Author: Mengqi | Editor: Mengqi

1. Bitcoin Market

Bitcoin Price Trend (2025/08/09 - 2025/08/15)

This week, Bitcoin's price showed a rhythm of "steady rise - brief pullback - new highs - technical correction," maintaining a high-level oscillation range. The price structure is clear, with the intertwining of capital flow and news flow driving both short-term fluctuations and trend continuation.

Steady Rise Phase (August 9 - August 11)

On August 9, Bitcoin's price climbed from $115,939 to $117,774; on August 10, it rose from $116,592 to $118,897; on August 11, it quickly surged from $118,257 to $122,292. During this period, the price lows continued to rise, and the candlestick pattern formed a stable upward channel. The dominance of bulls was evident, with buying power being steadily released, and trading volume moderately increased, indicating that institutions and long-term funds entered the market simultaneously, leading to a positive market sentiment.

Pullback Phase (August 11 - August 12)

After reaching $122,292 on August 11, bearish forces strengthened, triggering profit-taking, and the price fell back to $118,248. The support level around $118,000 effectively prevented further declines. During the downward process, trading volume did not significantly increase, indicating that the selling pressure mainly came from short-term funds, while long-term funds chose to remain on the sidelines without large-scale withdrawals.

Surge Phase (August 12 - August 14)

On August 13, Bitcoin rose again from $119,042 to $122,048; on August 14, it further climbed to $124,210, setting a new historical high with an intraday increase of up to 3.4%. Notably, during the surge, the battle between bulls and bears intensified, with short-term rapid rises and falls appearing on the chart, indicating a significant increase in short-term fund participation. The leverage usage in the derivatives market rose, accelerating the price increase while also embedding risks for short-term corrections.

Technical Correction Phase (August 14 - August 15)

On August 14, after setting a historical high, Bitcoin failed to stabilize effectively and entered a rapid adjustment, dropping to a low of $117,477 on the 15th. As of the time of writing, the price hovered around $118,310. This round of correction was influenced by multiple negative factors: the U.S. PPI significantly exceeded expectations, dampening interest rate cut expectations; the technical formation of a "double top" accompanied by leveraged liquidations, with over $1 billion in forced liquidations across the market; and the U.S. Treasury's announcement of no further Bitcoin purchases, cooling policy buying expectations, collectively triggering selling pressure at high levels.

Outlook

In the short term, although the technical correction has interrupted the upward rhythm, the price remains in the historical high range. If the support zone of $117,500 - $118,000 remains effective, the market is expected to restart its upward movement after digesting macro and technical pressures. Short-term attention should be paid to the deleveraging progress in the derivatives market and the latest speeches from Federal Reserve officials.

In the long term, the bull market structure remains solid. The mid-to-long-term interest rate cut expectations from the Federal Reserve have not changed, and the trend of institutional capital inflow continues. The Trump administration's easing of restrictions on cryptocurrency investments also constitutes a long-term positive. If the macro liquidity environment continues to improve, the probability of Bitcoin maintaining a bull market pattern in the second half of 2025 remains high.

2. Market Dynamics and Macroeconomic Background

Capital Flow

1. BTC Steadily Attracts Capital, ETH Institutional Holdings Reach New Highs

In early August, both Bitcoin and Ethereum attracted significant institutional capital, continuing the trend of net inflows since the second quarter.

• August 11: +$178.1 million
• August 12: +$65.9 million
• August 13: +$86.9 million
• August 14: -$292.9 million

ETF Inflow/Outflow Data Image

Meanwhile, as of August 12, Ethereum ETFs and corporate reserves accounted for 7.98% of the total supply, significantly higher than 3% in early April. Among them, ETFs hold over 6.15 million ETH (over 5% of the supply), with representative corporate holdings including:

• Bitmine Immersion Tech: 1.2 million
• The Ether Machine: 598,800
• SharpLink Gaming: 345,400

Since early April, the price of ETH has risen from $1,800 to about $4,300, with the fund size doubling to $31.9 billion in just one month. Many institutions, having missed the Bitcoin treasury allocation wave, are now viewing Ethereum as a strategic asset with high potential returns and diverse application scenarios, especially against the backdrop of rising DeFi, L2, and Ethereum ETF trading volumes, leading to a noticeable increase in capital allocation enthusiasm.

2. Digital Asset Investment Product Capital Trends

CoinShares' latest data shows that last week, digital asset investment products overall returned to net inflows, totaling $572 million.

• Early in the week: influenced by weak U.S. employment data, outflows reached $1 billion.
• Later in the week: stimulated by the U.S. government's approval of digital asset allocations in 401(k) retirement plans, recorded a strong inflow of $1.57 billion.
• Ethereum ETPs performed outstandingly, attracting $268 million in inflows in a single week, setting a new record for weekly capital attraction this year, bringing the total inflow of digital assets year-to-date to $8.2 billion, with assets under management (AUM) also surpassing a historical high of $32.6 billion.

Digital Asset Capital Flow Data

3. Market Structure Changes: BTC Market Share Declines, Capital Shifts to Altcoins

On August 11, Bitcoin's market share (BTC.D) declined by 3.22% to 60.5% over the past week, briefly falling below 60% on August 13, marking a new low since February this year.

During the same period, the total market cap of cryptocurrencies rose by 9.51% over the past week:

• Market cap excluding BTC (TOTAL 2) rose by 15.44%
• Market cap excluding BTC and ETH (TOTAL 3) rose by 11.11%

Capital has clearly shifted towards altcoins, especially as the price of Ethereum has surpassed $4,700, becoming a major driving force for the market's rise.

4. On-chain Supply and Demand Changes: Buying Pressure Exceeds Miner Output, Miners Recently Selling

On-chain data shows that retail and institutional buying pressure has surpassed miner output:

Demand side: Small and medium wallet holders' Bitcoin purchases have exceeded current miner output levels; institutional and corporate large wallets have accumulated significantly more than miner production over the past two years, indicating sustained and strong buying demand, exacerbating on-chain BTC scarcity.

Supply side: According to CryptoQuant data, from August 10 to August 13, miners cumulatively sold over 2,000 BTC, indicating that miners engaged in some cashing out behavior at high prices.

5. Divergence in Long-term and Short-term Holder Behavior

• Long-term holders: In July, the average daily profit realization exceeded $1 billion, but slowed in August. This round of profit-taking mainly came from investors holding coins for 3-5 years in the previous cycle, rather than new ETF purchases in early 2024.
• Short-term holders: Since June 21, net holdings have increased by 220,000 BTC (+9.9%), but the growth rate has halved compared to the Q1 peak (+540,000, +25%), indicating a decline in short-term buying activity.

Data on Long-term and Short-term Bitcoin Holders

Technical Indicator Analysis

1. Relative Strength Index (RSI 14)

According to Investing.com data, as of August 15, 2025, Bitcoin's 14-day Relative Strength Index (RSI) was 42.354, in the neutral to weak zone (30-50 range). The RSI is close to 40, indicating that recent selling pressure is slightly strong, but has not yet reached the oversold area (RSI < 30), suggesting limited downward momentum. If the RSI continues to rise above 50, it may indicate enhanced buying pressure in the short term, with prices likely stabilizing and rebounding; if it falls below 40, caution should be exercised regarding increased short-term correction pressure.

2. Moving Average (MA) Analysis

MA 5 (5-day moving average): $120,039

MA 20 (20-day moving average): $118,103

MA 50 (50-day moving average): $113,752

MA 100 (100-day moving average): $105,370

Current price: $118,821

MA 5, MA 20, MA 50, MA 100 Data Image

From the arrangement of moving averages, the short-term moving averages (MA 5, MA 20) show an upward turning trend, but MA 5 is slightly above the current price, indicating that short-term prices may be pressured at the moving average level. The mid-term moving average (MA 50) remains below the current price, forming support, indicating that the overall mid-term trend is still bullish. The long-term moving average (MA 100) is far below the current price, indicating that the long-term trend remains strong, with bullish foundations still in place. The arrangement of moving averages shows an alternating state of bullish and bearish, suggesting the possibility of short-term oscillation and consolidation; if MA 5 breaks above MA 20 to form a golden cross, short-term upward momentum is expected to strengthen.

3. Key Support and Resistance Levels

Support Levels: The key short-term support levels are at $118,000 and $117,500. If the support zone remains effective, the short-term market is expected to gradually recover, with prices accumulating energy in this area, providing opportunities for gradual rebounds.

Resistance Levels: The primary short-term resistance levels are at $120,000 and $122,000. If the price breaks through the $120,000 mark, it may trigger a short-term acceleration in price increase, significantly enhancing bullish sentiment; if it encounters resistance and falls back, it may continue to oscillate within the $118,000 - $120,000 range.

Comprehensive Analysis

Currently, Bitcoin's price is in a mid-to-short-term consolidation phase, with market forces relatively balanced between bulls and bears. From a technical indicator perspective, the RSI shows a slight bearish bias, but has not yet entered the oversold area, indicating that the downside risk is relatively controllable. At the same time, the arrangement of moving averages indicates that the mid-to-long-term trend remains bullish, with prices likely oscillating near support levels to accumulate energy for subsequent upward movements. Regarding key resistance levels, if the price can break through the $120,000 mark, it is expected to trigger a short-term rebound, significantly enhancing bullish sentiment; conversely, if it encounters resistance and falls back, prices may continue to oscillate and consolidate, with short-term attention still needed on the effectiveness of support levels to judge market trends.

Market Sentiment Analysis

As of August 15, the Fear & Greed Index reported a value of 59, in the "neutral to greedy" range, indicating that overall market sentiment is optimistic, but there are no signs of excessive greed yet. Investor sentiment remains cautiously optimistic, with market risk appetite gradually recovering in the short term.

Looking back at this week (August 9 - August 14), the daily values of the Fear & Greed Index were: 58 (neutral to greedy), 59 (neutral to greedy), 62 (greedy), 60 (neutral to greedy), 63 (greedy), 68 (greedy). The index maintained a range of 58-68 this week, showing an overall upward trend, indicating that market sentiment is gradually shifting from neutral to optimistic and greedy.

Structurally, the index gradually increased this week, with a brief drop on August 12 mainly influenced by Bitcoin's price correction, showing that investors remained cautiously observant during price declines. From August 13 to 14, Bitcoin's price rebound boosted market sentiment, further increasing investors' risk appetite. However, from August 14 to 15, the price experienced a technical correction, causing a slight decline in the sentiment index.

Overall, the Fear & Greed Index indicates that market sentiment has recently maintained a volatile trend, with investors generally leaning towards optimism, but without extreme greed, suggesting that there is still room for market fluctuations in the short term, and investors should continue to pay attention to key support levels and potential correction risks.

Fear & Greed Index Data Image

Macroeconomic Background

1. U.S. Inflation Data and Federal Reserve Rate Cut Expectations

Consumer Price Index (CPI): According to data from the U.S. Bureau of Labor Statistics (BLS), in July 2025, the U.S. urban consumer CPI increased by 2.7% year-on-year, unchanged from the previous month and slightly below market expectations of 2.8%; month-on-month growth was 0.2%, indicating some relief in inflation pressure. After the CPI data was released, the market generally expected that the Federal Reserve might cut rates in the upcoming September meeting. U.S. Treasury Secretary Scott Bessent pointed out that considering the recent slowdown in employment growth and moderate inflation, he suggested that the Federal Reserve cut rates by 50 basis points at the next meeting, or even more. This expectation has increased the attractiveness of risk assets, including Bitcoin.

Producer Price Index (PPI): In July, the U.S. PPI rose by 0.9% month-on-month and 3.3% year-on-year, both significantly higher than market expectations. The unexpected PPI data raised concerns about persistent inflation, suggesting that the likelihood of the Federal Reserve cutting rates in the short term has decreased. CoinDesk reported that "Bitcoin and Ethereum quickly fell," while Cointelegraph noted that "the market's probability of a rate cut in September dropped from nearly 100% to about 90.5%," putting pressure on risk assets.

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2. Bitcoin Sets New Historical High, Market Atmosphere Optimistic

During this period, Bitcoin's price rose nearly 32%, continuously refreshing its historical high, breaking through $124,000.

Driving factors include favorable policies and significant inflows of institutional capital: BlackRock CEO Larry Fink publicly supported it, and the IPO of cryptocurrency exchange Bullish attracted substantial funds, further activating market sentiment.

Bitcoin's strong rise reflects investors' high optimism about policy direction and institutional entry, creating an extremely positive market atmosphere.

3. U.S. Treasury Secretary's Latest Statement on Bitcoin Policy

On August 14, 2025, U.S. Treasury Secretary Scott Bessent announced that the U.S. government would no longer purchase additional Bitcoin, retaining only the assets it has seized. This statement led to a brief pullback in Bitcoin's price, mainly influenced by market concerns about potential demand reduction.

However, from a medium-to-long-term perspective, the market generally believes that policy stability helps reduce uncertainty and attract institutional investors. Although short-term fluctuations exist, overall market sentiment remains optimistic, and Bitcoin's price continues to maintain an upward trend.

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4. Global Economic and Market Environment

UK Economy: In the second quarter of 2025, the UK economy grew by 0.3%, exceeding expectations, but exports of U.S. products fell by 13.5%, indicating uncertainty in the global trade environment.

U.S. Stock Market: Despite a rebound in inflation data, major U.S. stock indices performed strongly, reflecting an optimistic market outlook.

3. Hash Rate Changes

This week, Bitcoin's network hash rate exhibited a dynamic trend of "decline - oscillation - rapid rise." On August 9, the hash rate fell to a weekly low of 658.70 EH/s, indicating a slight adjustment in miners' computing power. From August 10 to 13, the hash rate fluctuated between 800 EH/s and 1 ZH/s, with a brief breakthrough above 1 ZH/s on August 13, rising to 1.0918 ZH/s, indicating that miners' computing power began to recover actively. On August 14, the hash rate surged strongly to 1.2275 ZH/s, setting a new historical high, reflecting miners' active investment in computing power and further enhancing network security. Overall, this week, Bitcoin's network computing power showed a trend of restorative growth, while the volatility range significantly expanded, reflecting the simultaneous increase in miners' participation enthusiasm and market activity.

Weekly Bitcoin Network Hash Rate Data

From a monthly perspective, Bitcoin's network hash rate shows an overall upward trend, with an increase in volatility. On August 9, the hash rate was 658.70 EH/s, marking the monthly low; on August 14, the hash rate reached 1.2275 ZH/s, a recent high, with an increase of about 86.4%. This trend indicates that miners' computing power continues to flow into the network, enhancing network security, while also suggesting that the economics of Bitcoin mining remain attractive at the current price level.

Monthly Bitcoin Network Hash Rate Data

From a quarterly perspective, Bitcoin's network hash rate shows a long-term growth trend, with gradually increasing volatility. This indicates:

1. Continuous upgrades of mining equipment, with new-generation mining machines being put into production, increasing computing power density.

2. An increase in the concentration of network computing power, with some large mining pools significantly contributing to total computing power.

3. The rise in hash rate is accompanied by price fluctuations, reflecting an increased sensitivity of miners to market expectations.

Overall, quarterly data indicates that Bitcoin's network security is gradually strengthening, with stable increases in computing power participation, but high volatility also suggests that the market may experience adjustments in computing power concentration in the short term, affecting mining revenue and price fluctuations.

Quarterly Bitcoin Network Hash Rate Data

4. Mining Revenue

According to YCharts data, over the past week (August 9 to August 15, 2025), Bitcoin miners' daily total revenue (including block rewards and transaction fees) fluctuated between $43.61 million and $61.61 million, as follows:

August 9: $43.61 million

August 10: $51.01 million

August 11: $55.92 million

August 12: $53.84 million

August 13: $60.05 million

August 14: $61.61 million

Overall, this week, Bitcoin mining revenue showed a trend of rising first and then stabilizing, with a brief drop in revenue mid-week, peaking on August 14, with an overall weekly increase of about 41.3%. This fluctuation was mainly influenced by Bitcoin price volatility and increased network transaction activity, reflecting miners' relatively robust profitability in the current market environment.

From the perspective of daily revenue per unit of computing power (Hashprice), Hashrate Index data shows that as of August 15, 2025, Hashprice was $58.46 per PH/s per day. Previously, on August 14, Hashprice reached a weekly high of $60.71 per PH/s per day, and subsequently, with the pullback in Bitcoin prices, Hashprice also experienced a certain correction, reflecting that unit computing power revenue is highly sensitive to Bitcoin price fluctuations. The multidimensional performance is as follows:

Monthly range: Hashprice is at an upper level within the past 30 days, indicating relatively high short-term miner profitability.

Quarterly range: It is at the median level within three months, indicating that the cost of computing power and revenue remain balanced, and the market is still attractive.

Annual range: It remains at a high level for the year, reflecting that, in the long term, the overall mining profitability environment remains optimistic.

Hashprice Data

Recent fluctuations in Hashprice are closely related to Bitcoin prices and network computing power. This week, Bitcoin prices remained high, while the growth rate of network computing power slowed, keeping unit computing power revenue at a relatively high level. This means that miners, while maintaining their computing power investment, still have better profitability than most historical periods, providing stable support for the mining ecosystem.

Overall, miners' income is currently at a relatively high level, supported by Bitcoin prices and trading activity in the short term, while unit computing power revenue shows that miners still possess good profitability in the current market environment.

5. Energy Costs and Mining Efficiency

According to CloverPool data, as of August 15, 2025, Bitcoin's total network computing power reached 909.75 EH/s, with mining difficulty at 129.44 T. The next difficulty adjustment is expected to occur on August 23, 2025, with an estimated increase of about 1.36%, bringing the difficulty to an expected 131.19 T. This trend indicates that Bitcoin's network computing power is still steadily rising, with overall miner participation being active, and as mining difficulty increases, the output efficiency of individual mining machines will slightly decline, further enhancing the demand for high-efficiency mining machines.

Bitcoin Mining Difficulty Data

From the perspective of mining costs, according to MacroMicro's latest model calculations, as of August 10, 2025, Bitcoin's unit production cost was approximately $99,407.14, while the spot price during the same period was $119,824.34, with a difference of about $20,417.20. The Mining Cost-to-Price Ratio (MCPR) is 0.80, indicating that miners still have about 20% gross profit margin on average. This data suggests that even against the backdrop of rising difficulty, miners' overall profitability remains robust, and short-term mining enthusiasm is unlikely to decline significantly.

At the same time, the on-chain indicator Puell Multiple remains in the range of 1.29-1.31, indicating that the current miner issuance ratio is at a medium-high level, and has not reached historically extreme overheating or oversold states, meaning that miners' profitability is in a reasonable range, and market supply pressure is temporarily limited.

Overall, the Bitcoin mining market remains robust in terms of energy costs and efficiency. The continuous growth of total network computing power reflects strong miner confidence, but rising difficulty may gradually compress the profit margins of inefficient mining machines, highlighting the competitive advantage of high-efficiency mining machines. Meanwhile, the spot price relative to production costs still has certain profit margins, combined with the on-chain indicators showing miners' issuance levels, indicating that the overall mining ecosystem remains healthy and orderly in the short term.

6. Policy and Regulatory News

Former Montenegrin Justice Minister Proposes Issuing €500 Million Bonds to Establish National Bitcoin Reserves

On August 9, news reported that the former Justice Minister of Montenegro proposed issuing €500 million in bonds to establish a national Bitcoin strategic reserve.

El Salvador Passes Investment Banking Law, Allowing Licensed Banks to Conduct Cryptocurrency Business

On August 10, news reported by Cointelegraph stated that Juan Carlos Reyes, chairman of El Salvador's Digital Assets Commission (CNAD), confirmed that the newly passed Investment Banking Law will allow licensed investment banks to hold digital assets such as Bitcoin and provide cryptocurrency services to qualified investors.

The law clarifies that investment banks can apply for a digital asset service provider (PSAD) license and even operate in a pure Bitcoin banking model. The government stated that this move will attract foreign investment and consolidate its position as a financial innovation center, but critics pointed out that existing cryptocurrency policies mainly benefit institutions rather than the general public.

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China Remains Cautious About Issuing RMB Stablecoins

On August 10, news reported by Caixin stated that due to the development of quantum computing, the security issues of blockchain technology for cryptocurrencies such as Bitcoin have once again escalated. Caixin learned from several policy officials in mainland China that since the end of June, relevant parties have held multiple meetings to discuss the development trends and response strategies for stablecoins and cryptocurrencies, indicating that research should continue, but the hype around the stablecoin boom in public opinion should be toned down. Regulators are also closely monitoring the trends in stablecoins and related technology developments, remaining cautious about issuing RMB stablecoins.

Wisconsin Proposes New Bill SB 386: Bitcoin ATMs Will Be Required to Implement KYC and Set $1,000 Transaction Limit

On August 12, news reported that the Wisconsin State Senate proposed a new bill SB 386, which intends to require all Bitcoin ATMs to fully implement identity verification (KYC), requiring transaction participants to present identification, with a single transaction limit of $1,000, and to collect other personal information to strengthen regulation.

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Seoul's Gangnam District Strengthens Crackdown on Cryptocurrency Tax Evasion, Recovering Approximately $245,000 in Taxes Since Last Year

On August 12, news reported by Cryptonews stated that Gangnam District in Seoul is strengthening tax enforcement actions against cryptocurrency holders. Since the end of last year, the district has recovered approximately 340 million Korean won (about $245,000) in unpaid taxes through the seizure of cryptocurrencies. Gangnam District has collaborated with five major cryptocurrency exchanges in South Korea to seize cryptocurrencies such as Bitcoin to recover unpaid taxes. District officials stated that many residents hold significant virtual assets, and the voluntary payment rate of unpaid taxes has significantly increased after the seizure of these assets.

Brazil's Sixth Largest City Passes Bill to Become the "Bitcoin Capital" of the Country

On August 13, news reported that Brazil's sixth largest city passed a bill in a second round of voting to become the "Bitcoin Capital" of the country.

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7. Mining News

Bitcoin Mining Company TeraWulf Reports Expanded Net Loss of Over $79 Million in First Half of the Year

On August 9, news reported by The Block stated that Bitcoin mining company TeraWulf's second-quarter financial report showed that due to ongoing investments in high-performance computing and mining operations, its net loss for the first half of the year expanded to over $79 million, with operating costs (excluding depreciation) of about $22 million, an increase from $13.9 million in the second quarter of 2024.

After a nearly 3% rise in stock price at the opening, it is currently down nearly 4%. TeraWulf CEO Paul Prager stated, "TeraWulf will continue to execute its strategy to develop scalable and sustainable digital infrastructure to support high-performance computing hosting and proprietary Bitcoin mining."

Ethiopia Suspends Issuing New Power Licenses to Cryptocurrency Mining Companies Due to Capacity Constraints

On August 11, news reported that Ethiopia has suspended issuing new power licenses to cryptocurrency mining companies due to capacity constraints. This decision was made amid a surge in interest in Bitcoin mining. Currently, 25 Bitcoin mining companies are operational, with nearly 20 more awaiting approval, mainly benefiting from Ethiopia's low electricity prices and abundant hydro resources.

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Cango Acquires 50 MW Mining Facility in Georgia for $19.5 Million, 30 MW for Self-Mining

On August 11, news reported by PRNewswire stated that NYSE-listed company Cango Inc. (Ticker: CANG) announced the acquisition of a 50 MW Bitcoin mining facility in Georgia for $19.5 million in cash, officially launching its mining vertical integration strategy. The facility has hosted Cango's mining machines, and after the acquisition, 30 MW of power will be allocated for self-mining, with the remaining capacity providing third-party hosting services.

CEO Peng Yu stated that this acquisition is a key step for the company towards diversification into "mining + energy," with plans to expand into high-performance computing (HPC) in the future. It is reported that Cango has been involved in the cryptocurrency mining sector since November 2024, and this transaction marks its first acquisition of mining assets.

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CleanSpark Founder Matthew Schultz Takes Over as CEO

On August 12, news reported that Bitcoin mining company CleanSpark announced that founder and executive chairman Matthew Schultz would take over as CEO from the resigned Zachary Bradford. Bradford had served as CEO since October 2019. Schultz stated that he would ensure the company's stability and continued development.

MARA Plans to Acquire 64% Stake in EDF's AI Subsidiary for $168 Million

On August 12, news reported by Bloomberg stated that Bitcoin mining company MARA Holdings Inc. plans to acquire a 64% stake in the technology subsidiary Exaion of French electricity company EDF for $168 million in cash.

According to the agreement, MARA also has the option to invest an additional $127 million to increase its stake to 75%. EDF will continue to retain a minority shareholder status.

This acquisition aims to expand MARA's business layout in the field of artificial intelligence infrastructure.

Kazakhstan Uncovers $16.5 Million Electricity Fraud Case Related to Cryptocurrency Miners

On August 12, news reported by Bitcoin.com News revealed that Kazakhstan uncovered a $16.5 million electricity fraud case related to cryptocurrency miners. An energy company illegally supplied electricity to mining operations for two full years, while miners were supposed to purchase excess electricity only through the energy department's platform, but these regulations were ignored.

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Russian Authorities Discover Over 8,000 Illegal Cryptocurrency Miners in Irkutsk, Siberia

On August 12, news reported that Russian authorities discovered over 8,000 illegal cryptocurrency miners in Irkutsk, Siberia.

Thumzup Media Corporation Completes $50 Million Equity Financing to Accumulate Cryptocurrency and Mining Equipment

On August 13, news reported that Thumzup Media Corporation, a social media company backed by Donald Trump Jr. that holds cryptocurrency reserves, announced it has completed a $50 million equity financing at a price of $10 per share, with net proceeds used to accumulate cryptocurrency and mining equipment, operating capital, and general corporate purposes, with Dominari Securities LLC serving as the exclusive placement agent for this issuance.

Estonian Founder of HashFlare Bitcoin Mining Scam Sentenced to 16 Months in Prison

On August 13, news reported by @DecryptMedia stated that the Estonian founder of the HashFlare Bitcoin mining scam was sentenced to 16 months in prison, with the U.S. Department of Justice considering whether to appeal, as this sentence is far below the 10-year imprisonment sought by prosecutors.

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Bitcoin Miner Bitfarms Reports 87% Year-on-Year Revenue Growth, Plans to Relocate to the U.S.

On August 13, news reported by The Block stated that Bitcoin miner Bitfarms reported an 87% year-on-year revenue growth in the second quarter, reaching $78 million. The company plans to relocate to the U.S., benefiting from President Trump's strong support for cryptocurrencies and artificial intelligence.

Bitfarms currently has 82% of its energy investment portfolio located in North America, including multiple locations in the U.S. and a facility in Quebec, Canada. The company plans to cease its mining operations in Argentina due to future economic uncertainties in the region.

Additionally, Bitfarms has initiated a stock buyback program, having repurchased 4.9 million shares as of August 8, at an average price of $1.24 per share.

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8. Bitcoin News

Summary of Bitcoin Accumulation Dynamics This Week:

1. Harvard University Holds $117 Million in Bitcoin ETF, Surpassing Google's Parent Company

On August 9, news reported that Harvard University held $117 million worth of BlackRock's Bitcoin ETF (IBIT) at the end of the second quarter, ranking fifth globally, surpassing its holdings of $114 million in Alphabet stock. IBIT currently manages approximately $84 billion.

2. El Salvador Accumulates 1 Bitcoin, Total Holdings Reach 6,265.18 Bitcoins

On August 11, news from El Salvador's Ministry of Finance indicated that the country accumulated 1 BTC six hours ago, bringing its total holdings to 6,265.18 BTC, valued at approximately $763 million.

3. French Capital B Accumulates 126 Bitcoins, Total Holdings Reach 2,201 Bitcoins

On August 11, news reported that French listed company Capital B announced it had accumulated 126 BTC, bringing its total holdings to 2,201 BTC.

4. Matador Accumulates 5 Bitcoins, Total Holdings Reach 77.4 Bitcoins

On August 11, news reported that Matador Technologies purchased 5 BTC for approximately $583,000, at an average price of $116,619, bringing its total holdings to 77.4 BTC.

5. Strategy Accumulates 155 Bitcoins, Total Holdings Reach 628,946 Bitcoins

On August 11, news reported that Strategy spent $18 million to purchase 155 BTC between August 4 and 10, at an average price of $116,401, bringing its total holdings to 628,946 BTC, with a year-to-date return of 25%.

6. Empery Digital Accumulates 17.51 Bitcoins, Total Holdings Reach 4,018 Bitcoins

On August 11, news reported that Nasdaq-listed company Empery Digital purchased 17.51 BTC for $2 million, increasing its total holdings to 4,018.36 BTC, with a cumulative purchase cost of approximately $472 million.

7. Bakkt Q2 Revenue Grows 13.3%, Advancing Bitcoin Reserve Strategy

On August 12, news reported that Bakkt announced Q2 revenue of $577.9 million, a year-on-year increase of 13.3%, and raised $75 million to strengthen its balance sheet, advancing its Bitcoin strategy in the Japanese market.

8. Metaplanet Accumulates 518 Bitcoins, Total Holdings Reach 18,113 Bitcoins

On August 12, news reported that Japanese listed company Metaplanet spent $61.4 million to purchase 518 BTC at an average price of $118,519, bringing its total holdings to 18,113 BTC, with an investment return of 468.1% this year.

9. The Smarter Web Company Raises Funds and Accumulates Bitcoin, Total Holdings Reach 2,395 Bitcoins

On August 12, news reported that UK-listed company The Smarter Web Company raised approximately $10.23 million through a new share placement to continue accumulating BTC. Subsequently, it purchased 295 BTC at an average price of $119,412, bringing its total holdings to 2,395 BTC.

10. Norway's Central Bank Investment Management Agency's Bitcoin Exposure Reaches Historical High

On August 12, news reported that Norway's Central Bank Investment Management Agency (NBIM) has indirect Bitcoin exposure that has risen to 7,161 BTC, a historical high.

11. FoldHoldings Total Holdings Reach 1,492 Bitcoins

On August 13, news reported that Nasdaq-listed Bitcoin financial services company FoldHoldings reported Q2 revenue of $8.2 million, a year-on-year increase of 59%, with net income of $13.4 million. The company's Bitcoin holdings are close to 1,500 BTC, valued at approximately $180 million, with plans to continue expanding its holdings.

12. LIXTE Biotechnology Launches Cryptocurrency Reserve Strategy, Plans to Allocate 25% of Funds to BTC

On August 13, news reported that Nasdaq-listed company LIXTE Biotechnology announced it would allocate 25% of its funds to cryptocurrencies, including Bitcoin and other digital assets, as part of its strategic capital allocation plan.

13. Skycorp Solar Launches Digital Asset Reserve, Has Purchased 32.76 ETH

On August 13, news reported that Nasdaq-listed solar company Skycorp Solar launched a strategic digital asset reserve, planning to purchase BTC, ETH, and stablecoins in the future. The first transaction involved purchasing 32.76 ETH, with plans to gradually increase allocations.

14. MicroCloud Hologram Achieves $40.45 Million in Cryptocurrency Investment Returns

On August 13, news reported that Nasdaq-listed company MicroCloud Hologram has achieved $40.45 million in returns from Bitcoin and cryptocurrency derivatives investments, holding $421 million in cash reserves, with plans to invest in blockchain, quantum computing, AI, AR, and other fields.

15. H 100 Group Raises $6.84 Million and Accumulates 45.8 Bitcoins, Total Holdings Reach 809 Bitcoins

On August 13, news reported that Swedish-listed company H 100 Group completed a directed issuance, raising approximately $6.84 million for its Bitcoin treasury strategy, and added 45.8 BTC, bringing its total holdings to 809 BTC. Since the strategy's launch, the company has raised approximately $124 million.

16. Blueport Interactive Announces Cryptocurrency Holdings and Plans to Raise $100 Million to Invest in Crypto Assets

On August 14, news reported that Hong Kong-listed company Blueport Interactive holds 97.08 BTC, 913.63 ETH, and 7,692 SOL, with its affiliated companies holding 96 BTC, 794 ETH, and 6,365 SOL. The company plans to raise $100 million through "LK Crypto" to invest in cryptocurrency assets.

17. Trump Family-Backed Bitcoin Company Reaches 2,130 BTC in Reserves

On August 14, news reported that ABTC, backed by the Trump family, purchased 1,726 BTC between July and early August, with a total value of approximately $205.6 million, at an average price of $119,120 per BTC, raising its reserves to 2,130 BTC. This acquisition was based on $220 million in financing, and the company is advancing a merger with Gryphon Digital Mining for a public listing.

18. Norway's Sovereign Wealth Fund's Bitcoin Exposure Doubles to 7,161 BTC

On August 14, news reported that Norway's sovereign wealth fund increased its indirect Bitcoin holdings by 192% last year, currently holding 7,161 BTC, with holdings sourced from Strategy, Metaplanet, and Coinbase. This move reflects the trend of sovereign wealth funds investing in Bitcoin indirectly.

19. Sequans Plans to Purchase 100,000 Bitcoins by the End of 2030

On August 14, news reported that Nasdaq-listed company Sequans plans to cumulatively purchase 100,000 BTC by the end of 2030. Previously, the company received $384 million in strategic investment to launch its Bitcoin treasury plan, currently holding approximately 3,171 BTC. On August 11, Sequans purchased 13 BTC at an average price of $117,012, with a total cost of approximately $1.5 million, raising its holdings to 3,171 BTC, with a cumulative purchase cost of approximately $370 million.

20. VCI Global Plans to Raise $51 Million to Establish a Bitcoin Treasury

On August 14, news reported that Nasdaq-listed company VCI Global will raise $51 million through convertible note placements, with $20 million allocated for purchasing BTC to enhance capital diversification and long-term capital resilience.

21. DDC Enterprise Accumulates 120 Bitcoins, Total Holdings Reach 488 Bitcoins

On August 14, news reported that NYSE-listed company DDC Enterprise accumulated 120 BTC at an average price of $98,737, bringing its total holdings to 488 BTC.

22. Jeffs' Brands Launches $75 Million Cryptocurrency Fund Management Plan

On August 14, news reported that Nasdaq-listed e-commerce company Jeffs' Brands launched an AI-driven cryptocurrency fund management strategy, planning to invest up to $75 million across five major cryptocurrencies, including BTC. The plan will be managed by Quantum Crypto, providing trading, staking, and infrastructure management services.

PlanB: If the S&P 500 Index Reaches 7,000, Bitcoin's Corresponding Price Will Be $300,000

On August 11, news reported that analyst PlanB stated on the X platform that if the S&P 500 index reaches 7,000 points, Bitcoin's corresponding price will be $300,000.

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Data: Strategy's Current Investment Portfolio Has Exceeded $30 Billion in Unrealized Profits

On August 11, news reported by @BitcoinMagazine revealed that Michael Saylor's "Strategy" has generated over $30 billion in unrealized profits from its Bitcoin investments.

Blue Origin Announces It Will Accept Bitcoin, Ethereum, and Other Cryptocurrencies for Space Travel Services

On August 11, news reported by CoinDesk stated that Blue Origin, the space company founded by Amazon's Jeff Bezos, announced it would accept Bitcoin, Ethereum, SOL, USDT, and USDC as payment for its New Shepard spacecraft space travel services.

Previously, Sun Yuchen flew to space and returned to Earth aboard a Blue Origin spacecraft, taking 10 minutes and 14 seconds.

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Nakamoto CEO: Will Purchase $1 Billion in BTC Tomorrow

On August 11, news reported that Nakamoto CEO David Bailey stated on the X platform that he would purchase $1 billion in BTC tomorrow, writing, "Since I got into Bitcoin, I've always dreamed of buying $1 billion worth of Bitcoin in one go, and tomorrow that dream will come true."

Cathie Wood: ARK Maintains Prediction of Bitcoin Price Exceeding $1 Million in Five Years

On August 12, news reported by CoinDesk stated that ARK Invest CEO Cathie Wood expressed that ARK's bullish expectations for Bitcoin remain far above $1 million in the next five years. Wood stated that Bitcoin has become the main entry point for institutions into the digital asset space and is gradually replacing gold as a store of value. She emphasized that ARK has not changed its views on this.

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Trump's Cryptocurrency Investments Have Generated $2.4 Billion in Returns

On August 13, news reported by Cointelegraph stated that since 2022, President Trump's cryptocurrency investments have generated $2.4 billion in returns.

The report indicated that this income accounts for 43.5% of his accumulated personal wealth during his political career, including profits from NFTs, World Liberty Financial, and Bitcoin mining investments.

Wang Feng: Bitcoin, Ethereum, and Other Confidential Assets Will Become Anchor Products for Fund and Institutional Fundraising

On August 13, news reported that Wang Feng, founder of Blueport Interactive, stated that cryptocurrencies are having a significant impact on the financial industry, including banks, asset management companies, and VCs. This is not just about individual investors holding assets like Ethereum, but rather that a structural consensus has formed in the financial market. Bitcoin, Ethereum, Solana, and possibly XRP will become anchor products for many funds and institutions in fundraising. Traditional funds and investment managers (GPs) are now changing their views and actively participating, which is not too late.

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Total Market Cap of Cryptocurrencies Rises to $4.263 Trillion, Setting New Historical Highs

On August 14, news reported that according to CoinGecko data, as Bitcoin set a new historical high of $123,667, the total market cap of cryptocurrencies rose to $4.263 trillion, setting new historical highs.

Data: Bitcoin's Market Cap Surpasses Google, Rising to Fifth Place Among Global Asset Values

On August 14, news reported that according to 8 marketcap data, Bitcoin's market cap surpassed Alphabet (Google), reaching $2.456 trillion, ranking fifth among global mainstream assets. Previously, on August 11, Bitcoin's market cap surpassed Amazon, reaching $2.45 trillion, moving up to sixth place in global asset market cap rankings.

Analyst: If BTC Effectively Breaks $125,000, It May Drive Its Rise to $150,000

On August 14, news reported by Jinshi stated that Bitcoin set a new historical high of $124,002.49 on Thursday, surpassing the previous peak set in July. Analyst Tony Sycamore stated that the momentum for the rise comes from increased expectations for Federal Reserve rate cuts, continued institutional buying, and the Trump administration's easing of restrictions on cryptocurrency investments. He pointed out that if Bitcoin effectively breaks through $125,000, it may drive its rise to $150,000.