Crypto Firm Bitdeer Prioritizes Mining to Weather Tariff Turmoil
With demand for Bitcoin mining rigs faltering, Singapore-headquartered based Bitdeer will focus on using its rigs to mine Bitcoin for itself — rather than selling them to other miners, according to Jeff LaBerge, head of capital markets and strategic initiatives at the company.
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Yahoo
23 minutes ago
- Yahoo
UMB Financial Corp (UMBF) Q2 2025 Earnings Call Highlights: Strong Loan Growth and Strategic ...
Net Income: $215.4 million, including $13.5 million of acquisition expense. Net Operating Income: $225.4 million or $2.96 per share. Pre-Tax Gain on Investments: $37.7 million, including $29.4 million from Voyager technologies. Net Charge-Offs: $9 million or 13 basis points of average UMB loans. Non-Performing Loans Ratio: Improved by 2 basis points to 26 basis points. CET1 Ratio: 10.39%, a 28 basis point increase from March 31st. Average Loans Growth: Increased 12.7% to $36.4 billion. Average Deposits Growth: Increased 10.7% to $55.6 billion. Net Accretion to Net Interest Income: $42.2 million, with a 27 basis point margin benefit. Assets Under Administration: Grew to $543 billion in fund services, $600 billion in institutional banking. Credit and Debit Card Purchase Volumes: $5.6 billion, driving a 10.4% increase in fees. Operating Expenses: $23.4 million in acquisition-related amortization of intangibles. Preferred Stock Offering: Netting $294 million of Tier 1 capital. Effective Tax Rate: Expected between 19% and 21% for the full year 2025. Warning! GuruFocus has detected 2 Warning Sign with UMBF. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points UMB Financial Corp (NASDAQ:UMBF) reported strong net income available for common shareholders of $215.4 million, with a significant pre-tax gain of $37.7 million from prior investments. The company achieved a notable 8 basis point expansion in net interest margin and double-digit balance sheet growth. Average loans increased by 12.7% to $36.4 billion, and average deposits rose by 10.7% to $55.6 billion, reflecting solid organic growth. UMB Financial Corp (NASDAQ:UMBF) successfully executed a pilot conversion of Heartland's Minnesota franchise, positioning well for a full conversion in October. The company completed an offering of Series B preferred stock, netting $294 million of Tier 1 capital, enhancing its capital position. Negative Points The company incurred $13.5 million in acquisition expenses, impacting overall net income. Total net charge-offs for the quarter were 17 basis points, with credit card charge-offs being a significant contributor. Operating expenses included $23.4 million in acquisition-related amortization of intangibles, adding to the cost burden. UMB Financial Corp (NASDAQ:UMBF) anticipates third-quarter operating expenses to be slightly higher, driven by merit increases and incentive accruals. The cost of interest-bearing deposits remained flat, but total deposit costs increased, reflecting a mixed shift. Q & A Highlights Q: Can you provide more details on the significant loan growth this quarter and how much of it is attributed to Heartland? A: Mariner Kemper, Chairman and CEO, explained that the loan growth aligns with expectations, with strong production from both Heartland and UMB's legacy team. The quarter saw nearly $2 billion in top-line production, and similar numbers are expected in the next quarter across all categories and regions. Q: How are you managing the alignment of the UMB and Heartland portfolios, and what impact do you expect from payoffs and paydowns? A: Mariner Kemper noted that while some credits may not align with UMB's standards and could be phased out, the overall impact on the balance sheet will be immaterial. The focus is on maintaining a stable payoff level on a combined basis. Q: What is the expected impact of the HSA changes under the new budget bill on long-term growth in deposits and fees? A: Jim Rine, President and CEO of UMB Bank, stated that while the changes could open up eligibility to around 7 million more people, the impact is expected to be marginal. 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Q: How is the Heartland team contributing to balance sheet growth, and is there more capacity for growth? A: Mariner Kemper stated that the Heartland team is just beginning to show its potential, with significant opportunities for future contributions to balance sheet growth. The current results are only the start of what the team can achieve. Q: What is the outlook for the core margin, and how might it be affected by potential Fed rate cuts? A: Ram Shankar explained that the core margin is expected to remain flat in the third quarter. If the Fed cuts rates, it could positively impact the margin as indexed deposits would reprice down. The company is prepared for various scenarios, with fixed asset repricing and other factors providing potential tailwinds. Q: How sustainable is the growth rate in fund services revenue, and what are the prospects for this business line? A: Mariner Kemper expressed confidence in the fund services business, citing strong client service ratings and a robust technology stack. The business benefits from industry disruption and a strong pipeline, with expectations for continued growth driven by both existing client success and new business acquisition. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
25 minutes ago
- Business Insider
Bitget Lists Naoris Protocol (NAORIS) for Spot Trading
Bitget, the leading cryptocurrency exchange and Web3 company, has announced the addition of Naoris Protocol (NAORIS) in the Innovation Zone, for spot trading. NAORIS powers the world's first Decentralized Post-Quantum Infrastructure, securing Web3, Web2, and blockchain ecosystems within a real-time, self-healing defense mesh. Trading for the NAORIS/USDT pair will begin on 31 July 2025, 12:00 (UTC), with withdrawals available from 1 August 2025, 13:00 (UTC). Naoris Protocol reimagines cybersecurity by turning every connected device into a cyber-trusted validator node, establishing a decentralized and scalable alternative to conventional security models. Leveraging post-quantum cryptography approved by NIST and NATO, the protocol is built to withstand the evolving landscape of AI-powered and quantum-era threats. At the heart of the ecosystem is NAORIS, the native utility and governance token, which powers a continuous, machine-to-machine trust economy. This framework ensures critical infrastructure and digital assets remain verifiably secure, resilient, and digitally trusted, even in the face of post-quantum challenges. Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of Naoris Protocol into Bitget's portfolio marks a significant step toward expanding its ecosystem by embracing decentralized cybersecurity infrastructure, post-quantum resilience, and a machine-to-machine trust economy designed to safeguard the future of Web3 in an increasingly AI-driven world. For more details on Naoris Protocol, visit here. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP, one of the world's most thrilling championships. For media inquiries, please contact: media@ Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
Yahoo
33 minutes ago
- Yahoo
Bitcoin Creator Satoshi Nakamoto Once Said He Had No Time To 'Convince' Non-Believers: Why Coinbase CEO Brought It Up After 15 Years
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Brian Armstrong, CEO of cryptocurrency exchange Coinbase, recalled on Tuesday a famous quote by Bitcoin (CRYPTO: BTC) creator Satoshi Nakamoto from 15 years ago. What Happened: Armstrong highlighted a quote from the pseudonymous creator from a Bitcointalk forum conversation on July 30, 2010. Satoshi was responding to questions about Bitcoin's ability to handle a large number of transactions and users, with specific concerns around the 10 minutes taken to mine one block "If you don't believe me or don't get it, I don't have time to try to convince you, sorry,' Satoshi responded. Trending: Be part of the breakthrough that could replace plastic as we know it— Reflecting on the quote, Armstrong stated that while it took some time, 'hundreds of millions of people' now understand Bitcoin, underlining how knowledge and use of the major cryptocurrency have progressed over the Satoshi made that remark, Bitcoin traded at $0.06374 apiece. Today, it is a staggering 185102000% It Matters: Armstrong has long admired Satoshi and confessed that he began working on Coinbase after reading the Bitcoin whitepaper authored by the mysterious personality. Last month, Armstrong unveiled Coinbase's upcoming cryptocurrency credit card, engraved with Bitcoin's Genesis block, created by Satoshi back in 2009 Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo Courtesy: Szabolcs Magyar On This article Bitcoin Creator Satoshi Nakamoto Once Said He Had No Time To 'Convince' Non-Believers: Why Coinbase CEO Brought It Up After 15 Years originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
