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MARA pledged 18,750 bitcoins to obtain 600 million dollars in new debt, expanding its power generation and AI infrastructure business

Bitcoin mining company MARA has completed two loans, obtaining $600 million in new debt after pledging 18,750 bitcoins to expand its power generation and AI infrastructure business. The collateral was valued at approximately $1.2 billion at the time of the transaction. The total principal of the two loans is $750 million, with Coinbase Credit providing $450 million, which includes refinancing of the existing $150 million credit line and an additional $300 million; Two Prime Lending provides another $300 million, and both loans have been fully drawn.The interest rate on the Coinbase loan is the midpoint of the Federal Reserve's target rate range plus 3.875 percentage points, maturing on August 4, 2028; the Two Prime loan has a fixed interest rate of 7.65%, maturing on August 3, 2028. If the principal remains unchanged, the annual interest expense for both loans is approximately $56.7 million. MARA stated that the loan funds will be used for general corporate purposes, including paying part of the cash consideration for the acquisition of Long Ridge Energy & Power LLC. The enterprise value of the transaction is approximately $1.5 billion, and Long Ridge owns a 505-megawatt gas power plant and over 1,600 acres of industrial land, which MARA plans to use for power generation, bitcoin mining, and potential AI and high-performance computing parks.

hot_img The U.S. Department of Commerce invests $874 million in seven semiconductor companies, betting on seven underlying technologies for the post-GPU era

On July 29, the U.S. Department of Commerce signed letters of intent with seven companies, totaling up to $874 million, to support seven "post-GPU era" underlying technology routes such as CPO, ferroelectric memory, and 3D packaging in the form of equity investments. This marks a shift in the U.S. chip strategy from "capacity reshoring" to "technology route selection."The seven companies and their technology directions include: GlobalFoundries (CPO silicon photonic integration, $300 million), Kepler Computing (ferroelectric 3D memory, $245 million), Multibeam (multi-electron beam direct-write lithography and advanced packaging, $140 million), Extropic (thermodynamic sampling unit TSU, $75 million), Thintronics (ultra-low loss dielectric materials, $50 million), Aeluma (large-size phosphorus-free optoelectronic device substrates, $30 million), and OBSIDIA (hardware zero-trust chip anti-counterfeiting, $34 million). All companies are required to provide non-controlling minority equity to the U.S. government.This move shows that the funding usage of the CHIPS Act is shifting from subsidizing wafer fabs to directly holding equity in cutting-edge technology companies with national capital, in order to secure rule-making authority in the post-Moore era.

The Financial Services Agency of Japan and the National Police Agency jointly requested cryptocurrency exchanges to strengthen anti-fraud measures

According to CoinPost, the Financial Services Agency of Japan and the National Police Agency recently jointly sent a letter to the Japan Virtual Currency Exchange Association (JVCEA), requesting exchanges to strengthen anti-fraud measures. This request includes 11 specific requirements, such as the need for withdrawal addresses to be registered in advance, enhanced transaction monitoring, strict verification of identification documents when opening accounts, and setting a withdrawal limit for a certain period after users deposit fiat currency or purchase crypto assets.The background of this action is the increasing prevalence of investment scams and "pig butchering" schemes on social media, where criminals frequently use crypto accounts to transfer illegal funds. The Financial Services Agency also suggested that exchanges flexibly set withdrawal limits based on customers' risk levels and transaction purposes, and that suspicious transactions should immediately result in account restrictions or freezes, while enhancing intelligence cooperation with the police. For system renovations that are difficult to implement in the short term, exchanges are allowed to proceed in phases. In addition, the Financial Services Agency has officially established the "Cryptocurrency and Stablecoin Division," responsible for related regulatory affairs.
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