BBX: "Hashrate Sovereignty" and "Ecological Tokens" Go Hand in Hand—Canaan Integrates West Texas Mining Farm, Hyperscale Asset Reserves Exceed Market Cap by 1.4 Times

BBX News: Yesterday, in the deepening process of global institutional crypto allocation, listed companies demonstrated a significant trend of shifting from "asset storage" to "infrastructure control" and "native token governance": —Hashrate rights integration: Canaan (NASDAQ: $CAN) announced yesterday the completion of its acquisition of a 49% equity stake in three mining joint ventures under Cipher Digital (NASDAQ: $CIFR), achieving equity swap through the issuance of Class A common shares, successfully converting its crypto reserves into underlying hashrate infrastructure with long-term cash flow output. —Native token treasury management: The9 Limited (NASDAQ: $NCTY) disclosed that the value of its 950 million 9BIT tokens has surged sevenfold since listing, reaching $19 million. The company has officially established a dual-track reserve model of "BTC + ecosystem tokens," leveraging the endogenous premium of the Web3 gaming ecosystem to restructure its balance sheet. —Deep valuation inversion: Hyperscale Data (NYSE American: $GPUS) holds 605.99 bitcoins. Its total cash and crypto reserves have reached 142.41% of its market capitalization. This extreme "margin of safety" not only provides redundant funds for its AI business but also makes it a potential restructuring target in the secondary market. —Multi-currency payment infrastructure: Thumzup Media (NASDAQ: $TZUP) is advancing a plan to acquire 7.5 million Dogecoin (DOGE). Supported by Donald Trump's son, the company intends to connect social advertising and MEME coin payment ecosystems through a "holding + self-mining" model, achieving deep integration of treasury management and business scenarios. The market is showing a clear dual trend of "asset infrastructuralization" and "normalization of treasury defense." Source: bbx.com