Did you know that ~80% of Bitcoin's hashrate is merge mining Fractal Bitcoin? Learn more about the Bitcoin scaling solution that processes ~11M daily transactions in our latest report. Click the banner to download. (This content is sponsored by Fractal Bitcoin)

Is Saylor coming for the money markets? @MicroStrategy announced plans to offer 5 million shares of its new Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) in an initial public offering on Monday. $STRC has a $100 stated amount per share and will accrue cumulative dividends at a variable annual rate, initially set at 9.00%. MicroStrategy aims to keep STRC's trading value around the $100 stated amount. In the investor presentation, @saylor stated that STRC targets “short-duration, lower-volatility investors,” citing money market funds and short-term T-bills as examples.

"Some of the Treasury companies are making pure play miners look really, really cheap." @matthew_sigel joins @theminingpod: ⚡️ CoreWeave / Core Scientific post-deal breakdown ⚡️ Are BTC mining prices suppressed? ⚡️ BTC Treasury playbook (and dangers) ⚡️ Bit Digital's ETH pivot

KindlyMD approves Nakamoto merger, secures over $760 Million in PIPE and debt financing In an expedited move to become a Bitcoin treasury company, @KindlyMD has filed a DEF 14C (Definitive Information Statement) to complete its merger with Nakamoto Holdings. According to the filing, the agreement passed after 50.76% of voting shares approved the transaction on May 18 and 50.14% approved related financings on June 19. @nakamoto $NAKA @DavidFBailey

How the Big Beautiful Bill will impact bitcoin miners So far, President Trump’s second term has been a mixed bag for the Bitcoin coalition. His administration has mopped up regulatory abuses via shadow initiatives like Operation Chokepoint 2.0, a demonstrable win, but this is partially offset by Trump’s aggressive tariff regime, which has been a headache specifically for bitcoin miners. Net-net, the bill is a more of a win for miners than not, particularly smaller scale ones in the bootstrapping phase. We dig into the details below 👇

JonesResearch initiates Bitfarms with Buy, sees 74% upside JonesResearch has initiated coverage of Bitcoin miner-turned-energy compute firm Bitfarms (BITF) with a Buy rating and a $2.00 price target, based on a 15x EV/EBITDA multiple on a blended average of its 2025 and 2026 annual EBITDA estimates. @Bitfarms_io $BITF

Digital asset inflows set all-time record with $4.39 billion: Coinshares The 14th consecutive week of net positive flows, total assets under management broke to a record $220 billion globally, per @CoinSharesCo.

NEW @gwartygwart pod: "Cosmos Hub was launched, atom did nothing. It still does nothing. It generated no revenue. It still generates no revenue" @cwgoes • Cosmos Hub • Mining Bitcoin at $1 • Anoma protocol • Signal adoption & privacy growth

NEW GWART POD: Squaring Ethereum’s “World Computer” Vision W/ @cwgoes

"It's a free market for blockspace. Whatever it clears at, that's the correct price." @theminingpod • Bitcoin reaches $123K all-time high • Hash price at $60 @luxor • Exec compensation $14.4M in 2024 • WhiteFiber IPO shows $47.6M 2024 HPC revenue