Core Viewpoint - Bank of America is set to pay $540.3 million following a judge's ruling in a lawsuit initiated by the FDIC regarding underpayment for deposit insurance [1] Group 1: Lawsuit Details - The FDIC sued Bank of America for $1.12 billion in 2017, claiming the bank did not comply with a 2011 rule that altered how banks report risk exposure, leading to reduced deposit insurance contributions [2] - The judge ruled against Bank of America's argument that the FDIC's rule lacked a reasonable basis, stating that the FDIC was not obligated to create a "perfect measure" for predicting banks' potential losses [3] - The judge determined that the FDIC's lawsuit was filed too late to claim amounts prior to the second quarter of 2013, resulting in the ordered payment covering assessments from Q2 2013 to the end of 2014 [3] Group 2: Bank of America's Response - A spokesperson for Bank of America expressed satisfaction with the judge's ruling and noted that the bank has reserves in place reflecting this decision [4] Group 3: Regulatory Environment - The FDIC's new acting chairman, Travis Hill, announced plans for a comprehensive review of regulations and a more open-minded approach to innovation and technology, including FinTech partnerships and digital assets [5] - The FDIC has recently updated its guidance, allowing FDIC-supervised institutions to engage in crypto-related activities without prior approval, provided they manage associated risks effectively [6]

RT Digital Pound Foundation (@digitalpoundfdn)The UK is at a critical juncture in the digital assets space.At @Ripple's UK Policy Summit, we discussed how the UK can solidify its position as a global leader in digital assets.With the upcoming regulatory framework, there's a huge opportunity to unlock growth, from faster cross-border payments to the tokenisation of financial markets. To succeed, we must act with urgency and develop a clear, risk-sensitive approach to regulation. It's time for the UK to lead ...

Core Viewpoint - CoinShares International Limited plans to distribute an annual dividend of approximately GBP 0.30 per ordinary share, totaling GBP 20,000,000, following the finalization of the Group audit for the year ended 31 December 2024 [1][2]. Group Summary - The Company aims to return between 20% and 40% of the Group's profit after tax to shareholders as annual dividends, adjusted for any special dividends [1]. - The dividend will be paid in four equal installments of GBP 5,000,000 each, with key dates for the payments outlined [2][4]. - The total number of shares outstanding as of 31 December 2024 was 66,678,210 [3]. - Each dividend payment will be subject to an assessment of the Group's financial health by its Board [5]. Company Overview - CoinShares is a leading European alternative asset manager specializing in digital assets, providing a range of financial services to various clients [6]. - The firm was founded in 2013 and is headquartered in Jersey, with additional offices in France, Stockholm, the UK, and the US [6]. - CoinShares is publicly listed on Nasdaq Stockholm and regulated by financial authorities in Jersey, France, and the US [6].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $108 million, a 141% increase from 2023 [48] - Adjusted EBITDA reached $73 million, compared to $12.4 million in 2023 [53] - Gross profit was $45.7 million, nearly threefold increase from 2023, with gross margins expanding approximately 500 basis points to 42.3% [51] Business Line Data and Key Metrics Changes - HPC revenue made up over 40% of full-year revenue and more than half of Q4 revenue, with cloud services generating $45.7 million in its first year of operations [7][49] - Colocation services contributed $1.4 million from October 12 through the year-end [49] - Bitcoin mining revenue was $58.6 million, up 32% year-over-year, but accounted for only 54% of total revenue in 2024, down from 98% in 2023 [41][48] Market Data and Key Metrics Changes - The company has seen significant demand for high-performance computing (HPC) infrastructure, exceeding current capacity [56] - The demand for GPUs is surging, with a strong customer pipeline and contracts representing nine-figure annual revenue [19][23] Company Strategy and Development Direction - The acquisition of Enovum vertically integrated data center operations and expanded customer base, enhancing infrastructure scaling capabilities [8][25] - The company is focused on a disciplined approach to GPU procurement and capital deployment to avoid excess inventory risk [20] - The strategic focus is on expanding both cloud services and colocation services to create a durable and diversified cash flow [59] Management's Comments on Operating Environment and Future Outlook - Management believes the current market sentiment does not accurately reflect the company's growth potential, particularly in HPC [57] - The company is actively exploring financing options for its HPC business to support growth without diluting equity [61][151] - Future demand for AI compute is expected to be driven by inference, with strategic developments in metropolitan areas to meet customer needs [40] Other Important Information - The company is debt-free and has approximately $98.9 million in cash and restricted cash as of December 31, 2024 [54] - Capital expenditures for 2024 totaled $94 million, primarily for GPU purchases and the acquisition of Montreal 2 [54] Q&A Session Summary Question: What is the current run rate for cloud services? - The current run rate is approximately $72 million with the addition of DNA Funds as a customer [66][67] Question: What is the expected revenue contribution from new GPU deployments? - The B200s are expected to start generating revenue in April, while the H200s' timeline is uncertain due to ongoing R&D [75] Question: What was the fourth-quarter revenue for the colocation business? - The colocation revenue recognized was $1.4 million from the date of acquisition [78] Question: Can you provide details on the 100-megawatt site under LOI? - The site has 24 megawatts of power available, with a path to 48 megawatts and discussions for an additional 100 megawatts by the end of 2025 [87] Question: How confident is the company in sourcing infrastructure equipment? - The equipment for upcoming deployments has been secured, with a large portion already delivered [115] Question: What is the company's strategy regarding Bitcoin mining? - The focus remains on optimizing the fleet and maintaining Bitcoin exposure in a capital-efficient manner, rather than expanding for growth's sake [45][124]