Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Global Index Provider M _ _ _ announced an index consultation on Digital Asset Treausry Companies on 27 August. Friday, they extended til year-end, but gave a clear proposal update. </li>
<li>They propose to exclude companies where digital asset holdings represent &gt;50% of assets. They seek input. They also seek input on whether a company self-defines as a DAT...</li>
<li>And also look at stated reasons for capital raising. A preliminary list suggests <a href="https://www.smartkarma.com/entities/strategy-inc" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Strategy (MSTR US)</a>  and <a href="https://www.smartkarma.com/entities/metaplanet-inc" target="_blank" data-smartkarma-citation="entities:2130:1" rel="noopener">Metaplanet (3350 JP)</a> are obvious targets. Others will be too. </li>
</ul>


Global Index Provider M _ _ _ announced an index consultation on Digital Asset Treausry Companies on 27 August. Friday, they extended til year-end, but gave a clear proposal update. 
They propose to exclude companies where digital asset holdings represent &gt;50% of assets. They seek input. They also seek input on whether a company self-defines as a DAT...
And also look at stated reasons for capital raising. A preliminary list suggests Strategy (MSTR US)  and Metaplanet (3350 JP) are obvious targets. Others will be too. 


[Quiddity Index] Index Consultation Anncmt Suggests The Big M Will Delete 1 LargeCap, 5 Small.

Index Rebalance

<ul>
<li>On 27 August, <a href="https://www.smartkarma.com/entities/metaplanet-inc" target="_blank" data-smartkarma-citation="entities:2130:1" rel="noopener">Metaplanet (3350 JP)</a> announced a large overseas offering in line with a pause in the 20th Warrant Issuance program it had outstanding. The goal? Buy more bitcoin.</li>
<li>Shares had been ¥890 on the 27th, trading higher through the 29th. The offering priced at ¥553. Down 38%. Ouch. But it meant index upweight due to higher share count.</li>
<li>Friday post-close, global index provider M _ _ _ announced a consultation on digital asset treasury companies, suspending the upweight for Metaplanet. Watch out MSTR!</li>
</ul>


On 27 August, Metaplanet (3350 JP) announced a large overseas offering in line with a pause in the 20th Warrant Issuance program it had outstanding. The goal? Buy more bitcoin.
Shares had been ¥890 on the 27th, trading higher through the 29th. The offering priced at ¥553. Down 38%. Ouch. But it meant index upweight due to higher share count.
Friday post-close, global index provider M _ _ _ announced a consultation on digital asset treasury companies, suspending the upweight for Metaplanet. Watch out MSTR!


[Quiddity Index] Index Consultation on Digital Asset Treasury Cos. The 'Tutes Are Leaving?

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Marathon Digital Holdings / Equity Bottom-Up

<ul><li>MARA Holdings, a leading enterprise in the Bitcoin mining industry, delivered record-breaking performance metrics for its Q2 2025 earnings.</li><li>Despite challenges in the volatile cryptocurrency landscape, the company demonstrated considerable growth and strategic fortifications in both its Bitcoin holdings and operational capacities.</li><li>A key highlight from the earnings call was Marathon's impressive financial performance this quarter.</li></ul>

MARA Holdings, a leading enterprise in the Bitcoin mining industry, delivered record-breaking performance metrics for its Q2 2025 earnings.Despite challenges in the volatile cryptocurrency landscape, the company demonstrated considerable growth and strategic fortifications in both its Bitcoin holdings and operational capacities.A key highlight from the earnings call was Marathon's impressive financial performance this quarter.

Marathon Digital Taps 3 Gigawatts of Energy—Can Its Latest Expansion Efforts Help Up Its AI & Crypto Game?

<ul><li>MARA Holdings recently held its first quarter 2025 earnings call, offering insights into both its current operations and future strategies.</li><li>The company faces a mixed landscape shaped by Bitcoin's fluctuating value, which significantly impacts shareholder sentiment and the company's stock performance.</li><li>Notably, MARA aligns with the view of Bitcoin as a macro hedge, comparable to gold, which is particularly relevant amid volatile market conditions.</li></ul>

MARA Holdings recently held its first quarter 2025 earnings call, offering insights into both its current operations and future strategies.The company faces a mixed landscape shaped by Bitcoin's fluctuating value, which significantly impacts shareholder sentiment and the company's stock performance.Notably, MARA aligns with the view of Bitcoin as a macro hedge, comparable to gold, which is particularly relevant amid volatile market conditions.

MARA Holdings: Will Its Off-grid Expansion & Energy Partnerships For Sustainable Bitcoin Mining Operations Work Out?

<ul><li>MARA Holdings, Inc. (MARA) has undergone significant transformation in 2024, impacting its financial performance and strategic positioning substantially.</li><li>The company reported record-high revenues, net income, and adjusted EBITDA for both the fourth quarter and the full year.</li><li>Key financial highlights include a 37% increase in Q4 revenue to $214.4 million and a 69% rise in annual revenue to $656.4 million.</li></ul>

MARA Holdings, Inc. (MARA) has undergone significant transformation in 2024, impacting its financial performance and strategic positioning substantially.The company reported record-high revenues, net income, and adjusted EBITDA for both the fourth quarter and the full year.Key financial highlights include a 37% increase in Q4 revenue to $214.4 million and a 69% rise in annual revenue to $656.4 million.

MARA Holdings: Capital Market Strategy & Bitcoin Holdings To Target Explosive Growth!

United States

Marathon Digital Holdings, Inc. operates as a digital asset technology company. The Company mines cryptocurrencies, with a focuses on the blockchain ecosystem and the generation of digital assets. Marathon Digital Holdings serves customers worldwide.

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Marathon Digital Holdings (MARA US)

[Quiddity Index] Index Consultation Anncmt Suggests The Big M Will Delete 1 LargeCap, 5 Small.

Global Index Provider M* announced a Digital Asset Treasury Company consultation in late August. Friday they extended the consultation. I expect it...

Travis Lundy

[Quiddity Index] Index Consultation on Digital Asset Treasury Cos. The 'Tutes Are Leaving?

Metaplanet issued stock. It priced. Normally it goes into indices. Global Index Provider M _ _ _ has decided to do a consultation instead. That's...

Travis Lundy

Marathon Digital Taps 3 Gigawatts of Energy—Can Its Latest Expansion Efforts Help Up Its AI & Crypto Game?

MARA Holdings, a leading enterprise in the Bitcoin mining industry, delivered record-breaking performance metrics for its Q2 2025...

Baptista Research

MARA Holdings: Will Its Off-grid Expansion & Energy Partnerships For Sustainable Bitcoin Mining Operations Work Out?

MARA Holdings recently held its first quarter 2025 earnings call, offering insights into both its current operations and future strategies. The...

Baptista Research

MARA Holdings: Capital Market Strategy & Bitcoin Holdings To Target Explosive Growth!

MARA Holdings, Inc. (MARA) has undergone significant transformation in 2024, impacting its financial performance and strategic positioning...

Baptista Research

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