Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Plume Completes $20 Million Series A Funding, with Brevan Howard Digital, Haun Ventures, Galaxy Ventures and Lightspeed Faction as Co-Investors
Plume, the first fully modular, integrated Layer-1 blockchain focused on real-world asset finance (RWAfi), today announced the completion of a $20 million Series A round of financing. This round of financing was led by Brevan Howard Digital, Haun Ventures, Galaxy Ventures, and Lightspeed Faction, with participation from well-known institutions such as Superscrypt, Hashkey, Laser Digital (Nomura Group), A Capital, 280 Capital, SV Angel, and Reciprocal Ventures. This financing demonstrates the high recognition of Plume's vision to build an on-chain RWAfi ecosystem by the crypto industry and traditional financial investors.
Since its seed round of financing, Plume has achieved explosive growth, with more than 180 protocols under construction in its ecosystem and assets exceeding $4 billion. Plume recently completed an 8-week testnet with impressive data, attracting more than 18 million wallets, 3.75 million active users, and more than 280 million transactions. In addition, Plume's recent pre-staking event was oversubscribed in less than 90 minutes, raising more than $30 million, laying a strong momentum for the upcoming mainnet launch.
As the leader in RWAfi, Plume has built infrastructure that facilitates on-chain interaction with the real world. Through products such as Plume Arc (modular tokenization engine) and Plume Nexus (real-world data provider), Plume has become the easiest option to bring real-world assets to the chain, while also facilitating users to interact with these assets on Plume's EVM blockchain. On Plume, users can seamlessly exchange, trade, and speculate on real-world assets just as they interact with crypto-native assets. Whether earning real income by holding oil royalties, putting them into lending markets for recycling, or putting those tokens into perpetual contract decentralized exchanges, Plume is the only on-chain platform that provides permissionless access to the real world through crypto.
“There has always been a huge demand for real-world assets (RWAs) on-chain, but the infrastructure to bring these assets on-chain has been lacking in the past,” said Chris Yin, co-founder and CEO of Plume. “Look at the original RWA - stablecoins, which are one of the best products in the crypto space and provide a great entry point for new users to enter the crypto world. But the key to adoption is the ecosystem and user experience - while stablecoins have done it, other RWAs have not yet succeeded. And now with Plume, all kinds of asset issuers can become crypto-native builders. Through our technology and ecosystem, we connect them directly to our community, ecology, and liquidity, and do it all in an open, permissionless and composable way.”
This funding round will accelerate Plume’s commitment to creating the first RWA-focused Layer-1 blockchain for crypto-native users and institutions, while supporting application and product development in emerging markets built on Plume. This will further its mission to bring real-world assets on-chain to serve crypto-native users and even the largest financial institutions.
“Plume’s innovative approach to RWA leverages the unique capabilities of DeFi-native blockchains combined with their deep understanding of traditional financial institutions and new user incentives, especially in emerging markets,” said Will Nuelle, partner at Galaxy Ventures. “It’s exciting that Plume is bringing alternative investment classes such as carbon credits, special financial products, and GPUs to the chain, which are currently not easily accessible to investors.”
Plume is committed to unlocking the untapped potential of physical assets and economic data to create new opportunities for real yield, sustainable growth, and global accessibility. Users will be able to access Plume starting with the mainnet launch early next year.
About Plume
Plume is the first fully modular, integrated Layer-1 blockchain focused on RWAfi, providing a composable, EVM-compatible environment for accessing and managing a wide range of real-world assets. With over 180 projects building on its private development network, Plume offers an end-to-end tokenization engine and a range of financial infrastructure partners to simplify the asset access process and enable seamless integration of real-world assets with DeFi. For more information, visit https://www.plumenetwork.xyz/ or contact press@plumenetwork.xyz.
You may also like
From x402 to MPP: Cloudflare's crucial vote, will it go to Coinbase or Stripe?
BlackRock CEO issues annual open letter: The wave of tokenization has arrived, and we will lead this trend
When Backpack backstabs the community
When gold is no longer a safe haven, and Bitcoin continues to panic
Trump, the World's Largest Oil Trader
If the US and Iran have not reached an agreement in 5 days, what other cards does Trump have?
Tether Whale Dumps £12 Million, Backing Crypto’s ‘British Trump’
Ethereum Foundation Post: Rethinking the Division of Work Between L1 and L2 to Build the Ultimate Ethereum Ecosystem
Two Major Prediction Market Platforms Unite Rarely, What Is the Story Behind This New Fund?
Dragonfly Partners: Most agents will not engage in autonomous trading, how can crypto payments prevail?
US AI Startup Goes All In on Chinese Mega-Model | Rewire News Morning Brief
Trump Lies Again: A "Five-Day Pause" Psyop, How Wall Street, Bitcoin, and Polymarket Insiders Synced Uposciogen
When a Token Becomes Labor, People Become the Interface
Ceasefire News Leaked Ahead of Time? Large Polymarket Bets on Outcome Before Trump's Tweet
BlackRock CEO's Annual Shareholder Letter: How is Wall Street Using AI to Keep Profiting from National Pension Funds?
Sun Valley Releases 2025 Financial Report: Bitcoin Mining Revenue Reaches $670 Million, Accelerating Transformation to AI Infrastructure Platform
On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.
• Financial Performance:
Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.
Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.
Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.
• Mining Operations and Costs:
A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.
The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;
The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.
As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.
• Strategic Progress:
The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.
CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."
"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."
The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."
The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.
The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.
This includes:
· Cost of Revenue (excluding depreciation): $1.553 billion
· Cost of Revenue (depreciation): $38.1 million
· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)
· Mining Machine Impairment Loss: $81.4 million
· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million
The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.
The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.
The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.
The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.
The total annual operating costs and expenses amount to $1.1 billion.
Specifically, they include:
· Revenue Cost (excluding depreciation): $543.3 million
· Revenue Cost (depreciation): $116.6 million
· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)
· Miner Impairment Loss: $338.3 million
· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million
The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.
The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.
As of December 31, 2025, the company's key assets and liabilities are as follows:
· Cash and Cash Equivalents: $41.2 million
· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million
· Miner Net Value: $248.7 million
· Long-Term Debt (related party): $557.6 million
In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.
As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.
The US AI Startup Is Loving China's Open Source Model
App