MINIMAX reports H1 revenue of $117 million, up 283.1% year-over-year.

Bernstein forecasts that as "currency devaluation trades" gain traction, Bitcoin will hit a record high of around $150,000 by mid-2027, and could reach a peak of roughly $300,000 in this cycle by 2029. The firm also retained an "outperform" rating on Strategy (MSTR), but lowered its target price for the stock from $450 to $350, primarily citing its updated outlook on the Bitcoin market cycle and the equity dilution impact from Strategy’s accelerated stock issuance.

Beating AI News Insight: MiniMax’s H1 revenue hits $117 million, up 283.1% year-over-year, surpassing its full-year 2023 revenue in just six months. The fastest-growing segment is enterprise and developer API calls for MiniMax models: revenue here surged from $9.2 million to $73.93 million, up 703.1% YoY, accounting for 63.4% of total revenue. Growth was driven by more paying users and enterprise clients, higher API call volumes, and the popularity of token packages. Revenue from AI products like Hailuo AI doubled to $42.64 million, though its share of total revenue dropped to 36.6%. Overseas remains MiniMax’s core market, with revenue outside mainland China making up 60.8% of total. Profitability improved: gross margin rose from 12.1% to 17.9%, while sales and marketing expenses fell 17.9%. However, R&D remains cash-intensive: H1 R&D spending hit $297 million, roughly 2.5 times the period’s revenue. Reported net loss narrowed 11% YoY to $358 million, but this was largely due to a sharp reduction in fair value losses on financial liabilities post-listing. Excluding these items, adjusted net loss widened 111.2% YoY to $293 million.

Jiang Zhuoer, founder of BTC.TOP (莱比特矿池), noted in a post that on the first U.S. stock trading day after the weekend’s sharp rally, ETF fund flows are a key indicator to monitor. Data shows Bitcoin ETFs saw a net inflow of $314 million, while Ethereum ETFs recorded a net inflow of $180 million. U.S. stock funds are piling into longs, meaning this rally has been further confirmed by capital, making it highly unlikely for Bitcoin to fall back below its $67,000 starting point. Additionally, Ethereum ETF inflows equal 57.2% of Bitcoin’s inflows, a figure significantly higher than ETH’s 18.8% share of the total BTC market cap. Based on this, he believes ETH will continue to act as the "engine" of this bull market. With Trump’s strong embrace of blockchain and the advancement of the CLARITY Act, financial assets including the U.S. dollar, U.S. stocks, and U.S. Treasuries may become further on-chain, tokenized, and smart-contract integrated in the future. He holds that this will drive more traditional finance professionals to understand and invest in related blockchain ecosystems.

Hyperliquid co-founder Jeff Yan announced that HyperCore’s manual borrowing feature has launched on the testnet. All borrowing functions on the mainnet remain restricted to the portfolio margin model for now. HyperEVM smart contracts can now access HyperCore’s lending functions via CoreWriter and read-only precompiled contracts.

Beating AI News Insight: Zhipu AI has confirmed that Ox Alpha is a new version of its GLM series, with the model’s weights set to be released publicly tonight. Earlier, the community had already identified Ox Alpha as Zhipu’s work via clues such as API error logs and tokenizer details, and this has now been officially verified. Ox Alpha anonymously launched on OpenRouter over the weekend, focusing on programming and long-duration agent tasks, while supporting inputs of text, images, and videos. Shortly after its launch, it rose to become the most-used model on OpenRouter, with usage volume twice that of DeepSeek. OpenRouter described this as the largest model release in the platform’s history. Multimodality is a notable shift here: Zhipu previously separated its core GLM models from GLM-V visual models – for instance, GLM-5 only supported text, while images and videos were handled by models like GLM-5V-Turbo. This time, Ox Alpha is confirmed as a new GLM version that can process both images and videos. If the final official model name drops the "V" suffix, it would mark Zhipu’s move to merge its two model lines. Ox Alpha will stay free for one week; post-period pricing has not been announced.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa)’s monitoring, address 0xa69…49eAd has been steadily accumulating ETH since August 17, amassing a total of 6,000 ETH at a price range of roughly $1,894 to $2,505. The address’s current unrealized profit stands at approximately $130,000; it now holds ETH worth around $14.56 million, with an average entry price of $2,427.29. Its most recent accumulation occurred roughly 3 hours ago.