Financial Strategy - Sequans plans a $200 million share sale [1] - The purpose of the share sale is to build a Bitcoin treasury [1] Company Focus - Sequans is a French chipmaker [1]

Mergers & Acquisitions - KindlyMD 完成与 @nakamoto 的合并，旨在建立比特币国库 [1] - KindlyMD 通过 PIPE 融资筹集 540 million 美元 [1] - KindlyMD 完成首次收购，以 679 million 美元收购 5,743.91 BTC [1] Bitcoin Treasury - KindlyMD 现在是第 16 大企业比特币国库 [1]

Core Insights - The Bitcoin treasury sector has rapidly transitioned from niche to mainstream, attracting significant investment during a prolonged funding drought for growth companies [1][2] - Coinsilium Group Limited has raised £17 million to invest in Bitcoin, capitalizing on the recent price surge [3][4] Industry Overview - Bitcoin treasury involves companies holding traditional assets while investing surplus cash in Bitcoin, allowing them to benefit from its value appreciation [3][4] - The current price of Bitcoin is around $120,000, with forecasts suggesting it could rise to $200,000 next year, and potentially reach $1 million within five years [5] - The US leads in Bitcoin treasury adoption, with companies like MicroStrategy and Tesla holding substantial crypto assets [5] Regulatory Environment - The Genuis Act by US President Donald Trump aims to provide regulatory clarity for stablecoins, which may positively impact the broader cryptocurrency market [6] - The UK government appears less enthusiastic about embracing crypto compared to previous administrations, despite strong retail demand [7] Company Developments - Coinsilium has established a subsidiary, Forza!, focused on Bitcoin treasury management, currently holding approximately 181.96 Bitcoin valued at nearly $22 million [8] - The company has a history of nurturing blockchain innovation and is exploring opportunities for acquisitions to enhance Bitcoin generation [10][11] Market Dynamics - The demand for Bitcoin is driven by retail investors and institutional interest, fueled by distrust in fiat currencies and the cryptocurrency's role as an inflation hedge [4][5] - Coinsilium's market capitalization does not currently reflect the potential value of its portfolio investments, which may mature and provide unexpected value [11]

Bitcoin & Cypherpunk History - Explores Adam Back's history in Bitcoin and his return, highlighting the cultural evolution of Bitcoin [1] - Discusses the early days of Cypherpunks and their initial reactions to Bitcoin [3][4] - Examines Cypherpunk inventions and Bitcoin predecessors [4] - Addresses why many original Cypherpunks initially missed the potential of Bitcoin [3] Bitcoin Technology & Adoption - Highlights Bitcoin's elegance and attempts to improve upon it [3][4] - Mentions Bitcoin Treasury companies and increasing institutional adoption [3][5] - Touches on the importance of Proof of Reserves [5] Bitcoin Trading & Market Dynamics - Discusses Bitcoin trading cycles and strategies [5] - Addresses the shrinking Bitcoin reserves [5] - Mentions Bitcoin price predictions and the presence of FUD (Fear, Uncertainty, and Doubt) in the market [5]

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RT Chaitanya Jain (@_ChaitanyaJ)My Bitcoin Treasury & $MSTR Playbook discussion with @IIICapital.0:00 - Intro0:31 - Harvard to Strategy: CJ’s bitcoin treasury role2:24 - The most important KPI for bitcoin treasury companies5:14 - Why outperforming bitcoin is the ultimate benchmark6:59 - Short-term price dislocations vs long-term performance9:24 - Saylor’s forever time horizon11:00 - Why volatility and volume matter for capital markets strategy13:08 - The ideal bitcoin strategy for emerging treasury companie ...

Company Success - Nakamoto's deal closing is a positive sign for Bitcoin Treasury companies like $NAKA [1] - DavidFBailey's contribution is considered an incredible asset to Bitcoin [1] Bitcoin Ecosystem - Success of Bitcoin Treasury companies like $NAKA is beneficial for Bitcoin [1]

Core Viewpoint - Genius Group Limited is pursuing a dual listing on an Asian exchange to enhance shareholder value and accessibility, responding to interest from Asia-based investors [1][5]. Group 1: Company Overview - Genius Group is a Bitcoin-first education company that provides AI-powered solutions, serving 5.8 million users across over 100 countries [6]. - The company has been publicly listed on NYSE American since April 2022, with a majority of its shareholders based in Asia and Oceania prior to the IPO [2]. Group 2: Dual Listing Rationale - A dual listing in Asia is expected to facilitate easier access for shareholders in regions such as Japan, Korea, China, India, Southeast Asia, and Australia [2]. - The company believes that a dual listing would also benefit shareholders in North America and Europe by providing additional liquidity, fair price discovery, and 24-hour trading [3]. Group 3: Implementation Plan - The Board of Directors has approved the pursuit of a dual listing and directed management to appoint experts to identify the most suitable Asian exchange [4]. - The selection process for the exchange is anticipated to take two to three months, with updates to be provided to investors once a suitable exchange is identified [5]. Group 4: Market Position - The CEO of Genius Group highlighted the company's potential to lead in the Asian market for public Bitcoin Treasury companies, which is still in its early phases compared to the US [5]. - Current investors have shown strong interest in a dual listing in South Korea, with Australia, Malaysia, Thailand, Hong Kong, and Japan also being considered as potential locations [5].

Top 100 Bitcoin treasury companies hold almost 1 MILLION Bitcoin 🤯 https://t.co/bNs8I0WZMe ...

Financial Data and Key Metrics Changes - CleanSpark reported record-setting revenue of approximately $199 million for the third quarter, representing a 94% increase year-over-year and a 9% increase from the previous quarter [5][33] - Earnings per share reached $0.90, supported by gross margins of 54.6% [5][34] - The company produced 20.12 Bitcoin during the quarter, a 28% increase compared to the same quarter last year [33] - The total Bitcoin treasury grew to approximately $1.08 billion, an increase of over $100 million since the last quarter [6][39] - The marginal cost per Bitcoin was $44,806, reflecting a 5% increase over the previous quarter, primarily due to increased mining difficulty [36] Business Line Data and Key Metrics Changes - CleanSpark achieved an operational hash rate of 50 exahash, marking a significant milestone as the first publicly traded company to reach this level with American infrastructure [7][9] - The average power efficiency of the mining fleet improved to just over 16 joules per terahash [7] - The all-in cost per kilowatt hour decreased to $0.56, nearly $0 lower than in the second quarter [8][36] Market Data and Key Metrics Changes - The company holds approximately 5.6% of the global hash rate, an increase from 4.3% at the end of fiscal 2024 [15][16] - The average revenue recognized per Bitcoin produced was approximately $99,000, a 50% increase year-over-year [34] Company Strategy and Development Direction - CleanSpark aims to become the global leader in Bitcoin mining, focusing on operational excellence and capital stewardship [10][31] - The company is evaluating approximately 1.2 gigawatts of near-term power opportunities and an additional 1.7 gigawatts of long-term projects [21][22] - The strategy includes a balanced approach between monetizing new production and growing the Bitcoin treasury [47][48] Management's Comments on Operating Environment and Future Outlook - Management highlighted supportive macro and policy tailwinds, including recent regulatory developments that could drive increased demand for Bitcoin [23][24] - The company is optimistic about the future, expecting to capture a greater share of the global hash rate and continue its growth trajectory [14][15] Other Important Information - CleanSpark's total debt stands at approximately $820 million, with a significant portion related to a convertible transaction [39] - The company has onboarded several high-quality counterparties for its digital asset management team and completed its first derivative transaction [40][41] Q&A Session Summary Question: Can you elaborate on the 200 megawatts of additional contracted power available? - Management indicated that the 200 megawatts are in areas of existing operations and will focus on rolling out the next phase of infrastructure quickly [54][55] Question: What is the current M&A landscape and appetite for potential deals? - Management sees a robust pipeline in the private space and is ready to take advantage of opportunities as miners pivot to other areas [57][59] Question: When do you expect to reach targeted run rates for the digital asset management strategy? - Management expects a ramp-up in the coming quarters, with a measured approach to onboarding additional counterparties [62][64] Question: How are conversations with utility partners regarding the growth pipeline? - Management emphasized the flexibility of their operations, which positions them favorably in discussions with utilities [66][68] Question: What percentage of the Bitcoin treasury will be used for yield generation? - Management plans to use approximately 40% of the huddle balance to generate a target yield of 4% [72][73] Question: How does the company view the existing tariff environment regarding fleet expansion? - Management acknowledged the secondary market for hardware purchases as an option and noted the fluctuating tariff environment [108]