” platform for a new generation of business intelligence. According to 360, new products have been created for business AI, and have been created for business owners, entrepreneurs and one company (OPC) and business employees. At the same time, Zhou Hong Chong Chong has announced a $100 million trial quota for each of the first users to help 1,000 small businesses to land and run their businesses through professional hands-on training and accompanying services。

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Analyst: Netanyahu or will again press Trump during the meeting

Alex Vatanga, a senior researcher at the Middle East Institute in Washington, D.C., stated that Netanyahu was likely to try again to promote the idea of regime change in Iran when he met with Trump at the White House on Tuesday. But Trump wouldn't buy because he didn't want to. Within the United States, the war was extremely politically unpopular, so it remains to be seen what Netanyahu would gain from this meeting. It remains to be seen whether the previous meeting between Trump and Netanyahu in Washington, D.C., which has often been followed by an escalation of tensions with Iran, will continue this pattern. The Israeli side remains dissatisfied with the memorandum of understanding between the Trump Government and Iran, as their perception of the Iranian threat is different from that of the United States. Israeli officials would like Netanyahu to continue to pressure Trump on Iran ' s ballistic missiles and nuclear programme. The response of the Trump Government may be that unless the United States decides to deploy troops to occupy Iran, the military action that the United States forces can do is limited. No one can take Iran seriously. Kim Xian

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THE FOUNDER OF THE SHINMA MINER YANG ZING HING: BITCOIN WAS BORN FOR AI

On 28 July, at the Money Front 2026 New Capital Chile Summit, Dr. Yang Zheng, founder of the Shinma Mines and Director of Microelectronics, gave a presentation on the theme “From Bitcoin to AI”, suggesting that Bitcoin mining infrastructure would create new value in the AI era. Yang Zheng Xing said that bitcoin was actually made for AI. The fourth industrial revolution — the AI revolution will be completed in 2040, and it will probably be paid in virtual currency in the AI world, with bitcoin being the most important building block of the virtual currency. At the technical level, Bitcoin prepared for AI the most advanced process in the world, the cheapest device programme, the minimum power chip and the minimum power chip design methodology. “Thank you, Chung, for having invented bitcoin and preparing for AI for almost 20 years.” Yang Zheng Xing divided AI ' s computation into training and reasoning, and there were fewer opportunities for oligopoly in the field of training; but 2026 was a year of reasoning and a great opportunity. He calculated that by 2040 the size of the reasoning algorithm would be nearly $8 trillion a year, and that in the future the reasoning chip would have to be fully competitive, so that bitcoin miners had a great opportunity to enter the AI calculator industry。

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Bitcoin spot trade has been at a new low since the end of the bear in 2023, down 75% from the peak at the end of 2024

On 28 July, CryptoQuant Analyst Darkfost released data, and the spot trade volume of Bitcoin continued its long-term contraction in July of this year, with a total drop of more than 75 per cent from the peak at the end of 2024 on the main trading platform. Binance alone recorded more than $35 billion a month, but it still shrunk significantly compared to $246 billion in November 2024. During the same period, there was a simultaneous contraction of transactions across major platforms. The last such low level of transactions goes back to the end of Bear City in 2023. Analysts attribute weak demand for risk assets to multiple macro-pressures: the US-Iraq conflict continues to exacerbate the risk-pression preference, and high inflation keeps the market concerned about maintaining high interest rates, an environment that is extremely unfavourable to speculative assets. At the same time, the fact that the stock market continued to absorb most of the liquidity available — the extraordinary performance of the technology block — has driven this rainbow-absorption effect, but this narrative began to be questioned in July. To return to the upward trend, bitcoin requires a shift in the macro-environment and, more importantly, a return in demand, which is the only driving force that can really drive up trade volumes。

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The U.S. stock has continued to fall in front of the U.S. luminous communications system

On 28 July, following yesterday ' s decline, the U.S. stock market light communications concept stock continued to decline collectively before today. Among them, AXT Inc, Astera Labs, Viavi Solutions fell by more than 4 per cent, Applied Optoelectronics, Coherent, Maywell Technologies, Conning, Max Linear, Tower Semiconductor, GlobalFoundries, Credo Technology fell by 3 per cent, and Lumentum fell by nearly 3 per cent。

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The Department of Commerce responded to the United States' 301 survey on capacity: the right to take the necessary measures will be reserved to follow developments closely

On 28 July, in response to the recent launch of the 301 United States Survey on Productive Capacity, the Director of the Political Research Unit of the Ministry of Commerce, Lin Wyron, stated at the 28th New York Office of the Secretary-General, that this was a typical act of unilateralism that seriously undermined the international economic order. The United States cannot narrowly define production capacity above domestic demand as “overcapacity” and label it as “overcapacity”. The United States is not in a position to unilaterally determine the existence of “overcapacity” of trading partners through a 301 survey and to impose unilateral restrictions. China urges the United States to correct the wrong practices and to return to the right path of resolving problems through dialogue and consultation. China will follow developments closely, reserve the right to take the necessary measures and firmly defend its legitimate rights and interests. Xinhua

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