Chapter 1: Executive Summary and Industry Landscape Analysis As of December 19, 2025, the global digital asset mining sector is undergoing the most profound structural transformation since the birth of Bitcoin. Following Bitcoin's price hitting a historical high of approximately $125,000 in October 2025 and then retracing to the $86,000 range, along with the network's total hash rate surpassing the 1,000 EH/s mark, mining companies are facing a dual challenge of compressed profit margins and a surge in capital expenditures in the "post-halving era." 1.1 Industry Differentiation Pattern Figure 1: Analysis of the Relationship Between Mainstream Mining Companies' Hash Rate and Market Value in 2025 The above image clearly shows the current differentiation trend in the industry. Based on operational data analysis, the industry has formed two major camps: First Camp: Bitcoin Standard Advocates MARA Holdings: Hashrate 60.4 EH/s, Market Cap 3.8 billion USD CleanSp

Huobi HTX's annual blockbuster "Hunting AI Plan" series of activities officially came to an end on December 4. As a high-profile human-computer confrontation trading event this year, the three seasons of the "Hunt AI Plan" together constitute a long story of ups and downs in crypto real trading: there is a strong appearance of the AI camp, a counterattack by human traders, and a head-to-head confrontation between different strategy systems, bringing users the most real and valuable strategy performance comparison. With the announcement of the final list of the third quarter, the cumulative prize pool of the event has exceeded 10,403 USDT, and will be distributed and rewarded to participating users in accordance with the event rules in the future. This quarter's outstanding performance not only improves the visualization of copy trading strategies, but also further enriches the competitive dimension and user experience of Huobi HTX's copy trading ecosystem. The two heroes compete for supremacy: LongTian defends its human glory, and DeepSeek is firmly at the top of the profit list

According to TechFlow, on December 10, intellectual property (IP) is a global market worth over $80 trillion, but in an AI-driven economy, it has never had a unified, programmable standard for ownership, licensing, or monetization. Origin addresses this issue by transforming any intellectual property into a machine-readable, rights-aware asset, enabling it to be automatically licensed, tracked, and monetized across applications, platforms, and AI systems. The industry is already moving in this direction. Major studios such as Warner Bros. are now licensing their catalogs to AI companies like Suno. Origin is the infrastructure designed to support this new model, capable of operating securely at scale. Camp is already recruiting global IP partners, including "Black Mirror," "DWP Festival," "Imogen

The United States has recently reignited the debate over debanking (Debanking). Members of the Trump camp, Jack Mallers, CEO of blockchain payment startup Strike, and several crypto industry professionals have accused JP Morgan (JP Morgan) of unexpectedly closing accounts, raising public concerns about whether banks are exhibiting political or industry bias. In response, JP Morgan CEO Jamie Dimon made a rare public statement, emphasizing that account closures are not based on political or religious grounds, but are compelled by current regulations. He also revealed that he has been advocating for reforming the system for 15 years. Trump camp and crypto industry professionals frequently accuse banks of account closures, fueling political and industry concerns Before Dimon’s interview, Trump Media (Trump Media) CEO Devin Nunes, Strike CEO Jack Ma

Author: MarylandHODL Compiled by: TechFlow TechFlow Summary: The Rule of Financialists: By controlling credit, price discovery mechanisms, and monetary transmission channels, financialists maintain a highly centralized system centered around fiat currency. The Sovereigntists’ Counterattack: This camp consists of nations seeking monetary independence, institutions and enterprises tired of the banking system, and individuals choosing Bitcoin as a store of wealth. They believe Bitcoin can break the monopoly of traditional currency. The Significance of STRC: STRC, launched by MicroStrategy, is an innovative financial instrument that transforms fiat savings into real yield collateralized by Bitcoin, while tightening Bitcoin’s circulating supply to reinforce its scarcity. JPMorgan’s Counterattack: JPMorgan quickly launched synthetic financial products linked to Bitcoin, attempting to

Mantle has completed a technical upgrade from OP Rollup to ZK Validium + EigenDA, significantly improving transaction speed and security, while meeting the compliance needs of institutional funds. With the maturation of ZK technology, Mantle has successfully transformed into institutional-level financial infrastructure, replacing the traditional OP Rollup model and showcasing a leap over the original technology.

Camp Network combines 53 global music festivals with a $3.5 trillion cultural economy, utilizing the All Access platform for intellectual property tokenization, creating investable assets and facilitating a new financial interaction between creators and fans.

The blockchain data analysis platform Arkham Intelligence monitoring shows that Elon Musk's space exploration company SpaceX transferred 1163 Bitcoins worth 105.4 million USD to two unmarked wallet addresses on Wednesday. This is the first large-scale transfer by SpaceX since it moved 281 Bitcoins on October 29, and the company still holds 6095 Bitcoins, with a total value of approximately 552.9 million USD. This transfer coincided with Bitcoin's price rebounding to 90921 USD, with a 24-hour rise of 3.14%, sparking high market attention on the Bitcoin holdings strategy of Musk's affiliated companies.

The "Origin White Paper" released by Camp Network introduces a programmable intellectual property protocol aimed at addressing the efficiency issues of the current intellectual property system. This protocol achieves real-time micro-royalty settlement through a three-layer architecture and supports AI agents in managing intellectual property, enhancing the tracking and enforcement capabilities of intellectual property.

The internal personnel layout of the White House is quietly influencing the future direction of U.S. monetary policy. Current White House economic advisor and Director of the National Economic Council (NEC) Kevin Hassett has become the most popular candidate to succeed current Federal Reserve Chairman Jerome Powell in the Trump administration. Trump is expected to formally announce the nomination before Christmas, and Hassett is garnering attention not only because of his deep connections with Trump's camp but also because he is seen as a friend of Crypto Assets, which has led to high market expectations. Who is Kevin Hassett? Hassett's career in economic policy spans thirty years, from teaching at Columbia Business School in the 1990s, to serving as a policy advisor at the Treasury Department, and then working as an economist in the Federal Reserve's research and statistics division, with experience across academia, government, and regulatory agencies. During the administrations of George H.W. Bush and Clinton, he was involved in the formulation of fiscal policy.

Buterin says FTX collapsed due to centralized control, contrasting it with Ethereum’s community-driven, transparent governance. Post-FTX distrust boosted decentralized exchange activity, with platforms like Hyperliquid gaining traction. Claims from Bankman-Fried’s camp about asset levels and

Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash could have a negative impact on Bitcoin at this critical moment. In his post, Balchunas mentioned that Zcash gives off a "third-party candidate vibe, like Gary Johnson or Jill Stein," suggesting that promoting the issuance of an independent privacy coin could "split the vote," especially when Bitcoin needs unified political and cultural support.

Camp Network has launched a new intellectual property registration, licensing, and monetization protocol, aiming to redefine the fundamental principles of on-chain IP. The project is based on Gelato's BCH Stack, features high throughput, and employs a modular design to enhance data processing efficiency and transaction execution capability.

According to Mars Finance news, as reported by Jin10, Wasif Latif, President and Chief Investment Officer of Sarmaya Partners, stated that the US Non-farm Payrolls (NFP) for September far exceeded expectations, and the market is adjusting and reassessing the Fed's "rate cut range-bound". Currently, the "no rate cut" camp has the upper hand, but the game is not yet over. As data continues to be released, this range-bound battle will persist. Although the September data performed reasonably well, the key lies in the October data; if it shows a weaker job market, it will shift the market towards rate cut expectations.

Against the backdrop of overall fluctuations in the DeFi market, TRON's core DeFi protocol JustLend DAO achieved leap-forward development in the first three quarters of 2025, making comprehensive breakthroughs not only in total locked value (TVL) growth, product functionality expansion and innovation, and global influence, but also by continuously releasing value through the recently implemented large-scale JST buyback Burn Mechanism, demonstrating strong ecological vitality and development potential. According to the third quarter revenue report of TRON released by Messari, the Total Value Locked (TVL) of JustLend DAO increased by 46.1% quarter-on-quarter, rising from 3.4 billion USD to 5 billion USD, consistently ranking among the top four in the lending industry and firmly positioned in the global DeFi leading camp. What has attracted more market attention is the approximately $59 million raised by JustLend DAO recently.

The Huobi HTX "Hunt AI Season 2" second match has concluded, with the human camp surpassing the AI camp by scoring 70 points to 60 points, temporarily tying the overall score. @web3热宝 achieved a score of 594.16U, securing first place and helping the humans earn crucial points. The third showdown will take place tonight, where the audience can participate in voting and win rewards.

深潮 TechFlow 消息，11 月 11 日，据官方社媒消息，火币HTX“猎杀AI 第二季 · 真人AI交易赛”首场比赛于昨日落下帷幕，AI阵营以130分：0分的悬殊比分击败人类阵营，拿下开门红。Qwen凭借502.61U的战绩夺得冠军，ChatGPT与DeepSeek分列二、三位，AI阵营总计得分130分。人类阵营以0分惨淡收场。 今晚20:00，第二场「人类复仇之战」即将开盘。本轮阵容人类方派出Web3热宝、小牛、沐白三位新锐交易员迎战AI三巨头DeepSeek、ChatGPT、Qwen。赛事将以实盘直播形式进行，观众可在HTX Live实时围观，并在@HuobiGlobal的X评论

Huobi HTX "Hunting AI Season 2" will kick off its first match on November 10th at 20:00, featuring a battle of wits between the human camp and the AI camp. Users can vote for their supported war gods during the event, and participants have a chance to share a prize pool of 4,675.85 USDT.

At the beginning of November, the heavyweight themed event "Hunting AI Project: The Battle for Human Dignity" initiated by Huobi HTX officially came to an end. Over the course of three peak duels, top traders from both the human and AI camps engaged in a battle of wits and strategies on the same stage. With the final battle report announced, this "Human VS Algorithm" century battle reached its climax and conclusion. First Match: AI narrowly wins, humans make a strong appearance The first match of the event ignited the attention of the entire audience. The AI player gained an advantage first thanks to its precise strategy model, while the human representative "Big Brother" performed brilliantly, winning the single match championship with a record of 530.72 USDT. The AI players ChatGPT, Qwen, and DeepSeek followed closely behind, each with account balances exceeding 490 USDT. Two out of the top three spots were occupied by AI competitors, declaring the victory of the AI camp. This battle marks that "humans still have the strength to fight back," and the number

Against the backdrop of continuous pullbacks in the Crypto Assets market, on-chain data reveals a significant divergence within the Whale camp. Abraxas Capital's short positions have continued to expand to $760 million, including $280 million in BTC shorts, $267 million in ETH shorts, and $103 million in HYPE shorts, with the hedge fund's total unrealized gains reaching $50.2 million. Meanwhile, the long positions have suffered heavy losses, with the '100% win rate Whale' holding total unrealized losses exceeding $20 million on BTC, ETH, SOL, and HYPE long orders, having given back all the profits from its last **12** trades. The comparison of long and short forces in the market has undergone significant changes, and high-leverage longs are facing severe tests.

The third round of the Huobi HTX "AI Hunting Plan" has successfully concluded, with the AI camp winning by a significant margin, and ChatGPT taking first place in net profits. Human traders performed poorly, with net profits nearly at 0. The next round of the competition will be upgraded, and registration is now open.

After the Fed lowered interest rates by 25 basis points as expected but released hawkish signals of "uncertainty about a rate cut in December," the crypto assets market experienced significant fluctuations. On-chain data shows that institutional-level Bull vs Bear Battle has further escalated, with Abraxas Capital increasing its short positions from $690 million to $738 million, adding $48 million in short exposure in a single day. Meanwhile, the "100% win rate Whale" increased its position against the market pullback, with a total position value exceeding $320 million, and placed a limit long order for 15,000 ETH at $3,800 waiting to be executed. The Whale camp shows clear operational differentiation driven by macro events, and market volatility is expected to remain high.

Original Title: Chillhouse Leading the Rise Alone, The Past and Present of the "Web3 Fun Person" Original Author: Cookie Source: Reprint: Daisy, Mars Finance The long-silent Solana meme has not been this lively in a long time, and it has happened in a way we could hardly imagine — Jesse Pollak, the head of the Base protocol, well-known crypto KOL Cobie, Solana founder Toly, and pump.fun founder alon are all "abstracting" around a Solana meme coin. Especially with the addition of the Base camp, it feels like a "breaking of taboos," which is even more unexpected for players in the current environment where various chains are competing vigorously. This

The long-dormant Solana meme has not been this lively for a long time, and it’s happening in a way we can hardly imagine — with Jesse Pollak, the head of the Base protocol, well-known crypto KOL Cobie, Solana founder Toly, and alon, the founder of pump.fun, all engaging in an "abstract" discussion around a Solana meme coin. Especially with the addition of the Base camp, it feels like "breaking the taboo door," which, in the current environment where various chains are competing fiercely, is even more unexpected for players. This Solana meme coin is exactly $chillhouse. It’s not a new coin; from pump.fun

Original Title: Chillhouse Leading the Rise Alone - The Past and Present of the "Web3 Fun People" Original author: Cookie Source: Reprint: Mars Finance The long-silent Solana meme has not been this lively for a long time, and it has happened in a way we can hardly imagine — Jesse Pollak, the head of the Base protocol, well-known crypto KOL Cobie, Solana founder Toly, and pump.fun founder alon are all "abstracting" around a Solana meme coin. Especially with the inclusion of the Base camp, it feels like "breaking the taboo door", which is even more unexpected for players in the current competitive environment where various chains are working hard against each other. This Solana meme coin

As Bitcoin oscillates around the key position of $115,000, on-chain data reveals a fierce divergence between the whale camp's long and short positions. The hedge fund Abraxas Capital continues to ramp up its short strategy, with total holdings' notional value increasing to $480 million, including $226 million in ETH shorts, $124 million in BTC shorts, and $97.4 million in HYPE shorts. Opposing them is the "100% win rate whale" that continues to expand its long positions, currently holding 2,083.84 BTC ($237 million) and 47,548.42 ETH ($196 million) in long orders, with total position size surpassing $420 million. This battle of over $900 million between long and short positions will be a key determining factor for the short-term market direction.

Is the century debate between the gold camp and the Bitcoin camp about to unfold? Famous economist and gold bull Peter Schiff publicly challenged Binance founder CZ Zhao Changpeng on X, wanting to hold a debate titled "Bitcoin vs. Tokenized Gold." Summary: Peter Schiff's tokenization of gold has sparked controversy, and CZ bluntly stated that this is not on-chain gold. Peter Schiff recently announced in an interview video that he will launch a tokenization gold product, allowing users to buy, store, and transfer ownership of gold in physical vaults through a mobile application, and even redeem it for physical gold. (CZ refers to tokenization of gold as off-chain gold, is it a liability discharge for PAXG?) However, CZ immediately responded to the criticism on X: "That's not on-chain gold, but a 'brother trust me' Token, you

Author: David, Deep Tide TechFlow What can change in 7 years? In the world of cryptocurrency, 7 years can turn a young person who was photographed at the Binance Labs incubation camp into a competitor that Binance has to take seriously. Recently, this long-hidden photo was suddenly unearthed by archaeology, igniting a heated discussion on social media. Just looking at the photo, you might think this is a regular group photo released by YZi Labs( (the original Binance Lab) in 2018, which roughly features the head of the well-known venture capital incubator Y Combinator.

According to Mars Finance, on October 11, Fox Business News reporter Charles Gasparino published that discussions within the White House about Donald Trump possibly pardoning Zhao Changpeng (CZ) are heating up; some members of Trump's camp believe that the previous "fraud" allegations against CZ are unfounded, and Trump is inclined to pardon him. CZ responded on X stating that there are no "fraud" allegations, as he only pleaded guilty to a violation of the Bank Secrecy Act (BSA).

Author: Bernard, ChainCatcher Powell's "countdown", Trump lays out plans in advance In May 2026, the term of Federal Reserve Chair Jerome Powell will officially end. However, the Trump administration's layout has already begun—Trump and Treasury Secretary Mnuchin are attempting to achieve substantial control over monetary policy by controlling key voting rights on the Federal Reserve Board (FRB) before the first half of 2026. Currently, the Trump camp has secured three seats by having Stephen Miran replace Adriana Kugler, and board member Lisa Cook is facing pressure to resign due to allegations of mortgage fraud, leaving them just one seat short of a majority on the seven-member board. From the proposal of the "shadow chair" concept to the quiet arrangement of council seats, this game around the control of the Federal Reserve is reshaping the future landscape of cryptocurrency.

Powell "countdown", Trump lays out plans in advance In May 2026, the term of Federal Reserve Chair Powell will officially end. However, the Trump administration's strategy has already begun — Trump and Treasury Secretary Basant are attempting to achieve substantial control over monetary policy by mastering the critical voting rights of the Federal Reserve Board (FRB) before the first half of 2026. Currently, the Trump camp has secured three seats by having Stephen Miran replace Adriana Kugler, and Board member Lisa Cook is facing pressure to resign due to allegations of mortgage fraud, just one seat away from controlling a majority of the seven-member board. From the proposal of the "shadow chairman" concept to the quiet arrangement of council seats, the game surrounding the control of the Federal Reserve is reshaping the future landscape of cryptocurrency. According to Polymarket and Kalshi, the two major...

Author: David Christopher Source: Bankless Translator: Shan Ouba, Golden Finance Six months ago, I wrote that the reasons to support Base had never been clearer. And today, after witnessing the milestone announcement from Base Camp last week and watching this chain execute in an orderly manner in every aspect, my previous statements seem somewhat outdated. With the support of Coinbase, Base continues to expand the design of Layer 2 networks (L2s) to fulfill its overall mission: to become a highway that brings people onto the chain and demonstrates its potential as a new way of existing on the internet. With the announcement of the launch of the native Solana bridge and network token exploration at Base Camp, now is an excellent time to re-examine this chain and its ecosystem. I spoke with the founders of Base.

The Camp Network Summit Series Season 2 has launched on the Pulse platform, with a prize pool of $25,000. The top 100 participants can receive rewards. The event runs until October 31, and the point system is similar to Kaito, where users can earn points by building mental shares and completing on-chain tasks, with high-quality content receiving additional bonuses.

BitKoala reported on September 16 that when Bitcoin breaks through $124,000 to reach a historic high in 2025, MicroStrategy (MSTR), which was seen as a "Bitcoin shadow stock," showed a completely different trend: its stock price, after reaching a peak of $543, has continuously retreated, currently hovering around $325, a decline of more than 40% compared to the stock price at Bitcoin's new high. This divergence of "the king rises, the follower falls" reflects the differentiation in the valuation logic between strategy stocks and native assets in the crypto market, and has sparked intense debate on Wall Street about "discount opportunities" and "risk traps." Valuation Discrepancy: 50% Discount Opportunity or Leverage Risk Trap? The current market perception of the valuation of MSTR shows a stark opposition, forming a fierce contest between two major camps. The bullish camp centers around "asset revaluation".

In-depth analysis of HEMI, the core goal of this project is to integrate Bitcoin and Ethereum into the same operating environment, creating a "super network" that allows cross-chain assets and applications to run on a highly efficient and unified infrastructure. (Previous context: Beyond store of value: Where is Bitcoin BTCFi now?) (Background information: Blockstream developer training camp has landed in Asia for the first time, selecting BSOS as a partner!) In the contemporary Blockchain ecosystem, a core paradox has long existed: Bitcoin, with its unparalleled security and multi-trillion dollar market capitalization, remains essentially a passive store of value due to its limited programmability. In contrast, Ethereum has a vibrant programmable Decentralized Finance (DeFi) ecosystem but lacks the deep-rooted security consensus that Bitcoin possesses. This gap has given rise to a huge, yet undeveloped market.

Digital Asset Treasury (DAT) companies are emerging, with the BNB camp dominated by Asian capital and the SOL camp driven by Wall Street institutions in the United States. The two have different funding sources, compliance paths, and ecological orientations. (Background: The Hong Kong stock "BNB Microstrategy" is born! Huaxing Capital joins forces with YZi Labs to invest $100 million to establish a BNB treasury) (Background Supplement: Solana surged to $216, setting a new high since February. Can SOL treasury companies drive the coin price to break through $300?) The rise of encryption "treasury" companies In recent years, a batch of "Digital Asset Treasuries" (Digital Asset Treasury, DAT) type listed companies have emerged in the capital market: through capital increases or private sales, they incorporate cash or equivalent digital assets into their balance sheets and hold them long-term. Some cases also involve staking, nodes, and liquidity management. The pioneers are

Press Release With over 90 million testnet transactions and 50+ live dApps, Camp's Layer-1 blockchain is establishing a new standard for IP licensing and monetization for an AI-native era Camp Network, the decentralized platform designed to power the future of IP and AI, today announced the

Over 6 million wallets joined Camp Network’s testnet, but only about 40,000 addresses qualified for the airdrop. A $10 registration fee, later canceled after backlash, damaged user trust and sparked criticism. Strict KYC rules and locked token rewards turned the airdrop into frustration

Bithumb has announced the listing of $CAMP, a cryptocurrency by Camp Network, emphasizing its AI and blockchain integration. With $30 million in funding, Camp aims to provide a decentralized IP registry, positioning itself favorably amid market trends and supporting investor interest.

Written by: on-chain view I see that Flock has also joined the Wall Street DAT (Digital Asset Treasury) narrative camp. Interestingly, the collaboration between FLock and CIMG Inc is entirely different from the common practice in the market of buying ETH and BTC as reserve assets to boost stock prices. To elaborate: specifically, FLock and CIMG Inc have adopted a deeply integrated business cooperation model, where CIMG needs to purchase FLOCK tokens as reserve assets. The two parties will also jointly develop a product called LifeNode, an AI health monitoring and smart recommendation product, with FLock providing AI privacy computing and federated learning technical services. 1) The currently popular DATs model on Wall Street is essentially

I see that Flock has also joined the narrative camp of Wall Street DAT (Digital Asset Treasury). Interestingly, the collaboration between FLock and CIMG Inc is completely different from the common practice in the market where most buy ETH and BTC as reserve assets to boost stock prices. To elaborate: Specifically, FLock and CIMG Inc have adopted a deeply integrated business collaboration model, where CIMG needs to purchase FLOCK tokens as reserve assets. Both parties will also jointly develop a product called LifeNode, an AI health monitoring and smart recommendation tool, with FLock providing technical services in AI privacy computing and federated learning.

Camp Network officially launched on August 27, 2025, becoming the world's first public chain infrastructure focused on the integration of artificial intelligence and intellectual property, aiming to solve the challenges of ownership and authorization of creative results. Through the Proof of Provenance mechanism, Camp realizes the tokenization of IP and automatic authorization, providing transparent solutions for creators and brands, and promoting the development of a decentralized creative economy.

Black Mirrors, the team behind the popular science fiction anthology series aired on Netflix and an AI-powered game, ‘The Black Mirror Experience,’ has integrated the Camp Network, a Layer 1 blockchain network, to launch a new non-fungible token badge collection. This NFT integration shows that

Camp Network and Rova have jointly launched the Bullpost Round 2 content competition, encouraging global creators to produce works around the integration of AI and IP, with a rewards pool of up to $7,500. The event will take place from August 25 to September 3, evaluating quality content and incentivizing participants to jointly promote the AI native IP economic system.

MEXC, a leading global cryptocurrency exchange, today announced it will list Camp Network (CAMP) at 09:00 UTC on August 27, 2025. To celebrate the listing, MEXC is launching an Airdrop+ event featuring a 75,000 USDT prize pool, open to both new and existing users. Camp Network (CAMP) is the

$CAMP Token is the core driving force of the Camp network, used in on-chain transactions, network security, IP authorization, and other scenarios. Users can use $CAMP to pay gas fees, participate in staking, achieve IP tokenization, and receive royalty shares. Airdrop sign up has begun, and users should be cautious of phishing links.

In Brief Camp Network, a Layer 1 blockchain bridging intellectual property and AI, has launched an eligibility checker for its Season 1 airdrop. Layer 1 blockchain that positions itself at the intersection of intellectual property and AI, Camp Network announced that it has introduced an eligibi

Recently, Camp announced the establishment of the Camp Foundation, an independent organization that will comprehensively promote the development and governance of the Camp Network, dedicated to building the world's first Autonomous IP Layer. As a dedicated for

The listed company Bitcoin Holdings camp welcomes new actions. Medical data service transformation company KindlyMD announced on Monday that it has successfully completed a $200 million convertible note issuance, with the raised funds primarily aimed at purchasing more Bitcoin (BTC). This move is a key financing step after its merger with the holding company Nakamoto Holdings, co-founded with Bitcoin Magazine CEO David Bailey, which previously raised $540 million through private equity investment (PIPE). KindlyMD intends to replicate the successful path of the "first Bitcoin Holdings stock" Strategy. Although its stock (NASDAQ: NAKA) fell 12% on the financing day, the long-term strategy aims to allow investors to gain indirect exposure to Bitcoin through shareholding. Currently, there are 168 listed companies globally that have incorporated Bitcoin into their balance sheets. ## The financing purpose is clearly directed towards Bitcoin KindlyMD