Encryption Industry Weekly Report

Regulatory Dynamics

1. The "14th Five-Year" Plan and the Outline of the 2035 Vision Goals propose to cultivate and grow emerging digital industries such as blockchain. The plan requires the construction of application scenarios and industrial ecosystems based on 5G, and to carry out pilot demonstrations in key areas such as intelligent transportation and smart logistics. Enterprises are encouraged to open up data from search, e-commerce, social media, etc., to develop the third-party big data service industry.

2. French National Assembly member Jean-Michel Mis signed a petition to the Senate, calling for authorization for the French central bank to purchase Bitcoin and other encryption currencies. The petition cited cases of companies like MicroStrategy and Tesla purchasing large amounts of Bitcoin, suggesting an update of relevant laws to empower the French central bank to buy, sell, and hold encryption assets.

Cryptocurrency Market

1. The price of Bitcoin has surpassed $60,000, reaching a new historical high, with a market value exceeding $1 trillion, surpassing the total market value of Tencent and the total market value of the Korean won.

2. Canadian regulators approve CI Financial's Bitcoin ETF, which began trading on the Toronto Stock Exchange on March 9.

3. Simplify Asset Management Company applied to launch "Stock + Bitcoin ETF", with 15% of the fund to be invested in Grayscale Bitcoin Trust (GBTC).

4. Yibang International announced that it will officially launch its cryptocurrency exchange at the end of March.

Mining Dynamics

1. The UK-listed mining company Argo Blockchain has completed the acquisition of 320 acres of land in Texas, USA, and plans to establish a new Bitcoin mining center.

2. Blockchain company Digihost Technology raised approximately 25 million CAD to acquire Bitcoin mining machines and more.

3. Code Chain New Continent Company announced the purchase of Bitcoin mining machines worth $10 million.

4. 500.com will change its business name in China to "Bit Mining", focusing on encryption currency mining business.

5. The Ninth City will purchase 10,252 Bitcoin mining machines, with a total hash rate increase of approximately 192 PH/S.

Traditional Institutions Entering the Market

1. Norwegian holding company Aker's Seetee has purchased 1,170 BTC, worth approximately 58 million USD.

2. BCMG Genesis in Malaysia launches the Bitcoin fund BGBF-I.

3. Grayscale's parent company DCG plans to purchase $250 million in GBTC.

4. The CEO of Enshman Group stated that they have doubled their holdings of Bitcoin.

5. MicroStrategy has purchased 262 bitcoins again for $15 million.

6. Israeli asset management company Altshuler Shaham holds $150 million in Grayscale Bitcoin Trust (GBTC).

7. The American custom apparel company RushOrderTees purchased $300,000 in encryption.

8. Note-taking software Roam Research invests 2% of its assets in Bitcoin.

Investment and Financing Progress

This week, there were a total of 36 investment and financing cases, involving an amount of approximately $605 million. The main investments and financing include:

1. BlockFi completes $350 million Series D funding, with a valuation of $3 billion.

2. FalconX raised $50 million in funding.

3. River Financial raised $12 million in Series A funding.

4. Reef Finance completed a $20 million financing.

5. Alchemix raised $4.9 million.

6. OpenOcean completes strategic financing, led by Binance.

7. Cere Network completed a $5 million private placement funding round.

8. The cryptocurrency exchange BTSE has completed a $22 million financing round, with a valuation of $400 million.