q1

ChainCatcher сообщает, что по данным BBX, вчера был завершен индекс крупнейших IPO в мире, и логика оценки трансформации горнодобывающих компаний в AI достигла исторической точки поворота. Основные динамики следующие:SpaceX, Inc. (NASDAQ: $SPCX) согласно отчету от 7 июля, компания на этой неделе официально была включена в индекс Nasdaq 100, став первым случаем в истории, когда крупнейшее единовременное IPO ($750 миллиардов) было включено в Nasdaq 100. CoinDesk также выпустил историческое предупреждение: "В предыдущие два раза, когда крупнейшие новые компоненты были добавлены ------ Palantir ($PLTR) в декабре 2024 года, Strategy ($MSTR) в начале 2025 года ------ после включения наблюдалось временное снижение, а не начало нового ралли"; аналитики отмечают, что фонды пассивного управления Nasdaq 100 завершили "обязательную покупку" во время включения, и если после этого не будет новых фундаментальных катализаторов, цена акций часто корректируется после исчезновения технического покупательского давления. Конкретные риски, с которыми сталкивается SpaceX, также включают: чистый убыток в Q1 2026 около $4.27 миллиарда (основная причина - расходы на интеграцию xAI), план выпуска облигаций на $2 миллиарда и 3.4% размывание доли акций из-за приобретения Cursor/Anysphere за $60 миллиардов; Morningstar сохраняет оценку справедливой стоимости в $62 за акцию, что предполагает около 70% потенциального снижения по сравнению с текущей рыночной ценой. Для рынка, который владеет биткойнами SpaceX (18,712 монет, примерно $1.2 миллиарда, хранящихся в Coinbase Prime), включение в Nasdaq 100 вызовет более крупные позиции SPCX в пассивных фондах, что еще больше сблизит традиционных индексных инвесторов с косвенной экспозицией к биткойн-активам.TeraWulf Inc. (NASDAQ: $WULF) согласно последнему анализу, доходы от аренды высокопроизводительных вычислений (HPC) компании в Q1 2026 составили $21 миллионов, что составляет около 62% от общего дохода в $34 миллиона, впервые превысив доходы от майнинга биткойнов ------ это первое историческое изменение структуры доходов TeraWulf после трансформации в компанию AI/HPC инфраструктуры, что на 117% больше, чем доходы от HPC в $9.7 миллиона в Q4 2025. В настоящее время компания подписала контракты на аренду AI/HPC общей мощностью более 522 мегаватт с Core42 и Fluidstack, ожидая годовой доход с высокой маржой около $630 миллионов; энергетическая структура включает ядерную и гидроэлектрическую энергию, средняя цена электроэнергии составляет около $0.035 за киловатт-час, что является одним из самых низких среди аналогичных горнодобывающих компаний. Компания также разрабатывает новый парк в штате Кентукки, добавляя около 480 мегаватт мощности подключения к электросети; целевые диапазоны цен аналитиков значительно повышены, Keefe Bruyette & Woods повысили с $23 до $37, Clear Street с $26 до $38, Jefferies начал покрытие с рейтингом Buy и целевой ценой $37, BTIG также повысил. С начала 2026 года акции компании выросли примерно на 88%, что является лидирующим показателем в секторе горнодобывающих компаний.

Сообщение ChainCatcher, тестовая сеть TRON Nile недавно запустила обновление для защиты от квантовых атак и выпустила обязательную версию GreatVoyage-v4.8.2-PQ1-build1. Эта версия впервые вводит возможность постквантовой подписи, поддерживая два алгоритма подписи: Falcon-512 и ML-DSA-44, что further продвигает технические исследования и проверку возможностей TRON в направлении квантовой безопасности.По официальной информации, указанные возможности могут быть применены в таких сценариях, как подпись транзакций, подпись блоков SR, рукопожатие P2P релейных узлов и проверка контрактов TVM. TRON напоминает, что разработчики, уже развернувшие узлы тестовой сети Nile, должны как можно скорее завершить обновление версии. В то же время, соответствующие новые функции должны быть одобрены голосованием по предложениям, прежде чем они вступят в силу в тестовой сети Nile; активация функций тестовой сети также не означает, что основная сеть будет запущена одновременно.

Сообщение ChainCatcher, данные CryptoQuant показывают, что в Q1 2026 года общий объем кредитного рынка CeFi снизился на 6% по сравнению с предыдущим кварталом до 23,3 миллиарда долларов, что стало первым случаем сокращения во всей отрасли с Q3 2024 года. Снижение объема кредитования связано с тем, что крипто-пользователи снизили кредитное плечо в медвежьем рынке.Tether по-прежнему является крупнейшим кредитором с объемом кредитования 15,8 миллиарда долларов и долей рынка 68%, за ним следуют Maple Finance (2,1 миллиарда долларов, 9%) и Nexo (1,8 миллиарда долларов, 8%). Доля рынка перемещается к Maple, Nexo и Coinbase, которые в этом квартале увеличились на 1,0, 0,5 и 0,7 процентных пункта соответственно. Объем кредитования Coinbase и Maple увеличился примерно на 6% по сравнению с предыдущим кварталом, Nexo зафиксировал рост почти на 1%, став единственными тремя основными кредиторами, которые показали рост. У остальных учреждений объем кредитования сократился, Galaxy Digital (-21%) и Ledn (-19%) показали наибольшее снижение, объем кредитования Tether снизился на 7%.

Сообщение ChainCatcher, Элон Маск ответил на вопрос сообщества о том, когда Китай достигнет уровня AI Fable, сказав: "Возможно, в первом квартале."Ранее пользователь X Teortaxes заявил, что GLM 5.2 в настоящее время показывает разрыв примерно в 7 месяцев с передовыми моделями, в целом находясь на уровне Opus 4.7-4.8; Mythos достигнет состояния Preview в начале февраля 2026 года, полный PRC Mythos ("Fable") может быть выпущен в ноябре-декабре 2026 года.

Coinbase released the Solana Validator Performance Report for the first quarter of 2026, disclosing its staking scale, infrastructure upgrades, and network optimization progress. It revealed that Coinbase has staked approximately 40.48 million SOL on the Solana network, accounting for 9.52% of the total network staking, with validator nodes distributed across 6 countries/regions.The report also noted that Coinbase has implemented a near-zero downtime (ZDD) upgrade mechanism, ensuring that the validator update process does not affect network security and stability through hot swapping and dual-signature protection. It supports multi-client systems such as Harmonic, Jito, JitoBAM, Firedancer, and Rakurai to enhance the diversity and resilience of the Solana validator ecosystem while avoiding the centralization risks of a single scheduling strategy.

According to BBX data, corporate Bitcoin reserves are under pressure, intertwined with the continuous outflow of ETF funds, leading to an overall cautious sentiment in crypto concept stocks. The core dynamics are as follows:Trump Media & Technology Group, Corp. (NASDAQ: $DJT) transferred 2,650 BTC (approximately $205 million) to a Crypto.com exchange address on May 22. The company's official statement described this as a "transfer rather than a sale," part of an expanded trading strategy, but the actual disposal method remains to be confirmed as of the report deadline. On-chain data shows that the funds have arrived at the Crypto.com exchange address. Previously, the company transferred 2,000 BTC (approximately $175 million) to Crypto.com about four months ago. The Q1 2026 financial report (May 9, CoinDesk) indicates that as of March 31, the company held 9,542.16 BTC (with a fair value of $647.1 million, and a purchase cost of approximately $1.13 billion); after this transfer of 2,650 BTC, Arkham's on-chain estimate of the remaining holdings is about 6,889 BTC (approximately $532 million). The Q1 financial report also disclosed a net loss of $405.9 million (compared to a loss of $31.7 million in the same period last year) and revenue of only $871,200. The company originally purchased 11,542 BTC at an average price of about $118,522, with a total purchase cost of approximately $1.37 billion, and the current holdings are still significantly discounted compared to the cost; during the same period, the company withdrew its ETF applications for Bitcoin, Ethereum, and Solana from Truth Social.The U.S. Bitcoin spot ETF recorded over $2.26 billion in net outflows in the two weeks ending May 23, ending a streak of seven consecutive weeks of net inflows. During this period, Bitcoin fell from about $82,500 (the recent high on May 6) to $74,305 (on May 23), a decline of about 10%, marking the lowest point since April 20. The iShares Bitcoin Trust (NASDAQ: $IBIT) under BlackRock, Inc. (NYSE: $BLK) has seen its holdings decrease from a peak of about 812,000 BTC to about 800,000 BTC, still accounting for approximately 62% of total assets in U.S. Bitcoin spot ETFs. CoinDesk analysts attribute this round of outflows to high U.S. Treasury yields (with the 10-year yield touching 5.01%) and systemic deleveraging driven by geopolitical pressures, rather than a weakening belief in Bitcoin's long-term logic.

NVIDIA (NVDA.O) released its financial report after the U.S. stock market closed on Wednesday. For Q1 ending April 26, 2026, revenue was $81.6 billion, a 20% increase from the previous quarter and an 85% increase year-over-year, with market expectations at $78.672 billion. Revenue from the data center business was $75.2 billion, with market expectations at $72.8 billion. NVIDIA also announced an $80 billion stock buyback plan and will increase its quarterly cash dividend from $0.01 per share to $0.25 per share.In addition, NVIDIA's data center spending (the main source of the company's revenue) has not shown any signs of slowing down. NVIDIA expects second-quarter revenue to be $91 billion (plus or minus 2%), while the market median expectation is $86.788 billion, although the forecast value once reached as high as $96 billion.

Strategy CEO Phong Le stated that in the first quarter of 2026, 13 of the top 15 institutional shareholders of Strategy increased their holdings in $MSTR, with a total increase in holdings of 27%.

The financial report for the first quarter of 2026 released by the Zcash Foundation shows that as of March 31, the foundation's total current assets were approximately $36.7 million, with net current assets around $36.68 million. This includes about $12.11 million in cash (USD), 506,556 USDC, 85,412 ZEC (approximately $21.2 million), 41.8 BTC (approximately $2.85 million), and 12.02 ETH (approximately $25,000).In addition, the foundation's average monthly operating expenses for the first quarter were approximately $272,500, with the Protocol / Zebra project accounting for the highest proportion at 50.4%. Zcash Foundation Executive Director Alex Bornstein stated that the focus for Q2 will continue to advance the NU7 upgrade, Z3 technology stack development, and Zebra performance optimization.

Famous investor Duan Yongping's investment account H&H International Investment, managed in the United States, submitted SEC Form 13F for the first quarter of 2026, showing that as of March 31, 2026, it held a total of 19 securities, with a total portfolio value of approximately $20.004 billion, all holdings made with independent decision-making authority.Among them, Apple (AAPL) holds 28,945,607 shares, with a market value of $7.346 billion; Berkshire Hathaway (BRK.B) holds 9,147,796 shares, with a market value of $4.384 billion; NVIDIA (NVDA) holds 13,843,775 shares, with a market value of $2.414 billion; Pinduoduo (PDD) holds 19,748,294 shares, with a market value of $2.018 billion; Tesla (TSLA) holds 3,408,900 shares, with a market value of $1.267 billion. Microsoft (MSFT) holds 1,016,000 shares, with a market value of $376 million. Circle disclosed its position for the first time this quarter, holding 200,000 shares, with a market value of $19.082 million, accounting for approximately 0.1% of the portfolio.

Canaan Inc. announced its financial report for the first quarter of 2026. The report shows that the company's total revenue was $62.7 million, in line with the previous guidance range; net loss was $88.7 million. As of March 31, 2026, the company's cryptocurrency reserves reached 1,807.60 bitcoins and 3,951.53 ethers, setting a new historical high.In terms of operations, the total hash power of the company's ten joint mining projects reached approximately 11 EH/s, a quarter-over-quarter increase of 10.7%; the first quarter output was 257 bitcoins. In terms of strategic layout, the company acquired a 49% stake in the ABC project in West Texas from Cipher Mining, with the project's operational hash power reaching approximately 4.4 EH/s; at the same time, it deployed a "hash power to thermal energy" project in Northern Europe, with a planned total capacity of about 8 megawatts.Canaan Inc. expects total revenue for the second quarter of 2026 to be in the range of $35 million to $45 million.

According to BBX data, yesterday's corporate Bitcoin reserve expansion and the divergence in Wall Street institutional crypto allocations both landed simultaneously, with the core dynamics as follows:Strategy, Inc. (NASDAQ: $MSTR) submitted SEC Form 8-K, disclosing that the company purchased an additional 24,869 BTC between May 11 and May 17, with a total expenditure of approximately $2.01 billion, at an average price of about $80,985, marking the second-largest weekly purchase scale in 2026; the funds for this purchase came from the sale of 19.5 million shares of STRC preferred stock (net proceeds of about $1.949 billion) and 430,000 shares of MSTR common stock (net proceeds of about $83.7 million); as of May 17, the company's total holdings rose to 843,738 BTC, with a total acquisition cost of about $63.87 billion (average price $75,700), yielding 12.6% BTC since the beginning of 2026.Goldman Sachs Group, Inc. (NYSE: $GS) submitted Q1 2026 Form 13F to the SEC, disclosing that the company completely liquidated all XRP ETF holdings during Q1 2026 (previously held about $153.8 million, distributed among four issuers: Bitwise, Franklin Templeton, Grayscale, and 21Shares) and all Solana ETF holdings (previously about $108 million); simultaneously, it reduced its Ethereum ETF holdings by about 70% to approximately $114 million; retained Bitcoin ETF holdings of about $700 million (of which iShares Bitcoin Trust $IBIT is about $690 million and Fidelity FBTC is about $25 million), a slight reduction of about 10% from the previous quarter; meanwhile, the 13F showed that Goldman increased its holdings in Circle Internet Group, Inc. (NYSE: $CRCL), Galaxy Digital Inc. (NASDAQ: $GLXY), and Coinbase Global, Inc. (NASDAQ: $COIN) during Q1, signaling a shift from "altcoin ETFs to crypto infrastructure stocks."

According to The Block, digital infrastructure company Soluna Holdings announced its first-quarter financial report, with revenue increasing by 58% year-on-year to $9.4 million, marking the fourth consecutive quarter of sequential growth. The data center hosting business generated $6.7 million, while cryptocurrency mining contributed approximately $2.2 million, down from nearly $3 million in the same period last year.Net loss widened from $10.5 million in the same period last year to $17.9 million, primarily due to increased equity incentives, interest, and financing costs. Adjusted EBITDA loss slightly narrowed to $2.1 million. At the end of the quarter, it held $68.6 million in cash. Soluna is participating in the wave of Bitcoin miners seeking new sources of revenue, shifting capital towards AI and high-performance computing infrastructure.

According to CoinDesk, Kraken's parent company Payward announced its Q1 2026 performance, showing adjusted revenue of $507 million, a year-on-year increase of 3%, achieving growth despite the overall downturn in the cryptocurrency market.The report indicated that Payward's futures business performed strongly during the period, with daily average revenue trades (DARTs) increasing by 51% year-on-year, mainly benefiting from the expansion of NinjaTrader, Breakout, and derivatives business.However, the company's adjusted EBITDA fell to $18 million. Payward stated that it continues to invest in mergers and acquisitions, product development, and regulatory infrastructure construction, rather than prioritizing short-term profits.Additionally, the company disclosed that Kraken's spot market share has increased from about 3.5% in mid-2025 to 5.2% in March 2026; the number of funded accounts on the platform grew by 47% year-on-year to 6.1 million, and the platform's asset scale rose to $40 billion.

Goldman Sachs significantly reduced its exposure to crypto ETFs in the first quarter of 2026 and has completely exited its positions in XRP and Solana-related ETFs. Documents show that Goldman Sachs held approximately $154 million in XRP-related ETFs in the fourth quarter of 2025, including products from Bitwise, Franklin Templeton, Grayscale, and 21Shares, making it one of the largest institutional holders of XRP ETFs at that time. Additionally, it previously held Grayscale Solana Trust ETF, Bitwise Solana Staking ETF, and Fidelity Solana Fund, among other Solana-related ETFs, and has now exited all of these positions.However, Goldman Sachs still retains a significant position in BTC and ETH ETFs. Specifically, it holds approximately $690 million in BlackRock IBIT and about $25 million in Fidelity FBTC, although both positions have decreased by about 10% compared to the previous quarter. Meanwhile, its position in BlackRock ETHA has shrunk by about 70%, leaving approximately 7.2 million shares valued at around $114 million. Furthermore, Goldman Sachs has increased its holdings in crypto-related stocks such as Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal, while reducing its positions in mining and infrastructure companies like Strategy, Bit Digital, Riot Platforms, and IREN.

Bernstein analysts stated last week that Figure Technology Solutions' first-quarter financial report shows the company is rapidly becoming a unique presence in the blockchain market platform. The performance released by Figure on May 11 significantly exceeded Wall Street expectations in both revenue and EBITDA, with its core business transforming real-world credit assets into blockchain-native tools that can be traded and financed on-chain.Analysts believe Figure is building a blockchain-native capital market ecosystem, fundamentally differentiating itself from traditional balance sheet-based fintech lending platforms, and expect its stock FIGR to become a real-time reflection of blockchain loan volumes. Bernstein pointed out in a research report on May 15 that on-chain real-time data indicates Figure is about to welcome a record-breaking second quarter.Co-founder Mike Cagney introduced that the company's Forge platform can convert entire loans into small single-dollar liquidity participation units, addressing the liquidity challenges of RWA in DeFi. Bernstein previously estimated that the potential market size for annual credit issuance that could migrate on-chain could reach $4 trillion, while the current tokenized credit market is approximately $5.14 billion.