Strategies - Bitcoin-treasury firms are shifting beyond simple HODLing, moving into yield strategies, hedging, and even share buybacks [1]

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Core Viewpoint - Sequans Communications has successfully repurchased 755,349 American Depositary Shares (ADSs), representing approximately 5% of outstanding ADSs, as part of its ongoing strategy to enhance shareholder value through disciplined capital allocation [1][2][4] Group 1: ADS Repurchase Program - The repurchases were executed at an average price of $6.40 per ADS, resulting in a current outstanding ADS count of approximately 15.2 million, or 16.3 million including potential pre-funded warrants [2] - The reduction in outstanding ADSs has generated a 4.4% yield in Bitcoin per outstanding ADS since the company's earnings call on November 4, 2025, showcasing the effectiveness of its capital allocation strategy [2][3] Group 2: Funding and Strategy - The ADS repurchases were funded through proceeds from the sale of Bitcoin and operational funds, indicating a strategic approach to enhance Bitcoin per share [3] - The company aims to continue executing share repurchases at prices below net asset value (NAV) per ADS to create additional value for shareholders [3][4] Group 3: Management's Perspective - The CEO of Sequans, Dr. Georges Karam, emphasized that the current digital asset market conditions present an opportunity to strengthen the balance sheet and advance the Bitcoin Treasury strategy [4] - The company remains committed to reducing debt and executing share repurchases to reinforce its growth strategy and deliver value to shareholders [4] Group 4: Company Overview - Sequans Communications is a leading fabless semiconductor company specializing in 4G/5G cellular technology for IoT and is recognized as a pioneer in Bitcoin Treasury [8] - The company views Bitcoin as a long-term investment and plans to accumulate it as its primary treasury reserve asset, utilizing proceeds from equity and debt issuances as well as operational cash flow [8][9]

Core Viewpoint - KULR Technology Group reported significant revenue growth in Q3 2025, driven by product sales and strategic partnerships, while also facing increased operating losses due to higher expenses in R&D and SG&A [2][6][7]. Financial Performance - Revenue for Q3 2025 increased by 116% to $6.88 million, compared to $3.18 million in Q3 2024 [2]. - Product sales rose by 112%, reaching approximately $1.62 million, up from approximately $765,000 in the same quarter last year [2]. - Cash and current accounts receivable totaled $24.54 million as of September 30, 2025 [3]. - Gross margin decreased to 9% in Q3 2025 from 71% in the same period last year, attributed to increased service contract hours and costs related to digital asset mining leases [3]. - SG&A expenses rose to $6.26 million in Q3 2025 from $2.74 million in Q3 2024, driven by growth-related investments [4]. - R&D expenses increased to $2.32 million in Q3 2025 from $1.23 million in the same period last year, reflecting planned increases in R&D services and new hires [5]. - Operating loss for Q3 2025 was $8.74 million, compared to $1.71 million in Q3 2024, primarily due to higher SG&A and R&D expenses [6]. - Net loss for Q3 2025 was $6.97 million, or a loss of $0.17 per share, compared to a net loss of $2.00 million, or a loss of $0.08 per share in the same period last year [7]. Strategic Developments - KULR announced partnerships with Amprius and Molicel to launch the KULR ONE Air product line for unmanned aircraft systems, with initial sample shipments starting in July 2025 and volume production expected in Q4 2025 [8]. - The company introduced six new commercial off-the-shelf K1S CubeSat batteries, enhancing its portfolio in space power systems [11]. - KULR launched a next-generation Battery Management System (kBMS) aimed at setting new industry standards for reliability and safety, with versions tailored for both defense and space applications [11]. - A hosting partnership with Soluna Holdings was established to operate approximately 3.3 MW of Bitcoin mining capacity, marking a strategic move into green data centers [11].

Core Insights - Strive, Inc. has reported significant progress in its Bitcoin accumulation strategy, becoming the first publicly traded Bitcoin treasury asset management firm following a reverse acquisition of Asset Entities Inc. [3][4] - The company raised $762.6 million through a PIPE financing transaction and plans to acquire Semler Scientific, Inc. to enhance shareholder value and Bitcoin exposure [3][4] - Strive's financial results for Q3 2025 show a GAAP net loss of $192.3 million, primarily due to non-recurring and non-cash items [4][9] Financial Performance - Strive accumulated 5,886 Bitcoin at a total cost of $683.0 million, with a fair value of $672.9 million as of September 30, 2025, increasing to 7,525 Bitcoin by November 7, 2025 [4][9] - The company reported total revenues of $255,000 for the period from September 12, 2025, to September 30, 2025, with investment advisory fees contributing $246,000 [9][12] - Operating expenses totaled $19.5 million, leading to a net operating loss of $44.1 million for the same period [9][12] Capital Structure and Financing - Strive completed a public offering of 2,000,000 shares of Variable Rate Series A Perpetual Preferred Stock, generating net proceeds of approximately $149.3 million [4][9] - The company has the potential to raise an additional $736.6 million through the exercise of remaining warrants [4] - Strive's total assets reached $792.6 million as of September 30, 2025, compared to $28.2 million at the end of the previous year [6][7] Strategic Initiatives - The merger with Semler Scientific is expected to create synergies between Strive's Bitcoin strategy and Semler's medical device business, enhancing future value for shareholders [3][4] - Strive aims to implement a new executive leadership structure for Semler to focus on preventative healthcare, mirroring successful models from the biotech sector [4] - The company has launched a Bitcoin treasury dashboard on its website to provide ongoing information about its Bitcoin holdings and financial metrics [4]

Core Insights - LM Funding America, Inc. reported a total revenue of $2.2 million for Q3 2025, reflecting a 13.0% sequential increase from Q2 2025 and a 73.5% year-over-year growth, driven by higher Bitcoin prices and contributions from the newly acquired Mississippi facility [4][6] - The company improved its mining margin to 49.0% from 41.0% in Q2 2025, attributed to reduced hosting costs and increased operational efficiency [4][6] - As of October 31, 2025, LM Funding held 294.9 Bitcoin valued at approximately $32.2 million, down from 304.5 Bitcoin valued at $34.7 million as of September 30, 2025 [4][6] Financial Highlights - The net loss for Q3 2025 was $3.7 million, with a Core EBITDA loss of $1.4 million, showing improvement compared to a net loss of $4.3 million and Core EBITDA loss of $1.9 million in the prior year [4][6] - Operating expenses increased by $0.4 million due to higher staff costs related to the Mississippi site acquisition, partially offset by a $1.0 million gain on the fair value of Bitcoin [4][6] - The company raised a net $21.3 million in August 2025 through a registered direct offering and private placement, primarily to enhance its Bitcoin treasury [4][6] Operational Highlights - LM Funding acquired an 11 MW Bitcoin mining facility in Mississippi, with 7.5 MW operational at closing, contributing to production immediately [4][6] - The company achieved a 27.8% increase in Bitcoin production in October 2025 compared to September 2025, following the integration of the Mississippi facility [4][6] - Progress was made on a 2 MW immersion expansion at the Oklahoma site, with new equipment scheduled for delivery and energization targeted for December 2025 [4][6] Shareholder Actions - The company executed a private repurchase of approximately 3.3 million shares and authorized a $1.5 million share buyback program, reflecting confidence in its intrinsic value [4][6] - The total stockholders' equity was approximately $50.1 million, or $3.23 per share, as of September 30, 2025 [4][6]

JUST IN: 🇯🇵 Japanese Bitcoin treasury company Metaplanet CEO says, “Almost 0.2% of all Japanese are now shareholders of the company.”Japan is embracing Bitcoin 🚀 https://t.co/fb50utSdiQ ...

Core Insights - Strive, Inc. successfully closed its initial public offering of 2,000,000 shares of Variable Rate Series A Perpetual Preferred Stock (SATA Stock) at a price of $80 per share, with trading expected to begin on Nasdaq under the ticker symbol "SATA" [1][2] - The IPO was upsized from an initial target of 1.25 million shares due to strong investor demand, despite Bitcoin's recent dip below $100,000 [1][2] - The proceeds from the offering will be used for Bitcoin accumulation and general corporate purposes, including working capital [1][6] Company Overview - Strive is the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity, and the second overall to issue a publicly traded perpetual preferred equity security [2] - The company holds approximately 7,525 Bitcoin as of November 10, 2025, having acquired 1,567 Bitcoin at an average price of $103,315 [6][7] - Strive has grown to manage over $2 billion in assets since launching its first ETF in August 2022 [7] Financial Structure - The SATA Stock features cumulative dividends at a variable rate, initially set at 12%, payable monthly when declared [2][3] - The initial liquidation preference for the SATA Stock is $100 per share, with regular dividends payable on the 15th of each month starting December 15, 2025 [2][3] - The company aims to maintain the trading price of SATA Stock within a long-term range of $95 to $105 per share [3] Strategic Focus - Strive emphasizes a disciplined approach to its capital structure, applying advanced risk controls to its Bitcoin-based balance sheet [3] - The company intends to align traditional finance principles with the future of digital capital through its innovative financial instruments [3]

Financial Data and Key Metrics Changes - Total revenue surged 568% year over year to $23.6 million in Q3 2025, driven by IMA's 76% quarter-to-quarter growth [9] - Adjusted EBITDA loss improved from $6.5 million in Q1 to $2.1 million in Q3, indicating operational leverage and a clear path to profitability [12][17] - Cash increased to approximately $82 million and Bitcoin holdings valued at around $40 million, resulting in total liquidity of about $120 million with zero debt [7][18] Business Line Data and Key Metrics Changes - IMA achieved $100 million annual recurring revenue (ARR) in the last 11 months, with projections to reach $300 million ARR by the end of 2026 [6] - Subscription rate for IMA stands at 80%, with an average order value increasing by 36% quarter over quarter to $150 [10][11] - Gross margin improved to 60% from 52%, reflecting enhanced profitability [10] Market Data and Key Metrics Changes - International markets now account for 56.5% of total revenue, with the U.S. being the top market followed by Canada, the U.K., Australia, and Singapore [10] - IMA has achieved over 420,000 customer purchases across 31 countries, indicating strong global demand [9] Company Strategy and Development Direction - The company aims to create a new category at the intersection of health and wealth, targeting $1 billion in annual revenue by 2030 [6] - A strategic divestment of non-core assets is underway to focus resources on IMA, the highest margin growth engine [14] - The company is leveraging partnerships with high-profile individuals to enhance brand visibility and credibility [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $180-$200 million in revenue for 2026, driven by international expansion and new product launches [18] - The company is strategically choosing to scale aggressively rather than prioritize short-term profitability, aiming to capture maximum market share [18] Other Important Information - The company has initiated a Bitcoin accumulation strategy, purchasing one Bitcoin daily since August 1, which is part of a sustainable framework to build shareholder value [8] - The recent $44 million funding round attracted notable investors, enhancing the company's financial position [6] Q&A Session Summary Question: Impressive payback period of 3.9 months - Management explained that the payback period has improved from four to five months at launch to 3.9 months now, indicating marketing efficiencies and strong unit economics [19][20] Question: Strong growth in international markets - Management noted that the U.S. market share has decreased from 70% to 46.5%, with significant growth observed in Canada, Europe, the Middle East, and Southeast Asia [21] Question: Need for additional capital for expansion - Management stated that with current liquidity, there is no expectation of needing new capital for expansion, emphasizing operational flexibility from recent fundraising [22][24]

RT Bitcoin For Corporations (@BitcoinForCorps)📺 The Bitcoin For Corporations ShowEpisode 20 now live — hosted by @BitcoinPierreGarry Krugljakow (@GarryKrug), CEO of @aifinyo, joins to break down how the publicly listed German firm is integrating #Bitcoin into its balance sheet strategy — taking advantage of Germany’s favorable tax treatment and rising corporate demand.00:00 — Intro: Germany’s Bitcoin Moment01:25 — Garry Krugljakow: Background & Early BTC Views02:58 — Why Institutions Are Adopting Bitcoin05: ...