1. Bitcoin Market

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

This week, Bitcoin's price overall followed the rhythm of “steady rise—brief pullback—new surge—technical correction,” remaining within a high-level oscillation range. The price structure is clear, with capital flows and news events intertwined, driving both short-term volatility 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, forming a stable upward channel on the candlestick chart. The dominance of bulls was evident, buying pressure was steadily released, and trading volume moderately expanded, indicating simultaneous entry by institutional and long-term funds, with market sentiment trending positive.

Pullback Phase (August 11 – August 12)

After reaching $122,292 on August 11, bearish forces strengthened, triggering profit-taking, and the price fell to $118,248. The $118,000 support level effectively prevented further decline. Trading volume did not increase significantly during the downturn, indicating that selling pressure mainly came from short-term funds, while long-term funds chose to observe without large-scale withdrawal.

New Surge Phase (August 12 – August 14)

On August 13, Bitcoin climbed again from $119,042 to $122,048; on August 14, it further surged to $124,210, setting a new historical high, with an intraday increase reaching 3.4%. Notably, during this surge, the bull-bear battle intensified, and short-term rapid rise and fall patterns appeared, indicating significantly increased participation of short-term funds. Leverage usage in the derivatives market rose, accelerating price gains but also planting the risk of a short-term correction.

Technical Correction Phase (August 14 – August 15)

On August 14, after hitting a historical high, Bitcoin failed to stabilize and entered a rapid adjustment, dropping to a low of $117,477 on the 15th. At the time of writing, the price hovered around $118,310. This round of correction was driven by multiple bearish factors: U.S. PPI significantly exceeded expectations, dampening rate cut expectations; the technical chart formed a “double top” accompanied by leveraged liquidation, with over $1 billion forcibly liquidated across the market; the U.S. Treasury announced it would no longer increase Bitcoin holdings, cooling policy-driven buying expectations—together triggering high-level selling pressure.

Outlook

In the short term, although the technical correction interrupted the upward rhythm, prices remain at historically high levels. If the $117,500–$118,000 support zone holds, the market is expected to resume upward movement after digesting macro and technical pressures. Attention should be paid to the deleveraging progress in the derivatives market and the latest speeches by Federal Reserve officials.

In the long term, the bull market structure remains solid. Medium- and long-term rate cut expectations from the Federal Reserve have not changed, institutional fund inflows continue, and the Trump administration’s relaxation of crypto investment restrictions also provides long-term positive factors. If the macro liquidity environment continues to improve, Bitcoin is likely to maintain a bullish pattern in the second half of 2025.

2.Market Dynamics and Macro Background

Capital Flows

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

In early August, both Bitcoin and Ethereum attracted substantial institutional inflows, continuing the net capital inflow trend observed since Q2.

• 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 ETF and corporate reserve holdings accounted for 7.98% of the total supply, significantly higher than 3% at the beginning of April. Among them, ETFs held over 6.15 million ETH (over 5% of the supply), with representative corporate holdings including:

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

Since early April, ETH price has risen from $1,800 to approximately $4,300, and fund size has doubled 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 both high potential returns and diversified application scenarios. This is especially true in the context of rising DeFi, Layer 2, and Ethereum ETF trading volumes, which has significantly heated up capital allocation interest.

2.Capital Flows in Digital Asset Investment Products

According to the latest CoinShares data, digital asset investment products recorded a net inflow of $572 million last week.

Early week: Weak U.S. employment data caused an outflow of $1 billion.
Later week: Approval by the U.S. government to allocate digital assets in 401(k) retirement plans triggered a strong inflow of $1.57 billion.

Ethereum ETPs performed exceptionally, attracting $268 million in a single week—the highest weekly inflow this year—bringing the year-to-date total inflows into digital assets to $8.2 billion. Assets under management (AUM) also hit a record high of $32.6 billion.

Digital Asset Capital Flow Data

3.Market Structure Changes: BTC Dominance Declines, Funds Shift to Altcoins

On August 11, Bitcoin’s market dominance (BTC.D) fell 3.22% over the past week to 60.5%, briefly dipping below 60% on August 13—the lowest since February this year.

During the same period, total crypto market capitalization increased 9.51%:
Excluding BTC (TOTAL2) rose 15.44%
Excluding BTC and ETH (TOTAL3) rose 11.11%

Capital clearly shifted toward altcoins, with Ethereum surpassing $4,700, becoming a primary driver of market gains.

4.On-Chain Supply and Demand Changes: Buying Exceeds Miner Output, Miners Sell Recently

On-chain data shows retail and institutional buying has exceeded miner output:

Demand side: Bitcoin purchases by small and medium wallets have surpassed current miner production; large wallets, such as institutions and corporates, have accumulated far more than miner output over the past two years, demonstrating sustained and strong buying demand, which increases on-chain BTC scarcity.

Supply side: According to CryptoQuant, miners sold over 2,000 BTC cumulatively from August 10 to 13, indicating profit-taking behavior at high price levels.

5.Divergence Between Long-Term and Short-Term Holders

Long-term holders: During July, average daily realized profits remained above $1 billion but slowed in August. This round of profit-taking mainly came from investors holding BTC for 3–5 years from the previous cycle, rather than new ETF buyers from early 2024.

Short-term holders: Since June 21, net holdings increased by 220,000 BTC (+9.9%), but the growth rate has halved compared to the Q1 peak (+540,000 BTC, +25%), indicating reduced activity among short-term buyers.

Bitcoin Long-Term vs. Short-Term Holder Data

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) stands at 42.354, within the neutral-to-weak range (30–50). With the RSI close to 40, it indicates that recent market selling pressure is slightly stronger, but it has not yet entered the oversold zone (RSI<30), suggesting limited downside momentum. If the RSI continues to rise above 50, it may indicate strengthened short-term buying activity, and the price is likely to stabilize and rebound. Conversely, if it falls below 40, short-term corrective pressure may increase.

2. Moving Average (MA) Analysis

• MA5 (5-day moving average): $120,039
• MA20 (20-day moving average): $118,103
• MA50 (50-day moving average): $113,752
• MA100 (100-day moving average): $105,370
• Current Price: $118,821

MA5, MA20, MA50, MA100 Data Chart

From the moving average arrangement, short-term MAs (MA5, MA20) are showing an upward turning trend, but MA5 is slightly above the current price, indicating that the short-term price may face resistance at this level. The mid-term MA (MA50) remains below the current price, providing support and showing that the overall mid-term trend is still bullish. The long-term MA (MA100) is far below the current price, indicating that the long-term trend remains strong, with a solid bullish foundation. The mixed arrangement of the MAs suggests the possibility of short-term consolidation. If MA5 crosses above MA20 to form a golden cross, short-term upward momentum is likely to strengthen.

3. Key Support and Resistance Levels

Support Levels: Short-term key supports are at $118,000 and $117,500. If these support zones hold, the short-term market may gradually recover, allowing the price to accumulate energy in this area, with potential for gradual upward movement afterward.

Resistance Levels: Short-term primary resistances are at $120,000 and $122,000. If the price breaks through $120,000, it may trigger accelerated short-term gains, with bullish sentiment significantly strengthened. Conversely, if resistance holds and the price pulls back, it may continue to consolidate within the $118,000–$120,000 range.

Comprehensive Analysis

Bitcoin is currently in a mid-to-short-term consolidation phase, with a relatively balanced market between bulls and bears. Technical indicators show that the market is slightly weak, but not yet in oversold territory, implying limited downside risk in the short term. Meanwhile, the MA arrangement indicates that the mid-to-long-term trend is still bullish, suggesting potential price consolidation near support levels to accumulate energy for a future rally. Regarding key resistance, if the price breaks above $120,000, a short-term rebound may occur, boosting bullish sentiment. Conversely, if it meets resistance and pulls back, the price may continue to oscillate within the range, and short-term support levels need to be monitored to gauge market direction.

Market Sentiment Analysis

As of August 15, the Fear & Greed Index temporarily reported 59, placing it in the “Neutral to Greedy” range, indicating that overall market sentiment leans toward optimism, but there are no signs of excessive greed. Investor sentiment remains cautiously optimistic, with short-term market risk appetite gradually recovering.

Reviewing this week (August 9–August 14), the daily Fear & Greed Index values were: 58 (Neutral to Greedy), 59 (Neutral to Greedy), 62 (Greedy), 60 (Neutral to Greedy), 63 (Greedy), and 68 (Greedy). The index remained within the 58–68 range, showing a gradual upward trend, indicating that market sentiment has shifted from neutral toward optimistic and slightly greedy.

Structurally, the index rose gradually this week, with a brief dip on August 12 mainly due to Bitcoin price pullbacks, showing that investors maintained a cautious and observant stance during price declines. From August 13 to 14, Bitcoin price recovery drove market sentiment higher, further increasing investor risk appetite. However, from August 14 to 15, a technical price pullback caused a slight decline in the sentiment index.

Overall, the Fear & Greed Index indicates that market sentiment has recently been fluctuating, with investors generally leaning toward optimism but not showing extreme greed. This suggests that short-term market volatility remains possible, and investors should continue to monitor key price support levels and potential pullback risks.

Fear & Greed Index Data Chart

Macroeconomic Background

1. U.S. Inflation Data and Fed Rate Cut Expectations

Consumer Price Index (CPI):According to the U.S. Bureau of Labor Statistics (BLS), the U.S. urban consumer CPI rose 2.7% year-on-year in July 2025, unchanged from the previous month and slightly below market expectations of 2.8%; month-on-month growth was 0.2%, indicating some relief in inflationary pressure. Following the CPI release, the market broadly expects that the Federal Reserve may cut interest rates at the upcoming September meeting. U.S. Treasury Secretary Scott Bessent noted that, considering the recent slowdown in employment growth and moderate inflation, he recommends the Fed reduce rates by 50 basis points at the next meeting, or possibly even more. This expectation has increased the attractiveness of risk assets, including Bitcoin.

Producer Price Index (PPI):In July, the U.S. PPI rose 0.9% month-on-month and 3.3% year-on-year, both significantly above market expectations. The higher-than-expected PPI sparked concerns that inflation remains elevated, reducing the likelihood of a near-term Fed rate cut. CoinDesk reported that “Bitcoin and Ethereum fell sharply,” while Cointelegraph noted that “the probability of a September rate cut fell from nearly 100% to about 90.5%,” putting pressure on risk assets.

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2. Bitcoin Hits All-Time Highs, Market Sentiment Optimistic

During this period, Bitcoin’s price increased nearly 32%, continuously hitting new all-time highs and surpassing $124,000.

Driving factors include favorable policies and significant institutional capital inflows: BlackRock CEO Larry Fink publicly expressed support, and the Bullish crypto exchange IPO attracted substantial funds, further stimulating market sentiment.

Bitcoin’s strong rally reflects investors’ high optimism regarding policy direction and institutional participation, creating an extremely positive market atmosphere.

3. Latest Statement from U.S. Treasury Secretary 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 previously confiscated assets. This statement caused a brief pullback in Bitcoin’s price, mainly due to market concerns over potentially reduced demand.

However, from a medium- to long-term perspective, the market generally believes that policy stability helps reduce uncertainty and attracts institutional investors. Although short-term volatility exists, overall market sentiment remains optimistic, and Bitcoin’s price continues its upward trend.

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4. Global Economic and Market Environment

UK Economy:In Q2 2025, the UK economy grew 0.3%, exceeding expectations, but exports to the U.S. fell by 13.5%, reflecting uncertainty in the global trade environment.

U.S. Stock Market:Despite a rebound in inflation data, major U.S. stock indices remain strong, indicating market optimism about the economic outlook.

3. Hashrate Changes

This week, the Bitcoin network has exhibited a “decline–fluctuation–rapid rise” trend in hashrate. On August 9, the hashrate fell to the week’s low of 658.70 EH/s, indicating a slight short-term adjustment in miner computing power. From August 10 to 13, the hashrate fluctuated between 800 EH/s and 1 ZH/s, with a brief surge above 1 ZH/s on August 13, reaching 1.0918 ZH/s, signaling that miner computing power was actively recovering. On August 14, the hashrate rose strongly to 1.2275 ZH/s, setting a new all-time high, reflecting miners’ active participation and further enhancing network security. Overall, Bitcoin network computing power this week shows a trend of restorative growth, with significantly increased volatility, reflecting a rise in miner enthusiasm and market activity.

Weekly Bitcoin Network Hashrate Data

On a monthly perspective, the Bitcoin network hashrate shows an overall upward trend, with an increase in volatility. On August 9, the hashrate was 658.70 EH/s, marking the monthly low; on August 14, it reached 1.2275 ZH/s, a recent monthly high, representing an increase of approximately 86.4%. This trend indicates continuous inflow of miner computing power into the network, improved network security, and suggests that Bitcoin mining remains economically attractive at the current price levels.

Monthly Bitcoin Network Hashrate Data

On a quarterly perspective, the Bitcoin network hashrate demonstrates a long-term growth trend with gradually expanding volatility. This indicates:

1.Continuous upgrades of mining equipment, with new-generation miners increasingly deployed, enhancing computing power density.
2.A rise in network computing power concentration, with some large mining pools contributing significantly to total hashrate.
3.Increases in hashrate accompanied by price fluctuations, reflecting heightened miner sensitivity to market expectations.

Overall, quarterly data indicate that Bitcoin network security is steadily improving, with participation in computing power steadily increasing. However, high volatility also suggests the potential for short-term adjustments in hashrate concentration, which may impact mining profitability and price fluctuations.

Quarterly Bitcoin Network Hashrate Data

4. Mining Revenue

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

• August 9: USD 43.61 million
• August 10: USD 51.01 million
• August 11: USD 55.92 million
• August 12: USD 53.84 million
• August 13: USD 60.05 million
• August 14: USD 61.61 million

Overall, Bitcoin mining revenue this week showed a trend of rising first and then stabilizing. After a brief midweek decline, revenue peaked on August 14, with an overall weekly increase of approximately 41.3%. This fluctuation was mainly influenced by both Bitcoin price volatility and increased network transaction activity, while also reflecting miners’ relatively stable profitability under 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 USD 58.46/PH/s/day. On August 14, Hashprice reached the week’s high of USD 60.71/PH/s/day, then experienced a slight decline as Bitcoin prices pulled back, reflecting that unit computing power revenue is highly sensitive to Bitcoin price fluctuations. Multi-dimensional performance is as follows:

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

Quarterly range: At the median level over three months, showing that computing power costs and revenues remained balanced, and the market remains attractive.

Annual range: Still at a high level within the year, reflecting that miners’ overall profitability remains optimistic in the long term.

Hashprice Data

Recent Hashprice fluctuations are closely related to Bitcoin prices and network hashrate. This week, Bitcoin prices remained high, while the network hashrate growth slowed, keeping unit computing power revenue at a relatively high level. This indicates that miners maintain strong profitability while keeping computing power投入, providing stable support for the mining ecosystem.

In summary, current miner revenue remains relatively high, supported in the short term by Bitcoin prices and transaction activity, while unit computing power revenue shows that miners still enjoy good profitability under the current market conditions.

5. Energy Costs and Mining Efficiency

According to CloverPool data, as of August 15, 2025, the total Bitcoin network hashrate reached 909.75 EH/s, with a mining difficulty of 129.44T. The next difficulty adjustment is expected on August 23, 2025, with an estimated increase of approximately 1.36%, which would bring the adjusted difficulty to around 131.19T. This trend indicates that the Bitcoin network hashrate continues to rise steadily, miner participation remains active overall, and as mining difficulty increases, the output efficiency of individual miners will slightly decrease, further boosting demand for high-efficiency mining machines.

Bitcoin Mining Difficulty Data

From the perspective of mining costs, according to the latest MacroMicro model calculations, as of August 10, 2025, the unit production cost of Bitcoin was approximately USD 99,407.14, while the spot price at the same time was USD 119,824.34, a difference of about USD 20,417.20. The Mining Cost-to-Price Ratio (MCPR) is 0.80, indicating that miners on average still have roughly 20% gross profit margin. This data shows that even in the context of a difficulty increase, miners’ overall profitability remains stable, and short-term mining enthusiasm is unlikely to decline significantly.

At the same time, the on-chain indicator Puell Multiple remains in the 1.29–1.31 range, indicating that the current miner issuance ratio is at a mid-to-high level and has not reached historically extreme overheating or oversold conditions. This suggests that miner profitability is within a reasonable range, and market supply pressure is currently limited.

In summary, the Bitcoin mining market remains stable in terms of energy costs and efficiency. The continuous growth of the network hashrate reflects strong miner confidence, but rising difficulty may gradually compress profits for low-efficiency mining machines, highlighting the competitive advantage of high-efficiency miners. Meanwhile, spot prices relative to production costs still provide certain profit margins, and combined with the miner issuance levels indicated by on-chain metrics, the overall mining ecosystem remains healthy and orderly in the short term.

6. Policy and Regulatory News

Former Montenegrin Minister of Justice Proposes Issuing €500 Million Bonds to Establish a National Bitcoin Reserve
On August 9, news reported that the former Minister of Justice of the Republic of Montenegro proposed issuing €500 million in bonds to establish a national Bitcoin strategic reserve.

El Salvador Passes “Investment Bank Law” Allowing Licensed Banks to Conduct Crypto Asset Business
On August 10, according to Cointelegraph, Juan Carlos Reyes, Chairman of El Salvador’s National Digital Assets Committee (CNAD), confirmed that the newly passed “Investment Bank Law” will allow licensed investment banks to hold digital assets such as Bitcoin and provide crypto services to qualified investors.
The law explicitly allows investment banks to apply for a Digital Asset Service Provider (PSAD) license and even operate under a pure Bitcoin bank model. The government stated that this move will attract foreign investment and consolidate its position as a financial innovation hub, but critics pointed out that existing crypto policies mainly benefit institutions rather than the general public.

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China Remains Cautious on Issuing RMB Stablecoins
On August 10, Caixin reported that due to the progress of quantum computing, the security issues of blockchain technology in Bitcoin and other crypto assets have once again escalated. Caixin learned from multiple policy insiders that since the end of June, relevant authorities have held several meetings to discuss the development trends and response strategies for stablecoins and cryptocurrencies. They stated that research should continue, but media hype around the stablecoin boom should be cooled down. Regulators are closely monitoring trends in stablecoin issuance and related technologies and remain cautious about issuing RMB-backed stablecoins.

Wisconsin Proposes New Bill SB386: Bitcoin ATMs to Require Mandatory KYC and $1,000 Transaction Limit
On August 12, news reported that the Wisconsin State Senate proposed a new bill, SB386, which would require all Bitcoin ATMs to fully implement identity verification (KYC). Transactions must display identity information, single transaction limits are capped at $1,000, and additional personal information must be collected to strengthen regulation.

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Seoul Gangnam District Strengthens Crackdown on Crypto Tax Evasion, Recovering Around $245,000 in Taxes Since Late Last Year
On August 12, according to Cryptonews, Seoul’s Gangnam District is intensifying tax enforcement actions against cryptocurrency holders. Since late last year, the district has recovered approximately 340 million KRW (about $245,000) in unpaid taxes through crypto asset seizures. By cooperating with five major Korean crypto exchanges, Gangnam District has seized Bitcoin and other cryptocurrencies to collect unpaid taxes. Officials stated that many residents hold significant virtual assets, and after seizing these assets, voluntary tax payment rates have significantly increased.

Brazil’s Sixth-Largest City Passes Bill to Become the Country’s “Bitcoin Capital”
On August 13, according to @pete_rizzo, Brazil’s sixth-largest city passed a bill in its second-round vote to become the country’s “Bitcoin Capital.”

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7.Mining News

Bitcoin Mining Company TeraWulf Reports First-Half Net Loss Expands to Over $79 Million
On August 9, according to The Block, Bitcoin mining company TeraWulf’s Q2 financial report showed that due to continued investment in high-performance computing and mining operations, its net loss for the first half of this year expanded to over $79 million. Operating expenses (excluding depreciation) were approximately $22 million, up from $13.9 million in Q2 2024.
After opening with a nearly 3% increase, its stock is currently down nearly 4%. TeraWulf CEO Paul Prager stated: “TeraWulf will continue to execute its strategy, developing scalable and sustainable digital infrastructure to support high-performance computing hosting and proprietary Bitcoin mining.”

Ethiopia Suspends New Power Licenses for Crypto Miners Due to Capacity Constraints
On August 11, news reported that Ethiopia has suspended the issuance of new power licenses to cryptocurrency mining companies due to capacity constraints. This decision comes amid a surge of interest in Bitcoin mining. Currently, 25 Bitcoin mining companies are operational, and nearly 20 others are awaiting approval, mainly benefiting from Ethiopia’s low electricity prices and abundant hydro resources.

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Cango Acquires 50MW Georgia Mining Facility for $19.5 Million, 30MW for Self-Mining
On August 11, according to PRNewswire, NYSE-listed Cango Inc. (Ticker: CANG) announced the cash acquisition of a 50-megawatt Bitcoin mining facility in Georgia, USA, for $19.5 million, officially launching its vertical integration mining strategy. The facility already hosts Cango mining machines, with 30 megawatts allocated for self-mining and the remaining capacity for third-party hosting services.
CEO Peng Yu stated that this acquisition is a key step in the company’s diversified transition to "mining + energy" and plans to expand into high-performance computing (HPC) in the future. Cango has been involved in crypto mining since November 2024, and this transaction represents its first mining facility asset acquisition.

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CleanSpark Founder Matthew Schultz Appointed CEO
On August 12, Bitcoin mining company CleanSpark announced that founder and executive chairman Matthew Schultz will succeed the resigning Zachary Bradford as CEO, effective immediately. Bradford had served as CEO since October 2019. Schultz stated he will ensure the company’s stability and continued development.

MARA Plans $168 Million Acquisition of AI Subsidiary Stake from French Utility
On August 12, according to Bloomberg, Bitcoin mining company MARA Holdings Inc. plans to acquire a 64% stake in Exaion, a tech subsidiary of French utility EDF, for $168 million in cash.
Under the agreement, MARA may also choose to invest an additional $127 million to increase its stake to 75%. EDF will retain a minority shareholder position. This acquisition aims to expand MARA’s business layout in the artificial intelligence infrastructure sector.

Kazakhstan Uncovers $16.5 Million Electricity Fraud Involving Crypto Miners
On August 12, according to Bitcoin.com News, Kazakhstan uncovered a $16.5 million electricity fraud case involving cryptocurrency miners. Energy companies illegally supplied power to mining operations for two years, bypassing regulations requiring miners to purchase surplus electricity through the Ministry of Energy’s platform.

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Russian Authorities Discover Over 8,000 Illegal Cryptocurrency Miners in Irkutsk, Siberia
On August 12, Russian authorities discovered more than 8,000 illegal cryptocurrency miners in Irkutsk, Siberia.

Thumzup Media Corporation Completes $50 Million Share Placement Financing to Accumulate Cryptocurrency and Mining Equipment
On August 13, Thumzup Media Corporation, a social media company with cryptocurrency reserves backed by Donald Trump Jr., announced the completion of a $50 million share placement at $10 per share. The net proceeds will be used to accumulate cryptocurrency and mining equipment, as well as for working capital and general corporate purposes. Dominari Securities LLC served as the exclusive placement agent for this issuance.

Estonian Founder of HashFlare Bitcoin Mining Scam Sentenced to 16 Months in Prison
On August 13, @DecryptMedia reported that the Estonian founder of the HashFlare Bitcoin mining scam was sentenced to 16 months in prison. The U.S. Department of Justice is considering an appeal, as this sentence is far below the 10-year term 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, The Block reported that Bitcoin miner Bitfarms saw second-quarter revenue grow 87% year-on-year to $78 million. The company plans to relocate to the U.S., benefiting from former President Trump’s strong support for cryptocurrency and artificial intelligence.

Currently, 82% of Bitfarms’ energy portfolio is located in North America, including multiple sites in the U.S. and a facility in Quebec, Canada. The company plans to cease mining operations in Argentina due to potential economic uncertainties in the region.

Additionally, Bitfarms has launched a stock repurchase program. As of August 8, the company had repurchased 4.9 million shares at an average price of $1.24 per share.

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8. Bitcoin News

This week’s Bitcoin accumulation summary:

1.Harvard University Holds $117 Million in Bitcoin ETF, Surpassing Google’s Parent Company
On August 9, it was reported that at the end of Q2, Harvard University held $117 million worth of BlackRock Bitcoin ETF (IBIT), ranking fifth globally, surpassing its $114 million holding in Alphabet shares. IBIT currently manages approximately $8.4 billion.

2.El Salvador Increases Holdings by 1 BTC, Total Holdings Reach 6,265.18 BTC
On August 11, data from the El Salvador Ministry of Finance showed that the country increased its BTC holdings by 1 coin six hours ago, bringing the total to 6,265.18 BTC, valued at approximately $763 million.

3.France’s Capital B Increases Holdings by 126 BTC, Total Holdings Reach 2,201 BTC
On August 11, French listed company Capital B announced it purchased 126 BTC, bringing total holdings to 2,201 BTC.

4.Matador Increases Holdings by 5 BTC, Total Holdings Reach 77.4 BTC
On August 11, Matador Technologies bought 5 BTC for about $583,000 at an average price of $116,619, bringing total holdings to 77.4 BTC.

5.Strategy Increases Holdings by 155 BTC, Total Holdings Reach 628,946 BTC
On August 11, Strategy purchased 155 BTC from August 4 to 10 for $18 million at an average price of $116,401, bringing total holdings to 628,946 BTC, with a year-to-date return of 25%.

6.Empery Digital Increases Holdings by 17.51 BTC, Total Holdings Reach 4,018 BTC
On August 11, Nasdaq-listed Empery Digital bought 17.51 BTC for $2 million, raising total holdings to 4,018.36 BTC, with a cumulative purchase cost of approximately $472 million.

7.Bakkt Q2 Revenue Grows 13.3%, Advances Bitcoin Reserve Strategy
On August 12, Bakkt reported Q2 revenue of $577.9 million, a 13.3% increase year-over-year, and raised $75 million to strengthen its balance sheet and advance its Bitcoin strategy in Japan.

8.Metaplanet Increases Holdings by 518 BTC, Total Holdings Reach 18,113 BTC
On August 12, Japan-listed Metaplanet purchased 518 BTC for $61.4 million at an average price of $118,519, bringing total holdings to 18,113 BTC, with a year-to-date ROI of 468.1%.

9.The Smarter Web Company Raises Capital via Share Placement and Increases Bitcoin Holdings, Total Holdings Reach 2,395 BTC
On August 12, UK-listed The Smarter Web Company raised approximately $10.23 million through a new share placement to continue acquiring BTC. Subsequently, it purchased 295 BTC at an average price of $119,412, bringing total holdings to 2,395 BTC.

10.Norwegian Central Bank Investment Management Bitcoin Exposure Hits Record High
On August 12, the indirect Bitcoin exposure of the Norwegian Central Bank Investment Management (NBIM) rose to 7,161 BTC, setting a record high.

11.FoldHoldings Holds 1,492 BTC
On August 13, Nasdaq-listed Bitcoin financial services company FoldHoldings reported Q2 revenue of $8.2 million, up 59% YoY, and net income of $13.4 million. The company holds nearly 1,500 BTC, valued at approximately $180 million, with plans to expand holdings further.

12.LIXTE Biotechnology Launches Crypto Reserve Strategy, Plans to Allocate 25% to BTC
On August 13, Nasdaq-listed LIXTE Biotechnology announced that 25% of its funds would be allocated to cryptocurrencies, including Bitcoin and other digital assets, as part of the company’s strategic capital allocation plan.

13.Skycorp Solar Launches Digital Asset Reserve, Purchases 32.76 ETH
On August 13, Nasdaq-listed photovoltaic company Skycorp Solar launched a strategic digital asset reserve, planning to acquire BTC, ETH, and stablecoins. The first transaction purchased 32.76 ETH, with plans to gradually increase allocation.

14.MicroCloud Hologram Achieves $40.45 Million in Crypto Investment Gains
On August 13, Nasdaq-listed MicroCloud Hologram reported $40.45 million in gains from Bitcoin and crypto derivative investments, holding $421 million in cash reserves for potential investment in blockchain, quantum computing, AI, AR, and other fields.

15.H100 Group Raises $6.84 Million and Increases Holdings by 45.8 BTC, Total Holdings Reach 809 BTC
On August 13, Sweden-listed H100 Group completed a private placement, raising approximately $6.84 million for its Bitcoin treasury strategy and purchasing an additional 45.8 BTC, bringing total holdings to 809 BTC. Since the strategy launch, the company has raised about $124 million in total.

16.Linekong Interactive Discloses Crypto Holdings, Plans $100 Million Fundraising for Crypto Assets
On August 14, Hong Kong-listed Linekong Interactive holds 97.08 BTC, 913.63 ETH, 7,692 SOL, with its affiliates holding 96 BTC, 794 ETH, 6,365 SOL. The company plans to raise $100 million for crypto asset investment via “LK Crypto.”

17.Trump-Supported Bitcoin Company Holds 2,130 BTC
On August 14, ABTC, supported by the Trump family, purchased 1,726 BTC between July and early August, totaling approximately $205.6 million at an average price of $119,120 per BTC, bringing holdings to 2,130 BTC. The purchase was based on $220 million financing, and the company is pursuing a merger listing with Gryphon Digital Mining.

18.Norwegian Sovereign Wealth Fund Doubles Bitcoin Exposure to 7,161 BTC
On August 14, the Norwegian sovereign wealth fund increased its indirect Bitcoin holdings by 192% last year, now holding 7,161 BTC, sourced from Strategy, Metaplanet, and Coinbase. This reflects the trend of sovereign wealth funds investing in Bitcoin indirectly.

19.Sequans Plans to Acquire 100,000 BTC by End of 2030
On August 14, Nasdaq-listed Sequans plans to acquire a total of 100,000 BTC by the end of 2030. The company previously received $384 million in strategic investment to initiate its Bitcoin treasury program and currently holds about 3,171 BTC. On August 11, Sequans purchased 13 BTC at an average price of $117,012 for a total cost of approximately $1.5 million, bringing holdings to 3,171 BTC, with a cumulative purchase cost of about $370 million.

20.VCI Global Plans to Raise $51 Million to Establish Bitcoin Treasury
On August 14, Nasdaq-listed VCI Global will raise $51 million via convertible notes and share placement, with $20 million earmarked for BTC purchases to enhance fund diversification and long-term capital resilience.

21.DDC Enterprise Increases Holdings by 120 BTC, Total Holdings Reach 488 BTC
On August 14, NYSE-listed DDC Enterprise purchased 120 BTC at an average price of $98,737, bringing total holdings to 488 BTC.

22.Jeffs’ Brands Launches $75 Million Crypto Fund Management Plan
On August 14, Nasdaq-listed e-commerce company Jeffs’ Brands launched an AI-driven crypto fund management strategy, planning to invest up to $75 million in five major cryptocurrencies, including BTC. Quantum Crypto will provide trading, staking, and infrastructure management services.

PlanB: S&P 500 Index at $7,000, Bitcoin Corresponding Price $300,000
On August 11, analyst PlanB posted on X that if the S&P 500 index reaches 7,000 points, the corresponding price of Bitcoin would be $300,000.

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Data: Strategy’s Current Portfolio Unrealized Profits Exceed $30 Billion
On August 11, according to @BitcoinMagazine, Michael Saylor’s “Strategy” has generated over $30 billion in unrealized profits from its Bitcoin investment portfolio.

Blue Origin Announces Acceptance of Bitcoin, Ethereum, and Other Cryptocurrencies for Space Travel Services
On August 11, according to CoinDesk, Blue Origin, the space company founded by Amazon’s Jeff Bezos, announced it will accept Bitcoin, Ethereum, SOL, USDT, and USDC as payment for its New Shepard spacecraft space travel services.
Previously, Justin Sun traveled to space and returned to Earth aboard a Blue Origin spacecraft, with the trip lasting 10 minutes and 14 seconds.

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Nakamoto CEO: Will Purchase $1 Billion BTC Tomorrow
On August 11, Nakamoto CEO David Bailey posted on X that he will purchase $1 billion worth of BTC tomorrow. He wrote: “Ever since I got involved with Bitcoin, I have dreamed of buying $1 billion worth of Bitcoin in one go. Tomorrow, that dream will come true.”

Cathie Wood: ARK Maintains Bitcoin Price Prediction Above $1 Million Within Five Years
On August 12, according to CoinDesk, ARK Invest CEO Cathie Wood stated that ARK’s bullish expectation for Bitcoin in the next five years remains well above $1 million. Wood said Bitcoin has become the primary entry point for institutions into digital assets and is gradually replacing gold as a store of value. She emphasized that ARK has made no changes to this view.

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Trump’s Cryptocurrency Investments Have Generated $2.4 Billion in Profits
On August 13, according to Cointelegraph, since 2022, former President Trump’s cryptocurrency investments have generated $2.4 billion in profits.
The report stated that this income accounts for 43.5% of the personal wealth he has accumulated 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 Anchors for Fundraising by Funds and Institutions
On August 13, Wang Feng, founder of Linekong Interactive, posted that cryptocurrencies are having a significant impact on banks, asset management companies, and VCs in the financial industry. This influence is not about retail 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 assets for fundraising by many funds and institutions. It is not too late for traditional funds and investment managers (GPs) to change their view and participate actively.

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Total Cryptocurrency Market Cap Rises to $4.263 Trillion, Hitting a New All-Time High
On August 14, according to CoinGecko data, as Bitcoin reached a new all-time high of $123,667, the total cryptocurrency market capitalization rose to $4.263 trillion, setting a new record.

Data: Bitcoin Market Cap Surpasses Google, Rises to Fifth Position Among Global Assets
On August 14, 8marketcap data showed that Bitcoin’s market cap surpassed Alphabet (Google), reaching $2.456 trillion, and rose to fifth place among global mainstream assets. Previously, on August 11, Bitcoin’s market cap surpassed Amazon, reaching $2.45 trillion, ranking sixth globally in asset market value.

Analyst: If BTC Successfully Breaks $125,000, It Could Push Up to $150,000
On August 14, according to Jin10, Bitcoin reached a new all-time high on Thursday at $124,002.49, surpassing the previous peak set in July. Analyst Tony Sycamore stated that the rally is driven by increased expectations of a Fed rate cut, continuous institutional buying, and measures by the Trump administration to ease cryptocurrency investment. He noted that if Bitcoin successfully breaks $125,000, it could drive the price up to $150,000.