Nextbigone
4週前
MATH.Nasdaq The macro backdrop here is potentially far bigger than most investors currently appreciate.We are not simply looking at “crypto adoption” anymore.We are looking at the early stages of a restructuring of global capital markets, wealth management, yield generation, and financial infrastructure.Over the next decade, global wealth is projected to expand by hundreds of trillions of dollars, with many estimates suggesting an increase approaching US$400 trillion as emerging markets mature, private wealth compounds, sovereign assets grow, and AI-driven productivity expands global GDP. At the same time, investors are desperately searching for yield, diversification, volatility monetization, and alternative financial infrastructure.This is where the crypto derivatives market becomes extraordinarily important.Today, crypto derivatives volumes already dwarf spot trading activity — often representing 70–80%+ of total crypto trading volume globally. Industry estimates now place annual crypto derivatives volume in the tens of trillions of dollars, and structurally this market is still in its infancy relative to traditional finance.The key insight: as digital assets mature, the derivatives layer is likely to become one of the largest and most profitable segments of global wealth management infrastructure.That evolution mirrors what happened in traditional finance:equities led to options markets,commodities led to futures,FX led to structured products,fixed income led to swaps and yield engineering.Crypto is now entering that same institutional phase.And this is precisely where Metalpha Technology Holding Limited is positioned.Unlike treasury-style BTC proxy companies whose fortunes depend primarily on Bitcoin price appreciation, MATH sits inside the infrastructure layer:structured products,yield generation,volatility monetization,institutional hedging,derivatives engineering,OTC solutions,family office crypto wealth management.That distinction is critical.As crypto adoption broadens globally — from retail investors to sovereign wealth funds, private banks, family offices, miners, ETFs, and tokenized asset issuers — demand for:yield products,hedging,structured exposure,volatility management,collateral optimization,and risk transfershould expand exponentially.This creates a potentially enormous long-term runway for firms operating at the derivatives infrastructure layer.The market is already beginning to validate this thesis:institutional adoption accelerating,BlackRock/Fidelity/Franklin/Securitize tokenization initiatives,tokenized securities infrastructure emerging,stablecoins becoming settlement rails,global regulators increasingly creating compliant frameworks,exchanges evolving into full financial ecosystems.Meanwhile, Binance Earn itself distributed roughly US$1.2 billion in rewards during 2025 across more than 300 million registered users, demonstrating how large the yield-generation market is already becoming. ?Binance_Earn_Metalpha_Report_May2026 (2).docxThe most important part: the higher-value “Advanced Earn” products rely heavily on institutional derivatives infrastructure providers — and Metalpha appears deeply integrated into this ecosystem. ?Binance_Earn_Metalpha_Report_May2026 (2).docxThis creates a very powerful asymmetry for MATH investors.Because despite:profitability,rapidly growing revenues,strategic institutional partnerships,expanding derivatives infrastructure,exposure to Binance Earn,family office onboarding,OTC capabilities,and growing institutional crypto adoption,the shares continue trading near ~52-week lows and at valuation levels that appear extremely disconnected from the broader infrastructure thesis.That disconnect is what makes the opportunity potentially extraordinary.The market still largely views MATH as:a small-cap crypto stock,illiquid,underfollowed,Asia-centric,and misunderstood.But if the broader thesis plays out — namely:crypto becomes a permanent allocation inside global wealth management,tokenization scales into multi-trillion-dollar markets,derivatives become the dominant monetization layer of digital assets,structured yield products proliferate globally,institutional adoption accelerates through the 2026–2030 cycle,then firms sitting at the center of volatility monetization and structured product infrastructure could experience dramatic operating leverage.That is why MATH can potentially evolve from: “tiny underfollowed microcap” ? into “high-margin crypto wealth-management infrastructure platform.”And because the starting valuation is currently so depressed relative to peers like:CoinbaseRobinhood MarketsGalaxy DigitalDeFi Technologiesthe potential upside torque becomes unusually significant if execution continues and the broader crypto cycle strengthens.The timing element also matters enormously.Historically:crypto infrastructure names tend to massively outperform late-cycle,derivatives activity explodes during volatility expansions,retail participation accelerates rapidly during bull phases,and structured products become increasingly attractive when wealth managers seek yield enhancement.If we are indeed entering another “crypto summer” cycle between 2026–2030 — supported by:institutional inflows,ETF adoption,tokenization,stablecoin expansion,sovereign participation,AI-driven capital formation,and global liquidity growth,then MATH may be positioned in one of the highest operating leverage segments of the entire digital asset ecosystem.In many ways, the market may currently be valuing MATH as a speculative crypto stock…while the actual business model increasingly resembles a next-generation digital asset derivatives and structured wealth-management platform.That distinction could become extremely important over the next few years.
Nextbigone
2月前
TickerAnalyst ratingSTRONG BUYPrice at publication$3.08Last price$1.33Change since publication-56.82%S&P 500 change since publication3.85%Days since publication178Metalpha Technology Holding Limited (https://seekingalpha.com/symbol/MATH#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link) has done something unique: it has successfully executed a corporate restructuring that has completely overhauled the business model, moving the core business from one sector to another. In doing so, it has evolved from an ugly duckling to a profitable swan. Having been a stock market underperformer, drastically lagging the broader market, it has led the market by astronomical, triple-digit returns year-to-date (YTD). This analysis will show that this recent surge is the product of a sustainable growth trajectory. Although significant regulatory and execution risks remain, the company's strategic restructuring, profitable growth, and deep valuation discount suggest the rally has a fundamental foundation with room to run. The stock earns a “Strong Buy” rating.Metalpha is not one of the market’s winners. Since https://www.sec.gov/Archives/edgar/data/1682241/000114420417038133/v471241_f1a.htm#TOC in late 2017, the stock has declined by https://www.morningstar.com/stocks/xnas/math/chart compared to a rise of 161.23% for the SPDR S&P 500 ETF (https://seekingalpha.com/symbol/SPY#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link) and 150.47% for the iShares Russell 3000 ETF (https://seekingalpha.com/symbol/IWV#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link). As the company does not pay any dividends, the total degree of underperformance is actually much wider, with the SPY generating total returns of 196.83% and the IWV generating total returns of 181.40%.However, in the YTD, this stock market underperformance has turned around, and the company’s total returns are 170.43%, compared to 15.62% for the SPY and 15.17% for the IWV. The question for investors is whether this move is justified, and if so, whether there is still room to run.Like many Chinese companies operating in the Hong Kong Special Administrative Region (SAR) and seeking to get around the ownership and capital flow regulations of the People’s Republic of China (PRC), Metalpha is a holding company domiciled in the Cayman Islands and operating through its subsidiaries in the British Virgin Islands, Panama, and Hong Kong. As of the firm’s fiscal year (FY) https://ir.metalpha.net/uploads/files/20250731/4929a9fe281822e4ef5888ff1cea922b.pdf, the bulk of the firm’s revenue is earned in Hong Kong.This means that investing in the company exposes investors to Hong Kong’s legal system, which management describes as embodying “uncertainties which could limit the legal protections available to us.” One reason for these uncertainties seems to be a consequence of the newness of crypto regulation in the SAR, given that management also says,In addition, the Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) are continually refining their stance on digital assets. So there remains the possibility of a regulatory shift in which there are stricter capital requirements, leverage on derivative products is limited, or certain instruments are banned outright, which would force Metalpha to overhaul its core product offerings, raising its compliance costs and perhaps throwing the company back into loss-making territory. This regulatory uncertainty does not only apply to Hong Kong. As the company moves into new jurisdictions such as Switzerland and the Middle East, it becomes exposed to a complex, multi-regulatory web. Success in one regulatory jurisdiction does not guarantee success in another.Metalpha has a complicated history. Metalpha began its public life as https://www.metalpha.net/press-releases/metalpha-technology-holding-limited-to-expand-its.html, offering https://www.sec.gov/Archives/edgar/data/1682241/000114420417038133/v471241_f1a.htm and “quality incubation services.” It also operated a supply chain management services division serving auto repair shops and auto parts suppliers. As the crowdfunding platform and incubation services segment deteriorated, and PRC regulations tightened, revenues shrank and losses widened, and the company exited the market around fiscal year 2019, remaining with the supply chain management platform services until 2023. The company introduced digital asset-focused wealth management services in December 2021, and in late 2022, it completed a transformational restructuring, buying an existing crypto business, Antalpha Technologies Limited, and repositioning itself as a digital asset wealth management and derivatives trading firm. The shift seems to have been driven by an opportunistic strategic deal with Antalpha and related investors, and the faster-growing revenue opportunities in crypto derivatives, OTC and asset-management products, and as part of a deliberate corporate rebranding to capture that market. That pivot changed the company from a drifting, declining, loss-making business into a fast growing and profitable business. It is the reason why the stock market’s ugly duckling became a beautiful swan.In order to mitigate its geographic and regulatory risks, Metalpha is actively pursuing a strategy of diversification through strategic partnerships. Its https://www.morningstar.com/news/pr-newswire/20250828cn60966/metalpha-partners-with-amina-bank-the-swiss-crypto-focused-bank-to-advance-digital-asset-wealth-management-in-hong-kong, to offer solutions such as Principal Fund I, is an example of this strategy. The move adds credibility and access in a stable, mature regulatory environment. It also allows Metalpha to tap into a new European clientele, reducing its singular reliance on Hong Kong. Similarly, the https://www.prnewswire.com/news-releases/metalpha-announces-joint-venture-with-abu-dhabi-based-gewan-holding-and-subsidiary-of-standard-chartered-zodia-markets-to-expand-into-the-middle-east-digital-asset-market-302372106.html to form the joint venture, ZMG7 LLC, enables it to access the dynamic Middle Eastern market. These partnerships, as a whole, show Metalpha pursuing avenues of growth outside Hong Kong, and through firms that have a stellar reputation, bolstering confidence in Metalpha's own offerings. Metalpha's historical https://www.coindesk.com/business/2023/05/25/hong-kong-asset-manager-metalpha-secures-5m-from-bitmain-for-grayscale-based-fund through the Antalpha acquisition also provides a foundational advantage, and has allowed it to raise $5 million for its https://www.prnewswire.com/news-releases/metalpha-announces-successful-conclusion-of-next-generation-fund-with-exceptional-performance-302480129.html, which supports the underlying economics of its structured products.The effect of the corporate restructuring was to immediately return the company to growth in FY 2023, after seeing revenues decline from FY 2018: revenue accelerated to $5.7 million in FY 2023 from $122,711 the FY prior. In addition, the loss-making stabilised, narrowing in FY 2024 and ending in FY 2025 when Metalpha returned to profitability, after six years of loss-making. The importance of the return to profitability cannot be overstated. Even https://www.metalpha.net/files/20250521/10259179de3fc87a02e6a04a315510bd.pdf, the company’s auditors, Onestop Assurance PAC, wrote that,The return to profitability gave the company new life. In a year in which https://finance.yahoo.com/news/frothy-risky-rally-profitless-tech-110509532.html, it is easy to forget that, in the long run, markets reward firms earning and growing profits.In FY 2025, income from wealth management services rose to $44.57 million, a 165.86% improvement from FY 2024, while net income rose to $15.89 million, up from a net loss of $3.68 million in the prior FY. Said Adrian Wang, the company’s CEO, https://www.prnewswire.com/news-releases/metalpha-reports-a-nearly-tripled-revenue-surge--first-positive-annual-profit-in-fy2025-302518280.html,He added that,The firm’s execution of their transformation has been exceptional, and paid off with a turnaround in performance.Currently, Metalpha has a price/earnings (P/E) multiple of 7.05, a significant discount from Seeking Alpha's https://seekingalpha.com/symbol/MATH/valuation/metrics#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link and the 10.16 average of https://seekingalpha.com/symbol/MATH/peers/comparison?axis=linear&metric=pe_ratio#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link: Consumer Portfolio Services, Inc. (https://seekingalpha.com/symbol/CPSS#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link), Mogo Inc. (MOGO), and Medallion Financial Corp. (https://seekingalpha.com/symbol/MFIN#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link). If we use the sector and peer group PEs, we can get a target price for the company, assuming that as Metalpha’s business expands, its valuation will converge on sector and peer group averages. Holding diluted earnings per share (EPS) constant, that leads us to a target price of $3.53, or a 14.18% share price appreciation. That seems easily achievable by the firm, given current momentum.Source: Seeking AlphaMetalpha's evolution from a struggling Chinese crowdfunding platform to a profitable digital asset wealth manager is a remarkable corporate reinvention. The strategic acquisition and rebranding have unequivocally returned the company to growth and, most importantly, to profitability, silencing the prior going-concern warnings. Although the path forward is fraught with regulatory uncertainty across Hong Kong and new international markets, the company is proactively mitigating these risks through credible global partnerships.The firm trades at a significant discount to both its sector and a relevant peer group, indicating that Metalpha's current price does not appear to fully reflect its dramatic turnaround and growth prospects. The analysis suggests a plausible share price appreciation to $3.53, representing a 14.18% upside from current levels. For investors with a tolerance for the inherent risks of the crypto sector and complex international structures, Metalpha represents a high-risk, high-reward opportunity. The ugly duckling has indeed transformed.
US Market News
3月前
Metalpha to Hold 2026 Annual General Meeting of ShareholdersMarch 9, 2026 11:50 AM
PR Newswire (US)
HONG KONG, March 9, 2026 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global leading provider of blockchain and trading technology solutions, announced today that it will hold the 2026 annual general meeting (the "AGM") of shareholders of the Company at Suite 5506-07, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong, People's Republic of China on March 31, 2026 at 11:30 a.m. (Hong Kong time), for the purposes of considering and, if thought fit, passing the proposed resolutions set forth in the notice of the AGM (the "AGM Notice"). Members of record of the Company's ordinary shares, par value $0.0001 per share, registered on the Company's Register of Members as of 5:00 p.m. on March 9, 2026 (Eastern time) are entitled to attend and vote at the AGM in person or by proxy. A copy of the AGM Notice posted to the Company's website and a form of the voting proxy for the AGM will be attached as Exhibit 99.2 and Exhibit 99.3, respectively, to the Current Report on Form 6-K furnished by the Company with the United States Securities and Exchange Commission.About Metalpha Technology Holding LimitedMetalpha Technology Holding Limited (NASDAQ: MATH) is a global leading provider of blockchain and trading technology solutions, with a strong emphasis on the digital asset ecosystem. At the core of our operations is a principal-based proprietary trading model, where we engage in strategic, own-account trading of cryptocurrencies and other digital assets. We complement this with highly customized blockchain-related technology solutions and services. With extensive blockchain and traditional fintech expertise, we are dedicated to delivering state-of-the-art technological solutions, including digital asset related management systems, hedging infrastructures, liquidity solutions and institutional grade architectures. We offer highly customized, one-stop solutions to help our customers grow their businesses and are committed to strengthening our position as one of the largest gateways to digital assets in Asia.Forward-Looking StatementsThis press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
View original content:https://www.prnewswire.com/news-releases/metalpha-to-hold-2026-annual-general-meeting-of-shareholders-302708295.htmlSOURCE Metalpha Technology Holding Ltd.
Original: Metalpha to Hold 2026 Annual General Meeting of Shareholders
US Market News
3月前
BlockchainK2, Exos Financial, and Metalpha Announce Joint Venture for U.S. Institutional Digital Asset MarketFebruary 25, 2026 2:01 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (FSE: KRL2) (the "Company" or "BlockchainK2"), a provider of blockchain and trading technology solutions, today announced the signing of a memorandum of understanding (the "MOU") with Metalpha Technology Holding Limited (NASDAQ: MATH) ("Metalpha") and Exos Financial LLC ("Exos"), a technology-driven, boutique financial services platform based in New York. The three parties intend to form a joint venture ("JV") aimed at delivering compliant, institutional-grade digital asset solutions to clients based primarily in the United States.The proposed JV unites three highly complementary industry leaders to address the growing demand for crypto-financial services in the U.S.. This strategic collaboration leverages Metalpha's deep expertise in cryptocurrency derivatives and liquidity solutions alongside Exos Financial's regulated investment banking and asset management businesses and framework, established by former Credit Suisse CEO Brady Dougan. Completing the ecosystem, BlockchainK2 contributes advanced technology platforms for tokenization and fund distribution through its portfolio interests, effectively helping to bridge the gap between traditional finance and digital assets.Under the terms of the MOU, the parties plan to establish a business dedicated to delivering digital asset solutions to primarily to the U.S. institutional market, focusing initially on three core pillars: offering tailored OTC derivatives and hedging solutions to institutions and miners; developing digital asset investment strategies, such as crypto relative value; and creating securities-linked transactions that provide exposure to digital assets."This partnership represents a significant milestone in Metalpha's global expansion strategy," said Mr. Adrian Wang, CEO of Metalpha. "By joining forces with Exos and BlockchainK2, we are positioning ourselves to enter the critical U.S. market with a fully compliant, institutional-grade offering. We look forward to leveraging Exos's extensive knowledge and experience in the U.S. market and BlockchainK2's technological infrastructure to bring our market-leading derivative products to U.S. clients.""At Exos, we believe the future of finance lies in the seamless integration of technology and compliance," said Brady Dougan, Founder and CEO of Exos Financial. "Partnering with Metalpha and BlockchainK2 allows us to extend our modern institutional platform into the digital asset space, offering clients sophisticated strategies with the infrastructure and support they expect from a top-tier financial institution.""We are excited to facilitate this venture," said Sergei Stetsenko, CEO of BlockchainK2. "The combination of Metalpha's trading prowess, Exos's institutional pedigree, and our ecosystem's technological capabilities creates a powerful engine for growth. This JV is designed to solve key pain points for U.S. institutions seeking exposure to digital assets."About Metalpha Metalpha Technology Holding Limited (NASDAQ: MATH) is a global leading provider of blockchain and trading technology solutions. With extensive blockchain and traditional fintech expertise, we are dedicated to delivering state-of-the-art technological solutions, including digital asset related management systems, hedging infrastructures, liquidity solutions and institutional grade architectures. We offer highly customized, one-stop solutions to help our customers grow their businesses and are committed to strengthening our position as one of the largest gateways to digital assets in Asia.About Exos Financial LLC Founded in 2018, Exos Financial is a B2B institutional finance platform designed to modernize the delivery of investment banking and wealth management services. Exos operates U.S. regulated entities, offering technology-driven solutions in investment banking, asset management, and alternative investments.About BlockchainK2 Corp. BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (FSE: KRL2) is a holding company investing in blockchain technology solutions for capital markets and other sectors. The Company owns a majority interest in RealBlocks, a technology platform for private equity, private credit, and real estate that provides tokenized secondary trading and fund distribution solutions.BlockchainK2 Corp.
Sergei Stetsenko
CEO
Phone: 604 630-8746
Email: s.serge@gmail.comNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information Cautionary Statement Except for statements of historical fact, this news release contains "forward-looking information" and "forward-looking statements" under Canadian securities laws. These are typically identified by words such as "plan", "expect", "project", "intend", "believe", and similar expressions, and include statements about: (i) forming a joint venture (JV) and expected timing; (ii) negotiating, executing, and completing agreements for the JV; (iii) the JV's anticipated scope, strategy, governance, capitalization, ownership, and operations; (iv) the JV's ability to deliver compliant, institutional-grade digital asset solutions, including those described in this release; (v) expected benefits and demand for the JV's products and services; and (vi) the Company's ability to contribute technology platforms and connect traditional finance to digital assets. Forward-looking information is based on management's current opinions, estimates, and assumptions, which involve risks and uncertainties that could cause actual results to differ materially. Key risks include: failure to finalize agreements or form the JV, regulatory and compliance delays or obstacles, changes in laws or enforcement, market or technology risks, inability to obtain approvals, competition, operational issues, and economic conditions. Additional risks are detailed in the Company's filings on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update forward-looking information except as required by law. Readers should not place undue reliance on such information. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285298
Original: BlockchainK2, Exos Financial, and Metalpha Announce Joint Venture for U.S. Institutional Digital Asset Market
US Market News
3月前
Metalpha, Exos Financial, and BlockchainK2 Announce Joint Venture for US Institutional Digital Asset MarketFebruary 24, 2026 11:07 PM
PR Newswire (US)
HONG KONG, NEW YORK and VANCOUVER, BC, Feb. 24, 2026 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) ("Metalpha"), a global leading provider of blockchain and trading technology solutions, today announced the signing of a Memorandum of Understanding ("MOU") with Exos Financial LLC ("Exos"), a technology-driven boutique financial services platform based in New York, and BlockchainK2 Corp. (TSXV: BITK) ("BK2"), a public Canadian holding company for blockchain technology companies. The three parties intend to form a Joint Venture ("JV") aimed at delivering compliant, institutional-grade digital asset solutions to clients based primarily in the United States.The proposed Joint Venture unites three highly complementary industry leaders to address the growing demand for crypto-financial services in the US. This strategic collaboration leverages Metalpha's deep expertise in cryptocurrency derivatives and liquidity solutions alongside Exos Financial's regulated investment banking and asset management businesses and framework, established by former Credit Suisse CEO Brady Dougan. Completing the ecosystem, BlockchainK2 contributes advanced technology platforms for tokenization and fund distribution through its portfolio interests, effectively bridging the gap between traditional finance and digital assets.Under the terms of the MOU, the parties plan to establish a business dedicated to delivering digital asset solutions to primarily the US institutional market, focusing initially on three core pillars: offering tailored OTC derivatives and hedging solutions to institutions and miners; developing digital asset investment strategies, such as crypto relative value; and creating securities-linked transactions that provide exposure to digital assets."This partnership represents a significant milestone in Metalpha's global expansion strategy," said Mr. Adrian Wang, CEO of Metalpha. "By joining forces with Exos and BlockchainK2, we are positioning ourselves to enter the critical US market with a fully compliant, institutional-grade offering. We look forward to leveraging Exos's extensive knowledge and experience in the US market and BK2's technological infrastructure to bring our market-leading derivative products to US clients.""At Exos, we believe the future of finance lies in the seamless integration of technology and compliance," said Brady Dougan, Founder and CEO of Exos Financial. "Partnering with Metalpha and BlockchainK2 allows us to extend our modern institutional platform into the digital asset space, offering clients sophisticated strategies with the infrastructure and support they expect from a top-tier financial institution.""We are excited to facilitate this venture," said Sergei Stetsenko, CEO of BlockchainK2. "The combination of Metalpha's trading prowess, Exos's institutional pedigree, and our ecosystem's technological capabilities creates a powerful engine for growth. This JV is designed to solve key pain points for US institutions seeking exposure to digital assets."About Metalpha Metalpha Technology Holding Limited (NASDAQ: MATH) is a global leading provider of blockchain and trading technology solutions. With extensive blockchain and traditional fintech expertise, we are dedicated to delivering state-of-the-art technological solutions, including digital asset related management systems, hedging infrastructures, liquidity solutions and institutional grade architectures. We offer highly customized, one-stop solutions to help our customers grow their businesses and are committed to strengthening our position as one of the largest gateways to digital assets in Asia.About Exos Financial LLC Founded in 2018, Exos Financial is a B2B institutional finance platform designed to modernize the delivery of investment banking and wealth management services. Exos operates U.S. regulated entities, offering technology-driven solutions in investment banking, asset management, and alternative investments.About BlockchainK2 Corp. BlockchainK2 Corp. (TSXV: BITK; OTCQB: BIDCF; GERMANY: KRL2) is a holding company investing in blockchain technology solutions for capital markets and other sectors. The Company owns a majority interest in RealBlocks, a technology platform for private equity, private credit, and real estate that provides tokenized secondary trading and fund distribution solutions.Forward-Looking Statements This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
View original content:https://www.prnewswire.com/news-releases/metalpha-exos-financial-and-blockchaink2-announce-joint-venture-for-us-institutional-digital-asset-market-302696549.htmlSOURCE Metalpha Technology Holding Ltd.
Original: Metalpha, Exos Financial, and BlockchainK2 Announce Joint Venture for US Institutional Digital Asset Market
US Market News
4月前
Metalpha Starts Executing a BTC Allocation Plan Up to 20% of Annual Net ProfitFebruary 9, 2026 7:00 AM
PR Newswire (US)
HONG KONG, Feb. 9, 2026 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) ("Metalpha" or the "Company"), a global leading provider of blockchain and trading technology solutions, today announced that its Board of Directors has adopted a BTC allocation plan up to 20% of the Company's annual net profit.For the current period, the authorized allocation quota is approximately US$3.2 million, 20% of the Company's net profit of US$15.9 million as reported in its Annual Report on Form 20-F for the fiscal year ended March 31, 2025. The Company executed its initial purchase on February 9, 2026, with a total notional investment of approximately US$1 million. This initial tranche was traded via the Company's proprietary Accumulator structure at an average price of approximately US$54,000 per Bitcoin.Mr. Adrian Wang, CEO of Metalpha, commented: "We believe in BTC, which is the foundation of the entire blockchain industry. At current price level, the initial allocation plan is very attractive and may drive long-term shareholder value." About Metalpha Metalpha Technology Holding Limited (NASDAQ: MATH) is a global leading provider of blockchain and trading technology solutions. With extensive blockchain and traditional fintech expertise, we are dedicated to delivering state-of-the-art technological solutions, including digital asset related management systems, hedging infrastructures, liquidity solutions and institutional grade architectures. We offer highly customized, one-stop solutions to help our customers grow their businesses and are committed to strengthening our position as one of the largest gateways to digital assets in Asia. Forward-Looking Statements This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
View original content:https://www.prnewswire.com/news-releases/metalpha-starts-executing-a-btc-allocation-plan-up-to-20-of-annual-net-profit-302682472.htmlSOURCE Metalpha Technology Holding Ltd.
Original: Metalpha Starts Executing a BTC Allocation Plan Up to 20% of Annual Net Profit
ihubstockmover
10月前
Metalpha Reports a Nearly Tripled Revenue Surge & First Positive Annual Profit in FY2025
HONG KONG, July 30, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), through its subsidiaries, is dedicated to providing digital asset-focused wealth management services with a full-service, institutional-grade platform. The Company today announced its audited financial results for the fiscal year ended March 31, 2025.
FY2025 Annual Results Highlights
For the fiscal year ended March 31, 2025, Metalpha achieved $44.6 million in income from wealth management business, which was 266% of the amount for the prior year. Net profit reached $15.9 million, a significant turnaround from a net loss of $3.7 million for the prior year.
Fiscal Year 2025
(US$)
Fiscal Year 2024
(US$)
Fiscal Year 2023
(US$)
Income from Wealth
Management Business
$44,567,257
$16,763,545
$5,692,056
Gross Profit
$21,302,293
$5,627,748
$2,020,658
Profit (loss) for the
Year
$15,894,755
($3,679,409)
($20,167,351)
"Last fiscal year marked a transformative growth for Metalpha. The mass adoption of digital assets and increasing global regulation clarity provided a pivotal opportunity for us to shape the future of digital asset wealth management." Said Adrian Wang, CEO of Metalpha. "By leveraging our expertise spanning both digital assets and traditional financial markets, we are committed to delivering superior institutional-grade solutions – empowering clients to navigate digital asset opportunities with confidence. Exceeding client expectations remains our core mission."
The Company filed its annual report on Form 20-F for the fiscal year ended March 31, 2025 (the "2025 Annual Report") with the U.S. Securities and Exchange Commission (the "SEC") on July 30, 2025. The 2025 Annual Report contains the Company's audited financial statements for the fiscal year ended March 31, 2025, and is available on the SEC's website at www.sec.gov.
About Metalpha
Metalpha Technology Holding Limited (Nasdaq: MATH), through its subsidiaries, is dedicated to providing digital asset-focused wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of digital asset-based wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Forward-Looking Statements
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Media Contact:
Betty Zhang
betty.zhang@metalpha.finance
SOURCE Metalpha Technology Holding Ltd.
https://www.prnewswire.com/news-releases/metalpha-reports-a-nearly-tripled-revenue-surge--first-positive-annual-profit-in-fy2025-302518280.html
Nextbigone
11月前
🚀 Bitcoin Hits New All-Time High — Why Metalpha (MATH) Is the Smartest BTC Proxy Stock Bet Today
Bitcoin surged past $112,000 on July 9, 2025, setting a new all-time high and unleashing renewed optimism in the crypto market. But while headlines focused on Bitcoin ETFs and major crypto equities like Coinbase (COIN) and MicroStrategy (MSTR), the real alpha opportunity lies in Metalpha Technology Ltd (NASDAQ: MATH) — a rapidly scaling, under-the-radar derivatives powerhouse that offers the highest leverage to BTC upside with reduced downside risk.
---
🔍 Why MATH Is the Superior Bitcoin Proxy Stock
While traditional BTC proxy stocks like MSTR depend largely on holding Bitcoin on the balance sheet, MATH benefits from the massive growth in crypto derivatives, which are 20–40x larger than the spot market in volume. Here’s what makes it stand out:
🧠 Business Model Edge
Metalpha specializes in structured crypto derivatives and institutional hedging products, serving miners, funds, and high-net-worth individuals.
Unlike firms that hold BTC as an asset (and thus suffer during BTC drawdowns), MATH earns from trading spreads, structuring fees, and recurring flows, making it cash-flow positive in both bull and bear markets.
🔗 Deep Ties to Bitmain and Antalpha
MATH is strategically aligned with Bitmain, the world's leading BTC mining equipment provider, and Antalpha, its sister company, which recently IPO’d. This ecosystem grants MATH privileged client flow and early-stage deal access in crypto infrastructure.
💰 Earnings Power
Based on the latest guidance, MATH is on track to earn over $0.50 per share in EPS for the fiscal year ending March 2025 — an astounding achievement compared to its current valuation.
At just a 30x earnings multiple, the stock could trade between $15–$20, representing 5x–10x upside from recent levels below $3.
---
📈 BTC All-Time High: Institutional Demand Surging
Bitcoin's breakout has been driven by:
Institutional ETF inflows (IBIT, ARKB, GBTC) at record levels
Fed signals of rate cuts, weakening the USD and reigniting risk-on sentiment
Rumors of sovereign BTC adoption strategies and central bank interest
Massive short liquidations exceeding $340 million, reinforcing upward pressure
But not all proxy stocks benefit equally.
📉 The Problem with the “Treasury Strategy” (e.g., MSTR)
MSTR and similar firms are leveraged bets on BTC price only. If BTC stalls or corrects, these stocks suffer. They lack a diversified business model, and their valuation depends on BTC appreciation alone.
---
🔑 MATH: The Leverage Without the Risk
As BTC volumes rise, so do derivatives and hedging demand — MATH’s core revenue drivers.
Regulatory clarity across Hong Kong, Singapore, and Europe is giving MATH an open runway to expand globally.
With a second listing in Germany (symbol D92) and growing institutional visibility, MATH is perfectly positioned for multiple expansion.
---
🧭 Investment Outlook
Factor MATH MSTR COIN
BTC exposure High (via derivatives) Extreme (via BTC holdings) Medium (via trading volumes)Recurring revenue ✅ ❌ ✅Cash flow in bear markets ✅ ❌ MixedInstitutional ties Bitmain, Antalpha None BlackRock ETFs, US retailValuation upside 5x–10x Limited Moderate
---
📣 Final Takeaway
Bitcoin may have hit a new high, but for equity investors, the best asymmetric reward lies not in COIN or MSTR — but in MATH. With unmatched leverage to BTC transaction growth, strong earnings momentum, and global infrastructure expansion, Metalpha Technology Ltd is the most overlooked crypto equity gem on Nasdaq.
If BTC goes to $200K, MATH doesn’t double — it could go up 5x–10x.
Nextbigone
11月前
Metalpha Technology Holding Limited (Nasdaq: MATH) is considered a
superior investment opportunity compared to Bitmine Immersion Technologies, particularly for
investors interested in the crypto market. Here are the key points:
1. Leverage Without Liquidation Risk:
• Bitmine's strategy is a direct bet on ETH, which is volatile and price-dependent.
• Metalpha generates income from the crypto derivatives market, which is significantly
larger than the spot market. Their revenue is not solely dependent on token prices but
also on volumes, structures, and volatility, providing asymmetrical upside and downside
control.
2. Proven Growth and Earnings Guidance:
• Metalpha has guided for earnings of over $0.50 per share for the fiscal year ending
March 31, 2025.
• This guidance is supported by growth in notional derivative volume, wealth
management income, and disciplined risk management.
• Using a 30x P/E multiple, common for high-growth fintech and crypto firms, Metalpha's
share price could target between $15 to $20, with potential upside to $30+ in a bull
cycle.
• At the current share price of around $3, this represents a potential 5x to 10x upside.
3. Versatile Business Model:
• Metalpha's product suite includes accumulators, snowballs, and hedged yield products,
generating fees regardless of market direction.
• Their derivatives desk serves family offices, miners, and high-net-worth clients seeking
advanced crypto exposure with hedged risk.
4. Institutional Credibility and Regulatory Advantage:
• Metalpha is licensed under Hong Kong SFC (Type 4 & 9) for digital asset advisory.
• They have partnerships with the Litecoin Foundation, ParaX, and Middle East wealth
channels.
• Strategic links to Antalpha and indirect ties to Bitmain enhance their market position.
5. Strategic Inflection Point:
• With fiscal year-end results expected soon and EPS guidance already public, broader
analyst coverage is anticipated.
• A Frankfurt listing could open doors to European investor inflows.
• Strong macro backdrop for BTC and ETH adoption and growing interest in derivatives as
the next evolution of crypto investing.Summary Comparison: Metalpha vs. Bitmine ETH Play
Feature Bitmine (ETH Treasury) Metalpha (Crypto Derivatives)
Revenue Model Passive ETH holding Fee-based, active management
Earnings Visibility None Guided $0.50+ EPS (FY25)
Market Focus ETH price bet Multi-token derivatives growth
Risk Exposure High volatility Structured, hedged exposure
Valuation Potential Speculative $15–$30 price target on 30x P/E
Current Price ~$3 ~$3
Conclusion: Bitmine’s ETH play is a high-risk treasury bet with full exposure to downside volatility.
Metalpha, however, offers a profitable, scalable fintech model with derivatives leverage, downside
protection, real earnings, institutional validation, and regulatory coverage. With guided EPS of $0.50 and
a 30x multiple, Metalpha's share price target is $15–$30, making it an attractive leveraged crypto equity
trade.
Nextbigone
12月前
MATHPR NewswireHONG KONG, June 12, 2025HONG KONG, June 12, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) ("Metalpha" or the "Company"), a leading digital asset-focused wealth management company, today announced the successful completion of the LSQ Investment Fund SPC – Next Generation Fund I SP (the "Fund"), which delivered exceptional results over its two-year investment period.The Fund, managed by Metalpha's SFC Type 9 licensed subsidiary LSQ Capital Limited, commenced trading activities in late March 2023. From late March 2023 to March 2025, the Fund achieved a net asset value (NAV) performance of 375.5%, outperforming BTC by 67.3%, as tracked under by Bloomberg (ticker: LSQNEXI)."The performance of Fund exemplifies our commitment to delivering strong investment outcomes through deep market insight, prudent risk management, and close collaboration across our partners," said Mr. Adrian Wang, CEO of Metalpha. "We're proud to have created significant value for our investors and will continue to pursue innovative and compliant solutions in the digital asset space."Following the conclusion of the Fund's lifecycle, Metalpha is glad to transfer all of its 40% equity interest in NextGen Digital Venture Limited to Mr. Jason Huang, a key contributor to the Fund's success. The Company believes this transition will further strengthen the strategic cooperation between the Company and NextGen and ensure continued excellence in fund management and innovation. The proposed transaction and the terms of which have been reviewed and approved by the board of directors of the Company."We extend our sincere congratulations to Jason and wish him every success in leading NextGen Digital Venture Limited toward greater achievements in future," added Mr. Wang.Metalpha Technology Holding Limited (Nasdaq: MATH), through its subsidiaries, is dedicated to providing digital asset-focused wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of digital asset-focsed wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Nextbigone
12月前
$MATH news $1+ per share income
Metalpha Announces Fiscal Year 2025 Revenue Guidance and Investor Relations Update
(HONG KONG, June 9, 2025) -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the “Company” or “Metalpha”), through its subsidiaries, is dedicated to providing digital asset-focused wealth management services with a full-service, institutional-grade platform. For the first time, the Company today announced its revenue guidance for the fiscal year ended March 31, 2025, anticipating approximately US$40 million in total income. This represents approximately 238% of the US$16.8 million recorded in the prior fiscal year.
This guidance reflects Metalpha’s current operational projections and market position. To provide investors with more clarity and insight, this guidance, along with historical financial performance for the six months ended September 30, 2024, has been integrated into an investor presentation deck.
Metalpha has also enhanced its investor relations website at ir.metalpha.net. Investors can now find the latest corporate information and all presentations, including the newly released guidance, under the “Presentations” section. Metalpha remains dedicated to improving its disclosure practices to ensure more comprehensive and professional market communications.
About Metalpha
Metalpha Technology Holding Limited (Nasdaq: MATH), through its subsidiaries, is dedicated to providing digital asset-focused wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of digital asset-based wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause Metalpha’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Financial Disclosure Advisory
This press release contains certain estimated preliminary financial results for the fiscal year ended March 31, 2025. These estimates are based on the information available to the Company at this time. The Company’s financial closing procedures for the fiscal year ended March 31, 2025 are not yet complete and, as a result, actual results may vary from the estimated preliminary results presented here due to the completion of the Company’s financial closing and audit procedures. The estimated preliminary financial results have not been audited or reviewed by the Company’s independent registered public accounting firm. These estimates should not be viewed as a substitute for the Company’s full annual financial statements. Accordingly, you should not place undue reliance on this preliminary data.
Nextbigone
1年前
MATH.Nasdaq sister company ANTA IPO dayAntalpha provides financing, technology and risk management solutions to the digital asset industry. As the primary lending partner for Bitmain, we are a provider of supply chain financing solutions to institutional and corporate participants in the Bitcoin mining industry, offering loans secured by Bitcoin and Bitcoin mining machines. We have developed a technology platform, Antalpha Prime, which enables our customers to apply for and manage their digital asset loans while allowing us to closely monitor collateral positions. We empower institutions and corporations to expand their Bitcoin mining business with immediate access to mining machines and sizable financing that is not readily available from conventional financial institutions. We enable Bitcoin miners to find liquidity with loans on capital expenditures and operating costs so that they can hold onto their Bitcoin and better endure the market volatility of Bitcoin prices, also known as HODLing. Supply chain financing for the Bitcoin mining industry represents a significant and largely untapped market opportunity. It is estimated that the market size for digital asset mining machines reached $4.9 billion in 2024, according to the Business Research Company. In addition, we estimate that Bitcoin miners currently spend approximately $8.2 billion annually on operating expenditures. We operate in the large and growing digital economy. Bitcoin is the largest digital asset, with a market capitalization that has grown from approximately $4.4 billion as of December 31, 2014 to $1.9 trillion as of December 31, 2024, according to Statista, representing a compound annual growth rate of over 83% over the past decade. Our addressable market will continue to expand as the value of Bitcoin increases, enhancing the collateral value available for our customers to borrow against. We have established unique strategic relationships with Bitmain and Northstar. As a business that set out to facilitate Bitcoin mining, we initially built our relationship with Bitmain, the world’s largest Bitcoin mining machine supplier, through our network of Bitcoin miners. We work closely with Bitmain across various levels of their organization, from sales to operations to executive management, acting as an integral part of their sales and origination process. We have entered into a memorandum of understanding with Bitmain, under which Bitmain will continue to utilize Antalpha as its financing partner, we have agreed to refer customers to each other, and Bitmain has agreed to provide us with a right of first refusal to serve its customers seeking financing, so long as we offer competitive financing terms. Our funding partner, Northstar, has historically provided almost all of the funding for the loans we originated. Northstar also offers financing solutions, which currently consist of Bitcoin margin loans, or Bitcoin loans, to our non-US customers through Antalpha Prime, for which we earn a technology platform fee. Prior to the 2024 Reorganization, we were affiliated with Northstar by virtue of being its sister company under common ownership of the Parent Company. Mr. Ketuan Zhan, founder of Bitmain, was the ultimate beneficial owner of the Parent Company but he did not take part in its operations. Northstar is currently owned by an irrevocable trust, and the trustee of this irrevocable trust is a professional trustee firm. Mr. Ketuan Zhan is the settlor and beneficiary of the trust and he does not take part in the operation of Northstar. Additionally, we have established key relationships with other Bitcoin ecosystem partners, including leading equipment suppliers, mining pool companies, stablecoin issuers and multi-party computation (MPC) technology providers, all of whom play a vital role in the growth and strength of the digital asset economy. Some of these entities also provide attractive financing to our business through our financing partner, Northstar, creating a mutually beneficial relationship as our products and services complement the growth in our partners’ businesses. For example, our business lowers the threshold to purchase mining machines by providing finance options and promotes the circulation of stablecoins, as our loans are typically settled in USDT. Additionally, we play an important role in securing the Bitcoin network by financing miners that are responsible for validating new blocks on the blockchain. We enable our customers to commence mining operations rapidly. When our customers purchase mining machines from Bitmain using our financing, they purchase machines that have recently been deployed on-rack, enabling them to calibrate the total cost of operation at the particular data center, as well as be able to start Bitcoin mining almost immediately. This approach contrasts with typical direct purchases, which can take up to six months or more, due to the time needed for factory delivery, import customs clearance, hosting site selection, installation and setting up services. Rapid access to Bitcoin mining is a significant benefit to dealing with the volatility of Bitcoin prices. We believe that combining speed to market with attractive financing terms is essential in a volatile and quickly changing Bitcoin mining environment. Our customers benefit from access to a comprehensive network of supply chain vendors tailored for data centers across the U.S., offering services such as machine hosting, yield-monitoring software, and maintenance and repairs. We help our customers engage with relevant vendors after they select a mining site, gain a better understanding of the mining process, and settle vendor payments through hashrate loans using the Bitcoins they mine as collateral. By streamlining Bitcoin mining operations and supporting our customers in navigating a network of mining service providers, we make it easier for them to enter and thrive in the Bitcoin mining industry, regardless of their prior experience. Our service support and ability to provide tailored solutions have enabled us to expand our customer base from traditional Bitcoin miners to non-traditional mining participants, such as family offices and corporations. From inception to December 31, 2024, we facilitated a total of $2.8 billion in loans, including supply chain loans that we originated and Bitcoin loans that we serviced. Due to our overcollateralization requirement at origination and strict risk management capabilities, we did not record any allowance, write-offs or recoveries against the receivables on the supply chain loans that we originated during this period. During the same period, we have not experienced any loan default or lost principal on our loans. Bitcoin is a highly liquid asset, with an average daily trading volume over $62 billion for the three months ended December 31, 2024, according to Coingecko. We typically require a loan-to-value (LTV) on collateral of between 50% and 80% at loan origination, depending on the type of loan and other factors. Mining machine loans typically require an LTV of 50% at origination, while hashrate loans typically require an LTV of 60% to 80% at origination. As of December 31, 2024, approximately 97% of our supply chain loan customers had their loans secured by Bitcoin. Collateral in the form of Bitcoin is typically transferred to us for the duration of the loan and remains inaccessible to the borrower until the loan and accounts receivable are fully repaid. Additionally, we secure loans by taking collateral in the form of Bitcoin mining machines. Our mining machine loan customers purchase on-rack mining machines from Bitmain that are housed in facilities that Bitmain leases from third-party data center operators. We require the secured machines to remain on site until the loan and accounts receivable are fully repaid. Our deep understanding of Bitcoin mining, combined with our relationships across a strong network of mining ecosystem partners, including equipment suppliers, mining pool companies and data center operators, enables us to effectively manage collateral like Bitcoin and mining machines. We have seen significant revenue growth and improving profitability. Our revenue primarily consists of technology financing fees charged on the supply chain loans that we originate. Our supply chain loan portfolio, which consists of mining machine loans and hashrate loans, has grown from $344.0 million as of December 31, 2023 to $428.9 million as of December 31, 2024 representing a 25% year-on-year increase. In addition, we enable our financing partner, Northstar, to provide Bitcoin loans to our non-U.S. customers. We contract directly with Northstar’s borrowers, service them over the term of the loan, and earn a technology platform fee for our services. The amount of Bitcoin loans we serviced grew from $220.8 million as of December 31, 2023, to $1,198.7 million as of December 31, 2024, representing a year-on-year increase of 443%. For the year ended December 31, 2024, revenues from technology financing fees increased 274% year-on-year to reach $38.7 million, revenues from technology platform fees increased 859% year-on-year to reach $8.8 million, and total revenues increased 321% year-on-year to reach $47.5 million. For the years ended December 31, 2023 and 2024, we recorded net loss of $6.6 million and net income of $4.4 million, respectively. A key driver of our revenue and loan growth has been our innovative and expanding range of products, designed to meet both our customers’ needs while maintaining our high standards for risk management. We began our operations in July 2022 with purchase order financing, allowing Bitmain customers to assign the down payment on their mining machine purchase to us as collateral for loans to cover the remaining balance on their purchase order. In October 2022, we added hashrate financing, allowing borrowers to pledge the Bitcoin that they mine as collateral to finance expenditures on mining-related services. Subsequently, in April 2023, we introduced mining machine financing, in partnership with Bitmain to help their customers finance on-rack mining machine purchases using the purchased machines as collateral. We work closely with our customers to deeply understand their needs and develop innovative, bespoke financing solutions to support their business growth. We aim to leverage Antalpha Prime and our expertise in supply chain financing and risk management to offer customized financing solutions and value-added services for clients across the digital economy. This includes exploring financing options for the purchase of graphics processing units, or GPUs, used for artificial intelligence, a rapidly growing market projected to reach approximately $235 billion in spending in 2024, according to IDC. We believe our supply chain financing and risk management know-how is deployable into different industries requiring massive computing, and that our business model is adaptable to working with leading equipment suppliers and customers who have sizable Bitcoin holdings. In addition, we plan to leverage our risk management know-how to deploy new products and services to our customers that would not require funding from us. --- Our principal executive office is located at 9 Temasek Boulevard, Suntec Tower 2, #13-02, Singapore, 038989. Our telephone number at this address is +65 6513 8815. Our registered office in the Cayman Islands is located at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. Our main website is https://www.antalpha.com. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY 10168.
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