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On May 12, MARA announced its Q1 financial and operational data for 2026, reporting a net loss of $1.3 billion (diluted loss per share of $3.31), compared to a net loss of $533.4 million in the same period last year. The loss was primarily due to a $1 billion loss from changes in the fair value of digital assets. During the quarter, the company produced 2,247 BTC at an average cost of $76,288 and sold 20,880 BTC at an average price of $70,137. Additionally, MARA stated that it will continue to advance its evolution into a leading digital infrastructure company, aiming to convert energy into high-value computing capabilities in AI, HPC, critical IT workloads, and Bitcoin mining.

[MARA Reports Q1 Net Loss of $1.3 Billion, Sells 20,880 Bitcoins at Average Price of $70,137]On May 12, MARA announced its Q1 financial and operational data for 2026, reporting a net loss of $1.3 billion (diluted loss per share of $3.31), compared to a net loss of $533.4 million in the same period last year. The loss was primarily due to a $1 billion loss from changes in the fair value of digital assets. During the quarter, the company produced 2,247 BTC at an average cost of $76,288 and sold 20,880 BTC at an average price of $70,137. Additionally, MARA stated that it will continue to advance its evolution into a leading digital infrastructure company, aiming to convert energy into high-value computing capabilities in AI, HPC, critical IT workloads, and Bitcoin mining.

MARA Reports Q1 Net Loss of $1.3 Billion, Sells 20,880 Bitcoins at Average Price of $70,137

On May 12, CleanSpark announced its Q1 revenue of $136.4 million, a 24.9% decrease from $181.7 million in the same period last year. The net loss was $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the previous year. Adjusted EBITDA was -$241.2 million, compared to -$57.8 million in the same period last year. 

As of March 31, 2026, the balance sheet shows the company held $260.3 million in cash and Bitcoin holdings valued at $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties in collateral arrangements). Total current assets amounted to $1 billion, with total assets reaching $2.9 billion. Total long-term debt (net of discounts and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders' equity was $1 billion, and working capital was $1 billion.

[CleanSpark Reports Q1 Net Loss of $378.3 Million, Bitcoin Holdings Valued at $925.2 Million]On May 12, CleanSpark announced its Q1 revenue of $136.4 million, a 24.9% decrease from $181.7 million in the same period last year. The net loss was $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the previous year. Adjusted EBITDA was -$241.2 million, compared to -$57.8 million in the same period last year. 

As of March 31, 2026, the balance sheet shows the company held $260.3 million in cash and Bitcoin holdings valued at $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties in collateral arrangements). Total current assets amounted to $1 billion, with total assets reaching $2.9 billion. Total long-term debt (net of discounts and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders' equity was $1 billion, and working capital was $1 billion.

CleanSpark Reports Q1 Net Loss of $378.3 Million, Bitcoin Holdings Valued at $925.2 Million

On May 12, according to official news, following an update on the Arbitrum DAO proposal, on May 1, a plaintiff in an unrelated case delivered an injunction to Arbitrum DAO concerning the ETH frozen after the rsETH incident. A few days later, Aave LLC filed an emergency motion for its dismissal. On May 8, the court modified the injunction, allowing for on-chain Arbitrum voting and permitting the transfer of the frozen ETH to Aave LLC. After the transfer, the injunction will be attached to Aave LLC. The revised constitutional AIP retains the asset recovery intent already approved by Arbitrum DAO, and the ETH will still be used for the recovery related to the rsETH incident. Aave LLC will comply with all court obligations during the litigation process.

[Arbitrum DAO Proposal Update: Court Modifies Injunction, Allows Transfer of Frozen ETH to Aave LLC]On May 12, according to official news, following an update on the Arbitrum DAO proposal, on May 1, a plaintiff in an unrelated case delivered an injunction to Arbitrum DAO concerning the ETH frozen after the rsETH incident. A few days later, Aave LLC filed an emergency motion for its dismissal. On May 8, the court modified the injunction, allowing for on-chain Arbitrum voting and permitting the transfer of the frozen ETH to Aave LLC. After the transfer, the injunction will be attached to Aave LLC. The revised constitutional AIP retains the asset recovery intent already approved by Arbitrum DAO, and the ETH will still be used for the recovery related to the rsETH incident. Aave LLC will comply with all court obligations during the litigation process.

Arbitrum DAO Proposal Update: Court Modifies Injunction, Allows Transfer of Frozen ETH to Aave LLC

On May 12, the Nikkei 225 index opened up 0.20% at 62,544.03 points; the South Korean KOSPI index rose 1.68% to 7,953.41 points. (Dongxin News Agency)

[Japanese and South Korean Stock Markets Open Higher]On May 12, the Nikkei 225 index opened up 0.20% at 62,544.03 points; the South Korean KOSPI index rose 1.68% to 7,953.41 points. (Dongxin News Agency)

Japanese and South Korean Stock Markets Open Higher

On May 12, CleanSpark announced that it achieved revenue of $136.4 million in Q1, a decrease of 24.9% from $181.7 million in the same period last year. The net loss was $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the same period last year. Adjusted EBITDA was -$241.2 million, compared to -$57.8 million in the same period last year. The balance sheet shows that as of March 31, 2026, the company held $260.3 million in cash and its Bitcoin holdings were valued at $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties in collateral arrangements). Total current assets were $1 billion, and total assets reached $2.9 billion. Total long-term debt (net of discounts and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders' equity was $1 billion, and working capital was $1 billion. CleanSpark President and CFO Gary Vecchiarelli noted that the strong liquidity position not only supports short-term execution plans but also preserves considerable options for future opportunities in AI/HPC and digital infrastructure, which is a direct result of the company's long-term financial discipline.

[CleanSpark Reports Q1 Net Loss of $378.3 Million, Holds $925.2 Million in Bitcoin, Accelerates AI/HPC Digital Infrastructure Transformation]On May 12, CleanSpark announced that it achieved revenue of $136.4 million in Q1, a decrease of 24.9% from $181.7 million in the same period last year. The net loss was $378.3 million (basic loss per share of $1.52), compared to a net loss of $138.8 million in the same period last year. Adjusted EBITDA was -$241.2 million, compared to -$57.8 million in the same period last year. The balance sheet shows that as of March 31, 2026, the company held $260.3 million in cash and its Bitcoin holdings were valued at $925.2 million (including current Bitcoin, non-current Bitcoin, and Bitcoin held by counterparties in collateral arrangements). Total current assets were $1 billion, and total assets reached $2.9 billion. Total long-term debt (net of discounts and issuance costs) was $1.8 billion, total liabilities were $1.9 billion, total shareholders' equity was $1 billion, and working capital was $1 billion. CleanSpark President and CFO Gary Vecchiarelli noted that the strong liquidity position not only supports short-term execution plans but also preserves considerable options for future opportunities in AI/HPC and digital infrastructure, which is a direct result of the company's long-term financial discipline.

CleanSpark Reports Q1 Net Loss of $378.3 Million, Holds $925.2 Million in Bitcoin, Accelerates AI/HPC Digital Infrastructure Transformation

On May 12, according to official news, Stream Trading Protocol (Stream Soft Holding Company) is exploring various options to maximize its asset value for the benefit of clients and creditors. The goal is to integrate, liquidate, and distribute assets as quickly and prudently as possible under the current circumstances. To this end, the company is considering several different strategic options, all of which require some form of participation from clients and creditors. More details are expected to be announced in the coming weeks, so please stay tuned to their Discord, X, and official website. In the meantime, inquiries can be directed to Jeremiah Ledgwidge at Cooley LLP. BlockBeats previously reported that Stream Finance disclosed in November 2025 a loss of approximately $93 million in assets due to an external fund manager, resulting in a freeze on user withdrawals.

[Stream Trading Protocol to Liquidate and Maximize Asset Value, Seeking Participation from Clients and Creditors]On May 12, according to official news, Stream Trading Protocol (Stream Soft Holding Company) is exploring various options to maximize its asset value for the benefit of clients and creditors. The goal is to integrate, liquidate, and distribute assets as quickly and prudently as possible under the current circumstances. To this end, the company is considering several different strategic options, all of which require some form of participation from clients and creditors. More details are expected to be announced in the coming weeks, so please stay tuned to their Discord, X, and official website. In the meantime, inquiries can be directed to Jeremiah Ledgwidge at Cooley LLP. BlockBeats previously reported that Stream Finance disclosed in November 2025 a loss of approximately $93 million in assets due to an external fund manager, resulting in a freeze on user withdrawals.

Stream Trading Protocol to Liquidate and Maximize Asset Value, Seeking Participation from Clients and Creditors

On May 12, MARA announced its Q1 2026 financial and operational data, reporting a net loss of $1.3 billion (diluted loss per share of $3.31), compared to a net loss of $533.4 million in the same period last year. The loss was primarily due to a $1 billion loss from changes in the fair value of digital assets. During the quarter, the company produced 2,247 BTC at an average cost of $76,288 and sold 20,880 BTC at an average price of $70,137. Additionally, MARA stated that it will continue to advance its evolution into a leading digital infrastructure company, aiming to convert energy into high-value computing capabilities in AI, HPC, critical IT loads, and Bitcoin mining.

[MARA Reports Q1 Net Loss of $1.3 Billion, Sells 20,880 BTC at Average Price of $70,137]On May 12, MARA announced its Q1 2026 financial and operational data, reporting a net loss of $1.3 billion (diluted loss per share of $3.31), compared to a net loss of $533.4 million in the same period last year. The loss was primarily due to a $1 billion loss from changes in the fair value of digital assets. During the quarter, the company produced 2,247 BTC at an average cost of $76,288 and sold 20,880 BTC at an average price of $70,137. Additionally, MARA stated that it will continue to advance its evolution into a leading digital infrastructure company, aiming to convert energy into high-value computing capabilities in AI, HPC, critical IT loads, and Bitcoin mining.

MARA Reports Q1 Net Loss of $1.3 Billion, Sells 20,880 BTC at Average Price of $70,137

On May 12, Roaring Kitty, the key figure in the GameStop 'Retail vs Wall Street' saga and the king of meme stocks, reportedly had his official X account hacked early this morning. The hacker posted a contract for the meme coin Red Kitten Crew (RKC), causing the token's market cap to briefly reach $12 million before plummeting to $1.8 million. Following this incident, Roaring Kitty appears to have regained control of his account and deleted the tweets containing the contract address. Although he has not publicly clarified the situation, the community widely believes that the posting of the meme coin's contract address was indeed due to the account being compromised for a short period.

[Roaring Kitty's X Account Hacked, Meme Coin RKC Soars to $12 Million Market Cap Before Crash]On May 12, Roaring Kitty, the key figure in the GameStop 'Retail vs Wall Street' saga and the king of meme stocks, reportedly had his official X account hacked early this morning. The hacker posted a contract for the meme coin Red Kitten Crew (RKC), causing the token's market cap to briefly reach $12 million before plummeting to $1.8 million. Following this incident, Roaring Kitty appears to have regained control of his account and deleted the tweets containing the contract address. Although he has not publicly clarified the situation, the community widely believes that the posting of the meme coin's contract address was indeed due to the account being compromised for a short period.

Roaring Kitty's X Account Hacked, Meme Coin RKC Soars to $12 Million Market Cap Before Crash

On May 12, according to official news, 21Shares US announced that its Hyperliquid ETF (THYP) will be launched on May 12, 2026, at Eastern Time. According to the prospectus, THYP is a passive spot HYPE ETF aimed at tracking the performance of the FTSE Hyperliquid Index, and it plans to pledge a portion of its HYPE holdings under controlled compliance and tax risks.

[21Shares Hyperliquid ETF (THYP) to Launch on May 12]On May 12, according to official news, 21Shares US announced that its Hyperliquid ETF (THYP) will be launched on May 12, 2026, at Eastern Time. According to the prospectus, THYP is a passive spot HYPE ETF aimed at tracking the performance of the FTSE Hyperliquid Index, and it plans to pledge a portion of its HYPE holdings under controlled compliance and tax risks.

21Shares Hyperliquid ETF (THYP) to Launch on May 12

Patrick Hansen, Director of EU Strategy & Policy at Circle, tweeted that stablecoins are undeniably crypto's killer use case and going to mainstream faster than any other application. He said:
1. Total value settled with stablecoins is rising in the bear market, reaching over $7 trillion in 2022. For comparison, Mastercard processed $2.2 trillion in value in 2022;
2. USDC volume and weekly active wallets are both going up in spite of the bear market;
3. The relative share of stablecoins market cap in Ethereum (e.g. vs. DeFi mcap) is growing significantly;
4. The absolute stablecoin market cap only fell by 5.7%, visibly uncorrelated to DeFi TVL;
5. Payment stablecoins like USDC (only backed by cash & cash equivalents) are uncorrelated to the price of bitcoin or the trading volumes in associated trading pairs;
6. USDC is even less speculative than the US Dollar (M2). About 15% of USDC transactions are wallet-to-wallet transfers, which is relatively high compared to the 2% for non-financialized transfers observed in traditional payment systems;
7. Stablecoins are the de facto working capital in DeFi. In the 2H of 2022, around 45% of the liquidity in decentralized exchanges was provided by stablecoins;
8. DeFi & Payment stablecoins can bring down fx costs (a $7T daily volume market) by up to 80%, saving unbanked and underbanked individuals $30 billion per year;
9. In some - particularly inflation-affected - parts of the world, more than 1/3 of the population has already done an everyday purchase with a stablecoin. Retail adoption is picking up steam;
10. For international teams in Web3, already a majority of companies surveyed offer USDC or other stablecoins as the primary form of compensation for all employees;
11. 83% of merchants are prioritizing stablecoins payments, which promise to save them a lot of money;
12. Literally all global payment service providers - incl. VISA, Mastercard, checkoutdotcom, Plaid, Stripe, Worldpay from FIS etc. - are investing into stablecoin (USDC) payment & settlement solutions;
13. Increasingly, payment stablecoins are adopted for corruption-resistant, instant and low-cost financial aid programs in war and conflict-affected regions like Ukraine. International organizations like the UNHCR are leading the way;
14. Finally, across the world (EU, UK, US, Japan, Singapore etc.), regulatory clarity and regulatory frameworks for stablecoins are advancing rapidly, and usually first.
He said finally that stablecoins - offering 24/7 instant settlement on a credibly-neutral, shared global ledger - will become a core part of the global payments infrastructure over the coming decade. The data speaks for itself. Stablecoins are about to go mainstream.

Detail

【Circle’s EU Policy Director: Stablecoins are crypto's killer use case and going to mainstream】Patrick Hansen, Director of EU Strategy & Policy at Circle, tweeted that stablecoins are undeniably crypto's killer use case and going to mainstream faster than any other application. He said:
1. Total value settled with stablecoins is rising in the bear market, reaching over $7 trillion in 2022. For comparison, Mastercard processed $2.2 trillion in value in 2022;
2. USDC volume and weekly active wallets are both going up in spite of the bear market;
3. The relative share of stablecoins market cap in Ethereum (e.g. vs. DeFi mcap) is growing significantly;
4. The absolute stablecoin market cap only fell by 5.7%, visibly uncorrelated to DeFi TVL;
5. Payment stablecoins like USDC (only backed by cash & cash equivalents) are uncorrelated to the price of bitcoin or the trading volumes in associated trading pairs;
6. USDC is even less speculative than the US Dollar (M2). About 15% of USDC transactions are wallet-to-wallet transfers, which is relatively high compared to the 2% for non-financialized transfers observed in traditional payment systems;
7. Stablecoins are the de facto working capital in DeFi. In the 2H of 2022, around 45% of the liquidity in decentralized exchanges was provided by stablecoins;
8. DeFi & Payment stablecoins can bring down fx costs (a $7T daily volume market) by up to 80%, saving unbanked and underbanked individuals $30 billion per year;
9. In some - particularly inflation-affected - parts of the world, more than 1/3 of the population has already done an everyday purchase with a stablecoin. Retail adoption is picking up steam;
10. For international teams in Web3, already a majority of companies surveyed offer USDC or other stablecoins as the primary form of compensation for all employees;
11. 83% of merchants are prioritizing stablecoins payments, which promise to save them a lot of money;
12. Literally all global payment service providers - incl. VISA, Mastercard, checkoutdotcom, Plaid, Stripe, Worldpay from FIS etc. - are investing into stablecoin (USDC) payment & settlement solutions;
13. Increasingly, payment stablecoins are adopted for corruption-resistant, instant and low-cost financial aid programs in war and conflict-affected regions like Ukraine. International organizations like the UNHCR are leading the way;
14. Finally, across the world (EU, UK, US, Japan, Singapore etc.), regulatory clarity and regulatory frameworks for stablecoins are advancing rapidly, and usually first.
He said finally that stablecoins - offering 24/7 instant settlement on a credibly-neutral, shared global ledger - will become a core part of the global payments infrastructure over the coming decade. The data speaks for itself. Stablecoins are about to go mainstream.

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Circle’s EU Policy Director: Stablecoins are crypto's killer use case and going to mainstream

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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