Latest news with #BitcoinTreasuryStrategy
Yahoo
a day ago
- Business
- Yahoo
Weekly Recap: Circle Scores Big on IPO Fever
It was a week of fortunes made, and fortunes lost, at CoinDesk. On the one hand, we had Circle, long a leading crypto company, hurtling to IPO and making bank. Its shares were priced at $110 at press time (up from $31 Wednesday), leading many to expect a summer and fall of crypto-themed IPOs. On the other, we saw HyperLiquid trader James Wynn go from having a $100 million BTC position one day to a massive loss the next. (Kids, beware the big, bad leverage monster). Most of the market portents looked good, though. Crypto money-raising season was in full swing. Groups doubled-down on the Bitcoin Treasury Strategy, not least Metaplanet, Japan's answer to Michael Saylor's Strategy. Solana's memecoin juggernaut, said it was lining up $1 billion at a $4 billion valuation. One of its children, Fartcoin, surged on rumors of a Coinbase listing. Crypto technology continued to get integrated into mainstream products. Prediction markets from Polymarket are coming to X and xAI. Uber, Apple, Airbnb and others said they were hoping to combine stablecoins into their payment offerings. Revolut said it would soon offer derivatives. And so on. Still, Trump and Musk dominated coverage as normal (probably to an unhealthy degree). On Thursday, Trump's media company Truth Social said it would launch its own Bitcoin ETF. (By Friday, it was set to issue more shares as well.) The Trump-Musk feud, which also broke this week, highlighted the U.S.'s precarious debt situation (a key driver for bitcoin's existence). But so far bitcoin, and dogecoin, prices are down on the news. Really anything is possible in the weeks ahead. 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 Upturn
19-05-2025
- Business
- Business Upturn
BitMine Launches Bitcoin Treasury Advisory Practice and Enters into $4M Transaction with First BTC Treasury Advisory Client
LAS VEGAS, May 19, 2025 (GLOBE NEWSWIRE) — BitMine Immersion Technologies, Inc. (OTCQX: BMNRD) today announced the launch of its Bitcoin Treasury Advisory Practice, alongside a $4 million strategic transaction with a U.S. exchange-listed company. BitMine is offering 'Mining as a Service,' or MaaS, to the strategic partner and plans to offer MaaS to companies that own Bitcoin and wish to add Bitcoin denominated revenue, in addition to Bitcoin, as a core treasury holding. Upon closing of the strategic agreement, BitMine will lease 3,000 Bitcoin ASIC miners to the client through December 30, 2025, for $3.2 million, with $1.6 million paid upfront. The client has also engaged BitMine for an $800,000 consulting agreement for one year, focused on Bitcoin Mining-as-a-Service and Bitcoin Treasury Strategy. This marks the first client for BitMine's new advisory business, which supports public companies with Bitcoin-based revenue strategies, GAAP accounting insights, custody solutions, and BTC/USD hedging. 'Currently, there are almost 100 public companies that have adopted Bitcoin as a treasury holding. We expect this number to grow in the future. As more companies adopt Bitcoin treasury strategies, the need for infrastructure, revenue generation, and expert guidance grows along with it,' said Jonathan Bates, CEO of BitMine. 'This single transaction is greater than our entire 2024 fiscal year revenue, and we feel there is an opportunity to acquire more clients in the near future as interest in Bitcoin ownership grows.' About BitMine Immersion Technologies, Inc. BitMine is a Bitcoin Network Company, with a focus on Bitcoin mining, Synthetic Bitcoin Mining through involvement in Bitcoin mining hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas. Forward-Looking Statements: This press release contains statements that constitute 'forward-looking statements.' The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding expected revenue from strategic transactions and future business opportunities. In evaluating these forward-looking statements, you should consider various factors, including: our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (the 'SEC') on April 3, 2025, and its Quarterly Report on Form 10-Q filed with the SEC on April 14, 2025, and all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. BitMine Immersion Technologies Contact: Jonathan Bates, Chairman and CEO [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Associated Press
21-02-2025
- Business
- Associated Press
TMR Capital Sends an Open Letter Regarding Opportunistic MBO of WM Technology, Inc. (MAPS) and Urges Company to Buy Bitcoin Instead and Become the MicroStrategy (aka Strategy) for Cannabis
TMR Capital (hereinafter referred to as 'we' or 'our firm') is a shareholder of MAPS. This press release features multimedia. View the full release here: We believe that WM Technology, Inc. (hereinafter referred to as the 'Company') proposed privatization dramatically undervalues the Company and is not the best path to maximizing shareholder value. Instead, in our letter, we urge the Company to announce and implement a Bitcoin Treasury Strategy, following in the footsteps of Strategy (MSTR), Tesla (TSLA), MetaPlanet (3350), and KULR Technology Group (KULR) who have since become the best performing stocks in their category. This would be a bold plan that will shock the capital markets, enhance the Company's balance sheet and free cash flow, and put them on the map in terms of sell side and buy side interest. Since Strategy adopted its Bitcoin strategy in August 2020, its stock has vastly outperformed all relevant benchmarks. Prior to MSTR adopting its Bitcoin strategy, MSTR's stock was flat for over a decade. MSTR's adoption of its Bitcoin strategy has also resulted in significantly more institutional and retail interest in the company. The strong performance of MSTR's convertible bonds issued to buy Bitcoin has attracted institutional investors. Metaplanet adopted its Bitcoin strategy in early 2024. The stock is up almost 40x. Prior to April 2024, the stock was declining for the past decade+ and headed towards bankruptcy. Of the 55,000 listed companies globally, Metaplanet ranked #1 for % return in 2024 among those with a >$250M market cap and >$50M average daily trading volume, delivering a ~2600% return. Metaplanet delivered the highest percentage return in Japan in 2024, demonstrating the strong interest in a Bitcoin-only strategy in one of the world's most dynamic markets. The growing global acceptance of bitcoin is still in its early stages. Companies, financial institutions, governments, and the capital markets are recognizing and incorporating block chain technology, and specifically, BTC into their overall economic toolkits. Given the unique characteristics of BTC, it provides long term appreciation and a bulwark against geopolitical, inflationary, and other macro-economic and political trends affecting all developed economies. The Trump administration has signaled a significant shift towards a more crypto-friendly stance in the United States, marking a departure from the previous administration's approach. On January 23, 2025, President Trump signed an executive order titled 'Strengthening American Leadership in Digital Financial Technology'. This order establishes a federal policy to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy. Senator Cynthia Lummis (R-Wyoming) introduced a proposal for a national strategic bitcoin reserve, and President Trump recently highlighted the possibility of establishing a national bitcoin stockpile. Repurchasing shares and/or issuing a dividend will not be enough to get the Company out of its disastrous start in the public markets. M&A is difficult and has a high failure rate. Companies that adopt the Bitcoin strategy can trade at a premium to NAV which enables highly accretive share issuances to buy more Bitcoin. The Bitcoin strategy provides a path for sustainable growth and acts as an immediate catalyst for the stock, something that shareholders desperately need. Therefore, we urge the Company to immediately purchase $21M worth of Bitcoin, adopt Bitcoin as a primary asset in its treasury program, commit to allocate up to 90% of its surplus cash into BTC, and commit to the Bitcoin strategy of buying BTC and issuing shares at a premium to NAV to buy more BTC. We can help accelerate this by potentially doing a $30M+ PIPE. We have made this open letter public to raise awareness among other investors about this problematic MBO and to start the discussion around adopting a Bitcoin strategy. SOURCE: TMR Capital Copyright Business Wire 2025. PUB: 02/21/2025 11:24 AM/DISC: 02/21/2025 11:24 AM
Globe and Mail
08-02-2025
- Business
- Globe and Mail
MicroStrategy Paused Its Bitcoin Buying Spree. Is That Bad News for MSTR Stock?
Valued at a market cap of $80.7 billion, MicroStrategy (MSTR) provides enterprise software solutions. However, the tech company is also the largest institutional holder of Bitcoin (BTCUSD), which means the performance of MSTR stock is tied to BTC prices. MicroStrategy began accumulating Bitcoin on its balance sheet back in June 2020. Today, it owns 471,000 BTC worth over $45 billion. After an aggressive buying spree that saw MicroStrategy amass its Bitcoin holdings, the software company hit the pause button, surprising Wall Street. Let's see what this means for MSTR stock. MicroStrategy Just Rebranded Itself MicroStrategy announced its fourth-quarter results yesterday. During the earnings call, the company announced that it has changed its name to 'Strategy.' This move simplifies the company's brand, while the logo includes the 'B,' which emphasizes its Bitcoin Treasury Strategy. Strategy's press release stated, 'This brand simplification is a natural evolution of the company, reflecting its focus and broad appeal.' In 2024, MicroStrategy acquired 258,320 BTC at an average price of $85,447. Notably, it announced a significant accounting change: Strategy will shift to fair value accounting, resulting in a $12.75 billion positive adjustment in Q1 2025. MicroStrategy's Bitcoin bet exposes investors to the world's largest digital asset. MSTR stock has returned over 2,000% to shareholders in the last five years, crushing broader market returns by a wide margin. In fact, MSTR has achieved annualized returns of 110% since adopting its Bitcoin strategy. However, investors should also note that MSTR stock is quite volatile, while its debt-driven BTC acquisition strategy is risky. Over the years, MicroStrategy has raised capital several times by issuing debt and common stock to build its BTC position. MicroStrategy introduced a new 'Strike' preferred stock, raising $584 million. It was also the largest convertible bond issuer in 2024. The company ended 2024 with $4.2 billion in long-term debt, up from $486 million in 2020. This approach could backfire if Bitcoin prices plummet or if interest rates move higher, both of which might force the company to liquidate its BTC holdings at unfavorable prices. MSTR Stock Is a Leveraged Bitcoin Bet MicroStrategy's total sales are less than $500 million, showing that the company is a leveraged Bitcoin play. Today, MSTR stock is valued at 2x its BTC holdings. Recently, MicroStrategy unveiled an ambitious capital raising initiative dubbed the '21/21' Plan. Basically, it plans to raise $21 billion in equity and $21 billion in debt over the next three years to invest in Bitcoin. In Q1 2025, MicroStrategy plans to raise an additional $2 billion through public preferred stock offerings. MicroStrategy remains an enticing investment for Bitcoin enthusiasts. Moreover, President Donald Trump is expected to provide a crypto-friendly environment, which could drive institutional adoption of this asset class. Each of the 10 analysts covering MSTR stock has a 'Strong Buy' recommendation. The average target price for MSTR stock is $556, over 50% above the current trading price.
Yahoo
05-02-2025
- Business
- Yahoo
MicroStrategy Rebrands to Strategy
MicroStrategy (MSTR) has changed its name to Strategy in a move to simplify its brand and reflect the focus of the company, it announced Wednesday. Strategy's new logo includes the famous Bitcoin 'B', signaling the company's Bitcoin Treasury Strategy, and the name's new primary color is orange. 'This brand simplification is a natural evolution of the company, reflecting its focus and broad appeal,' a press release stated. MicroStrategy, founded by now-Executive Chairman Michael Saylor, was primarily a software and infrastructure company since its 1989 debut. In the past five years, however, it has gradually shifted to become primarily focused on the accumulation of bitcoin, with its operating software business only a small fraction of the company valuation. Last year, the company began calling itself a Bitcoin Strategy Company. Strategy is announcing fourth-quarter earnings results after the close on Wednesday, with analysts expecting the firm to report a net loss as it continues to hold off marking higher its bitcoin holdings.
