transformation

Nasdaq-listed company Intchains Group Limited announced its latest business developments, disclosing its Ethereum (ETH) staking scale and AI-driven operational transformation plan. The company stated that as of now, it has staked a total of 8,040 ETH, of which 1,000 ETH were completed through the FalconX platform, and 7,040 ETH were deployed on its own Goldshell Stake platform; additionally, third parties have staked 1,363 ETH on this platform. The company claims to achieve maximized returns and risk diversification through a multi-platform strategy.On a strategic level, Intchains is advancing its AI-enabled operational model transformation, focusing on chip and product research and development, market sales, and overall business operations, restructuring processes and enhancing decision-making efficiency through automation and intelligent tools. In terms of cost control, the company has reduced its workforce by about 20% based on early 2026 levels and plans to further compress it to a total of about 35%, which is expected to bring annual savings of approximately 20 million RMB in labor costs. This adjustment mainly stems from organizational streamlining and replacing repetitive manual processes with technology. The company's management stated that it will focus on core mining machine technology and Ethereum asset strategy, combining AI to enhance research and development and operational efficiency, and plans to launch a new generation of mining machine products in the second half of 2026 (depending on market conditions).

Due to the current pressure of approximately $19,000 loss per mined Bitcoin, mining companies are accelerating their transformation towards artificial intelligence and high-performance computing, and are funding related infrastructure investments by selling part of their BTC reserves.Data from CoinShares shows that publicly listed mining companies have collectively announced AI and HPC collaboration projects worth over $70 billion, and the industry as a whole is transforming towards computing power services.

According to a report by Coinshares, Bitcoin mining profit margins are at a historical low. In the first quarter of 2026, the hash price fell to about $28-30 per PH/s/day, reaching a new low after the halving. The weighted average cash cost in the fourth quarter of 2025 reached about $80,000 per coin, with approximately 15-20% of mining machines globally operating at a loss.The transition of mining companies to AI is no longer an option. Publicly listed mining companies have cumulatively announced over $70 billion in AI/HPC contracts, and by the end of 2026, up to 70% of the revenue for listed mining companies may come from AI. Some mining companies are taking on huge debts for AI construction, fundamentally changing the risk landscape of the industry. There is a significant divergence in the valuation of mining companies; those obtaining HPC contracts have an EV/NTM revenue multiple of 12.3 times, while pure mining companies have a multiple of 5.9 times. The industry has differentiated into infrastructure companies and mining companies, with vastly different prospects for both.

According to BBX data, yesterday global listed companies showed strong momentum in "revenue monetization" and "mainstream financial institutions entering directly" in cryptocurrency asset allocation:$50 million strategic increase: Nomura's digital asset subsidiary Laser Digital announced yesterday that it has completed a $50 million increase in Bitcoin treasury on behalf of its parent company. This marks the first time a major Japanese financial giant has clearly decoupled its proprietary positions from institutional brokerage business, indicating that Japanese financial institutions are beginning to view BTC as core Tier 1 capital.Direct conversion of advertising revenue: Reddit disclosed in its quarterly supplemental filing submitted to the SEC yesterday that it has begun converting part of its excess cash reserves and advertising revenue into BTC and ETH. Reddit stated that the allocation of its on-chain native assets aims to provide underlying liquidity for the future "contributor economy."$25 million hedging initial position: Zillow Group's board approved a $25 million allocation for Bitcoin yesterday. As a real estate technology giant, Zillow plans to use BTC as a cross-border liquidity buffer for its global home purchase settlement business to combat fluctuations in multiple fiat currency exchange rates.15% net profit allocation: WonderFi officially established financial guidelines yesterday, announcing that it will convert 15% of its net profit each quarter into Bitcoin reserves over the next three years. It executed its first purchase of $2.4 million yesterday, with total holdings steadily increasing.$10 million debt transformation: Stronghold Digital disclosed yesterday that the $10 million in cash freed up through a debt-to-equity agreement has all been converted into Bitcoin, establishing a financial restructuring goal of "low debt, high holdings."

According to the official website of the U.S. District Court for the Southern District of New York, the cryptocurrency exchange Gemini Space Station, Inc. (Gemini) and its founders Tyler Winklevoss, Cameron Winklevoss, and other executives are facing a securities class action lawsuit. The lawsuit alleges that Gemini made significant misleading statements in the documents related to its initial public offering (IPO) on September 12, 2025, failing to disclose its plan to shift from its core cryptocurrency trading platform business to a prediction market-centered "Gemini 2.0" model.The lawsuit documents also point out that Gemini announced a 25% layoff in February 2026 after the IPO and exited the markets in the UK, EU, and Australia. Additionally, the company's Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard, and Chief Legal Officer Tyler Meade have recently left the company. According to Bitget market data, Gemini's stock price is currently reported at $6.3, down 77.5% from the issuance price of $28, resulting in significant losses for investors.

Crypto.com CEO Kris Marszalek disclosed on social media that Crypto.com is officially advancing enterprise-level artificial intelligence (AI) integration across the company and simultaneously reducing approximately 12% of its positions. Affected employees have been notified, and the company will provide them with appropriate transitional support resources.Kris Marszalek stated that this strategic adjustment aims to combine the best AI tools with high-performing talent to achieve levels of scalability and precision that were previously unattainable. The positions being cut are primarily functional roles that are deemed unable to adapt to the new business model.

OnGreen, a platform connecting global green technology with the transformation needs of the Middle East and North Africa (MENA), announced that its co-founder Zhang Yu (Martin Zhang) has officially assumed the role of Chief Green Officer (CGO). This appointment will further strengthen OnGreen’s capability in executing and implementing ecological restoration and sustainable agriculture projects. Zhang Yu has more than 20 years of practical experience in sustainable agriculture and desertification control. He has been recognized as a “Lifelong Expert in Desertification Control” by the Chinese Academy of Sciences, and has led multiple national-level agricultural demonstration projects in Hebei, Shanxi, Gansu, and Qinghai. Zhang Yu stated: “At the OnGreen platform, I hope to bring these experiences to the international stage. By combining physical technologies with the Web3 financial layer, we can accelerate the green transformation of the Middle East and make deserts the foundation of sustainable civilization.” This appointment comes as OnGreen accelerates the development of its Oasis Journey model. The model integrates desertification control, low-carbon construction, AI optimization, and real-world asset (RWA) tokenization, and will align with regional strategic initiatives such as the Saudi Green Initiative and UAE Net Zero 2050. OnGreen is the Web3-enabled green technology platform transforming the Middle East and North Africa region from Sand to Seed, Brown to Green, Desert to Oasis. Through blockchain-verified impact measurement and the Oasis Journey ecosystem model, OnGreen creates transparent, accessible, and community-driven environmental transformation. The platform's ESG Token, Carbon Credit Registry and Green Asset Exchange shall provide the digital infrastructure for MENA's transition to a sustainable economy.

Bitcoin mining company Core Scientific (NASDAQ: CORZ) expects to sell all of its approximately 2,500 bitcoins in the first quarter of 2026 to enhance liquidity and fund capital expenditures related to its AI computing hosting expansion.In its annual report submitted on Monday, the company stated, "The majority of the bitcoin reserves are currently expected to be sold in the first quarter," but the specific timing and amount will depend on market conditions and liquidity needs, and may be adjusted. As of December 31, 2025, Core Scientific held 2,537 bitcoins.

Nasdaq-listed Bitcoin mining company Cipher Digital has released its fiscal year 2025 performance report, which discloses that the company has officially changed its name from "Cipher Mining" to "Cipher Digital" to complete its brand transformation. In terms of financing, the company has completed three financing transactions totaling $3.73 billion, including: $1.4 billion in senior secured note financing, $333 million in same-rate note financing, and $2 billion in senior secured note financing. These funds are expected to support its upgrade to a next-generation computing power infrastructure development and operation platform in 2026.

Cookie DAO announced on platform X that it will transform into a prediction market platform, betting on the fastest-growing track in the crypto space.According to previous news from ChainCatcher, Cookie DAO announced the cessation of operations for Snaps.

Bitfinex's report indicates that Ethereum previously processed about 2.88 million transactions in a single day, setting a historical record, while the average transaction fee remained low, exhibiting an unusual characteristic of "high throughput, low fees," demonstrating that its long-term technological roadmap, especially Layer 2 scaling, is gradually showing results.As usage increases, the mainnet continues to operate smoothly, and the Ethereum mainnet is gradually transitioning to a neutral settlement and coordination layer. This modular architecture is closer to the layered logic of traditional financial infrastructure: the underlying layer focuses on security, certainty, and final settlement, while the upper layer takes on innovation and execution complexity. However, the report also warns that recent transaction volumes may include low-value activities such as address poisoning, particularly evident in stablecoin transactions, and caution is needed when measuring real economic usage solely by transaction volume.

According to the “RootData 2025 Web3 Industry Annual Report”, 2025 is a crucial year for the cryptocurrency industry to transition from extreme volatility to institutional development. Affected by macro shocks and factors such as the "1011 crash," Bitcoin's annual volatility reached 63%, ending the year down 8%, underperforming compared to gold (+53%) and Nvidia (+30%). Although BTC once hit a historic high of $126,000, its limitations were revealed under inflationary pressure.The report indicates that investors should prioritize compliance and transparent assets to avoid geopolitical and hacking risks.

Coinbase's Head of Investment Research, David Duong, stated, "Despite the recent lackluster performance of cryptocurrency prices, this remains an unusual and transformative period for the crypto ecosystem.I believe that the core characteristics of this asset class continue to be the accelerating institutional adoption and a broader, more diverse investor base that is reshaping overall demand. In other words, the full potential of the crypto industry is still far from being fully realized. One of the key factors driving the transition of the crypto industry from a niche market to an emerging pillar of global financial infrastructure is the evolving regulatory environment.As the global regulatory framework becomes clearer, the U.S. is shifting towards clearer regulation of stablecoins and market structure, while Europe is advancing and integrating the MiCA regulations. The way institutions formulate strategies, manage risks, and ensure compliance is undergoing fundamental changes. The direct result is that operational readiness is genuinely in place: clearer policy guardrails create realistic conditions for product innovation, market maturity, and deeply embedding crypto rails into payment and settlement systems. This is the cornerstone for building the next phase of institutional adoption."